Common use of Cancellation and Prepayment Clause in Contracts

Cancellation and Prepayment. If an alternative basis is not so agreed pursuant to Section 8.2; (a) if no Drawdown has yet been made, the Facility shall be cancelled and all sums payable under this Agreement shall be paid to the Lender at the end of the period for negotiation ascertained in accordance with Section 8.2; or (b) if any Drawdown has been made, the Lender may require the Borrower to prepay the Loan by giving written notice to the Borrower specifying a prepayment date which is not less than Fourteen (14) days after such notice is given. On the specified date the Facility shall be cancelled and the Borrower shall prepay the Loan in full together with interest thereon from the beginning of the relevant Interest Period to the date of prepayment and all other sums payable by the Borrower under this Agreement. For this purpose, the interest rate from time to time applicable to the Loan shall be the rate ascertained in accordance with Section 8.3 in relation to the relevant period.

Cancellation and Prepayment. If an alternative basis is not so agreed pursuant to Section 8.2; (a) if no the Drawdown has yet not been made, the Facility shall be cancelled and all sums payable outstanding under this Agreement shall be paid to the Lender Agent at the end of the period for negotiation ascertained in accordance with Section 8.2; or (b) if any the Drawdown has already been made, the Lender Agent may require the Borrower to prepay the Loan Loan, by giving written notice to the Borrower specifying a prepayment date which is not less than Fourteen fourteen (14) days after such notice is given. On the specified date the Facility shall be cancelled and the Borrower shall prepay the Loan in full together with interest thereon from the beginning of the relevant Interest Period to the date of prepayment and all other sums payable by the Borrower under this Agreement. For this purpose, the interest rate from time to time applicable to each Lender’s Participation in the Loan shall be the rate ascertained in accordance with Section 8.3 in relation to the relevant period.

Cancellation and Prepayment. If an alternative basis is not so agreed pursuant to Section 8.2;Clause 7.3(b): (ai) if no Drawdown Advance has yet been made, the Facility shall be cancelled and all sums payable outstanding under this Agreement shall be paid to the Lender Facility Agent at the end of the period for negotiation ascertained in accordance with Section 8.2Clause 7.3(b); or (bii) if any Drawdown has one or more Advances have been made, made the Lender Facility Agent may require the Borrower Co-borrowers to prepay the Loan Loan, by giving written notice to the Borrower Co-borrowers specifying a prepayment date which is not less than Fourteen thirty (1430) days after such notice is given. On the specified date the Facility shall be cancelled and the Borrower Co-borrowers shall prepay the Loan in full together with interest thereon from the beginning of the relevant Interest Period to the date of prepayment and all other sums payable by the Borrower under this Agreementprepayment. For this purpose, the interest rate from time to time applicable to each Lender’s Participation in the Loan shall be the rate ascertained in accordance with Section 8.3 Clause 7.3(b) in relation to the relevant period.

Cancellation and Prepayment. If an alternative basis is not so agreed pursuant to Section 8.2;Clause 7.2 and :- (a) 7.4.1 if no Drawdown Advance has yet been made, the Facility shall be cancelled and all sums payable outstanding under this Agreement shall be paid to the Lender at the end of the period for negotiation ascertained in accordance with Section 8.2Clause 7.2; or (b) 7.4.2 if any Drawdown has one or more Advances have been made, the Borrower may request to, or the Lender may require the Borrower to to, prepay the Loan (in either case without any prepayment penalty), by way of giving written notice to the Borrower other party specifying a prepayment date which is not less than Fourteen ninety (1490) days after such notice is given. On the specified date the Facility shall be cancelled and the Borrower shall prepay the Loan in full together with interest thereon from the beginning of the relevant Interest Period to the date of prepayment and all other sums payable by the Borrower under this Agreementprepayment. For this purpose, the interest rate from time to time applicable to the Loan Lender shall be the rate ascertained in accordance with Section 8.3 Clause 7.3 in relation to the relevant period.