Cancellation of Available Commitments. On the expiry of the Availability Period, the Available Facility and each Lender’s Available Commitment shall be reduced to zero and accordingly the remaining Commitments of each Lender shall be equal to their respective LC Exposure under any issued Letters of Credit.
Appears in 2 contracts
Sources: Letter of Credit Facility and Reimbursement Agreement (Xl Capital LTD), Letter of Credit Facility and Reimbursement Agreement (Xl Capital LTD)