Termination of the Acceptance Commitment Sample Clauses

Termination of the Acceptance Commitment. Notwithstanding anything to the contrary herein, if any of the following events shall occur: (a) There is a determination made by the Letter of Credit Issuer or by any regulatory body (including, without limitation, the staff of any Federal Reserve Bank), or there is a change in, or change in interpretation of, any applicable rule or regulation, to the effect that any Acceptance created hereunder is not, or would not be, an Eligible Acceptance; or (b) Any restriction is imposed on the Letter of Credit Issuer, including any change in acceptance limits imposed on the Letter of Credit Issuer which would prevent the Letter of Credit Issuer from creating Acceptances; then the Administrative Agent may, by notice to the Borrowers in writing or by telephone (confirmed in writing), terminate the obligation of the Administrative Agent to cause the Letter of Credit Issuer to create Acceptances hereunder in whole or in part, effective on the date on which the Administrative Agent gives such notice.

Termination of the Acceptance Commitment. Notwithstanding anything to the contrary herein, if any of the following events shall occur: (a) There is a reasonable determination made in good faith by Bank or by any regulatory body (including, without limitation, the staff of any Federal Reserve Bank or the officers of the Office of the Comptroller of the Currency), or there is a change in, or change in interpretation of, any applicable rule or regulation, to the effect that any Acceptance created hereunder is not, or would not be, an Eligible Acceptance; or (b) Any restriction is imposed on the Bank by any regulatory body (including, without limitation, any change in acceptance limits imposed on the Bank) which would prevent the Bank from creating Acceptances or performing Bank commitment with respect of creation of Acceptances for Borrower; or (c) Any Default as defined in Section 10 hereof shall occur and remain uncured; then the Bank may, by notice to the Borrower in writing or by telephone (confirmed in writing), terminate the Bank's obligation to create Acceptances for Borrower under the Commitment, effective on the date on which such Bank gives such notice; provided that, in the case of the occurrence of any event described in this Section 4.6(a) and (b), such notice shall describe in reasonable detail the nature of such event. Upon such termination of the Revolving Credit Commitment or any obligation with respect of creation of Acceptances hereunder, as the case may be, the Bank shall have no further obligation to the Borrower to create Acceptances or otherwise perform under this Section 4.