Common use of SPECIAL CASE OF GUARANTEE FACILITY REVOCABILITY Clause in Contracts

SPECIAL CASE OF GUARANTEE FACILITY REVOCABILITY. 4.1 The Bank is entitled at any time throughout the Guarantee Facility and irrespective of the occurrence of an Event of Default and without any prior formalities, to diminish or cancel the Available Facility Limit. The Bank shall subsequently notify the Borrower, on the same calendar day on which the measure is taken and the repayment of any amounts due to the Bank under the Financing Documents shall be made by the Borrower within 15 (fifteen) calendar day period, except for the case where the Bank grants a longer period according to the notice.