Common use of Termination by Borrower Clause in Contracts

Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: (i) giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement, and (ii) terminating the NBCI Credit Agreement pursuant to the terms thereof (including, without limitation, payment to NBCI of the prepayment fee required thereunder).

Appears in 1 contract

Sources: Credit and Security Agreement (Nicollet Process Engineering Inc)

Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: (i) giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement, and (ii) terminating the NBCI Credit Agreement pursuant to the terms thereof (including, without limitation, payment to NBCI of the prepayment fee required thereunder)thereof.

Appears in 1 contract

Sources: Credit and Security Agreement (Rsi Systems Inc/Mn)

Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: by (i1) giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement, and (ii2) terminating paying the NBCI Credit Agreement pursuant to the terms thereof (including, without limitation, payment to NBCI of the Lender a prepayment fee required thereunder)in accordance with Section 2.5(b) if the Borrower terminates this Agreement effective as of any date other than the Termination Date.

Appears in 1 contract

Sources: Credit and Security Agreement (Digital Biometrics Inc)

Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: by (i1) giving at least 30 days' prior written notice to the Lender of o the Borrower's intention to terminate this Agreement, and (ii2) terminating paying the NBCI Credit Agreement pursuant to the terms thereof (including, without limitation, payment to NBCI of the Lender a prepayment fee required thereunder)in accordance with Section 2.5 (b) if the Borrower terminates this Agreement effective as of any date other than a Termination Date.

Appears in 1 contract

Sources: Credit and Security Agreement (Cima Labs Inc)

Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: by (i1) giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement, and (ii2) terminating paying the NBCI Credit Agreement pursuant to the terms thereof (including, without limitation, payment to NBCI of the Lender a prepayment fee required thereunder)in accordance with Section 2.5(b) if the Borrower terminates this Agreement effective as of any date other than a Termination Date.

Appears in 1 contract

Sources: Credit and Security Agreement (Vicom Inc)

Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: (i) by giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement, and (ii) terminating paying the NBCI Credit Agreement pursuant to the terms thereof (including, without limitation, payment to NBCI of the Lender a prepayment fee required thereunder)in accordance with Section if the Borrower terminates this Agreement effective as of any date other than a Termination Date.

Appears in 1 contract

Sources: Credit and Security Agreement (Minnesota Brewing Co)