Adjustments of Commitments. (a) Optional Termination or Reductions of Commitments (Pro-Rata). The ------------------------------------------------------------ Borrower may, upon at least three Business Days' notice to the Administrative Agent, (i) terminate the Revolving Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by an aggregate amount of $10,000,000 or any larger multiple of $5,000,000, the aggregate amount of the Revolving Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Revolving Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.
Appears in 3 contracts
Samples: 364 Day Credit Agreement (PPL Corp), 364 Day Credit Agreement (PPL Corp), Credit Agreement (PPL Corp)
Adjustments of Commitments. (a) Optional Termination or Reductions of Commitments (Pro-Rata). The ------------------------------------------------------------ Borrower may, upon at least three Business Days' β prior written notice to the Administrative Agent, permanently
(i) terminate the Revolving Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by an aggregate a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Revolving Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Revolving Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.
Appears in 2 contracts
Samples: Revolving Credit Agreement, Revolving Credit Agreement
Adjustments of Commitments. (a) Optional Termination or Reductions of Commitments (Pro-Rata). The ------------------------------------------------------------ Borrower may, upon at least three Business Days' β prior written notice to the Administrative Agent, (i) terminate the Revolving Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by an aggregate a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Revolving Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Revolving Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.
Appears in 2 contracts
Samples: Five Year Credit Agreement (PPL Energy Supply LLC), Five Year Credit Agreement (PPL Electric Utilities Corp)
Adjustments of Commitments. (a) Optional Termination or Reductions of Commitments (Pro-Rata). The ------------------------------------------------------------ Borrower may, upon at least three Business Days' notice to the Administrative Agent, (i) terminate the Revolving Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by an aggregate amount of $10,000,000 or any larger multiple of $5,000,000, the aggregate amount of the Revolving Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Revolving Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.
Appears in 1 contract
Samples: 364 Day Credit Agreement (PPL Electric Utilities Corp)