Examples of Standstill Period in a sentence
This Agreement shall cease, terminate and have no further force and effect upon the expiration of the last day of the Standstill Period as set forth in Section 2(c), unless earlier terminated by mutual written agreement of the Parties; provided that Sections 9 through 21 shall survive the termination of this Agreement.
The Seller, for the Standstill Period set forth in Item 1.5 below, shall not seek to foreclose on the Note or enforce its UCC rights under the Note.
In the event that Purchaser does not purchase the entire Note Balance from Seller on or before the expiration of the Standstill Period, or if this agreement terminates for any reason whatsoever, immediately and without notice to any party, the Note Balance less any payments received by Seller pursuant to this Agreement, shall be immediately due from the Company (and any guarantor) to Seller.
In the event there has been a material adverse event with the Company or tother reasonable cause, upon fifteen (15) days written notice, the Seller may accelerate the termination of the Standstill Period.
Notwithstanding Section 1.5 to the extent any payments are received during the Standstill Period the Seller may apply such Payment to the outstanding amounts owed on the Note or return such funds to the Company.