Aggregate Commitments. The US Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the US Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the US Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Alternative Currency Sublimit, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, the Alternative Currency Sublimit, the Letter of Credit Sublimit or the Swing Line Sublimit, as applicable, shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the US Lenders of any such notice of termination or reduction of the Aggregate Commitments. Except as set forth above, the amount of any such Aggregate Commitment reduction shall not be applied to the Alternative Currency Sublimit, the Letter of Credit Sublimit or the Swing Line Sublimit unless otherwise specified by the US Borrower. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each US Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.
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Samples: Credit Agreement (Schnitzer Steel Industries Inc), Credit Agreement (Schnitzer Steel Industries Inc)
Aggregate Commitments. The US Borrower may, upon notice to the Administrative Agent, terminate the Aggregate CommitmentsCommitments A-1 or the Aggregate Commitments A-2, as applicable, or from time to time permanently reduce the Aggregate CommitmentsCommitments A-1 or the Aggregate Commitments A-2, as applicable; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the US Borrower shall not terminate or reduce the Aggregate Commitments A-1 or the Aggregate Commitments A-2, as applicable, if, after giving effect thereto and to any concurrent prepayments hereunder, the US A-1 Total Outstandings or US A-2 Total Outstandings, as applicable, would exceed the Aggregate CommitmentsCommitments A-1 or the Aggregate Commitments A-2, as applicable, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Alternative Currency SublimitCommitments A-1, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, the Alternative Currency SublimitCommitments A-1, the Letter of Credit Sublimit or the Swing Line Sublimit, as applicable, shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the US A-1 Lenders or the US A-2 Lenders, as applicable, of any such notice of termination or reduction of the Aggregate CommitmentsCommitments A-1 or the Aggregate Commitments A-2, as applicable. Except as set forth above, the amount of any such Aggregate Commitment A-1 reduction shall not be applied to the Alternative Currency Sublimit, the Letter of Credit Sublimit or the Swing Line Sublimit unless otherwise specified by the US Borrower. Any reduction of the Aggregate Commitments A-1 or the Aggregate Commitments A-2, as applicable, shall be applied to the US A-1 Commitment or US A-2 Commitment, as applicable, of each US Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments A-1 or the Aggregate Commitments A-2, as applicable, shall be paid on the effective date of such termination.
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Aggregate Commitments. The US Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the US Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the US Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Alternative Currency Sublimit, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, the Alternative Currency Sublimit, the Letter of Credit such Sublimit or the Swing Line Sublimit, as applicable, shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the US Lenders of any such notice of termination or reduction of the Aggregate Commitments. Except as set forth above, the The amount of any such Aggregate Commitment reduction shall not be applied to the Alternative Currency Sublimit, Sublimit or the Letter of Credit Sublimit or the Swing Line Sublimit unless otherwise specified by the US Borrower. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each US Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.
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Aggregate Commitments. The US Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the US Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the US Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Alternative Currency Sublimit, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, the Alternative Currency Sublimit, the Letter of Credit such Sublimit or the Swing Line Sublimit, as applicable, shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the US Lenders of any such notice of termination or reduction of the Aggregate Commitments. Except as set forth above, the The amount of any such Aggregate Commitment reduction shall not be applied to the Alternative Currency Sublimit, Sublimit or the Letter of Credit Sublimit or the Swing Line Sublimit unless otherwise specified by the US DWT 16166918v15 4900000-001225 Borrower. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each US Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.
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