Termination Effective Date. 21.1. Subject to the Early Termination Fee, this Agreement will be effective on the date it is signed by the Parties, shall continue for the Term, and shall be automatically extended for successive Terms unless Borrower shall provide 60 days prior written notice to Lender of its intention to terminate whereupon this Agreement shall terminate on the date set forth in said notice (an “Early Termination Date”) upon successful repayment of all outstanding Obligations. 21.2. Lender may terminate this Agreement and demand immediate payment of all outstanding Obligations at any time and for any reason.
Appears in 2 contracts
Sources: Financing and Security Agreement (Vado Corp.), Financing and Security Agreement (Vado Corp.)
Termination Effective Date. 21.1. Subject to the Early Termination Fee, this Agreement will be effective on the date it is signed by the Parties, shall continue for the Term, and shall be automatically extended for successive Terms unless Borrower Seller shall provide 60 days prior written notice to Lender Purchaser of its intention to terminate whereupon this Agreement shall terminate on the date set forth in said notice (an “Early Termination Date”) upon successful repayment of all outstanding Obligations.
21.2. Lender Purchaser may terminate this Agreement and demand immediate payment of all outstanding Obligations at any time and for any reason.
Appears in 1 contract