Common use of Appointment Revoked Clause in Contracts

Appointment Revoked. The requirement to draw Bills under clause 9.1 and the appointment under clause 9.2 will cease and be revoked without necessity for notice when all Advances are repaid. Nothing in clause 9.1 or 9.2 requires the Borrower or authorises any Bank as attorney to draw a Xxxx which matures after the Termination Date.

Appointment Revoked. The requirement to draw Bills under clause 9.1 and the appointment under clause 9.2 will cease and be revoked without necessity for notice when all Advances are repaid. Nothing in clause 9.1 or 9.2 requires the Borrower or authorises any Bank as attorney to draw a Xxxx Bill which matures after the Termination Date.