Common use of Cancellation of Commitment and Prepayment Clause in Contracts

Cancellation of Commitment and Prepayment. The Borrower may, without penalty or premium, at any time during the term of this Agreement upon three (3) Business Days prior written notice substantially in the form of Schedule A, cancel all of the Total Commitment or any portion thereof in minimum amounts of Cdn. $10,000,000 and whole multiples of Cdn. $1,000,000 thereafter if, on or prior to the last day of such notice period, the Borrower has: (a) prepaid or otherwise reduced the Borrowings outstanding to each Lender in an amount equal to the amount by which the Borrowings outstanding to such Lender would otherwise be in excess of such Lender’s Commitment immediately after the reduction of the Total Commitment provided for in such notice; and (b) paid all accrued interest and other charges and fees in respect of the Borrowings being repaid or reduced as aforesaid. Any such notice of cancellation is irrevocable and the amount of the Commitment of each Lender so cancelled and reduced may not be reinstated hereunder. Notwithstanding the foregoing, the Borrower shall be entitled to exercise its rights under this Section 4.3 in respect of the Commitment of all Lenders who have the same Maturity Date without being required to concurrently cancel the Commitments of any other Lenders.

Cancellation of Commitment and Prepayment. The Borrower may, without penalty or premium, at any time during the term of this Agreement upon three (3) Business Days prior written notice substantially in the form of Schedule AB, cancel all of the Total Commitment or any portion thereof in minimum amounts of Cdn. $10,000,000 and whole multiples of Cdn. $1,000,000 thereafter if, on or prior to the last day of such notice period, the Borrower has: (a) prepaid or otherwise reduced the Borrowings outstanding to each Lender in an amount equal to the amount by which the Borrowings outstanding to such Lender would otherwise be in excess of such Lender’s 's Commitment immediately after the reduction of the Total Commitment provided for in such notice; and (b) paid all accrued interest and other charges and fees in respect of the Borrowings being repaid or reduced as aforesaid. Any such notice of cancellation is irrevocable and the amount of the Commitment of each Lender so cancelled and reduced may not be reinstated hereunder. Notwithstanding the foregoing, the Borrower shall be entitled to exercise its rights under this Section 4.3 in respect of the Commitment of all Lenders who have the same Maturity Date without being required to concurrently cancel the Commitments of any other Lenders.

Cancellation of Commitment and Prepayment. The Borrower may, without penalty or premium, at any time during the term of this Agreement upon three (3) Business at least 3 Banking Days prior written notice substantially in to the form of Schedule AAdministrative Agent, cancel all of the Total Commitment Credit or any portion thereof in minimum amounts of Cdn. $10,000,000 5,000,000 and whole multiples of in Cdn. $1,000,000 thereafter if, multiples thereof by cancelling the Commitment of each Lender in an amount equal to such Lender's Proportionate Share of the Credit; provided that on or prior to the last day of such notice period, period the Borrower has: (a) prepaid or otherwise reduced the Borrowings Advances outstanding to each such Lender in an amount equal to the amount by which the Borrowings Advances outstanding to such Lender would otherwise be in excess of such Lender’s its respective Commitment immediately after the reduction of the Total Commitment Commitments provided for in such notice; and (b) paid all accrued interest and other charges and fees in respect of the Borrowings Advances being repaid or reduced as aforesaidaforesaid (including without limitation, amounts payable pursuant to Section 13.12). Any such notice of cancellation is irrevocable and the amount of the each Lender's Commitment of each Lender so cancelled and reduced may not be reinstated hereunder. Notwithstanding the foregoingFor greater certainty, the Borrower shall only be entitled to exercise its rights under this Section 4.3 in respect of cancel the Commitment of all Lenders who have any Lender under this Agreement if at such time, the Borrower also cancels the same Maturity Date without being required to concurrently cancel Proportionate Share of the Commitments of any other all of the Lenders.