Common use of Cancellation or Reduction of Lenders' Commitment Clause in Contracts

Cancellation or Reduction of Lenders' Commitment. The Trust may, in its absolute discretion, upon three (3) Business Days' prior written notice to the Liquidity Agent, cancel or reduce the Lenders' Commitment in whole at any time or in part from time to time, provided that any partial cancellation or reduction shall be for a minimum amount of Cdn. $1,000,000 or integral multiples thereof and provided further that the Lenders' Commitment after giving effect to any such cancellation or reduction shall be equal to or greater than the aggregate face amount of any Notes then outstanding.

Appears in 4 contracts

Samples: Liquidity Agreement, Note Liquidity Agreement, Note Liquidity Agreement

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.