Common use of Cancelation by Foreign Subsidiary Borrower Clause in Contracts

Cancelation by Foreign Subsidiary Borrower. The Foreign Subsidiary Borrower to which an Ancillary Facility has been made available shall be permitted at any time to request the cancelation of all or a portion of such Ancillary Facility by delivery of a notice in writing to the Administrative Agent and the applicable Ancillary Lender, specifying the Ancillary Facility to be canceled and the proposed cancelation date. Such notice shall be delivered not less than five Business Days prior to the proposed cancelation date. Such cancelation shall be effective as of the proposed cancelation date unless the Ancillary Facility Exposure under such Ancillary Facility has not been reduced to zero as of such date.