Common use of Effect of cancellation and prepayment on scheduled repayments and reductions Clause in Contracts

Effect of cancellation and prepayment on scheduled repayments and reductions. (a) If the Borrower cancels the whole or any part of the Commitments in accordance with Clause 7.4 (Right of cancellation and repayment in relation to a single Lender) or Clause 7.5 (Right of cancellation in relation to a Defaulting Lender) or if the Commitment of any Lender is cancelled under Clause 7.1 (Illegality) then (other than, in any relevant case, to the extent that any part of the relevant Commitment(s) so cancelled is subsequently increased pursuant to Clause 2.2 (Increase)), the amount of the repayment instalment for each Repayment Date falling after that cancellation will reduce pro rata by the amount cancelled.

Appears in 2 contracts

Samples: Facility Agreement (Baring Asia Private Equity Fund v Co-Investment L.P.), Facility Agreement (Giant Interactive Group Inc.)

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Effect of cancellation and prepayment on scheduled repayments and reductions. (a) If the Borrower Obligors’ Agent cancels the whole or any part of the Commitments any Available Commitment in accordance with Clause 7.4 11.6 (Right of cancellation and repayment in relation to a single LenderLender or Issuing Bank) or Clause 7.5 11.7 (Right of cancellation in relation to a Defaulting Lender) or if the Available Commitment of any Lender is cancelled under Clause 7.1 11.1 (Illegality) then (other than, in any relevant case, to the extent that any part of the relevant Available Commitment(s) so cancelled is subsequently increased pursuant to Clause 2.2 (Increase))) in respect of any Additional Facility Commitments or any Refinancing Facility Commitments, the amount of the repayment instalment Repayment Instalment (if any) for each Repayment Date falling after that cancellation will reduce pro rata by the amount cancelled.. 118

Appears in 1 contract

Samples: Senior Facilities Agreement (Fintrax US Acquisition Subsidiary, Inc.)

Effect of cancellation and prepayment on scheduled repayments and reductions. (a) If the Borrower Company cancels the whole or any part of the Commitments Available Commitment in relation to the Term Facility in accordance with Clause 7.4 8.5 (Right of cancellation and repayment in relation to a single Lender) or Clause 7.5 8.6 (Right of cancellation in relation to a Defaulting Lender) or if the Available Commitment of any Lender is cancelled under Clause 7.1 8.1 (Illegality) then (other than, in any relevant case, to the extent that any part of the relevant Available Commitment(s) so cancelled is subsequently increased pursuant to Clause 2.2 2.3 (Increase)), the amount of the repayment instalment for each Repayment Date falling after that cancellation will reduce pro rata by the amount cancelled.

Appears in 1 contract

Samples: Agreement (Alliance Data Systems Corp)

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Effect of cancellation and prepayment on scheduled repayments and reductions. (a) If the Borrower cancels the whole or any part of the Commitments any Available Commitment in accordance with Clause 7.4 7.9 (Right of replacement or repayment and cancellation and repayment in relation to a single Lender) or Clause 7.5 (Right of cancellation in relation to a Defaulting Lender) or if the an Available Commitment of any Lender is cancelled under Clause 7.1 (Illegality) then then: (other than, i) in any relevant case, to the extent that any part case of the relevant Commitment(sTerm Commitments, the Repayment Instalments falling after that cancellation will reduce pro rata by the amount of the Term Commitments so cancelled; and (ii) so cancelled is subsequently increased pursuant to Clause 2.2 (Increase))in the case of the Revolving Commitments, the amount of the repayment instalment Reduction Instalment for each Repayment Reduction Date falling after that cancellation will reduce pro rata by the amount of the Revolving Commitments so cancelled.

Appears in 1 contract

Samples: Euronav NV

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