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. 4.2 Also, in addition to the provisions of Clause 4.1 above and on terms and conditions mentioned therein, the Bank shall be entitled to transform the Guarantee Instruments issued under the relevant Credit Facility Agreement into Credit Facility. 4.3 As regards Revolving Guarantee Facilities, on the date of full repayment of the Credit Facility arising under the transformation of a Guarantee Instrument according to Clause 4.2 above, the Facility Limit of the Guarantee Facility shall not be supplemented with the amount of the Credit Facility. 4.4 The provisions of the Credit Facility Agreement shall apply until the full repayment of all amounts due or which may be due by transforming the issued Guarantee Instruments into a Credit Facility, being agreed that the supplementing of the Facility Limit of the Guarantee Facility of Revolving Guarantee Facilities shall not be permitted in the cases mentioned under Clause 4.1 above.