Common use of CANCELLATION Clause in Contracts

CANCELLATION. If pursuant to Article 1.06A, the Borrower cancels: (a) a Fixed Rate Tranche which is a Notified Tranche, it shall indemnify the Bank under Article 4.02B; (b) a Floating Rate Tranche which is a Notified Tranche or any part of the Credit other than a Notified Tranche, no indemnity is payable. If the Bank cancels: (a) a Fixed Rate Tranche which is a Notified Tranche upon an Indemnifiable Prepayment Event or pursuant to Article 1.05B, the Borrower shall pay to the Bank the Prepayment Indemnity; or (b) a Notified Tranche upon an Event of Default, the Borrower shall indemnify the Bank under Article 10.03. Save in these cases, no indemnity is payable upon cancellation of a Tranche by the Bank. The indemnity shall be calculated as if the cancelled amount had been disbursed and repaid on the Scheduled Disbursement Date or, to the extent that the disbursement of the Tranche is currently deferred or suspended, on the date of the cancellation notice.

CANCELLATION. If pursuant to Article 1.06A, the Borrower cancels: (a) a Fixed Rate Tranche which is a Notified Tranche, it shall indemnify the Bank under Article 4.02B; (b) a Floating Rate Tranche which is a Notified Tranche or any part of the Credit other than a Notified Tranche, no indemnity is payable. If the Bank cancels: (a) a Fixed Rate Tranche which is a Notified Tranche upon an Indemnifiable Prepayment Event or pursuant to Article 1.05B, the Borrower shall pay to the Bank the Prepayment Indemnity; or (b) a Notified Tranche upon an Event of Default, the Borrower shall indemnify the Bank under Article 10.03. Save in these cases, no indemnity is payable upon cancellation of a Tranche by the Bank. The indemnity shall be calculated as if the cancelled amount had been disbursed and repaid on the Scheduled Disbursement Date or, to the extent that the disbursement of the Tranche is currently deferred or suspended, on the date of the cancellation notice. On the day following the Final Availability Date, and unless otherwise specifically agreed to in writing between the Bank and the Borrower, the part of the Credit in respect of which no Disbursement Request has been made in accordance with Article 1.02B shall be automatically cancelled, without any notice being served by the Bank to the Borrower and without liability arising on the part of either party.

CANCELLATION. If a Fixed Rate Notified Tranche is cancelled by the Borrower pursuant to Article 1.06A1.06(1) above, the Borrower cancels: (a) a Fixed Rate Tranche which is a Notified Tranche, it shall indemnify the Bank under Article 4.02B; (b) a Floating Rate Tranche which is a Notified Tranche or 4.02(2)(i). If any part of the Credit other than a Fixed Rate Notified TrancheTranche is cancelled by the Borrower pursuant to Article 1.06(1) above, no indemnity is payable. If the Bank cancels: (a) cancels a Fixed Rate Tranche which is disbursement pursuant to Article 1.05(3), the Borrower shall indemnify the Bank under Article 4.02(2)(i). If the Bank cancels a Notified Tranche upon an Indemnifiable Prepayment Event or pursuant to event mentioned in Article 1.05B, the Borrower shall pay to the Bank the Prepayment Indemnity; or (b) a Notified Tranche upon an Event of Default10.01, the Borrower shall indemnify the Bank under Article 10.03. Save in these cases, no indemnity is payable upon cancellation of a Tranche by the Bank. The An indemnity shall be calculated as if on the basis that the cancelled amount had is deemed to have been disbursed and repaid on the Scheduled Disbursement Date or, to the extent that the disbursement of the Tranche is currently deferred or suspended, on the date of the cancellation notice.

CANCELLATION. If pursuant to Article 1.06A, the Borrower cancels: (a) a Fixed Rate Tranche which is a Notified Tranche, it shall indemnify the Bank under Article 4.02B; (b) a Floating Rate Tranche which is a Notified Tranche or any part of the Credit other than a Notified Tranche, no indemnity is payable. If the Bank cancels: (a) cancels a Fixed Rate Tranche which is a Notified Tranche upon an Indemnifiable Prepayment Event or pursuant to Article 1.05B1.05C, the Borrower shall pay to indemnify the Bank under Article 4.02B. If the Prepayment Indemnity; or (b) Bank cancels a Notified Tranche upon an Event of Defaultevent mentioned in Article 10.01, the Borrower shall indemnify the Bank under Article 10.03. Save in these cases, no indemnity is payable upon cancellation of a Tranche by the Bank. The An indemnity shall be calculated as if on the cancelled basis that the cance- lled amount had is deemed to have been disbursed and repaid on the Scheduled Disbursement Date or, to the extent that the disbursement of the Tranche is currently deferred or suspendedsuspen- ded, on the date of the cancellation notice.