Right of prepayment and cancellation Clause Samples
Right of prepayment and cancellation in relation to a single Lender) shall be irrevocable, shall specify the date upon which such repayment is to be made and the amount of such repayment and shall oblige that Borrower to make such repayment on such date.
Right of prepayment and cancellation in relation to a single Lender) shall not be obliged to participate in the making of Advances (including Revolving Facility Advances) or in the issue or counter-guarantee in respect of Documentary Credits or in the provision of Ancillary Facilities on or after the date upon which the Facility Agent receives the relevant notice of intention to repay such Lender’s share of the Outstandings, on which date all of such Lender’s Available Commitments shall be cancelled and all of its Commitments shall be reduced to zero.
Right of prepayment and cancellation. If any Borrower is required to pay or is notified by any Bank in writing that it will be required to pay any amount to a Bank under Clause 12 (Taxes) or Clause 15 (Increased Costs), or if circumstances exist such that a Borrower will be required to pay any amount to a Bank under Clause 12 (Taxes), the Parent may, whilst the circumstances giving rise or which will give rise to the requirement continue, serve a notice of prepayment and cancellation on that Bank through the Agent. On the date falling three Business Days after the date of service of the notice:
(a) each Borrower shall prepay all outstanding Advances made to it by that Bank;
(b) each Borrower shall perform its obligations under Clause 8.3 (Payment of Bills) in respect of all outstanding Bills accepted by that Bank as if such third Business Day were the Maturity Date of each of those Bills; and
(c) the Bank's Tranche A Commitment, and its Tranche B Commitment (including its Swingline Commitment (if any)) shall be permanently cancelled on the date of service of the notice. -------------------------------------------------------------------------------- --------------------------------------------------------------------------------
Right of prepayment and cancellation. If any Borrower is required to pay or is notified by any Bank in writing that it will be required to pay any amount to a Bank under Clause 10 (Taxes) or Clause 12 (Increased Costs), or if circumstances exist such that a Borrower will be required to pay any amount to a Bank under Clause 10 (Taxes), the Parent may, whilst the circumstances giving rise or which will give rise to the requirement continue, serve a notice of prepayment and cancellation on that Bank through the Agent. On the date falling five Business Days after the date of service of the notice:
7.7.1 each Borrower shall prepay all outstanding Advances made to it by that Bank; and
7.7.2 the Bank’s Commitment (including its (and its Swingline Affiliates’) Swingline Commitments (if any)) shall be permanently cancelled on the date of service of the notice.
Right of prepayment and cancellation. If:
(a) any Borrower is required to pay or is notified by any Lender in writing that it will be required to pay any amount to a Lender under Clause 10 (Taxes) or Clause 12 (Increased Costs); or
(b) if circumstances exist such that a Borrower will be required to pay any amount to a Lender under Clause 10 (Taxes); or
(c) any Lender notifies the Agent pursuant to Clause 8.1(c) (Interest Rate for all Advances) that they incur Reserve Asset Costs of the type referred to under paragraph (b) of the definition thereof, Vodafone may, whilst (in the case of paragraphs (a) and (b) above) the circumstances giving rise or which will give rise to the requirement continue or, (in the case of paragraph (c) above) such Reserve Asset Costs are greater than zero, serve a notice of prepayment and cancellation on that Lender through the Agent. On the date falling five Business Days after the date of service of the notice: Back to Index
(i) each Borrower will prepay the participations of that Lender in all outstanding Advances made to that Borrower; and
(ii) the Lender's Commitments shall be permanently cancelled on the date of service of the notice.
Right of prepayment and cancellation. If:
(a) any Borrower is required to pay or is notified by any Lender in writing that it will be required to pay any amount to a Lender under Clause 11 (Taxes) or Clause 13 (Increased Costs); or
(b) if circumstances exist such that a Borrower will be required to pay any amount to a Lender under Clause 11 (Taxes); or
(c) any Lender notifies the Agent pursuant to Clause 9.1(c) (Interest rate for all Advances) that they incur Reserve Asset Costs of the type referred to under paragraph (b) of the definition thereof, Vodafone may, whilst (in the case of paragraphs (a) and (b) above) the circumstances giving rise or which will give rise to the requirement continue or, (in the case of paragraph (c) above) such Reserve Asset Costs are greater than zero, serve a notice of prepayment and cancellation on that Lender through the Agent. On the date falling five Business Days after the date of service of the notice:
(i) each Borrower will prepay the participations of that Lender in all outstanding Advances made to that Borrower; and
(ii) the Lender’s Commitments shall be permanently cancelled on the date of service of the notice.
(d) If any Lender becomes a Defaulting Lender, Vodafone may, at any time whilst the Lender continues to be a Defaulting Lender, give the Agent five Business Days’ notice of cancellation of each Available Commitment of that Lender.
(e) On the notice referred to in paragraph (d) above becoming effective, each Available Commitment of the Defaulting Lender shall immediately be reduced to zero.
(f) The Agent shall as soon as practicable after receipt of a notice referred to in paragraph (e) above, notify all the Lenders.
Right of prepayment and cancellation. If any Borrower is required to pay or is notified by any Bank in writing that it will be required to pay any amount to a Bank under Clause 10 (Taxes) or Clause 12 (Increased Costs), or if circumstances exist such that a Borrower will be required to pay any amount to a Bank under Clause 10 (Taxes), the Borrowers’ Agent may, whilst the circumstances giving rise or which will give rise to the requirement continue, serve a notice of prepayment and cancellation on that Bank through the Agent. On the date falling five Business Days after the date of service of the notice:
(a) each Borrower shall prepay all outstanding Advances made to it by that Bank; and
(b) the Bank’s Commitment (including its Swingline Commitments (if any)) shall be permanently cancelled on the date of service of the notice.
Right of prepayment and cancellation. If any Borrower is required to pay any amount to a Lender under Clauses 13, 14 or 15 the Obligors' Agent may, while the circumstances giving rise to the requirement continue, serve a notice of prepayment and cancellation on that Lender through the Facility Agent. On the date falling ten Business Days after the date of service of the notice:
(a) each Borrower shall prepay that Lender's participation in any Utilisation (including any participation or liability through the operation of Clause 5.7) made to it together with all other amounts payable by it to that Lender under this Agreement; and
(b) such Lender's Commitments in the relevant Facility shall be cancelled (but without prejudice to such Lender's obligations under Clause 5.7).
Right of prepayment and cancellation or replacement of a Lender
(a) Borrowers’ Agent may give notice to the Facility Agent requesting prepayment and cancellation in respect of a Lender in accordance with sub-paragraph (c) or, subject to sub-paragraph (1), replacement of that Lender in accordance with sub-paragraph (b) below if:
(i) (A) the Borrowers are, or will be, required to pay to a Lender a Tax Payment or an Increased Cost; or
Right of prepayment and cancellation in relation to a single Lender
(a) If any Lender claims indemnification from the Borrower under clause 13.1 (Increased costs) the Borrower may, subject to sub-clause (c) below, whilst the circumstance giving rise to the requirement or indemnification continues give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the prepayment of that Lender's participation in the Loans.
(b) On receipt of a notice referred to in sub-clause (a) above, the Commitment of that Lender shall immediately be reduced to zero.
(c) Any notice of prepayment given by the Borrower under sub-clause (a) above shall only be valid if accompanied by evidence satisfactory to the Agent that all Authorisations necessary or desirable in connection with the proposed prepayment have been obtained and are in full force and effect.
(d) On the last day of each Interest Period which ends after the Borrower has given notice under sub-clause (a) above (or, if earlier, the date specified by the Borrower in that notice), the Borrower shall prepay that Lender’s participation in that Loan.