CANCELLATION OF FACILITIES Sample Clauses

CANCELLATION OF FACILITIES. In the ev ent that the Client has obtained one or more facilities from the Bank, other than temporarily, for an indefinite period, it shall always be possible for the Bank, at any time, to reduce or withdraw such facilities. Said decision must be notified by the Bank to the Client by registered letter with advice of receipt subject to granting it a notice period of 60 days. The notice period shall take ef f ect from the date of receipt by the Client of the aforementioned letter. During said period, the relationship between the parties shall continue as usual, with the Bank nonetheless retaining the possibility of selecting the transactions that are of f ered to it. It is stipulated in particular that the Bank may, on a discounting or Dailly law basis, ref use bills and/or receivables with a term subsequent to that of the notice, for facilities maintained during said period. The same shall apply for signature commitments. As an exception to the f oregoing, and pursuant to Article L.313-12 of the French Monetary and Financial Code, the Bank shall be exempted f rom any such notice, whether the f acilities are f or a specified or unspecified period, in case of seriously reprehensible behaviour by the Client, or in the event that the Client’s status should be irretriev ably compromised. Unless otherwise decided, on expiry of the notice period, the account shall be closed as of right.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
CANCELLATION OF FACILITIES. In the event that the Client has obtained one or more facilities from the Bank, other than temporarily, for an indefinite period, it shall always be possible for the Bank, at any time, to reduce or withdraw such facilities. Said decision must be notified by the Bank to the Client by registered letter with advice of receipt subject to granting it a notice period of 60 days. The notice period shall take effect from the date of receipt by the Client of the aforementioned letter. During said period, the relationship between the parties shall continue as usual, with the Bank nonetheless retaining the possibility of selecting the transactions that are offered to it. It is stipulated in particular that the Bank may, on a discounting or Dailly law basis, refuse bills and/or receivables with a term subsequent to that of the notice, for facilities maintained during said period. The same shall apply for signature commitments. As an exception to the foregoing, and pursuant to article L. 313-12 of the French Monetary and Financial Code, the Bank shall be exempted from any such notice, whether the facilities are for a specified or unspecified period, in case of seriously reprehensible behaviour by the Client or in the event that the Client’s status should be irretrievably compromised. Unless otherwise decided, on expiry of the notice period, the account shall be closed as of right. In accordance with the regulations applicable as of the coming into effect of paragraphs I, II and III of article L. 133-44 of the French Monetary and Financial Code, the Bank shall apply measures for strong authentication of the Client when the Client: - accesses its account online under the conditions set out in the remote banking communication service contract entered into with the Bank; - initiates an electronic payment transaction; - executes a transaction through the intermediary of an online communication method likely to carry a risk of fraud in terms of payment or of any other fraudulent use. The Bank reserves the right to override the obligation to apply measures of strong authentication in the cases specifically referred to by applicable regulations and in particular the technical requirements of regulations concerning authentication and communication.
Sample 1
CANCELLATION OF FACILITIES. The Obligors’ Agent may, without premium, cancel the undrawn part of the Facilities (in respect of which no Request has been served), in whole or in part (being in a minimum amount of $25,000,000 and an integral multiple of $5,000,000) at any time provided that it has given the Facility Agent not less than ten days’ prior written notice stating the principal amount to be cancelled. During such ten day period the Obligors’ Agent may not draw or utilise all or any part of the amount the subject of such notice of cancellation. Any cancellation in part shall be applied against the relevant Commitment of each relevant Lender pro rata.
Sample 1
CANCELLATION OF FACILITIES. (a) Subject to clause 12.9(b), the Parent may cancel the Available Commitments in whole or in part or any undrawn Commitments under the Term Facilities or the Cash Bridge Facility (but, if in part, in a minimum of(pound)250,000 (or its Sterling Equivalent) and an integral multiple of(pound)50,000 (or its Sterling Equivalent)) at any time during the relevant Availability Period by giving no less than ten Business Days irrevocable notice to the Facility Agent specifying the date and amount of the proposed cancellation and, on any cancellation of the Available Commitments or the undrawn Commitments under the Term Facilities or the Cash Bridge Facility (as the case may be), the amount of the relevant Facility will reduce accordingly. Any such cancellation shall reduce each Lender's Available Commitment or Commitment under the Term Facilities or the Cash Bridge Facility on a pro rata basis and any Revolving Lender's Ancillary Limit, if any, shall be reduced accordingly.
Sample 1
CANCELLATION OF FACILITIES. 5.4.1 The Borrower may, by giving the Facility Agent not less than thirty (30) days' prior written notice, cancel any undrawn or unutilised portion of the Tranche A Facility, Tranche B[T] Facility and Tranche B[G] or any of them Provided Always that in relation to a cancellation of the Tranche B Facility, the Borrower shall submit together with the notice of cancellation evidence reasonably satisfactory to the Lenders that it has sufficient funds to complete the Project.
Sample 1
CANCELLATION OF FACILITIES. 7.15.1 Dynea may, by giving the Facility Agent not less than 5 Business Days' prior notice, cancel all or part of any undrawn Term Loan Facility or the Available Revolving Credit Facility (but if, in each case, in part, in a minimum amount of Euro 3,000,000 and an integral multiple of Euro 1,000,000).
Sample 1

Related to CANCELLATION OF FACILITIES

  • Cancellation of Agreement In the event that prior to the Closing Date (a) trading in securities on the New York Stock Exchange generally, or in securities of the Bank in particular, shall have been suspended, or minimum prices established by the New York Stock Exchange, or any new restrictions on transactions in securities shall have been established by the New York Stock Exchange or by the Commission or by any other United States Federal or State agency or by any action of the United States Congress or by executive order to such a degree as, in your judgment as the Representatives, to affect materially and adversely the marketing of the Securities or (b) existing financial, political or economic conditions in Europe, the United States or elsewhere shall have undergone any change which, in your judgment as the Representatives, would materially and adversely affect the market for the Securities, this Agreement and all obligations of the Underwriters hereunder may be canceled at, or at any time prior to, the Closing Date by you, as the Representatives, without liability on the part of any Underwriter to the Bank or of the Bank to any Underwriter, subject to Section 11(e). Notice of such cancellation shall be given to the Bank in writing, or by cable or telephone confirmed in writing.

  • Cancellation of Notes Any Person that receives a Note surrendered for payment, registration of transfer, exchange or redemption will deliver the Note to the Indenture Trustee and the Indenture Trustee will promptly cancel it. The Issuer may surrender to the Indenture Trustee for cancellation Notes previously authenticated and delivered under this Indenture which the Issuer may have acquired, and the Indenture Trustee will promptly cancel them. No Notes will be authenticated in place of or in exchange for Notes cancelled as stated in this Section 2.10. The Indenture Trustee may hold or dispose of cancelled Notes according to its standard retention or disposal policy unless the Issuer directs, by Issuer Order, that they be destroyed or returned to it.

  • Cancellation of Debt The Borrower shall not cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.

  • Cancellation and Destruction of ADRs All ADRs surrendered to the Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy ADRs in certificated form so cancelled in accordance with its customary practices.

  • Cancellation of Commitments The Commitments in respect of any Tranche which are unutilised at the end of the Availability Period for such Tranche shall then be cancelled.

  • Cancellation and Destruction All Debentures shall forthwith after payment thereof be delivered to the Trustee and cancelled by it. All Debentures cancelled or required to be cancelled under this or any other provision of this Indenture shall be destroyed by the Trustee and, if required by the Corporation, the Trustee shall furnish to it a destruction certificate setting out the designating numbers of the Debentures so destroyed.

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

  • Cancellation of Orders If payment for shares purchased is not received within the time customary or the time required by law for such payment, the sale may be canceled without notice or demand, and neither FTDI nor the Fund(s) shall have any responsibility or liability for such a cancellation; alternatively, at FTDI's option, the unpaid shares may be sold back to the Fund, and Bank shall be liable for any resulting loss to FTDI or to the Fund(s). FTDI shall have no liability for any check or other item returned unpaid to Bank after Bank has paid FTDI on behalf of a purchaser. FTDI may refuse to liquidate the investment unless FTDI receives the purchaser's signed authorization for the liquidation.

  • Cancellation of Warrants In the event the Company shall purchase or otherwise acquire Warrants, the same shall thereupon be cancelled and retired. The warrant agent (if so appointed) shall cancel any Warrant surrendered for exchange, substitution, transfer or exercise in whole or in part.

  • Cancellation and/or Adjustment of Global Notes At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or retained and canceled by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note will be increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!