CANCELLATION OF CREDIT Sample Clauses

CANCELLATION OF CREDIT. If no Card Transactions are made from Your Account within 30 days of the date on which this agreement is made, We reserve the right to terminate this agreement. If We do, the Annual Fee will be refunded to You. Once the agreement has terminated, as long as no Credit has been used by You, any debt owed by You to APS and/or AFL under this agreement shall fall away. You shall have no redemption rights over the Credit.
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CANCELLATION OF CREDIT. The Borrower may, upon three Banking Days ---------------------- prior written notice to the Agent, permanently cancel the Unutilized Portion of the Credit in whole or from time to time in part, provided that any partial cancellation must be in a minimum amount of Cdn. $5,000,000 or any larger multiple of $1,000,000. (I) Section 10.4 is amended to read as follows:
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CANCELLATION OF CREDIT. 11 3.8 Intentionally deleted............................................ 11 3.9
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CANCELLATION OF CREDIT. The Borrower may, upon five Banking Days ---------------------- prior written notice to the Agent, permanently cancel the Credit in whole or from time to time in part provided that the Borrower concurrently reduces, in accordance with Section 3.5, the Utilized Portion of the Credit so that such Utilized Portion does not exceed the reduced amount of the Credit.
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CANCELLATION OF CREDIT. THE BANK may, by notice to THE BORROWER, cancel the undisbursed portion of the Credit at any time and with immediate effect: (a) following the occurrence of any event mentioned in Article 11.01(A) or (B); or (b) if exceptional circumstances shall arise which adversely and materially affect THE BANK's access to national or relevant international capital markets; provided that THE BANK shall not be entitled to cancel, on grounds of case (b), any Tranche which has been the subject of a Disbursement Notice. Alternatively, if THE BANK is of the opinion that a situation described in case (a) or (b) has arisen and is temporary, it may by notice to THE BORROWER suspend the undisbursed portion of the Credit. In such case, the suspension shall continue until THE BANK notifies THE BORROWER (which it shall do as soon as reasonably possible) that it is again in a position to issue a Disbursement Notice. The Credit shall be considered as cancelled if THE BANK demands repayment under Article 11. If the Credit is cancelled by reason of the circumstances mentioned under case (a) above, THE BORROWER shall pay commission on the cancelled amount in respect of which a Disbursement Notice has been issued at an annual rate of 0.75% calculated from the date of the relevant Request to the date of cancellation. Such commission shall be payable in addition to any commission payable under Article 1.05 or 1.06.
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Related to CANCELLATION OF CREDIT

  • Cancellation of Commitment The Commitments which, at that time, are unutilised shall be immediately cancelled at the end of the Availability Period.

  • Termination of Credit Facility The Credit Facility shall terminate on the earliest of (a) the third anniversary of the Closing Date (the "Maturity Date"), (b) the date of termination by the Borrower pursuant to Section 2.5(a) and (c) the date of termination by the Administrative Agent on behalf of the Lenders pursuant to Section 10.2(a).

  • Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.

  • Application of credit balances Each Creditor Party may without prior notice: (a) apply any balance (whether or not then due) which at any time stands to the credit of any account in the name of the Borrower at any office in any country of that Creditor Party in or towards satisfaction of any sum then due from the Borrower to that Creditor Party under any of the Finance Documents; and (b) for that purpose: (i) break, or alter the maturity of, all or any part of a deposit of the Borrower; (ii) convert or translate all or any part of a deposit or other credit balance into Dollars; (iii) enter into any other transaction or make any entry with regard to the credit balance which the Creditor Party concerned considers appropriate.

  • Ratification of Credit Agreement Each Loan Party acknowledges and consents to the terms set forth herein and agrees that this Amendment does not impair, reduce or limit any of its obligations under the Loan Documents, as amended hereby. This Amendment is a Loan Document.

  • Voluntary cancellation The Borrower may, if it gives the Agent not less than five (5) Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, cancel the whole or any part (being a minimum amount of £1,000,000) of an Available Facility. Any cancellation under this Clause 7.2 shall reduce the Commitments of the Lenders rateably under that Facility.

  • Reduction of Commitments The Parent shall have the right, upon at least three Business Days’ irrevocable notice to the Administrative Agent (or such later time as may be reasonable acceptable to the Administrative Agent), to terminate in whole or reduce ratably in part the unused portion of the Revolving Commitments; provided that each partial reduction shall be in the aggregate amount of $10,000,000 and in integral multiples of $1,000,000 in excess thereof. Any reduction or termination of the Revolving Commitments pursuant to this Section shall be permanent, with no obligation of the Revolving Lenders to reinstate such Revolving Commitments, and the Commitment Fees shall thereafter be computed on the basis of the Revolving Commitments, as so reduced. To the extent that a Revolving Commitment reduction would result in the Revolving Outstanding Amount exceeding the aggregate Revolving Commitments, the Borrowers shall reduce the Revolving Outstanding Amount such that after giving effect to such reduction such excess has been eliminated. Such reductions shall be made to the extent necessary by first prepaying the Revolving Advances outstanding at such time, and second depositing in the Cash Collateral Account an amount of cash equal to 100% of the remaining excess to be held by the Administrative Agent as collateral and applied to satisfy drawings under Letters of Credit as they occur. If after giving effect to any reduction of the Revolving Commitments under this Section, either the Aggregate Letter of Credit Sublimit or the Swingline Sublimit exceeds the aggregate Revolving Commitments as so reduced, the Aggregate Letter of Credit Sublimit, the Swingline Sublimit or both, as the case may be, shall be automatically reduced by the amount of such excess.

  • CANCELLATION OF CONTRACT The Division of Procurement Services reserves the right to cancel a contract with a thirty-day written notice OR cancel immediately if the contractor does not conform to terms and conditions and specifications of contract.

  • Initial Extension of Credit The obligation of Lender to make the initial Advance or issue the initial Letter of Credit is subject to the condition precedent that Lender will have received on or before the day of such Advance or issuance of such Letter of Credit all of the following, each dated (unless otherwise indicated) the Closing Date, in form and substance satisfactory to Lender:

  • Termination of Commitments Declare the Commitments terminated whereupon the Commitments shall be immediately terminated.

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