Common use of ADDITIONAL RIGHT OF PREPAYMENT AND CANCELLATION Clause in Contracts

ADDITIONAL RIGHT OF PREPAYMENT AND CANCELLATION. If any Borrower is required to pay any amount to a Bank under Clause 11 (Taxes) or Clause 13 (Increased Costs), the Company may, whilst the circumstances giving rise to the requirement continue, serve a notice of prepayment and cancellation on that Bank through the Agent. In that event: (a) each Borrower shall prepay that Bank's participation in all the Loans made to that Borrower on the date falling 5 Business Days after the date of service of the notice together with all other amounts payable by it to that Bank under this Agreement; and (b) the Bank's Commitment shall be cancelled on the date of service of the notice.

ADDITIONAL RIGHT OF PREPAYMENT AND CANCELLATION. If any Borrower the Company is required to pay any amount to a Bank under Clause 11 13 (Taxes) or Clause 13 15 (Increased Costscosts), the Company may, whilst the circumstances giving rise to the requirement continue, serve a notice of prepayment and cancellation on that Bank through the Facility Agent. In that event:this event:- (a) each Borrower shall prepay that Bank's participation in all the Loans made to that Borrower on the date falling 5 Business Days after the date of service of the notice the Company shall prepay that Bank's participation in any Loans made to it together with all other amounts payable by it to that Bank under this Agreement; and (b) the that Bank's Commitment shall be cancelled on the date of service of the notice.