Common use of Change of Sublimits Clause in Contracts

Change of Sublimits. If, under the Credit Facility Agreement, the Multiproduct Facility is made available for two or more Borrowers for which Sublimits were established and the sum of Credit Facilities drawn related to the Products, denominated in the equivalent of the Reference Currency, exceeds one or more of the established Sublimits, the Bank shall notify the Borrowers in view of executing an addendum to agree on new Sublimits, so that the value of drawn Credit Facilities would be at most equal to the value of the new Sublimits. If the Parties do not execute the addendum to the Credit Facility Agreement within 10 (ten) Business Days as of receipt of Bank’s notice, the Bank is entitled to reallocate (at its absolute discretion) the initial Sublimits so that the aggregate value of the drawn Credit Facilities, denominated in the equivalent of the Reference Currency, would be at most equal to the established Sublimits.

Change of Sublimits. If, under the Credit Facility Agreement, the Multiproduct Facility is made available for two or more Borrowers for which Sublimits were established and the sum of Credit Facilities drawn related to the Products, denominated in the equivalent of the Reference Currency, exceeds one or more of the established Sublimits, the Bank shall notify the Borrowers in view of executing an addendum to agree on new Sublimits, so that the value of drawn Credit Facilities would be at most equal to the value of the new Sublimits. If the Parties do not execute the addendum to the Credit Facility Agreement within 10 (ten) Business Days as of receipt of Bank’s 's notice, the Bank is entitled to reallocate (at its absolute discretion) the initial Sublimits so that the aggregate value of the drawn Credit Facilities, denominated in the equivalent of the Reference Currency, would be at most equal to the established Sublimits.