Common use of Automatic cancellation Clause in Contracts

Automatic cancellation. The Commitments of each Lender under each Facility which, at that time remain unutilised, will be automatically cancelled : (a) at the close of business on the last day of the Availability Period for that Facility to the extent undrawn at that time; and (b) immediately after the Facility Agent has given notice to the Company under paragraph (b) of Subclause 22.3 (Change of control or sale of business).

Appears in 1 contract

Sources: Second Supplemental Agreement (MGM Resorts International)

Automatic cancellation. The Commitments of each Lender under each Facility which, at that time remain unutilised, will be automatically cancelled cancelled: (a) at the close of business on the last day of the Availability Period for that Facility to the extent undrawn at that time; and (b) immediately after the Facility Agent has given notice to the Company under paragraph (b) of Subclause 22.3 8.3 (Change of control or sale of business).

Appears in 1 contract

Sources: Supplemental Agreement (MGM Resorts International)

Automatic cancellation. The Commitments of each Lender under each Facility which, at that time remain unutilised, will be automatically cancelled : (a) at the close of business on the last day of the Availability Period for that Facility to the extent undrawn at that time; and (b) immediately after the Facility Agent has given notice to the Company under paragraph (b) of Subclause 22.3 (Change of control or sale of business).

Appears in 1 contract

Sources: Credit Agreement (MGM Resorts International)

Automatic cancellation. The Commitments of each Lender under each Facility which, at that time remain unutilised, will be automatically cancelled cancelled: (a) at the close of business on the last day of the Availability Period for that Facility to the extent undrawn at that time; and (b) immediately after the Facility Agent has given notice to the Company under paragraph (b) of Subclause 22.3 8.3 (Change of control or sale of business).

Appears in 1 contract

Sources: Fifth Supplemental Agreement (MGM Resorts International)

Automatic cancellation. The Commitments of each Lender under each the Facility which, at that time remain unutilised, will be automatically cancelled cancelled: (a) at the close of business on the last day of the Availability Period for that Facility to the extent undrawn at that time; and (b) immediately after the Facility Agent has given notice to the Company under paragraph (b) of Subclause 22.3 7.2 (Change of control or sale of business).

Appears in 1 contract

Sources: Revolving Credit Facility Agreement (MGM Resorts International)

Automatic cancellation. The Commitments of each Lender under each the Facility which, at that time remain unutilised, will be automatically cancelled cancelled: (a) at the close of business on the last day of the Availability Period for that Facility to the extent undrawn at that time; andand 0132948-0000070 HKO1: 2008407391.17 (b) immediately after the Facility Agent has given notice to the Company under paragraph (b) of Subclause 22.3 7.2 (Change of control or sale of business).

Appears in 1 contract

Sources: Revolving Credit Facility Agreement (MGM Resorts International)

Automatic cancellation. The Commitments of each Lender under each a Facility which, at that time remain unutilised, will be automatically cancelled : (a) at the close of business on the last day of the Availability Period for Loans under that Facility to the extent undrawn at that time; and (b) immediately after the Facility Agent has given notice to the Company under paragraph (b) of Subclause 22.3 (Change of control or sale of business)Facility.

Appears in 1 contract

Sources: Credit Facility Agreement (International Paper Co /New/)

Automatic cancellation. The Commitments of each Lender under each Facility which, at that time remain unutilised, will be automatically cancelled cancelled: (a) at the close of business on the last day of the Availability Period for that Facility to the extent undrawn at that time; and (b) immediately after the Facility Agent has given notice to the Company under paragraph (b) of Subclause 22.3 7.2 (Change of control or sale of business).

Appears in 1 contract

Sources: Revolving Credit Facility Agreement (MGM Resorts International)