Common use of Optional facility cancellation Clause in Contracts

Optional facility cancellation. The Borrowers shall be entitled upon giving to the Agent not less than 5 Business Days prior written notice (the “Cancellation Notice”), which notice shall be irrevocable and shall, at the option of the Borrowers, specify whether such cancellation will apply to a specific Advance, in which case the Borrowers will specify that Advance. A failure by the Borrowers to make such a designation shall result in the cancelled amount being applied proportionately between the undrawn Advance), to cancel, in whole or in part, and, if in part, by an amount not less than $500,000 (or such other amount acceptable to the Agent) or a higher multiple thereof, the undrawn balance of the Total Commitments. Upon such cancellation taking effect on expiry of a Cancellation Notice the several obligations of the Lenders to make their respective Commitments available in relation to the portion of the Total Commitments to which such Cancellation Notice relates shall terminate.

Optional facility cancellation. The Borrowers shall be entitled entitled, upon giving to the Agent not less than 5 Business Days Days' prior written notice (the “"Cancellation Notice”), ") which notice shall be irrevocable and shall, at the option of the Borrowers, specify whether such cancellation will apply to be applied against a specific AdvanceTranche, in which case the Borrowers will specify the Tranche against which that Advancecancellation should be applied. A failure by the Borrowers to make such a designation shall result in the cancelled amount cancellation being applied proportionately equally between the undrawn Advance), two Tranches to cancel, in whole or in part, and, if in part, by an amount not less than $500,000 or a higher multiple thereof (or such other amount acceptable to the Agent) or a higher multiple thereofAgent in its sole discretion), the undrawn balance of the Total Commitments. Upon such cancellation taking effect on expiry of a Cancellation Notice the several obligations of the Lenders to make their respective Commitments available in relation to the portion of the Total Commitments to which such Cancellation Notice relates shall terminate.

Optional facility cancellation. The Borrowers shall be entitled entitled, upon giving to the Agent not less than 5 Business Days Days' prior written notice (the “"Cancellation Notice”), ") which notice shall be irrevocable and shall, at the option of the Borrowers, specify whether such cancellation will apply to be applied against a specific AdvanceTranche, in which case the Borrowers will specify the Tranche against which that Advancecancellation should be applied. A failure by the Borrowers to make such a designation shall result in the cancelled amount cancellation being applied proportionately equally between the undrawn Advance), three Tranches to cancel, in whole or in part, and, if in part, by an amount not less than $500,000 or a higher multiple thereof (or such other amount acceptable to the Agent) or a higher multiple thereofAgent in its sole discretion), the undrawn balance of the Total Commitments. Upon such cancellation taking effect on expiry of a Cancellation Notice the several obligations of the Lenders to make their respective Commitments available in relation to the portion of the Total Commitments to which such Cancellation Notice relates shall terminate.

Optional facility cancellation. The Borrowers shall be entitled upon giving to the Agent not less than 5 Business Days prior written notice (the “Cancellation Notice”), which notice shall be irrevocable and shall, at the option of the Borrowers, specify whether such cancellation will apply to a specific AdvanceTranche, in which case the Borrowers will specify that AdvanceTranche. A failure by the Borrowers to make such a designation shall result in the cancelled amount being applied proportionately between the undrawn AdvanceTranches), to cancel, in whole or in part, and, if in part, by an amount not less than $500,000 (or a higher multiple thereof or such other amount acceptable to the Agent) or a higher multiple thereof, the undrawn balance of the Total Commitments. Upon such cancellation taking effect on expiry of a Cancellation Notice the several obligations of the Lenders to make their respective Commitments available in relation to the portion of the Total Commitments to which such Cancellation Notice relates shall terminate.