Common use of SPECIAL CASE OF REVOCABILITY OF THE ENDORSEMENT FACILITY Clause in Contracts

SPECIAL CASE OF REVOCABILITY OF THE ENDORSEMENT FACILITY. 3.1 The Bank is entitled, at any time throughout the period of the revocable Facility Limit, mentioned as cuh in the Credit Facility Agreement, irrespective of the occurrence of any Event of Default and without any prior formalities, to diminish or cancel the Available Facility Limit. The Bank shall notify the Borrower subsequently, however on the same calendar day when the measure is taken, and the repayment of any amounts due to the Bank under the Financing Documents by the Borrower shall be made within a 15 (fifteen) calendar day period, except for the case where the Bank grants a longer period according to the notice.