Common use of Term of Commitments Clause in Contracts

Term of Commitments. Unless earlier terminated in accordance herewith, the Commitments shall terminate on the earlier of (a) the date on which the Term Loans are paid in full and (b) the Termination Date applicable to such Commitments, provided, however, that upon such payment in full of the Term Loans or on the Termination Date applicable to the Revolving Loan Commitments, Lenders holding Revolving Notes and Borrower may, in their sole discretion and without the consent or agreement of any other Lender, mutually agree to extend the Termination Date applicable to Revolving Loan Commitments for one or more consecutive periods of one year, however, the Revolving Loan Commitments of only those Lenders voting to extend their respective Revolving Loan Commitments shall be so extended. In addition, the Commitments may be terminated as set forth in Section 8.3 hereof. On the Termination Date applicable to the Commitments, all Obligations relating to Revolving Loans, the Term Loans, Risk Participation Agreements and Lender Letters of Credit (including, without limitation, all Revolving Loans, the Term Loans and all Risk Participation Agreement Liabilities) shall become immediately due and payable without notice or demand. Upon acceleration in accordance with Section 8.3, all unpaid Obligations shall become immediately due and payable without notice or demand. Notwithstanding any termination, until all Obligations have been fully paid and satisfied, Agent, on behalf of Lenders, shall be entitled to retain security interests in and liens upon all Collateral, and even after payment of all Obligations hereunder, Borrower's obligation to indemnify Agent and Lenders and the Lenders' obligations to indemnify the Agent in accordance with the terms hereof shall continue.