Common use of Cancellation and Prepayment Clause in Contracts

Cancellation and Prepayment. If a Lender delivers a notice of illegality any outstanding Commitment of that Lender will be cancelled on the date of that notice. The Borrower agrees to prepay the participation of that Lender in the Loan on the last day of the Interest Period during which the notice is received, unless the Lender certifies that, because of a legal requirement (law, regulation or any action by a court or administrative authority) applicable to the Lender, it must be repaid earlier. In this event the Borrower agrees to prepay the participation on the date specified by the Lender.

Cancellation and Prepayment. If a Lender delivers a notice of illegality any outstanding the Commitment of that Lender will be cancelled on the date of that notice. The Borrower agrees to prepay the participation of If that Lender in the Loan on the last day of the Interest Period during which the notice is received, unless the Lender certifies that, because of a legal requirement (law, regulation or any action by a court or administrative authority) applicable to the that Lender, it must be repaid earlier. In this event before the end of its Term, the Borrower agrees to prepay repay the participation on the earlier date (or dates) specified by the Lender. Clause 12.6 applies to any cancellation or repayment under this sub-clause.

Cancellation and Prepayment. If a Lender delivers a notice of illegality any outstanding Commitment of that Lender will be cancelled on the date of that notice. The Borrower agrees to prepay the participation of that Lender in the Loan on the last day of the Interest Period Term during which the notice is received, unless the Lender certifies that, because of a legal requirement (law, regulation or any action by a court or administrative authority) applicable to the Lender, it must be repaid earlier. In this event the Borrower agrees to prepay the participation on the date specified by the Lender.. SECTION 12

Cancellation and Prepayment. If a Lender delivers a notice of illegality any outstanding the Available Commitment of that Lender will be cancelled on the date of that notice. The Borrower agrees to prepay the participation of that Lender in the Loan on the last day of the Interest Period during which the notice is received, unless If the Lender certifies that, because of a legal requirement (law, regulation or any action by a court or administrative authority) applicable to the Lender, it the participation of that Lender in the Loan must be repaid earlier. In this event before the last day of any applicable Interest Period the Borrower agrees to prepay repay the participation on the earlier date specified by the Lender. Clause 11.7 applies to any cancellation or repayment under this sub-clause.