Common use of Right of cancellation in relation to a Defaulting Lender Clause in Contracts

Right of cancellation in relation to a Defaulting Lender. Without prejudice to the Company’s rights under Clause 2.2 (Increase): (a) If any Lender becomes a Defaulting Lender, the Company may, at any time whilst the Lender continues to be a Defaulting Lender, give the Facility Agent 3 Business Days notice of cancellation of each Available Commitment of that Lender. (b) On the notice referred to in paragraph (a) above becoming effective, each Available Commitment of the Defaulting Lender shall immediately be reduced to zero. (c) The Facility Agent shall as soon as practicable after receipt of a notice referred to in paragraph (a) above, notify all the Lenders.

Right of cancellation in relation to a Defaulting Lender. Without prejudice to the CompanyParent’s rights under Clause 2.2 (Increase): (a) If any Lender becomes a Defaulting Lender, the Company Parent may, at any time whilst the Lender continues to be a Defaulting Lender, give the Facility Agent 3 Business Days notice of cancellation of each Available Commitment of that Lender. (b) On the notice referred to in paragraph (a) above becoming effective, each Available Commitment of the Defaulting Lender shall immediately be reduced to zero. (c) The Facility Agent shall as soon as practicable after receipt of a notice referred to in paragraph (a) above, notify all the Lenders.

Right of cancellation in relation to a Defaulting Lender. Without prejudice to the CompanyBorrower’s rights under Clause 2.2 (Increase): (a) If any Lender becomes a Defaulting Lender, the Company Borrower may, at any time whilst the Lender continues to be a Defaulting Lender, give the Facility Agent 3 Business Days Days’ notice of cancellation of each Available Commitment of that Lender. (b) On the notice referred to in paragraph (a) above becoming effective, each Available Commitment of the Defaulting Lender shall immediately be reduced to zero. (c) The Facility Agent shall as soon as practicable after receipt of a notice referred to in paragraph (a) above, notify all the Lenders.

Right of cancellation in relation to a Defaulting Lender. Without prejudice to the Company’s rights under Clause 2.2 (Increase): (a) If any Lender becomes a Defaulting Lender, the Company Borrower may, at any time whilst the while such Lender continues to be a Defaulting Lender, give the Facility Agent 3 three (3) Business Days Days’ notice of cancellation of each Available the undrawn Commitment of that Lender.; (b) On the notice referred to in paragraph (a) above becoming effective, each Available the undrawn Commitment of the Defaulting Lender shall immediately be reduced to zero.zero (without increasing the Commitment of any other Lender); and (c) The Facility Agent shall as soon as practicable after receipt of a notice referred to in paragraph (a) above, notify all the Lenders.

Right of cancellation in relation to a Defaulting Lender. Without prejudice to the CompanyBorrower’s rights under Clause 2.2 2.3 (Increase): (a) If any Lender becomes a Defaulting Lender, the Company Borrower may, at any time whilst the Lender continues to be a Defaulting Lender, give the Facility Agent 3 Business Days Days’ notice of cancellation of each Available Commitment of that Lender. (b) On the notice referred to in paragraph (a) above becoming effective, each Available Commitment of the Defaulting Lender shall immediately be reduced to zero. (c) The Facility Agent shall as soon as practicable after receipt of a notice referred to in paragraph (a) above, notify all the Lenders.

Right of cancellation in relation to a Defaulting Lender. Without prejudice to the Company’s rights under Clause 2.2 (Increase): (a) If any Lender becomes a Defaulting Lender, the Company Borrower may, at any time whilst the Lender while such ▇▇▇▇▇▇ continues to be a Defaulting Lender, give the Facility Agent 3 three (3) Business Days Days’ notice of cancellation of each Available the undrawn Commitment of that Lender.▇▇▇▇▇▇; (b) On the notice referred to in paragraph (a) above becoming effective, each Available the undrawn Commitment of the Defaulting Lender shall immediately be reduced to zero.zero (without increasing the Commitment of any other Lender); and (c) The Facility Agent shall as soon as practicable after receipt of a notice referred to in paragraph (a) above, notify all the Lenders.