Mandatory cancellation. The Available Facility shall be cancelled and reduced to zero in the event that the Scheme lapses or is withdrawn (including if there is an announcement by or on behalf of the Borrower or a member of the Group that it is withdrawn) or if the Scheme is not approved by the members entitled to vote on the Scheme or is rejected or not sanctioned by the relevant courts.
Appears in 2 contracts
Sources: Facility Agreement (TOM Group LTD), Facility Agreement (Tom Online Inc)