Common use of Changes of Commitments Clause in Contracts

Changes of Commitments. (a) The aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Commitment Termination Date. In addition, the aggregate amount of the Revolving Credit Commitments shall be automatically reduced on each Revolving Credit Commitment Reduction Date set forth in column (A) below, (x) by an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (B) below opposite such Revolving Credit Commitment Reduction Date, (y) to an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (C) below opposite such Revolving Credit Commitment Reduction Date: (A) (B) (C) Revolving Credit Revolving Credit Revolving Credit Commitment Reduction Commitments Reduced Commitments Reduced Date Falling on or by the Following to the Following Nearest to: Amounts: Amounts: ---------- ------- ------- September 30, 1998 $ 100,000 $39,900,000 December 31, 1998 $ 100,000 $39,800,000 March 31, 1999 $ 700,000 $39,100,000 June 30, 1999 $ 700,000 $38,400,000 September 30, 1999 $ 700,000 $37,700,000 December 31, 1999 $ 700,000 $37,000,000 March 31, 2000 $1,000,000 $36,000,000 June 30, 2000 $ 1,000,000 $35,000,000 Credit Agreement ---------------- - 40 - September 30, 2000 $1,000,000 $34,000,000 December 31, 2000 $1,000,000 $33,000,000 March 31, 2001 $1,300,000 $31,700,000 June 30, 2001 $ 1,300,000 $30,400,000 September 30, 2001 $1,300,000 $29,100,000 December 31, 2001 $1,300,000 $27,800,000 March 31, 2002 $1,500,000 $26,300,000 June 30, 2002 $ 1,500,000 $24,800,000 September 30, 2002 $1,500,000 $23,300,000 December 31, 2002 $1,500,000 $21,800,000 March 31, 2003 $1,700,000 $20,100,000 June 30, 2003 $ 1,700,000 $18,400,000 September 30, 2003 $1,700,000 $16,700,000 December 31, 2003 $1,700,000 $15,000,000 March 31, 2004 $2,000,000 $13,000,000 June 30, 2004 $2,000,000 $11,000,000 September 30, 2004 $2,000,000 $ 9,000,000 December 31, 2004 $2,000,000 $ 7,000,000 March 31, 2005 $2,333,333 $ 4,666,667 June 30, 2005 $2,333,333 $ 2,333,334 September 30, 2005 $2,333,334 $ 0

Appears in 2 contracts

Sources: Credit Agreement (Mediacom Capital Corp), Credit Agreement (Mediacom LLC)

Changes of Commitments. (a) The Subject to the last sentence of this Section 2.04(a), the aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Commitment Termination Date. In addition, the aggregate amount of the Revolving Credit Commitments shall be automatically reduced on each Revolving Credit Commitment Reduction Date set forth in column (A) below, (x) by an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (B) below opposite such Revolving Credit Commitment Reduction Date, (y) to an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (C) below opposite such Revolving Credit Commitment Reduction Date: : (A) (B) (C) Revolving Credit Revolving Credit Revolving Credit Commitment Reduction Commitments Reduced Commitments Reduced Date Falling on or by the Following to the Following Nearest to: Amounts: Amounts: ---------- ------- ------- -------- -------- September 30, 1998 $ 100,000 $39,900,000 December 31, 1998 $ 100,000 $39,800,000 March 31, 1999 $ 700,000 $39,100,000 June 30, 1999 $ 700,000 $38,400,000 September 30, 1999 $ 700,000 $37,700,000 December 31, 1999 $ 700,000 $37,000,000 March 31, 2000 $1,000,000 $36,000,000 June 30, 2000 $ 1,000,000 $35,000,000 Credit Agreement ---------------- - 40 - September 30, 2000 $1,000,000 $34,000,000 December 31, 2000 $1,000,000 $33,000,000 March 31, 2001 $1,300,000 $31,700,000 June 30, 2001 $ 1,300,000 $30,400,000 September 30, 2001 $1,300,000 $29,100,000 December 31, 2001 $1,300,000 $27,800,000 March 31, 2002 $1,500,000 $26,300,000 June 30, 2002 $ 1,500,000 5,625,000 $24,800,000 September 30, 2002 $1,500,000 $23,300,000 444,375,000 December 31, 2002 $ 5,625,000 $1,500,000 $21,800,000 438,750,000 March 31, 2003 $ 5,625,000 $1,700,000 $20,100,000 433,125,000 June 30, 2003 $ 1,700,000 5,625,000 $18,400,000 427,500,000 September 30, 2003 $ 5,625,000 $1,700,000 $16,700,000 421,875,000 December 31, 2003 $ 5,625,000 $1,700,000 $15,000,000 416,250,000 March 31, 2004 $2,000,000 16,875,000 $13,000,000 399,375,000 June 30, 2004 $2,000,000 16,875,000 $11,000,000 382,500,000 September 30, 2004 $2,000,000 $ 9,000,000 16,875,000 $365,625,000 December 31, 2004 $2,000,000 $ 7,000,000 16,875,000 $348,750,000 March 31, 2005 $2,333,333 $ 4,666,667 22,500,000 $326,250,000 June 30, 2005 $2,333,333 $ 2,333,334 22,500,000 $303,750,000 September 30, 2005 $2,333,334 22,500,000 $281,250,000 December 31, 2005 $22,500,000 $258,750,000 March 31, 2006 $22,500,000 $236,250,000 June 30, 2006 $22,500,000 $213,750,000 September 30, 2006 $22,500,000 $191,250,000 December 31, 2006 $22,500,000 $168,750,000 March 31, 2007 $22,500,000 $146,250,000 June 30, 2007 $22,500,000 $123,750,000 September 30, 2007 $22,500,000 $101,250,000 December 31, 2007 $22,500,000 $ 078,750,000 March 31, 2008 $78,750,000 $ 0 As provided for in the definition of "Revolving Credit Commitment Termination Date" in Section 1.01, if Mediacom does not refinance its 1998 Senior Notes prior to March 31, 2007, with new Indebtedness having a maturity no earlier than two years after the payment of all amounts due under this Agreement and on terms satisfactory to the Administrative Agent and the Majority Lenders, the Revolving Credit Commitments shall be terminated, and the entire principal amount of the Revolving Credit Loans then outstanding shall, as provided for in

Appears in 1 contract

Sources: Credit Agreement (Mediacom Communications Corp)

Changes of Commitments. (a) The aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero at the close of business on the Revolving Credit Commitment Termination Date. In addition, the aggregate amount of the Revolving Credit Commitments shall be automatically reduced at the opening of business on each Revolving Credit Commitment Reduction Date set forth in column (A) below, (x) by an below to the amount (subject to reduction pursuant to paragraph (cd) below) equal to the amount set forth in column (B) below opposite such Revolving Credit Commitment Reduction Date, (y) to an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (C) below opposite such Revolving Credit Commitment Reduction Date: : (A) (B) (C) Revolving Credit Revolving Credit Commitment Revolving Credit Commitment Reduction Commitments Reduced Commitments Reduced Date Falling on or by the Following Reduced to the Following Nearest to: Amounts: Amounts: ---------- ------- ------- September 30, 1998 $ 100,000 Amounts ($39,900,000 December 31, 1998 $ 100,000 $39,800,000 March 31, 1999 $ 700,000 $39,100,000 June 30, 1999 $ 700,000 $38,400,000 September 30, 1999 $ 700,000 $37,700,000 December 31, 1999 $ 700,000 $37,000,000 ): March 31, 2000 $1,000,000 $36,000,000 390,000,000 June 30, 2000 $ 1,000,000 $35,000,000 Credit Agreement ---------------- - 40 - 380,000,000 September 30, 2000 $1,000,000 $34,000,000 370,000,000 December 31, 2000 $1,000,000 $33,000,000 360,000,000 March 31, 2001 $1,300,000 $31,700,000 339,250,000 June 30, 2001 $ 1,300,000 $30,400,000 318,500,000 September 30, 2001 $1,300,000 $29,100,000 297,750,000 December 31, 2001 $1,300,000 $27,800,000 277,000,000 March 31, 2002 $1,500,000 $26,300,000 256,250,000 June 30, 2002 $ 1,500,000 $24,800,000 235,500,000 September 30, 2002 $1,500,000 $23,300,000 214,750,000 December 31, 2002 $1,500,000 $21,800,000 194,000,000 March 31, 2003 $1,700,000 $20,100,000 173,250,000 June 30, 2003 $ 1,700,000 $18,400,000 152,500,000 September 30, 2003 $1,700,000 $16,700,000 131,750,000 December 31, 2003 $1,700,000 $15,000,000 111,000,000 March 31, 2004 $2,000,000 $13,000,000 $ 83,250,000 Credit Agreement June 30, 2004 $2,000,000 $11,000,000 $ 55,500,000 September 30, 2004 $2,000,000 $ 9,000,000 27,750,000 December 31, 2004 $2,000,000 $ 7,000,000 March 31, 2005 $2,333,333 $ 4,666,667 June 30, 2005 $2,333,333 $ 2,333,334 September 30, 2005 $2,333,334 $ 0 (b) The Borrower shall have the right at any time or from time to time (i) to terminate or to reduce the aggregate unused amount of the Tranche A Term Loan Commitments or the Tranche C Term Loan Commitments, (ii) so long as no Revolving Credit Loans or Letter of Credit Liabilities are outstanding, to terminate the Revolving Credit Commitments and (iii) to reduce the aggregate unused amount of the Revolving Credit Commitments (for which purpose use of the Revolving Credit Commitments shall be deemed to include Letter of Credit Liabilities); provided that (i) the Borrower shall give notice of each such termination or reduction as provided in Section 4.05 hereof and (ii) each partial reduction shall be in an aggregate amount at least equal to $5,000,000 and in integral multiples of $1,000,000 in excess thereof. (c) The Commitments shall automatically reduce as provided in Section 2.09 hereof. (d) Each reduction in the aggregate amount of the Revolving Credit Commitments pursuant to paragraph (b) above, or pursuant to Section 2.09 hereof, on any date shall result in an automatic and simultaneous reduction (but not below zero) in the aggregate amount of the Revolving Credit Commitments for each Revolving Credit Commitment Reduction Date (as reflected in column (B) at the end of paragraph (a) above) after such date in an amount equal to the amount of such reduction. (e) The aggregate amount of the Tranche A Term Loan Commitments shall be automatically reduced to zero at the close of business on the Restatement Effective Date. (f) The aggregate amount of the Tranche C Term Loan Commitments shall be automatically reduced to zero at the close of business on the Tranche C Term Loan Commitment Termination Date. (g) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Sources: Third Amended and Restated Credit Agreement (Sinclair Broadcast Group Inc)

Changes of Commitments. (a) The Subject to the last sentence of this Section 2.04(a), the aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Commitment Termination Date. In addition, the aggregate amount of the Revolving Credit Commitments shall be automatically reduced on each Revolving Credit Commitment Reduction Date set forth in column (A) below, (x) by an amount (subject to reduction pursuant to Credit Agreement ---------------- -39- paragraph (c) below) equal to the amount set forth in column (B) below opposite such Revolving Credit Commitment Reduction Date, (y) to an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (C) below opposite such Revolving Credit Commitment Reduction Date: : (A) (B) (C) Revolving Credit Revolving Credit Revolving Credit Commitment Reduction Commitments Reduced Commitments Reduced Date Falling on or by the Following to the Following Nearest to: Amounts: Amounts: ---------- ------- ------- September 30, 1998 $ 100,000 $39,900,000 December 31, 1998 $ 100,000 $39,800,000 March 31, 1999 $ 700,000 $39,100,000 June 30, 1999 $ 700,000 $38,400,000 September 30, 1999 $ 700,000 $37,700,000 December 31, 1999 $ 700,000 $37,000,000 March 31, 2000 $1,000,000 $36,000,000 June 30, 2000 $ 1,000,000 $35,000,000 Credit Agreement ---------------- - 40 - September 30, 2000 $1,000,000 $34,000,000 December 31, 2000 $1,000,000 $33,000,000 March 31, 2001 $1,300,000 $31,700,000 June 30, 2001 $ 1,300,000 $30,400,000 September 30, 2001 $1,300,000 $29,100,000 December 31, 2001 $1,300,000 $27,800,000 March 31, 2002 $1,500,000 $26,300,000 June 30, 2002 $ 1,500,000 $24,800,000 ----------- -------- -------- September 30, 2002 $1,500,000 $23,300,000 5,625,000 444,375,000 December 31, 2002 $1,500,000 $21,800,000 5,625,000 438,750,000 March 31, 2003 $1,700,000 $20,100,000 5,625,000 433,125,000 June 30, 2003 $ 1,700,000 $18,400,000 5,625,000 427,500,000 September 30, 2003 $1,700,000 $16,700,000 5,625,000 421,875,000 December 31, 2003 $1,700,000 $15,000,000 5,625,000 416,250,000 March 31, 2004 $2,000,000 $13,000,000 16,875,000 399,375,000 June 30, 2004 $2,000,000 $11,000,000 16,875,000 382,500,000 September 30, 2004 $2,000,000 $ 9,000,000 16,875,000 365,625,000 December 31, 2004 $2,000,000 $ 7,000,000 16,875,000 348,750,000 March 31, 2005 $2,333,333 $ 4,666,667 22,500,000 326,250,000 June 30, 2005 $2,333,333 $ 2,333,334 22,500,000 303,750,000 September 30, 2005 $2,333,334 $ 022,500,000 281,250,000 December 31, 2005 22,500,000 258,750,000 March 31, 2006 22,500,000 236,250,000 June 30, 2006 22,500,000 213,750,000 September 30, 2006 22,500,000 191,250,000 December 31, 2006 22,500,000 168,750,000 March 31, 2007 22,500,000 146,250,000 June 30, 2007 22,500,000 123,750,000 September 30, 2007 22,500,000 101,250,000 December 31, 2007 22,500,000 78,750,000 March 31, 2008 39,375,000 39,375,000 June 30, 2008 39,375,000 0 Credit Agreement ----------------

Appears in 1 contract

Sources: Credit Agreement (Mediacom Communications Corp)

Changes of Commitments. (a) Scheduled Reductions of Revolving Credit Commitments. The ---------------------------------------------------- aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Commitment Termination Date. In addition, the aggregate amount of the Revolving Credit Commitments shall be automatically reduced on each Revolving Credit Commitment Reduction Date set forth in column (A) below, (x) below by an amount (subject to reduction pursuant to paragraph (cd) below) equal to the amount percentage of the Final Commitment Amount (as defined below) set forth in column (B) below opposite such Revolving Credit Commitment Reduction Date, (y) to an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (C) below opposite such Revolving Credit Commitment Reduction Date: (A) : (B) (C) Revolving Credit Revolving Credit Revolving Credit Commitment Reduction Commitments Reduced Commitments Reduced Date Falling on or by the Following to the Following Nearest to: Amounts: AmountsPercentages: ---------- ------- ------- ----------- December 31, 2004 2.000% March 31, 2005 2.500% June 30, 2005 2.500% September 30, 1998 $ 100,000 $39,900,000 2005 2.500% December 31, 1998 $ 100,000 $39,800,000 March 31, 1999 $ 700,000 $39,100,000 June 30, 1999 $ 700,000 $38,400,000 September 30, 1999 $ 700,000 $37,700,000 December 31, 1999 $ 700,000 $37,000,000 March 31, 2000 $1,000,000 $36,000,000 June 30, 2000 $ 1,000,000 $35,000,000 2005 2.500% Credit Agreement ---------------- - 40 44 - March 31, 2006 3.125% June 30, 2006 3.125% September 30, 2000 $1,000,000 $34,000,000 2006 3.125% December 31, 2000 $1,000,000 $33,000,000 2006 3.125% March 31, 2001 $1,300,000 $31,700,000 2007 5.000% June 30, 2001 $ 1,300,000 $30,400,000 2007 5.000% September 30, 2001 $1,300,000 $29,100,000 2007 5.000% December 31, 2001 $1,300,000 $27,800,000 2007 5.000% March 31, 2002 $1,500,000 $26,300,000 2008 5.000% June 30, 2002 $ 1,500,000 $24,800,000 2008 5.000% September 30, 2002 $1,500,000 $23,300,000 2008 5.000% December 31, 2002 $1,500,000 $21,800,000 2008 5.000% March 31, 2003 $1,700,000 $20,100,000 2009 6.875% June 30, 2003 $ 1,700,000 $18,400,000 2009 6.875% September 30, 2003 $1,700,000 $16,700,000 2009 6.875% December 31, 2003 $1,700,000 $15,000,000 2009 6.875% March 31, 2004 $2,000,000 $13,000,000 June 2010 8.000% For purposes hereof, the "Final Commitment Amount" shall mean the ----------------------- aggregate amount of the Revolving Credit Commitments as at the close of business on November 30, 2004 $2,000,000 $11,000,000 September 30, 2004 $2,000,000 $ 9,000,000 December 31, 2004 $2,000,000 $ 7,000,000 March 31, 2005 $2,333,333 $ 4,666,667 June 30, 2005 $2,333,333 $ 2,333,334 September 30, 2005 $2,333,334 $ 02001 giving effect to any reduction that shall occur on such date pursuant to Section 2.04(c) hereof.

Appears in 1 contract

Sources: Credit Agreement (Mediacom Broadband Corp)