Common use of Demand Basis Clause in Contracts

Demand Basis. If, pursuant to Clause 19.2(A) and/or (E), the Agent declares all outstanding Advances and/or amounts outstanding under the Standby Facility to be due and payable on demand, the Agent may (and, if so instructed by the Majority Banks, shall) by written notice to the Borrowers (i) call for repayment of the Advances and/or amounts outstanding under the Standby Facility on such date as may be specified whereupon the Advances and/or all amounts outstanding under the Standby Facility shall become due and payable on the date so specified together with all interest and any commitment commission accrued and all other sums payable under this Agreement or (ii) withdraw such declaration with effect from the date specified in such notice.

Demand Basis. If, pursuant to Clause 19.2(A) and/or (E), the Agent declares all outstanding Advances and/or amounts outstanding under the Standby Facility to be due and payable on demand, the Agent may (and, if so instructed by the Majority Banks, shall) by written notice to the Borrowers Borrower (i) call for repayment of the Advances and/or amounts outstanding under the Standby Facility on such date as may be specified whereupon the Advances and/or all amounts outstanding under the Standby Facility shall become due and payable on the date so specified together with all interest and any commitment commission accrued and all other sums payable under this Agreement or (ii) withdraw such declaration with effect from the date specified in such notice.