Prepayment and Cancellation. 10.1 Mandatory prepayment — illegality (a) A Lender must notify the Facility Agent promptly if it becomes aware that it is unlawful in any applicable jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan. (b) After notification under paragraph (a) above the Facility Agent must notify the Company promptly that: (i) each Borrower must repay or prepay the share of that Lender in each Loan made to it on the date specified in paragraph (c) below; and (ii) the Commitment of that Lender will be immediately cancelled. (c) The date for repayment or prepayment of a Lender’s share in a Loan will be: (i) the last day of the current Term of that Loan; or (ii) if earlier, the date specified by the Lender in the notification under paragraph (a) above and which must not be earlier than the last day of any applicable grace period allowed by law.
Appears in 3 contracts
Samples: Credit Facilities Agreement (Amec PLC), Credit Facilities Agreement (Amec PLC), Credit Facilities (Amec PLC)
Prepayment and Cancellation. 10.1 8.1 Mandatory prepayment — illegality
(a) A Lender must notify the Facility Agent promptly if it becomes aware that it is unlawful in any applicable jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan.
(b) After notification under paragraph (a) above the Facility Agent must notify the Company promptly that:
(i) each Borrower must repay or prepay the share of that Lender in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment of that Lender will be immediately cancelled.
(c) The date for repayment or prepayment of a Lender’s share in a Loan will be:
(i) the last day of the current Term of that Loan; or
(ii) if earlier, the date specified by the Lender in the notification under paragraph (a) above and which must not be earlier than the last day of any applicable grace period allowed by law.
Appears in 2 contracts
Samples: Credit Facilities Agreement (Amec PLC), Credit Facilities Agreement (Amec PLC)
Prepayment and Cancellation. 10.1 11.1 Mandatory prepayment — illegality
(a) A Lender must notify the Facility Agent and the Company promptly if it becomes aware that it is unlawful in any applicable jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan.
(b) After notification under paragraph (a) above the Facility Agent must notify the Company promptly thatand:
(i) each Borrower must repay or prepay the share of that Lender in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment Commitments of that Lender will be immediately cancelled.
(c) The date for repayment or prepayment of a Lender’s share in a Loan will be:
(i) the last day of the current Term of that Loan; or
(ii) if earlier, the date specified by the Lender in the notification under paragraph (a) above and which must not be earlier than the last day of any applicable grace period allowed by law.
Appears in 2 contracts
Samples: Credit Facility Agreement (Merck Kgaa /Fi), Credit Facility Agreement (E. Merck oHG)
Prepayment and Cancellation. 10.1 7.1 Mandatory prepayment — - illegality
(a) A Lender must notify the Facility Agent Company promptly if it becomes aware that it is unlawful in any applicable jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan.
(b) After Subject to Clause 13 (Mitigation) (but without limiting in any way the Company's obligation under this Clause 7.1), after notification under paragraph (a) above the Facility Agent must notify the Company promptly thatabove:
(i) each Borrower the Company must repay or prepay the share of that Lender in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment Commitments of that Lender will be immediately cancelled.
(c) The date for repayment or prepayment of a Lender’s 's share in a Loan under this Clause 7.1 will be:
(i) the last day of the current Term of that Loan; or
(ii) if earlier, the date specified by the Lender in the notification under paragraph (a) above and which must not be earlier than the last day of any applicable grace period allowed by law.
Appears in 1 contract
Samples: Credit Facility Agreement (Telesystem International Wireless Inc)
Prepayment and Cancellation. 10.1 7.1 Mandatory prepayment — - illegality
(a) A Lender must notify the Facility Agent and the Company promptly if it becomes aware that it is unlawful in any applicable jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan.
(b) After notification under paragraph (a) above the Facility Agent must notify the Company promptly that:
(i) each Borrower the Company must repay or prepay the share of that Lender in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment Commitments of that Lender will be immediately cancelled.
(c) The date for repayment or prepayment of a Lender’s share in a Loan will be:
(i) the last day of the current Term Interest Period of that Loan; or
(ii) if earlier, the date specified by the Lender in the notification under paragraph paragraph
(a) above and which must not be earlier than the last day of any applicable grace period allowed by law.
Appears in 1 contract
Samples: Term Loan Facilities Agreement
Prepayment and Cancellation. 10.1 7.1 Mandatory prepayment — illegality
(a) A Lender must notify the Facility Agent and the Company promptly if it becomes aware that it is unlawful in any applicable jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan.
(b) After notification under paragraph (a) above the Facility Agent must notify the Company promptly thatand:
(i) each Borrower must repay or prepay the share of that Lender in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment Commitments of that Lender will be immediately cancelled.
(c) The date for repayment or prepayment of a Lender’s share in a Loan will be:
(i) the last day of the current Term of that Loan; or
(ii) if earlier, the date specified by the Lender in the notification under paragraph (a) above and which must not be earlier than the last day of any applicable grace period allowed by law.
7.2 Mandatory prepayment — change of control
(a) For the purposes of this Clause:
Appears in 1 contract
Prepayment and Cancellation. 10.1 7.1 Mandatory prepayment — – illegality
(a) A Lender must notify the Facility Agent and the Company promptly if it becomes aware that it is unlawful in any applicable jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan.
(b) After notification under paragraph (a) above the Facility Agent must notify the Company promptly thateach Borrower and:
(i) each Borrower the Borrowers must repay or prepay the share of that Lender in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment of that Lender will be immediately cancelled.
(c) The date for repayment or prepayment of a Lender’s share in a Loan will be:
(i) the last day of the current Term of that Loan; or
(ii) if earlier, the date specified by the Lender in the notification under paragraph (a) above and which must not be earlier than the last day of any applicable grace period allowed by law.
Appears in 1 contract
Samples: Credit Facilities Agreement
Prepayment and Cancellation. 10.1 7.1 Mandatory prepayment — - illegality
(a) A Lender must notify the Facility Agent and the Company promptly if it becomes aware that it is unlawful in any applicable jurisdiction for that Lender to perform any of its obligations under a Finance Document or to fund or maintain its share in any Loan.
(b) After notification under paragraph (a) above the Facility Agent must notify the Company promptly thatand:
(i) each Borrower the Company must repay or prepay the share of that Lender in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment Commitments of that Lender will be immediately cancelled.
(c) The date for repayment or prepayment of a Lender’s 's share in a Loan will be:
(i) the last day of the current Term of that Loan; or
(ii) if earlier, be the date specified by the Lender in the notification under paragraph (a) above and which must above, being:
(i) a date falling not be earlier less than 30 days after the date of the notification under paragraph (a) above; or
(ii) if earlier, the last day of any applicable grace period allowed by law.
Appears in 1 contract
Samples: Term and Revolving Credit Facility Agreement (Kellwood Co)
