Common use of Cancellation of the Commitment Clause in Contracts

Cancellation of the Commitment. The Borrower may cancel all or any part of the Commitment at any time upon giving written notice to OPIC of the amount canceled. There shall be no cancellation fee. Any part of the Commitment not disbursed at the end of the Commitment Period shall be deemed to have been canceled.

Appears in 2 contracts

Sources: Loan Agreement (Interoil Corp), Loan Agreement (Interoil Corp)