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.
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Validus Holdings LTD)
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 's notice of its intention to cancel such Commitment, and such Lender’s 's Available Commitment shall be reduced to zero.
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Validus Holdings LTD)
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.
Appears in 1 contract
Samples: Amendment and Restatement Agreement (Validus Holdings LTD)
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 's notice of its intention to cancel such Commitment, and such Lender’s 's Available Commitment shall be reduced to zero.
Appears in 1 contract
Samples: Standby Letter of Credit Facility Agreement (Validus Holdings LTD)
