Facility Recallable on Demand Sample Clauses
A facility-recallable-on-demand clause gives the lender the right to demand repayment of a loan or credit facility at any time, without needing to provide a specific reason or advance notice. In practice, this means the borrower must be prepared to repay the outstanding balance immediately if the lender exercises this right, regardless of the original repayment schedule. This clause is commonly used in overdraft arrangements or short-term credit facilities, and it serves to protect the lender by allowing them to manage their risk exposure and respond quickly to changes in the borrower's financial situation.
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Facility Recallable on Demand. The Customer agrees that other than Tem Financing-i (which may be recalled by the Bank upon the occurrence of an Event of Default), all the other Facility may, at the Bank’s sole discretion, be cancelled or terminated and be recalled at any time by the Bank giving a written demand to the Customer. Upon such cancellation, termination and recall, the Customer is to make immediate payment to the Bank of the Indebtedness, regardless of whether the moneys and liabilities comprised in the Indebtedness have become due to be paid to the Bank.