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.
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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. 5.4.2 If the Borrower becomes obliged to pay any tax or other amount for the account of any Lender under Clause 11.2 or 12.2 or the Facility Agent gives a notification on behalf of any Lender under Clause 11.4, the Borrower may cancel all (but not part only) of that Lender's Commitment without premium penalty or cancellation fee at any time within the
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). 7.15.2 Any notice of cancellation shall be irrevocable and shall specify the date on which the cancellation shall take effect and the amount of the cancellation. The Facility Agent shall promptly notify the Banks (other than, prior to the Senior Discharge Date, the Term D Lender) of receipt of any such notice. 7.15.3 The Borrowers may not utilise any part of the Term Loan Facility or the Revolving Credit Facility which has been cancelled. Any cancellation of the Term Loan Facility or the Revolving Credit Facility shall reduce each Bank's Term A Loan Commitment, Term B Loan Commitment, Term C Loan Commitment, or as the case may be, the Revolving Credit Commitment rateably, and shall reduce the aggregate maximum amount of the relevant Term Loan Facility or, as the case may be, Revolving Credit Facility Limit by the aggregate amount so cancelled. 7.15.4 Dynea may not cancel all or part of the Term Loan Facilities or the Revolving Credit Facility except as expressly provided in this Agreement.
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. (b) Prior to being entitled to cancel any undrawn Commitments under the Term Facilities or the Cash Bridge Facility the Parent shall be required to demonstrate to the satisfaction of the Facility Agent that it has and will continue to have sufficient working capital facilities available to the Group.
Sample 1
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

Related to CANCELLATION OF FACILITIES

  • Termination of Facilities Declare the principal of and interest on the Loans, the Notes and the Reimbursement Obligations at the time outstanding, and all other amounts owed to the Lenders and to the Administrative Agent under this Agreement or any of the other Loan Documents (including, without limitation, all L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented or shall be entitled to present the documents required thereunder) and all other Obligations (other than Hedging Obligations), to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or the other Loan Documents to the contrary notwithstanding, and terminate the Credit Facility and any right of the Borrower to request borrowings or Letters of Credit thereunder; provided, that upon the occurrence of an Event of Default specified in Section 12.1(j) or (k), the Credit Facility shall be automatically terminated and all Obligations (other than Hedging Obligations) shall automatically become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived, anything in this Agreement or in any other Loan Document to the contrary notwithstanding.

  • 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.

  • Termination of Facility The Borrowers may terminate this Agreement upon at least ten (10) Business Days' notice to the Agent and the Lenders, upon (a) the payment in full of the outstanding Term Loans, together with accrued interest thereon, and (b) the payment in full in cash of all reimbursable expenses and other Obligations.

  • Condition of Facilities (i) Use of the Real Property of Purchaser for the various purposes for which it is presently being used is permitted as of right under all Applicable Laws related to zoning and is not subject to “permitted nonconforming” use or structure classifications. All Improvements are in compliance with all Applicable Laws, including those pertaining to zoning, building and the disabled, are in good repair and in good condition, ordinary wear and tear excepted, and are free from latent and patent defects. To the Knowledge of Purchaser, no part of any Improvement encroaches on any real property not included in the Real Property of Purchaser, and there are no buildings, structures, fixtures or other Improvements primarily situated on adjoining property which encroach on any part of the Land. (ii) Each item of Tangible Personal Property is in good repair and good operating condition, ordinary wear and tear excepted, is suitable for immediate use in the Ordinary Course of Business and is free from latent and patent defects. No item of Tangible Personal Property is in need of repair or replacement other than as part of routine maintenance in the Ordinary Course of Business. Except as disclosed in Schedule 5.1(l)(ii), all Tangible Personal Property used in the Purchaser Business is in the possession of Purchaser.

  • CANCELLATION OF TBS ACCESS CODE The Account Holder may cancel his TBS Access Code by giving notice to the Bank in writing or in any other manner as may be determined by the Bank, and such notice shall only be effective upon actual receipt thereof by the relevant officer-in-charge at the Bank.

  • 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.

  • No Dedication of Facilities Any undertaking by one Party to the other Party under any provision of this Agreement shall not constitute the dedication of the system or any portion thereof by the Party to the public or to the other Party, and it is understood and agreed that any such undertaking under any provision of this Agreement by a Party shall cease upon the termination of its obligations hereunder.

  • 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.

  • Inspection of Facilities In order to meet their respective obligations under this Agreement, any Party may view or inspect facilities owned by another Party. Provided that reasonable notice is given, a Party shall not unreasonably deny access to relevant facilities for viewing or inspection by the requesting Party.

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