Common use of Termination by the Borrower Clause in Contracts

Termination by the Borrower. Upon delivery to CIT of a Notice of Termination, the Borrower may, at its option, terminate this Agreement as of the last day of the Original Term or the then current Renewal Term, as applicable and as stated in such Notice of Termination; provided however that the Borrower shall, on the termination date specified in its Notice of Termination satisfy in full all of its obligations under Section 5.03 hereof and under any other Related Document. Any Notice of Termination given by the Borrower shall be irrevocable unless CIT otherwise agrees in writing.

Appears in 1 contract

Sources: Revolving Credit Agreement (Fay Leslie Companies Inc)

Termination by the Borrower. Upon delivery to CIT by the Borrower of a Notice of Termination, the Borrower may, at its option, terminate this Agreement as of shall terminate on the last day of the Original Term or the then current Renewal Term, as applicable and as stated Termination Date specified in such Notice of Termination; provided however , provided, however, that on the Termination Date so specified, the Borrower shall, on the termination date specified in its Notice of Termination shall satisfy in full all of its obligations under Section 5.03 hereof and under any other Related Document. Any Notice of Termination so given by the Borrower shall be irrevocable unless CIT otherwise agrees in writing." (f) Section 5.03.

Appears in 1 contract

Sources: Revolving Credit Agreement (Fay Leslie Co Inc)