Common use of Affected Banks Clause in Contracts

Affected Banks. (a) The relevant Borrower may and, where required under this Agreement shall prepay (in whole but not in part only), without premium or penalty, subject to clause 6.6, the whole of the Contributions to all the Facilities of any Affected Bank. Upon any such notice of such prepayment being given, or as provided for in clause 14.1, the Commitments of the relevant Bank to all the relevant Facilities shall be reduced to zero and the undrawn amount of the Total Commitments in respect of all the Facilities shall be reduced accordingly. (b) Instead of or, in addition to, its rights under clause 6.5 (a) the relevant Borrower may on payment of the fee under clause 16.5, without prejudice to clause 14.4, require the Affected Bank to transfer pursuant to clause 16.5 at par all of its Commitments and Contributions to a Qualifying Bank nominated by the Borrower provided that the relevant Qualifying Bank agrees (in its absolute discretion) to accept the transfer to it and, in the case of clause 14.1, that Bank is lawfully able to do so and the transfer is to take effect prior to the prepayment date specified by the Facility Agent thereunder.