Common use of Termination or Reduction of the Commitments; Mandatory Prepayments Clause in Contracts

Termination or Reduction of the Commitments; Mandatory Prepayments. (a) Unless previously terminated, the Commitments shall terminate in full at 5:00 p.m. (Tokyo time) on the earlier of (i) the date on which all of the Certain Funds Purposes have been achieved without the making of any Advances and (ii) the date on which the Certain Funds Period terminates; provided that in any event the Tranche 1 Commitments, Tranche 2 Commitments and Tranche 3 Commitments shall terminate in full at 5:00 p.m. (Tokyo time) on the date that is 364 days after the Closing Date and the Tranche 4 Commitments shall terminate in full at 5:00 p.m. (Tokyo time) on the date that is 90 days after the Closing Date. Additionally, each Lender’s Commitment will be permanently reduced upon such Lender making any Advance under such Commitment by an amount equal to the amount of such Advance. Any termination or reduction of the Commitments shall be permanent.

Appears in 2 contracts

Samples: Bridge Credit Agreement (Takeda Pharmaceutical Co LTD), Bridge Credit Agreement (Takeda Pharmaceutical Co LTD)

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Termination or Reduction of the Commitments; Mandatory Prepayments. (a) Unless previously terminated, the Commitments shall terminate in full at 5:00 p.m. (Tokyo timeChicago Time) on the earlier of (i) the date on which all of the Certain Funds Purposes have been achieved without the making of any Advances and (ii) the date on which the Certain Funds Period terminatesa Mandatory Cancellation Event occurs; provided that in any event the Tranche 1 Commitments, Tranche 2 Commitments and Tranche 3 2 Commitments shall terminate in full at 5:00 p.m. (Tokyo timeChicago Time) on the date that is 364 days after the Closing Date and the Tranche 4 3 Commitments shall terminate in full at 5:00 p.m. (Tokyo timeChicago Time) on the date that is 90 60 days after the Closing Date. Additionally, each Lender’s Commitment will be permanently reduced upon such Lender making any Advance under such Commitment by an amount equal to the amount Sterling Equivalent of such Advance. Any termination or reduction of the Commitments shall be permanent.

Appears in 1 contract

Samples: Day Bridge Credit Agreement (AbbVie Inc.)

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Termination or Reduction of the Commitments; Mandatory Prepayments. (a) Unless previously terminated, the Commitments shall terminate in full at 5:00 p.m. (Tokyo Chicago time) on the earlier of (i) the date on which all of the Certain Funds Purposes have been achieved without the making of any Advances and (ii) the date on which the Certain Funds Period terminatesa Mandatory Cancellation Event occurs; provided that in any event the Tranche 1 Commitments, Tranche 2 Commitments and Tranche 3 2 Commitments shall terminate in full at 5:00 p.m. (Tokyo Chicago time) on the date that is 364 days after the Closing Date and the Tranche 4 3 Commitments shall terminate in full at 5:00 p.m. (Tokyo Chicago time) on the date that is 90 60 days after the Closing Date. Additionally, each Lender’s Commitment will be permanently reduced upon such Lender making any Advance under such Commitment by an amount equal to the amount Sterling Equivalent of such Advance. Any termination or reduction of the Commitments shall be permanent.

Appears in 1 contract

Samples: Day Bridge Credit Agreement (AbbVie Inc.)

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