Right of cancellation in relation to a Defaulting Finance Party. (a) The Borrower may give the Agent five Business Days' notice of cancellation of the Available Commitment of a Lender that is, and continues to be, a Defaulting Finance Party. (b) On the notice becoming effective, the Available Commitment of the Defaulting Finance Party will reduce to zero. (c) The Agent shall notify all the Lenders as soon as practicable after receiving the notice.
Appears in 2 contracts
Samples: Loan Note Subscription Agreement (Metals Acquisition LTD), Loan Note Subscription Agreement (Metals Acquisition Corp)
Right of cancellation in relation to a Defaulting Finance Party. (a) The Borrower may give the Agent five Business 5 RFR Banking Days' notice of cancellation of the each Available Commitment of a Lender that is, and continues to be, a Defaulting Finance Party.
(b) On the notice becoming effective, the each Available Commitment of the Defaulting Finance Party will reduce to zero.
(c) The Agent shall notify all the Lenders as soon as practicable after receiving the notice.
Appears in 2 contracts
Samples: Syndicated Facility Agreement (Metals Acquisition LTD), Syndicated Facility Agreement (Metals Acquisition Corp)
