Common use of Changes of Commitments Clause in Contracts

Changes of Commitments. (a) The aggregate amount of the Commitments shall be automatically reduced to zero on the Commitment Termination Date. (b) The Company shall have the right at any time or from time to time (i) so long as no Loans are outstanding, to terminate the Commitments and (ii) to reduce the aggregate unused amount of the Commitments; provided that (x) the Company shall give notice of each such termination or reduction as provided in Section 4.05 hereof and (y) each partial reduction shall be in an aggregate amount at least equal to $5,000,000 (or a larger multiple of $1,000,000). (c) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Allmerica Financial Corp)

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Changes of Commitments. (a) The aggregate amount of the Commitments shall be automatically reduced to zero on the Commitment Termination Date. (b) The Company shall have the right at any time or from time to time (i) so long as no Loans are outstanding, to terminate the Commitments and (ii) to reduce the aggregate unused amount of the Commitments; provided that (x) the -------- Company shall give notice of each such termination or reduction as provided in Section 4.05 hereof and (y) each partial reduction shall be in an aggregate amount at least equal to $5,000,000 (10,000,000 or a larger multiple in multiples of $1,000,000)1,000,000 in excess thereof. (c) The Commitments are subject to mandatory reduction as provided in Section 2.09 hereof. (d) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Provident Companies Inc /De/)

Changes of Commitments. (a) The aggregate amount of the Commitments shall be automatically reduced to zero on the Commitment Termination Date. (b) The Company shall have the right at any time or from time to time (i) so long as no Loans are outstanding, to terminate the Commitments and (ii) to reduce the aggregate unused amount of the Commitments; provided that (x) the -------- Company shall give notice of each such termination or reduction as provided in Section 4.05 hereof and (y) each partial reduction shall be in an aggregate amount at least equal to $5,000,000 (or a larger multiple of $1,000,000). (c) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Allmerica Financial Corp)

Changes of Commitments. (a) The aggregate amount of the Commitments shall be automatically reduced to zero on the Commitment Termination Date. (b) The Company shall have the right at any time or from time to time (i) so long as no Loans are outstanding, to terminate the Commitments and (ii) to reduce the aggregate unused amount of the Commitments; provided that (x) the Company shall give notice of each such termination or reduction as provided in Section 4.05 hereof and (y) each partial reduction shall be in an aggregate amount at least equal to $5,000,000 25,000,000 (or a larger multiple of $1,000,000). (c) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Iridium World Communications LTD)

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Changes of Commitments. (a) The aggregate amount of the Commitments shall be automatically reduced to zero on the Commitment Termination Date. (b) The Company shall have the right at any time or from time to time (i) so long as no Loans are outstanding, to terminate the Commitments and (ii) to reduce the aggregate unused amount of the Commitments; provided that (x) the Company shall give notice of each such termination or reduction as provided in Section 4.05 hereof and (y) each partial reduction shall be in an aggregate amount at least equal to $5,000,000 (or a larger multiple 10,000,000 and in multiples of $1,000,000)10,000,000 in excess thereof. (c) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Ohio Casualty Corp)

Changes of Commitments. (a) The aggregate amount of the Commitments shall be automatically reduced to zero on the Commitment Termination Date. (b) The Company shall have the right at any time or from time to time (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities are outstanding, to terminate the Commitments and (ii) to reduce the aggregate unused amount of the Commitments; provided that (x) the Company shall give notice of each such termination or reduction as provided in Section 4.05 hereof and (y) each partial reduction shall be in an aggregate amount at least equal to $5,000,000 (1,000,000 or a in any larger multiple of $1,000,000)100,000. (c) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Kash N Karry Food Stores Inc)

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