Notices of Cancellation or Prepayment Sample Clauses
The "Notices of Cancellation or Prepayment" clause defines the requirements and procedures for informing the other party when a contract is to be cancelled or a payment is to be made ahead of schedule. Typically, this clause specifies the amount of advance notice required, the acceptable methods of delivering such notice (such as in writing or via email), and any conditions that must be met for the notice to be effective. By establishing clear guidelines for communication regarding cancellation or prepayment, this clause helps prevent misunderstandings and ensures both parties have adequate time to prepare for changes in the contractual relationship.
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Notices of Cancellation or Prepayment. Any notice of cancellation, prepayment, authorisation or other election given by any Party under Clause 9 (Illegality, voluntary prepayment and cancellation) shall (subject to the terms of that Clause) be irrevocable and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment.
Notices of Cancellation or Prepayment. Any notice of cancellation, prepayment, authorisation or other election given by any Party under Clause 13 (Illegality, Voluntary Prepayment and Cancellation), paragraph (c) of Clause 14.3 (Application of mandatory prepayments) or Clause 14.4 (Mandatory Prepayment Accounts) shall (subject to the terms of those Clauses) be irrevocable (unless otherwise agreed by the Majority Lenders) and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment.
Notices of Cancellation or Prepayment. Any notice of cancellation or prepayment given by any Party under Clause 9 (Illegality, Voluntary Prepayment and Cancellation) or Clause 10 (Mandatory Prepayment) shall be irrevocable and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment, provided that a notice or prepayment or cancellation may be conditional and not irrevocable provided that the Company or a Borrower shall within 10 Business Days’ notice from the Facility Agent indemnify any Lender in respect, and in the amount, of such Lender’s Break Costs as specified in such notice from the Facility Agent should cancellation or prepayment not occur on the date or dates specified in the notice of cancellation or prepayment.
Notices of Cancellation or Prepayment. (a) Any notice of cancellation, prepayment, authorisation or other election given by any Party under Clause 7 (Illegality, Voluntary Prepayment and Cancellation) or Clause 8.6 (Invitation to Refuse Prepayment) shall (subject to the terms of those Clauses), unless a contrary indication appears in this Agreement, specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment.
(b) The Borrower shall be permitted to deliver a conditional or revocable notice of voluntary cancellation and/or voluntary prepayment under this Agreement (and for the avoidance of doubt, the Borrower shall not be liable for Break Costs as a result of that payment not being made). 69 Project Meria: Senior Facilties Agreement
Notices of Cancellation or Prepayment. Any notice of cancellation, prepayment, authorisation or other election given by any Party under Clause 7 (Illegality, voluntary prepayment and cancellation) shall (subject to the terms of that Clause) be irrevocable and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment, provided that in the case of any notice of voluntary prepayment under Clause 7.3 (Voluntary prepayment), (a) the Borrower shall be permitted to specify the conditions precedent to such prepayment in such notice of voluntary prepayment under Clause 7.3 (Voluntary prepayment), and (b) if the Borrower shall have specified such conditions and any such condition is not satisfied, the Borrower may by a notice of cancellation to the Facility Agent (on or prior to the date on which such prepayment is to be made) revoke such notice of voluntary prepayment, and the Borrower shall, within five Business Days of demand, pay any and all Break Costs and indemnify each of the Finance Parties against any cost, loss or liability (excluding any loss of Margin) incurred by such Finance Party as a consequence of such notice of voluntary prepayment being revoked or any condition in such notice of voluntary prepayment not being satisfied or such prepayment not occurring on the relevant date specified in such notice of voluntary prepayment.
Notices of Cancellation or Prepayment. Any notice of cancellation, prepayment, authorisation or other election given by any Party under Clauses 7.3(a) (Effect of cancellation and prepayment), 7.3(b) (Effect of cancellation and prepayment) and 8 (Illegality, Voluntary Prepayment and Cancellation) shall:
(a) (subject to the terms of Clause 8 (Illegality, Voluntary Prepayment and Cancellation)) be irrevocable, provided that (in the case of Clause 8.3 (Voluntary prepayment)) the Company may revoke any notice of prepayment if the Company shall have specified in such notice of prepayment that such notice is revocable on or prior to the date of prepayment specified in such notice (provided further that this shall be without prejudice to Clause 17.2 (Other indemnities)); and
(b) unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment.
Notices of Cancellation or Prepayment. Any notice of cancellation or prepayment given by the Lender under clause 7.1 (Illegality) shall be irrevocable and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment. Any prepayment under this Agreement shall be made without premium or penalty.
Notices of Cancellation or Prepayment. (a) Sums due under clauses 7.1 (Project cost reduction), 7.2 (Non-EIB financing prepayment), 7.4 (Change of law) and 7.9 (Sanctions) shall be payable by the Borrower within 30 days of demand by the Bank or within any longer period specified in the Bank's demand.
Notices of Cancellation or Prepayment. (a) Subject to paragraph (b) below, any notice of cancellation, prepayment, authorisation or other election given by any Party under Clause 11 (Illegality, Voluntary Prepayment and Cancellation), shall (subject to the terms of those Clauses) be irrevocable (unless otherwise agreed by the Majority Lenders) and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment.
(b) In the event that the Borrower or the Company delivers, in relation to a voluntary prepayment and/or cancellation only, a conditional notice and/or revocable notice of cancellation and/or prepayment under this Agreement (which, for the avoidance of doubt, it shall be permitted to do), unless the Borrower or the Company (as applicable) gives notice to the Agent of at least one Business Day prior to the date on which the cancellation and/or prepayment was to be made, the Borrower or the Company (as applicable) shall be liable for any Break Costs if the relevant cancellation and/or prepayment is not made.
Notices of Cancellation or Prepayment. (a) Subject to paragraph (b) below, any notice of cancellation, prepayment, authorisation or other election given by any Party under Clause 11 (Illegality, Voluntary Prepayment and Cancellation) or paragraph (e) of Clause 12.4 (Application of mandatory prepayments and cancellations) shall (subject to the terms of those Clauses) be irrevocable and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment.
(b) The Borrowers may deliver conditional notices in respect of voluntary prepayments and/or voluntary cancellations under Clause 11 (Illegality, Voluntary Prepayment and Cancellation) provided that they shall indemnify the Lenders for any Break Costs if the relevant prepayment is not made.