Common use of Notice of Removal of a Bank Clause in Contracts

Notice of Removal of a Bank. If: 8.3.1 any sum payable to any Bank by the Account Party is required to be increased pursuant to Clause 9.1 (Tax Gross-up); or 8.3.2 any Bank claims indemnification from the Account Party under Clause 9.2 (Tax Indemnity) or Clause 11.1 (Increased Costs), the Account Party may, whilst such circumstance continues, give the Agent at least ten Business Days' notice (which notice shall be irrevocable) of its intention to cancel, and/or provide Cash Collateral in respect of the Commitment of such Bank.

Notice of Removal of a Bank. If: 8.3.1 9.3.1 any sum payable to any Bank by the Account Party is required to be increased pursuant to Clause 9.1 10.1 (Tax Gross-up); or 8.3.2 9.3.2 any Bank claims indemnification from the Account Party under Clause 9.2 10.2 (Tax Indemnity) or Clause 11.1 12.1 (Increased Costs), the Account Party may, whilst such circumstance continues, give the Agent at least ten Business Days' notice (which notice shall be irrevocable) of its intention to cancel, and/or provide Cash Collateral in respect of the Commitment of such Bank.

Notice of Removal of a Bank. If: 8.3.1 9.3.1 any sum payable to any Bank by the Account Party is required to be increased pursuant to Clause 9.1 10.1 (Tax Gross-up); or 8.3.2 9.3.2 any Bank claims indemnification from the Account Party under Clause 9.2 10.2 (Tax Indemnity) or Clause 11.1 12.1 (Increased Costs), the Account Party may, whilst such circumstance continues, give the Agent at least ten Business Days' ’ notice (which notice shall be irrevocable) of its intention to cancel, and/or provide Cash Collateral in respect of the Commitment of such Bank.