Common use of Conditions for Cancellation Clause in Contracts

Conditions for Cancellation. of Commitments The conditions referred to in Clause 9.16 (Voluntary cancellation of Commitments) are that: (a) a partial cancellation shall be $1,000,000 or a higher integral multiple of $1,000,000; and (b) the Agent has received from the Borrower at least 3 Business Days' prior written notice specifying the amount of the Total Commitments to be cancelled and the date on which the cancellation is to take effect.

Conditions for Cancellation. of Term Commitments or Revolving Commitments. The conditions referred to in Clause 9.16 (Voluntary cancellation of Commitments) 8.13 are that: : (a) a partial cancellation shall be $1,000,000 or a higher integral multiple of $1,000,000; and and (b) the Agent has received from the Borrower at least 3 Business Days' ’ prior written notice specifying the amount of the Total Available Term Commitments or Total Available Revolving Commitments to be cancelled and the date on which the cancellation is to take effect.