Common use of Right of Cancellation Clause in Contracts

Right of Cancellation. and repayment in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under Clause 16.2(c) (Tax gross-up); or (ii) any Lender claims indemnification from the Company or an Obligor under Clause 16.3 (Tax indemnity) or Clause 17.1 (Increased costs), the Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the Utilisations. (b) On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Utilisation is outstanding shall repay that Lender’s participation in that Utilisation together with all interest and other amounts accrued under the Finance Documents.

Right of Cancellation. and repayment in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 16.2(c) 16.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Company Parent or an Obligor under Clause 16.3 (Tax indemnity) or Clause 17.1 (Increased costs), the Company Parent may, whilst the circumstance giving rise to the requirement for that increase an increased payment or indemnification continues, give the Facility Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s 's participation in the UtilisationsLoans. (b) On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Company Parent has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Company Parent in that notice), each Borrower to which a Utilisation Loan is outstanding shall repay that Lender’s 's participation in that Utilisation Loan together with all interest and other amounts accrued under the Finance Documents.

Right of Cancellation. and repayment redemption in relation to a single LenderNoteholder (a) If: (i) any sum payable to any Lender Noteholder by an Obligor is required to be increased under paragraph (c) of Clause 16.2(c) 16.2 (Tax gross-up); or (ii) any Lender Noteholder claims indemnification from the Company Issuer or an Obligor under Clause 16.3 (Tax indemnity) or Clause 17.1 (Increased costsCosts), the Company may, whilst the circumstance giving rise to such breach or the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender Noteholder and its intention to procure the repayment redemption of that Lender’s participation in the UtilisationsNotes held by it. (b) On receipt of a notice referred to in paragraph (a) above in relation to a LenderNoteholder, the Commitment of that Lender Noteholder shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Company has given notice under paragraph (a) above in relation to a Lender Noteholder (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Utilisation is outstanding the Issuer shall repay redeem that LenderNoteholder’s participation in that Utilisation Notes, together with all interest and other amounts accrued under the Finance Documents.

Right of Cancellation. and repayment in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under Clause 16.2(c) clause 15.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Company Obligors’ Agent or an Obligor under Clause 16.3 clause 15.3 (Tax indemnity) or Clause 17.1 clause 16.1 (Increased costs), the Company Obligors’ Agent may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the UtilisationsLoans. (b) On receipt of a notice referred to in paragraph (aclause 8.4(a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Company Obligors’ Agent has given notice under paragraph (aclause 8.4(a) above in relation to a Lender (or, if earlier, the date specified by the Company Obligors’ Agent in that notice), each Borrower to which whom a Utilisation Loan is outstanding shall repay that Lender’s participation in that Utilisation Loan together with all interest and other amounts accrued under the Finance Documents.

Right of Cancellation. and repayment in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 16.2(c) 15.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Company or an Obligor under Clause 16.3 15.3 (Tax indemnity) or Clause 17.1 16.1 (Increased costsCosts), the Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the Utilisations. (b) On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Utilisation is outstanding shall repay that Lender’s participation in that Utilisation together with all interest and other amounts accrued under the Finance Documents.

Right of Cancellation. and repayment in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor the Borrower is required to be increased under paragraph (c) of Clause 16.2(c) 18.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Company or an Obligor Borrower under Clause 16.3 18.3 (Tax indemnity) or Clause 17.1 19.1 (Increased costs), the Company Borrower may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Senior Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s 's participation in the UtilisationsLoans. (b) On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Company Borrower has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Company Borrower in that notice), each the Borrower to which a Utilisation is outstanding shall repay that Lender’s 's participation in that Utilisation the Loans together with all interest and other amounts accrued under the Finance Documents.

Right of Cancellation. and repayment in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 16.2(c) 16.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Company or an Obligor under Clause 16.3 (Tax indemnity) or Clause 17.1 (Increased costs), the Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s 's participation in the UtilisationsLoans. (b) On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Utilisation Loan is outstanding shall repay that Lender’s 's participation in that Utilisation Loan together with all interest and other amounts accrued under the Finance Documents.

Right of Cancellation. and repayment in relation to a single Lender (aA) If: (i1) any sum payable to any Lender by an Obligor is required to be increased under paragraph (C) of Clause 16.2(c) 18.2 (Tax gross-up); or (ii2) any Lender claims indemnification from the Company or an Obligor under Clause 16.3 18.3 (Tax indemnity) or Clause 17.1 19.1 (Increased costs), the Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment Commitment(s) of that Lender and its intention to procure the repayment of that LenderXxxxxx’s participation in the UtilisationsLoans. (bB) On receipt of a notice referred to in paragraph (aA) above in relation to a Lender, the Commitment Commitment(s) of that Lender shall immediately be reduced to zero. (cC) On the last day of each Interest Period which ends after the Company has given notice under paragraph (aA) above in relation to a Lender (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Utilisation Loan is outstanding shall repay that LenderXxxxxx’s participation in that Utilisation Loan together with all interest and other amounts accrued under the Finance Documents.