Right of repayment and cancellation in relation to a single Lender. (a) If: (i) any sum payable to any Lender by the Parent or an Obligor is required to be increased under paragraph (c) of Clause 13.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Original Borrowers under Clause 13.3 (Tax indemnity) or Clause 14 (Increased costs), the Company may, whilst the circumstance giving rise to the requirement 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, the Commitment of that Lender shall immediately be reduced to zero. A07131148/0.28/12 Dec 2006 (c) On the last day of each Interest Period which ends after the Company has given notice under paragraph (a) above (or, if earlier, the date specified by the Company in that notice), each Borrower to which a Loan is outstanding shall repay that Lender's participation in that Loan.
Appears in 1 contract
Sources: Facility Agreement (Allied Healthcare International Inc)
Right of repayment and cancellation in relation to a single Lender. (a) If:
(i) any sum payable to any Lender by the Parent or an Obligor under the Finance Documents to which it is a party in accordance with their respective terms, is required to be increased under paragraph (c) of Clause 13.2 12.2 (Tax gross-up)) or under that clause as incorporated by reference or in full in any other Finance Document; or
(ii) any Lender claims indemnification from the Original Borrowers Borrower under Clause 13.3 12.3 (Tax indemnity) or Clause 14 13.1 (Increased costs), the Company may, Borrower may whilst in the case of sub-paragraphs (i) and (ii) above the circumstance giving rise to the requirement for that increase or indemnification continues, give the Facility Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender▇▇▇▇▇▇'s participation in the LoansLoan.
(b) On receipt of a notice of cancellation referred to in paragraph (a) above, the Commitment of that Lender shall immediately be reduced to zero. A07131148/0.28/12 Dec 2006.
(c) On the last day of each Interest Period which ends after the Company Borrower has given notice of cancellation under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Company Borrower in that notice), each the Borrower to which a Loan is outstanding shall repay that Lender▇▇▇▇▇▇'s participation in that the Loan.
Appears in 1 contract
Sources: Facility Agreement (Euroseas Ltd.)
Right of repayment and cancellation in relation to a single Lender. (a) If:
(i) any sum payable to any Lender by the Parent Borrower or an Obligor a Security Party or any Approved Manager is required to be increased under paragraph (cb) of Clause 13.2 (Tax gross-up)22.2 or under that Clause as incorporated by reference or in full in any other Finance Document; or
(ii) any Lender claims indemnification from the Original Borrowers Borrower under Clause 13.3 24.1; or
(Tax indemnityiii) or the Agent receives notification from a Relevant Lender under Clause 14 (Increased costs)5.6, the Company Borrower may, :
(A) whilst in the case of sub-paragraphs (i) and (ii) above the circumstance giving rise to the requirement for that increase or indemnification continues; or
(B) whilst in the case of sub-paragraph (iii) above the situation in relation to the Relevant L▇▇▇▇▇ continues, give the Agent notice of cancellation of the Commitment of that Lender L▇▇▇▇▇ and its intention to procure the repayment of that LenderL▇▇▇▇▇'s participation in the LoansLoan.
(b) On receipt of a notice of cancellation referred to in paragraph (a) above, the Commitment of that Lender shall immediately be reduced to zero. A07131148/0.28/12 Dec 2006.
(c) On the last day of each Interest Period which ends after the Company has Borrower have given notice of cancellation under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Company Borrower in that notice), each the Borrower to which a Loan is outstanding shall repay that LenderL▇▇▇▇▇'s participation in that the Loan.
Appears in 1 contract
Right of repayment and cancellation in relation to a single Lender. (a) If:
(i) any sum payable to any Lender by the Parent Borrower or an Obligor a Security Party is required to be increased under paragraph (cb) of Clause 13.2 (Tax gross-up)22.2 or under that Clause as incorporated by reference or in full in any other Finance Document; or
(ii) any Lender claims indemnification from the Original Borrowers Borrower under Clause 13.3 24.1; or
(Tax indemnityiii) or the Agent receives notification from a Relevant Lender under Clause 14 (Increased costs)5.7, the Company Borrower may, :
(A) whilst in the case of sub-paragraphs (i) and (ii) above the circumstance giving rise to the requirement for that increase or indemnification continues; or
(B) whilst in the case of sub-paragraph (iii) above the situation in relation to the Relevant Lender continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender's ’s participation in the LoansLoan.
(b) On receipt of a notice of cancellation referred to in paragraph (a) above, the Commitment of that Lender shall immediately be reduced to zero. A07131148/0.28/12 Dec 2006.
(c) On the last day of each Interest Period which ends after the Company has Borrower have given notice of cancellation under paragraph (a) above in relation to a Lender (or, if earlier, the date specified by the Company Borrower in that notice), each the Borrower to which a Loan is outstanding shall repay that Lender's ’s participation in that the Loan.
Appears in 1 contract
Right of repayment and cancellation in relation to a single Lender. (a) If:
(i) any sum payable to any Lender by the Parent or an Obligor is required to be increased under paragraph (c) of Clause 13.2 14.2 (Tax gross-up); or;
(ii) any Lender claims indemnification from the Original Borrowers Parent or an Obligor under Clause 13.3 14.3 (Tax indemnity) or Clause 14 15.1 (Increased costs); or
(iii) any Lender notifies the Facility Agent of its Additional Cost Rate under paragraph 3 of Schedule 4 (Mandatory Cost Formulae), the Company Obligors’ Agent may, whilst (in the case of paragraphs (i) and (ii) above) the circumstance giving rise to the requirement or indemnification continuescontinues or whilst (in the case of paragraph (iii) above) that Additional Cost Rate is greater than zero, give the Facility Agent notice of cancellation of the Commitment Commitments of that Lender and its intention to procure the repayment of that Lender's ’s participation in the Loans.
(b) On receipt of a notice from the Obligors’ Agent referred to in paragraph (a) above, the Commitment Commitments of that Lender shall immediately be reduced to zero. A07131148/0.28/12 Dec 2006.
(c) On the last day of each Interest Period which ends after the Company Obligors’ Agent has given notice under paragraph (a) above (or, if earlier, the date specified by the Company Obligors’ Agent in that notice), each Borrower to which a Loan is outstanding shall repay that Lender's ’s participation in that Loan.
Appears in 1 contract
Sources: Facility Agreement (Yell Finance Bv)