No Further Availability Sample Clauses
The "No Further Availability" clause establishes that, after a certain point or under specified conditions, no additional funds, credit, or resources will be made available under the agreement. In practice, this means that once a loan facility is fully drawn or a deadline passes, the borrower cannot request further advances or extensions. This clause serves to clearly define the limits of the parties' obligations, preventing misunderstandings and ensuring that the lender is not required to provide more resources than originally agreed.
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No Further Availability. A Lender for whose account a cancellation is to be made under Clause 7.4 (Notice of Removal of a Lender) shall not be obliged to participate in any Letter of Credit on or after the date upon which the Agent receives the Borrower’s notice of its intention to procure the cancellation of such Lender’s share of the Outstandings, and such Lender’s Available Commitment under the Facility shall be reduced to zero.
No Further Availability. A Bank for whose account a repayment is to be made under Clause 8.3 (Notice of Removal of a Bank) shall not be obliged to participate in the making of any Letter of Credit on or after the date upon which the Agent receives the Account Party's notice of its intention to procure the repayment of such Bank's share of the Outstandings, and such Bank's Available Commitment shall be reduced to zero.
No Further Availability. A Lender whose Commitment is to be cancelled under Clause 8.4 (Notice of Removal of a Lender) shall not be obliged to participate in any Letter of Credit on or after the date upon which the Agent receives the Original Borrower’s notice of its intention to cancel such Commitment, and such Lender’s Available Commitment shall be reduced to zero.
No Further Availability. A Lender for whose account a repayment is to be made under Clause 13.6 (Notice of Removal of a Lender) shall not be obliged to participate in the making of Advances on or after the date upon which the Agent receives a ▇▇▇▇▇▇▇▇’s notice of its intention to procure the repayment of such ▇▇▇▇▇▇’s share of the Outstandings, and such ▇▇▇▇▇▇’s Available Term Commitment and Available Revolving Commitment shall be reduced to zero.
No Further Availability. A Bank for whose account a repayment is to be made under Clause 15.6 (Repayment of a Bank's or a Fronting Bank's Share of the Outstandings) shall not be obliged to participate in the making of Advances or the issue of any Letter of Credit on or after the date upon which the Facility Agent receives the Parent's notice of its intention to procure the repayment of such Bank's share of the Outstandings, and such Bank's Available Commitment shall be reduced to zero.
No Further Availability. A Lender whose total aggregate liabilities under each Letter of Credit have been reduced to zero or Cash Collateralised pursuant to clause 11.4 (Notice of Removal of a Lender) or have been Cash Collateralised pursuant to clause 11.2 (Voluntary Cash Collateralisation of Letters of Credit) shall not be obliged to participate in any Letter of Credit issued on or after the date upon which the Facility Agent receives the Account Party’s notice of its intention to procure the repayment of or provide Cash Collateral in respect of such Lender’s share of the Outstandings, and such Lender’s Available Commitment shall be reduced to zero.