Cancellation after expiry of the Credit Sample Clauses

Cancellation after expiry of the Credit. On the day following the Final Availability Date, and unless otherwise specifically agreed to in writing by the Bank, any part of the Credit in respect of which no Disbursement Acceptance has been received in accordance with Article 2.2.3 (Disbursement Acceptance) shall be automatically cancelled, without any notice being served by the Bank to the Borrower.
Sample 1Sample 2Sample 3See All (34)
AutoNDA by SimpleDocs
Cancellation after expiry of the Credit. Any time following the expiry of a period of 4 (four) months after the Final Availability Date, the Bank may by notice to the Borrower and without liability arising on the part of either party, cancel any part of the Credit in respect of which no Disbursement Acceptance has been made in accordance with Article 1.02C.
Sample 1
Cancellation after expiry of the Credit. 21 1.08 UP-FRONT FEE......................................................................................................................21 1.09 NON-UTILISATION FEE......................................................................................................21 1.10 SUMS DUE UNDER ARTICLE 1..........................................................................................22 ARTICLE 2...........................................................................................................................................22 2.01 AMOUNT OF LOAN..............................................................................................................22 2.02 CURRENCY OF REPAYMENT, INTEREST AND OTHER CHARGES........................22 2.03 CONFIRMATION BY THE BANK......................................................................................22 ARTICLE 3...........................................................................................................................................22 3.01A Rate of interest...........................................................................................................................22 3.01B Fixed Rate Tranches..................................................................................................................23 3.01C Floating Rate Tranches..............................................................................................................23 3.01D Revision or Conversion of Tranches.........................................................................................23
Sample 1

Related to Cancellation after expiry of the Credit

  • Termination and Reduction of the Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Termination and Reduction of Revolving Commitments (a) Unless previously terminated, the Revolving Commitments shall terminate on the Maturity Date.

  • Termination or Reduction of the Commitments (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reduction.

  • Termination and Reduction of Aggregate Maximum Credit Amounts (a) Scheduled Termination of Commitments. Unless previously terminated, the Commitments shall terminate on the Maturity Date. If at any time the Aggregate Maximum Credit Amounts are terminated or reduced to zero, then the Commitments shall terminate on the effective date of such termination or reduction.

  • Termination and Reduction of Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Reduction of the Commitments (a) The Borrower shall have the right, upon at least five Business Days’ irrevocable notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion of the Commitments; provided that each partial reduction shall be in the aggregate amount of $1,000,000 or in integral multiples of $1,000,000 in excess thereof.

  • Collateralization of Obligations Extending Beyond Maturity If Borrower has not secured to Bank’s satisfaction its obligations with respect to any Ancillary Services by the Formula Revolving Maturity Date, then, effective as of such date, the balance in any deposit accounts held by Bank and the certificates of deposit or time deposit accounts issued by Bank in Borrower’s name (and any interest paid thereon or proceeds thereof, including any amounts payable upon the maturity or liquidation of such certificates or accounts), shall automatically secure such obligations to the extent of the then continuing or outstanding Ancillary Services. Borrower authorizes Bank to hold such balances in pledge and to decline to honor any drafts thereon or any requests by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the applicable Ancillary Services are outstanding or continue.

  • Termination or Reduction of Revolving Commitments The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

Time is Money Join Law Insider Premium to draft better contracts faster.