Cancellation of Letters of Credit. The Borrower may give the Agent not less than 10 Business Days’ prior notice of its intention to procure that the liability of each Lender under any Letter of Credit is reduced to zero (whereupon it shall do so).
Appears in 5 contracts
Samples: Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/), Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/), $90,000,000 Standby Letter of Credit Facility (HCC Insurance Holdings Inc/De/)
Cancellation of Letters of Credit. The Any Borrower which has requested a Letter of Credit may give the Agent Bank not less than 10 ten (10) Business Days’ ' prior notice of its intention to procure that the Bank's liability of each Lender under any such Letter of Credit is reduced to zero (whereupon it shall do so).
Appears in 1 contract
Samples: Multicurrency Term Facility Agreement (London Pacific Group LTD)
Cancellation of Letters of Credit. The Any Revolving Borrower which has requested a Letter of Credit may give the Facility Agent not less than 10 Business Days’ ten business days' prior notice of its intention to procure that the L/C Fronting Bank's liability of each Lender under any such Letter of Credit is reduced to zero (whereupon it shall do so).
Appears in 1 contract
Samples: Loan Agreement (Getronics N V)
