Cancellation and suspension. 1.6.A Xxxxxxxx’x right to cancel 1.6.B Bank’s right to suspend and cancel 1.6.C Indemnity for suspension and cancellation of a Tranche
Cancellation and suspension. 1.06A Xxxxxxxx’x right to cancel The Borrower may at any time by notice in writing to the Bank cancel, in whole or in part and with immediate effect, the undisbursed portion of the Credit. However, the notice shall have no effect in respect of (i) a Notified Tranche which has a Scheduled Disbursement Date falling within 5 (five) Business Days of the date of the notice, or (ii) a Tranche in respect of which a Disbursement Request has been submitted but no Disbursement Notice has been issued.
Cancellation and suspension. 26 1.6.A BORROWER’S RIGHT TO CANCEL 26 1.6.B BANK’S RIGHT TO SUSPEND AND CANCEL 27 1.6.C INDEMNITY FOR SUSPENSION AND CANCELLATION OF A TRANCHE 27
Cancellation and suspension. 1.6.A Xxxxxxxx’x right to cancel
Cancellation and suspension. Borrower’s right to cancel The Borrower may send a written notice to the Bank requesting a cancellation of the undisbursed Credit or a portion thereof. In its written notice, the Borrower: must specify whether the Credit shall be cancelled in whole or in part and, if in part, the amount of the Credit to be cancelled; and must not request any cancellation of an Accepted Tranche, which has a Scheduled Disbursement Date falling within 5 (five) Business Days of the date of such written notice. Upon receipt of such written notice, the Bank shall cancel the requested portion of the Credit with immediate effect. Bank’s right to suspend and cancel At any time upon the occurrence of the following events, the Bank may notify the Borrower in writing that the undisbursed portion of the Credit shall be suspended and/or (except upon the occurrence of a Market Disruption Event) cancelled in whole or in part:
Cancellation and suspension. Xxxxxxxx’x right to cancel The Borrower may at any time by notice in writing to the Bank cancel, in whole or in part and with immediate effect, the undisbursed portion of the Credit. However, the notice shall have no effect in respect of (i) a Notified Tranche which has a Scheduled Disbursement Date falling within 5 (five) Business Days of the date of the notice or (ii) a Tranche in respect of which a Disbursement Request has been submitted but no Disbursement Notice has been issued. Bank’s right to suspend and cancel The Bank may, by notice in writing to the Borrower, suspend and/or cancel the undisbursed portion of the Credit in whole or in part at any time and with immediate effect: upon the occurrence of a Prepayment Event or an Event of Default or an event or circumstance which would with the passage of time or giving of notice under this Contract constitute a Prepayment Event or an Event of Default; or if a Material Adverse Change occurs. Any suspension shall continue until the Bank ends the suspension or cancels the suspended amount. Indemnity for suspension and cancellation of a Tranche SUSPENSION If the Bank suspends a Notified Tranche, whether upon an Indemnifiable Prepayment Event or an Event of Default or upon the occurrence of a Material Adverse Change, the Borrower shall pay to the Bank the Deferment Indemnity calculated on the amount of disbursement suspended.
Cancellation and suspension. Xxxxxxxx’x right to cancel The Borrower may at any time by notice in writing to the Bank cancel, in whole or in part and with immediate effect, the undisbursed portion of the Credit. However, the notice shall have no effect in respect of an Accepted Tranche which has a Scheduled Disbursement Date falling within 5 (five) Business Days of the date of the notice. Bank’s right to suspend and cancel The Bank may, by notice in writing to the Borrower, suspend and/or cancel the undisbursed portion of the Credit in whole or in part at any time and with immediate effect upon the occurrence of a Prepayment Event or an Event of Default or an event or circumstance which would with the passage of time or giving of notice under this Contract constitute a Prepayment Event or an Event of Default; or if the Republic of Serbia is no longer an eligible country for operations under the Mandate. The Bank may also suspend the portion of the Credit in respect of which it has not received a Disbursement Acceptance with immediate effect in the case that a Market Disruption Event occurs. Any suspension shall continue until the Bank ends the suspension or cancels the suspended amount. Indemnity for suspension and cancellation of a Tranche Suspension If the Bank suspends an Accepted Tranche, whether upon an Indemnifiable Prepayment Event or an Event of Default, the Borrower shall pay to the Bank the Deferment Indemnity calculated on the amount of disbursement suspended.