Uncommitted Facilities Clause Samples

Uncommitted Facilities. Unless otherwise expressly stated in the relevant Facility Document, the Customer acknowledges and agrees that, notwithstanding any other provision hereof, the Facilities are uncommitted facilities. In this regard, the Customer agrees that at any time, and from time to time, if the Bank determines such to be necessary or appropriate, the Bank may decline to extend the Facilities and/or require deposit into the Special Account of an amount equal to the outstanding Obligations (including Contingent Liabilities). The Bank may also demand immediate payment or repayment or prepayment of a part or all of the Facility regardless of whether it is due or not together with interest and fees accrued up to then. Further, the Customer acknowledges and agrees that the Bank’s taking delivery of and /or execution of this Agreement does not constitute the Bank's commitment to extend Facilities, and the Bank has the right to decide at its discretion whether or not to provide any facility to the Customer.

Uncommitted Facilities. The Facilities are made available until further notice (dagelijks opzegbaar). The availability of a Facility, including the making of a Loan, the issue or renewal of a Letter of Credit, the making available of a Utilisation by way of Overdraft and the making available of any Pre-settlement Facility, shall be entirely and solely at the discretion of the Lenders. Without prejudice to the uncommitted nature of the Facilities and to the preceding sentence, the availability of a Facility, including the making of a Loan, the issue or renewal of a Letter of Credit, the making available of a Facility 1 Utilisation by way of Overdraft and the making available of any Pre- settlement Facility, is in any event subject to the following conditions: (a) the Lenders shall be satisfied that no Default has occurred; (b) the Facility Agent has not received a notice from any Obligor in accordance with Clause 21.6 (Notification of default); (c) the representations and warranties in Clause 20 (Representations) are true and accurate as of the date of the relevant Utilisation Request and on the proposed Utilisation Date, as if made on each such date with reference to the facts and circumstances then subsisting; and (d) each Lender has received and found to be satisfactory to it in all respects, such further opinions, consents, agreements and documents in connection with the Finance Documents as it may request prior to the date of the relevant Utilisation Request and on the proposed Utilisation Date.