CANCELLATION OF CREDIT Sample Clauses

CANCELLATION OF CREDIT. If no Card Transactions are made from Your Account within 30 days of the date on which this agreement is made, We reserve the right to terminate this agreement. If We do, the Annual Fee will be refunded to You. Once the agreement has terminated, as long as no Credit has been used by You, any debt owed by You to APS and/or AFL under this agreement shall fall away. You shall have no redemption rights over the Credit.
Sample 1Sample 2
AutoNDA by SimpleDocs
CANCELLATION OF CREDIT. The Borrower may, upon three Banking Days prior written notice to the Agent, permanently cancel the Unutilized Portion of the Credit in whole or from time to time in part, provided that any partial cancellation must be in a minimum amount of Cdn. $5,000,000. 34 - 28 -
Sample 1
CANCELLATION OF CREDIT. THE BANK may, by notice to THE BORROWER, cancel the undisbursed portion of the Credit at any time and with immediate effect:
Sample 1
CANCELLATION OF CREDIT. 11 3.8 Intentionally deleted............................................ 11 3.9
Sample 1
CANCELLATION OF CREDIT. The Borrower may, upon five Banking Days ---------------------- prior written notice to the Agent, permanently cancel the Credit in whole or from time to time in part provided that the Borrower concurrently reduces, in accordance with Section 3.5, the Utilized Portion of the Credit so that such Utilized Portion does not exceed the reduced amount of the Credit.
Sample 1

Related to CANCELLATION OF CREDIT

  • Cancellation of Commitment The Commitments which, at that time, are unutilised shall be immediately cancelled at the end of the Availability Period.

  • Cancellation of Commitments The Commitments in respect of any Tranche which are unutilised at the end of the Availability Period for such Tranche shall then be cancelled.

  • Termination of Credit Facility The Credit Facility shall terminate on the earliest of (a) the third anniversary of the Closing Date (the "Maturity Date"), (b) the date of termination by the Borrower pursuant to Section 2.5(a) and (c) the date of termination by the Administrative Agent on behalf of the Lenders pursuant to Section 10.2(a).

  • Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.

  • MODIFICATION OF CREDIT AGREEMENT The Credit Agreement is hereby amended as follows:

  • Application of credit balances Each Creditor Party may without prior notice:

  • Termination or Reduction of Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

  • Ratification of Credit Agreement Each Loan Party acknowledges and consents to the terms set forth herein and agrees that this Amendment does not impair, reduce or limit any of its obligations under the Loan Documents, as amended hereby. This Amendment is a Loan Document.

  • Termination or Reduction of Commitment Borrower may, upon notice to Lender, terminate the Commitment, or from time to time permanently reduce the Commitment; provided that (i) any such notice shall be received by Lender not later than 12:00 p.m. five (5) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000 or any whole multiple of $10,000 in excess thereof, (iii) Borrower shall not terminate or reduce the Commitment if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Commitment, and (iv) if, after giving effect to any reduction of the Commitment or the L/C Sublimit exceeds the amount of the Commitment, the L/C Sublimit shall be automatically reduced by the amount of such excess. All fees accrued until the effective date of any termination of the Commitment shall be paid on the effective date of such termination.

  • Voluntary cancellation Subject to the payment of SIMEST Break Costs, the Borrower may, if it gives the Agent not less than thirty-five (35) days’ (or such shorter period as the Majority Lenders may agree) prior notice, cancel the whole or any part of the Available Facility. Any cancellation under this Clause 7.9 (Voluntary cancellation) shall reduce the Commitments of the Lenders rateably.

Time is Money Join Law Insider Premium to draft better contracts faster.