Common use of Cancellation of Available Commitments Clause in Contracts

Cancellation of Available Commitments. The Borrower may within the Drawdown Period, by giving to the Facility Agent not less than 14 Business Days' prior written notice specifying the amount to be cancelled, cancel without premium or penalty all or any part (but, if in part, being an amount of not less than US$20,000,000 and an integral multiple of US$10,000,000) of the Total Commitments under an Available Facility. Any cancellation in part shall reduce the Available Commitment of each Lender under that Facility rateably, and any amount cancelled may not be reinstated.