Termination; Return of Consigned Precious Metal Clause Samples

Termination; Return of Consigned Precious Metal. (a) The Consignment Facility and this Agreement shall terminate automatically, unless terminated earlier as provided below, on October 31, 2007. (b) Sensata may terminate the Consignment Facility at any time by sending twenty (20) days prior written notice thereof to the Company. ALL CONSIGNED PRECIOUS METAL AND SUMS OUTSTANDING UNDER THE CONSIGNMENT FACILITY SHALL BE DUE AND PAYABLE UPON THE EARLIER OF (I) THE OCCURRENCE OF AN EVENT OF DEFAULT AND ACCELERATION OF THE OBLIGATIONS BY SENSATA, OF (B) TWENTY (20) DAYS AFTER DEMAND BY SENSATA HEREUNDER. Upon giving of such notice or at any time thereafter, Sensata may, at its option, suspend or terminate its obligation to consign or deliver Precious Metal hereunder. (c) The Company may terminate this Consignment Facility by giving forty five (45) days’ prior written notice of such termination to Sensata, except upon the sale of the ESC business unit, in which case the Company may terminate the Agreement on three (3) days prior notice; provided Sensata has been informed of the transaction within 15 days prior thereto. Upon receipt of such notice, Sensata may, in its sole discretion, continue to consign or deliver Precious Metal hereunder, provided, however, no consignment of Precious Metal shall have a Consignment Period later than forty five (45) days after receipt by Sensata of the Company’s termination notice. ALL SUMS OUTSTANDING UNDER THIS CONSIGNMENT FACILITY WILL BE DUE AND PAYABLE FORTY FIVE (45) DAYS AFTER RECEIPT OF WRITTEN NOTICE FROM THE COMPANY HEREUNDER. (d) Upon termination of the Consignment Facility, Sensata may credit any amounts then held by it to reduce the Obligations in accordance with the provisions hereof. Termination of the Consignment Facility shall not affect the Company’s duty to pay and perform its obligations to Sensata under the Consignment Facility in full. Notwithstanding termination, until all Obligations have been indefeasibly paid in full, Sensata shall retain the security granted under the Security Documents and, except for those specific covenants and conditions dealing with the consigning of Precious Metal, all terms and conditions of this Agreement shall remain in full force and effect. (e) Upon termination of the Consignment Facility for any reason, the Company shall immediately upon the effective date of termination (i) make Metals Payment for all Consigned Precious Metal theretofore consigned but for which Metals Payment in full has not been made, the purchase price th...
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Related to Termination; Return of Consigned Precious Metal

  • Complete Portfolio Holdings From Shareholder Reports Containing a Summary Schedule of Investments; and

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  • Certain After-Acquired Collateral Borrowers shall promptly notify Agent in writing if, after the Closing Date, any Borrower obtains any interest in any Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Intellectual Property, Investment Property or Letter-of-Credit Rights and, upon Agent’s request, shall promptly take such actions as Agent deems appropriate to effect Agent’s duly perfected, first priority Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Agent’s request, Borrowers shall obtain an acknowledgment that such third party holds the Collateral for the benefit of Agent.

  • No Action Except Under Specified Documents The Interim Eligible Lender Trustee shall not otherwise deal with the Interim Trust Loans except in accordance with the powers granted to and the authority conferred upon the Interim Eligible Lender Trustee pursuant to this Agreement, the Purchase Agreements and the Sale Agreement.

  • Quarterly Portfolio of Investments Services Subject to the receipt of all Required Data, and as a component of the Services, the Administrator will use such Required Data from each Trust, State Street’s internal systems, and other data providers to prepare a draft portfolio of investments (the “Portfolio of Investments”), compliant with GAAP, as of each Trusts’ first and third fiscal quarter-ends. · Each Trust acknowledges and agrees that it will be responsible for (i) reviewing and approving each such Portfolio of Investments, (ii) incorporating such information into such Trust’s filing mechanism, (iii) attaching each of its Portfolio of Investments to its first and third fiscal quarter-end N-PORT filings, and (iv) submitting such Portfolios of Investments as part of such N-PORT filings electronically to the SEC.