Common use of Right of Clause in Contracts

Right of. prepayment and cancellation 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 (a) of Clause 12.2 (Tax gross-up); or (ii) any Lender claims indemnification from the Borrowers under Clause 12.3 (Tax indemnity) or Clause 13.1 (Increased Costs), the Borrowers 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 their intention to prepay 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. (c) On the last day of each Interest Period which ends after the Borrowers have given notice under paragraph (a) above (or, if earlier, the date specified by the Borrowers in that notice), the Borrowers shall prepay that Lender's participation in the Loans,

Right of. prepayment repayment and cancellation in relation to a single Lender (a) If: (i) any sum payable to any Lender by an Obligor the Borrower is required to be increased under paragraph (a) of Clause 12.2 13.2 (Tax gross-up) or Clause 13.6 (Indirect tax); or (ii) any Lender claims indemnification from the Borrowers Borrower under Clause 12.3 13.3 (Tax indemnity) or Clause 13.1 14 (Increased Costs), the Borrowers Borrower may, whilst the circumstance giving rise to the requirement or indemnification continues, give the Facility Agent notice of cancellation of the Commitment of that Lender and their its intention to prepay procure the repayment of that Lender's ’s participation in the LoansLoan. (b) On receipt of a notice referred to in paragraph (a) above, the Commitment of that Lender shall immediately be reduced to zero. (c) On the last day of each the Interest Period which ends after the Borrowers have Borrower has given notice under paragraph (a) above (or, if earlier, the date specified by the Borrowers Borrower in that notice), the Borrowers Borrower shall prepay repay that Lender's ’s participation in the Loans,Loan.