Common use of Right of Replacement or Repayment and Cancellation Clause in Contracts

Right of Replacement or Repayment and Cancellation. in relation to a Single Lender), the Lender shall act in accordance with Clause 15.1 (Mitigation). To the extent no alternative arrangements have been agreed in accordance with Clause 15.1 (Mitigation), the Borrower shall repay that Lxxxxx's participation in the Loans on the last day of the Interest Period for each Loan occurring after the Agent has so notified the Borrower or, if earlier, the date specified by the Lender in the notice delivered to the Agent pursuant to paragraph (a) above (being no earlier than the last day of any applicable grace period permitted by law) and that Lxxxxx's corresponding Commitment shall be cancelled in the amount of the participations repaid.

Right of Replacement or Repayment and Cancellation. in relation to a Single Lender), the Lender shall act in accordance with Clause 15.1 (Mitigation). To the extent no alternative arrangements have been agreed in accordance with Clause 15.1 (Mitigation), the Borrower shall repay that LxxxxxXxxxxx's participation in the Loans on the last day of the Interest Period for each Loan occurring after the Agent has so notified the Borrower or, if earlier, the date specified by the Lender in the notice delivered to the Agent pursuant to paragraph (a) above (being no earlier than the last day of any applicable grace period permitted by law) and that LxxxxxXxxxxx's corresponding Commitment shall be cancelled in the amount of the participations repaid.