Loan Commitment Period

Loan Commitment Period. The period from the date of this Loan and Security Agreement until the earlier of (a) the one hundred and twentieth day (120th) after the Petition Date or, if such date is not a Banking Business Day, the first Banking Business Day thereafter, (b) any date on which Lender accelerates the maturity of the Loan pursuant to Section 9.1 and demands payment in full of the Obligations, (c) the date upon which the Bankruptcy Case shall be converted to a case under chapter 7 of the Bankruptcy Code or... dismissed; (d) the effective date of a plan of reorganization for Borrower which has been confirmed by an order of the Bankruptcy Court; (e) the date upon which any Authorizing Order shall be amended, supplemented, vacated or otherwise modified without the prior written consent of Lender; (f) the date upon which the automatic stay expires; or (g) the date of any agreement for the sale of substantially all the assets of Borrower, unless such sale is approved by Lender, in which event, the date of consummation of the sale View More

Loan Commitment Period. Loan Commitment Period means an initial period of two (2) years commencing on the Effective Date and thereafter successive periods of one (1) year each commencing upon completion of each prior Loan Commitment Period.