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 the Borrower is required to be increased under paragraph (c) of Clause 14.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Borrower under Clause 14.3 (Tax indemnity) or Clause 15.1 (Increased costs), the Borrower may, whilst the circumstance giving rise to the requirement for that increase 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 participation in the Loan. (b) On the date falling five Business Days after 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 the Interest Period for the Loan which ends after the Borrower has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Borrower in that notice), the Borrower shall repay that Lender’s participation in the Loan together with all interest and other amounts accrued in relation to such repaid amount under the Finance Documents.

Right of Cancellation. and repayment in relation to a single LenderLender or Issuing Bank (a) If: (i) any sum payable to any Lender by the Borrower an Obligor is required to be increased under paragraph (c) of Clause 14.2 17.2 (Tax gross-up); or; (ii) any Lender or Issuing Bank claims indemnification from the Borrower Parent or an Obligor under Clause 14.3 17.3 (Tax indemnity) or Clause 15.1 18.1 (Increased costs), the Borrower Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Facility Agent notice notice: (i) (if such circumstances relate to a Lender) of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the LoanUtilisations; or (iii) (if such circumstances relate to the Issuing Bank) of repayment of any outstanding Letter of Credit issued by it and cancellation of its appointment as an Issuing Bank under this Agreement in relation to any Letters of Credit to be issued in the future. (b) On the date falling five Business Days after 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 the each Interest Period for the Loan which ends after the Borrower Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Borrower Company in that notice), the each Borrower to which a Utilisation is outstanding shall repay that Lender’s participation in the Loan that Utilisation together with all interest and other amounts accrued in relation to such repaid amount 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 the Borrower an Obligor is required to be increased under paragraph (c) of Clause 14.2 20.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Borrower Company or an Obligor under Clause 14.3 20.3 (Tax indemnity) or Clause 15.1 21.1 (Increased costs), the Borrower Company may, whilst the circumstance giving rise to the requirement for that increase 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 participation in the LoanUtilisations, provided that this Clause 13.4(a) shall not apply while there is only one Lender under the Facility. (b) On the date falling five Business Days after 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 the each Interest Period for the Loan which ends after the Borrower Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Borrower Company in that notice), the Borrower shall repay that Lender’s participation in the Loan that Utilisation together with all interest and other amounts accrued in relation to such repaid amount 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 the Borrower is required to be increased under paragraph (c) of Clause 14.2 12.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Borrower under Clause 14.3 12.3 (Tax indemnity) or Clause 15.1 13 (Increased costsCosts), ; or the Borrower may, whilst the circumstance giving rise to the requirement for that increase increase, indemnification or indemnification payment continues, replace that Lender in accordance with Clause 32.5 (Replacement of Lender) or give the Facility Agent notice of cancellation of the Commitment Commitments of that Lender and its intention to procure the repayment of that LenderXxxxxx’s participation in the LoanLoans. (b) On the date falling five Business Days after receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment Available Commitments of that Lender shall be immediately be reduced to zerozero to the extent that the Lender’s participation has not been transferred pursuant to Clause 32.5 (Replacement of Lender). (c) On the last day of the each Interest Period for the Loan which ends after the Borrower has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Borrower in that notice), the Borrower shall repay that LenderXxxxxx’s participation in the Loan that Utilisation together with all interest and other amounts accrued in relation to such repaid amount under the Finance DocumentsDocuments and that Xxxxxx’s corresponding Commitments shall be immediately cancelled in the amount of the participations repaid.

Right of Cancellation. and repayment in relation to a single Lender (a) If: (i) any sum payable to any Lender by the Borrower is required to be increased under paragraph (c) of Clause 14.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Borrower under Clause 14.3 (Tax indemnity) or Clause 15.1 (Increased costs), the Borrower may, whilst the circumstance giving rise to the requirement for that increase 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 participation in the LoanUtilisations (or procure the transfer of that Lender’s participation at par to another Lender willing to accept such transfer). (b) On the date falling five Business Days after 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 the each Interest Period for the Loan which ends after the Borrower has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Borrower in that notice), the Borrower shall repay that Lender’s participation in the that Loan together with all interest and other amounts accrued in relation to such repaid amount 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 the Borrower an Obligor is required to be increased under paragraph (c) of Clause 14.2 17.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Borrower Company or an Obligor under Clause 14.3 17.3 (Tax indemnity) or Clause 15.1 18.1 (Increased costsCosts), ; or the Borrower Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Facility 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 LoanLoans. (b) On the date falling five Business Days after receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment Available Commitment(s) of that Lender shall be immediately be reduced to zero. (c) On the last day of the each Interest Period for the Loan which ends after the Borrower Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Borrower Company in that notice), the each Borrower to which a Loan is outstanding shall repay that LenderXxxxxx’s participation in the that Loan together with all interest and other amounts accrued in relation to such repaid amount under the Finance DocumentsDocuments and that Xxxxxx’s corresponding Commitment(s) shall be immediately cancelled in the amount of the participations repaid.

Right of Cancellation. and repayment in relation to a single Lender (a) If: (i) any sum payable to any Lender by the Borrower an Obligor is required to be increased under paragraph (c) of Clause 14.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Borrower Obligors’ Agent or an Obligor under Clause 14.3 (Tax indemnity) or Clause 15.1 (Increased costs), the Borrower Obligors’ Agent may, whilst the circumstance giving rise to the requirement for that increase 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 participation in the LoanLoans. (b) On the date falling five Business Days after 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 the each Interest Period for the Loan which ends after the Borrower Obligors’ Agent has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Borrower Obligors’ Agent in that notice), the Borrower to which a Loan is outstanding shall repay that Lender’s participation in the that Loan together with all interest and other amounts accrued in relation to such repaid amount 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 the Borrower an Obligor is required to be increased under paragraph (c) of Clause 14.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Borrower Company or an Obligor under Clause 14.3 (Tax indemnity) or Clause 15.1 (Increased costs), the Borrower Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continuesindemnification, give the Facility Agent notice of cancellation of the Commitment Commitment(s) of that Lender and its intention to procure the repayment of that Lender’s 's participation in the LoanUtilisations. (b) On the date falling five Business Days after receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment Commitment(s) of that the relevant Lender shall immediately be reduced to zero. (c) On the last day of the each Interest Period for the Loan which ends after the Borrower Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Borrower Company in that notice), the each Borrower to which a Utilisation is outstanding shall repay that the relevant Lender’s 's participation in the Loan that Utilisation together with all interest and other amounts accrued in relation to such repaid amount under the Finance Documents. (i) If any Lender becomes a Defaulting Lender, the Company may, at any time whilst the Lender continues to be a Defaulting Lender, give the Agent three Business Days' notice of cancellation of each Available Commitment of that Lender; (i) On the notice referred to in paragraph (i) above becoming effective, each Available Commitment of the Defaulting Lender shall immediately be reduced to zero. (ii) The Agent shall as soon as practicable after receipt of a notice referred to in paragraph (i) above, notify all the Lenders.

Right of Cancellation. and repayment in relation to a single Lender (a) If: (i) any sum payable to any Lender by the Borrower an Obligor is required to be increased under paragraph (c) of Clause 14.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Borrower an Obligor under Clause 14.3 (Tax indemnity) or Clause 15.1 (Increased costs), the Borrower may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Facility Agent notice (if such circumstances relate to a Lender) of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the LoanUtilisation. (b) On the date falling five Business Days after 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 the each Interest Period for the Loan which ends after the Borrower has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Borrower in that notice), the Borrower shall repay that Lender’s participation in the Loan Utilisation together with all interest and other amounts accrued in relation to such repaid amount under the Finance Documents.