Common use of Right of cancellation and repayment in relation to a single Lender Clause in Contracts

Right of cancellation and repayment in relation to a single Lender. (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 14.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Obligors’ Agent or an Obligor under Clause 14.3 (Tax indemnity) or Clause 15.1 (Increased costs), the Obligors’ Agent may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the Loans. (b) On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Obligors’ Agent has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Obligors’ Agent in that notice), each Borrower to which a Loan is outstanding shall repay that Lender’s participation in that Loan together with all interest and other amounts accrued under the Finance Documents.

Right of cancellation and repayment in relation to a single Lender. (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 14.2 15.2 (Tax grossGross-upUp); or (ii) any Lender claims indemnification from the Obligors’ Agent Company or an Obligor under Clause 14.3 15.3 (Tax indemnityIndemnity) or Clause 15.1 16.1 (Increased costsCosts), the Obligors’ Agent Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the Loans. (b) Utilisations. On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (cb) On the last day of each Interest Period which ends after the Obligors’ Agent Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Obligors’ Agent Company in that notice), each Borrower to which a Loan Utilisation is outstanding shall repay that Lender’s participation in that Loan Utilisation together with all interest and other amounts accrued in favour of that Lender under the Finance Documents.

Right of cancellation and repayment in relation to a single Lender. (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 14.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Obligors’ Agent Parent or an Obligor under Clause 14.3 (Tax indemnity) or Clause 15.1 (Increased costs), the Obligors’ Agent Borrower may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the Loans. (b) On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Obligors’ Agent Borrower has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Obligors’ Agent Borrower in that notice), each the Borrower to which a Loan is outstanding shall repay that Lender’s participation in that Loan together with all interest and other amounts accrued under the Finance Documents.

Right of cancellation and repayment in relation to a single Lender. (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 14.2 15.2 (Tax grossGross-upUp); or (ii) any Lender claims indemnification from the Obligors’ Agent Company or an Obligor under Clause 14.3 15.3 (Tax indemnityIndemnity) or Clause 15.1 16.1 (Increased costsCosts), the Obligors’ Agent Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender▇▇▇▇▇▇’s participation in the Loans. (b) Utilisations. On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (cb) On the last day of each Interest Period which ends after the Obligors’ Agent Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Obligors’ Agent Company in that notice), each Borrower to which a Loan Utilisation is outstanding shall repay that Lender▇▇▇▇▇▇’s participation in that Loan Utilisation together with all interest and other amounts accrued in favour of that Lender under the Finance Documents.

Right of cancellation and repayment in relation to a single Lender. (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 14.2 (Tax grossGross-upUp); or (ii) any Lender claims indemnification from the Obligors’ Agent Company or an Obligor under Clause 14.3 (Tax indemnityIndemnity) or Clause 15.1 (Increased costsCosts), the Obligors’ Agent Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment Commitment(s) of that Lender and its intention to procure the repayment of that LenderL▇▇▇▇▇’s participation in the LoansUtilisations. (b) On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment Commitment(s) of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Obligors’ Agent Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Obligors’ Agent Company in that notice), each Borrower Company to which a Loan Utilisation is outstanding shall repay that LenderL▇▇▇▇▇’s participation in that Loan Utilisation together with all interest and other amounts accrued under the Finance Documents.

Right of cancellation and repayment in relation to a single Lender. (a) If: (i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 14.2 25.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Obligors’ Agent Company or an Obligor under Clause 14.3 25.3 (Tax indemnity) or Clause 15.1 26.1 (Increased costs), (any such Lender, an “Affected Lender”) the Obligors’ Agent may, Company may whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the LoansUtilisations. (b) On receipt of a notice referred to in paragraph (a) above in relation to a Lender, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each Interest Period which ends after the Obligors’ Agent Company has given notice under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Obligors’ Agent Company in that notice), each Borrower to which a Loan Utilisation is outstanding shall repay that Lender’s participation in that Loan Utilisation together with all interest and other amounts accrued under the Finance Documents.