Commitment Reduction Fee Sample Clauses

Commitment Reduction Fee. If the Borrowers shall terminate or reduce the Commitment in whole or in part at any time or times prior to the first anniversary of the date of this Agreement, at the effective date of each such termination or reduction they shall pay to the Lenders a Commitment Reduction Fee; provided, however, that the Borrowers shall not be required to pay a Commitment Reduction Fee more than once on the same reduced portion of the Commitment. Such Commitment Reduction Fee shall equal the Undrawn Commitment Fee calculated in accordance with Section 2.08 for the time period from the effective date of the reduction or termination to the first anniversary of the date of this Agreement, using the reduced Commitment Amount after giving effect to the reduction or termination as the outstanding principal amount of Advances under the Commitment for such period. For purposes of such calculation, for the entire period from the effective date of each reduction or termination to the first anniversary of the date of this Agreement the Borrowers shall be deemed to be in whatever Pricing Tier they were in at the effective date of the reduction or termination.
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Commitment Reduction Fee. The Companies shall have paid to Lender the first installment of the commitment reduction fee equal to $50,000, as set forth in Section 6 hereof;
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Commitment Reduction Fee. Borrowers hereby agree to pay Lender a commitment reduction fee of $140,000, which shall be fully earned as of the date hereof and due and payable as follows: (a) $50,000 of such fee shall be due and payable on the date hereof and (b) $90,000 of such fee shall be due and payable on the earlier to occur of (i) the termination of the Loan Agreement and (ii) December 31, 2001.
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Commitment Reduction Fee. In the event of any partial or full reduction or termination in the Total Revolving Commitments, then Borrower shall pay to the Agent for the account of the Lenders, in addition to any other amounts required to be paid under this Agreement, a commitment reduction fee ("Commitment Reduction Fee") equal to the following percentage of such reduction, such fee to be due and payable on the effective date of such reduction: Applicable Commitment Period Reduction Fee ------ ------------- Prior to the First Anniversary 1.50% On or after the First Anniversary 0.75% but prior to the Second Anniversary
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Commitment Reduction Fee. The unpaid balance of the commitment reduction fee set forth in Section 7 of the Consent and Fourth Amendment to Loan Agreement dated August 31, 2001 by and among Lender and Companies shall be due and payable as follows: (a) $45,000 of such fee shall be due and payable on December 31, 2001 and (b) $45,000 of such fee shall be due and payable on March 31, 2002.
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Commitment Reduction Fee. The definition of "Commitment Reduction Fee" is hereby amended to read as follows:
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Commitment Reduction Fee. If the Total Revolving Commitment is greater than Thirty Eight Million Dollars ($38,000,000) on April 30, 2005, then Borrower shall, on that date, pay to Agent for the account of Lenders in accordance with their Pro Rata Shares, a commitment reduction fee of One Million Dollars ($1,000,000).
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Commitment Reduction Fee. In the event of any partial or full reduction or termination in the Total Revolving Commitments, Borrower shall pay to Agent for the account of each Lender, in accordance with such Lender's Revolving Proportionate Share, in addition to any other amounts required to be paid under this Agreement, a commitment reduction fee ("Commitment Reduction Fee") equal to the following percentage of such reduction, such fee to be due and payable on the effective date of such reduction: Period Percentage ------ ---------- If reduced prior to the first anniversary of the Closing Date 1.50% If reduced on or after the first anniversary of the Closing Date but prior to the second anniversary of the Closing Date 0.75%
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Commitment Reduction Fee. On the Commitment Expiration Date, the Lessee, on behalf of the Lessor, shall be automatically required to pay to the Administrative Agent, for the benefit of the Facility Lenders pro rata in accordance with their respective Commitment Percentages, a fee (the “Reduction Fee”) equal to (i) the amount of the Designated Commitments multiplied by (ii) the Commitment Fee Rate as of the Commitment Expiration Date multiplied by (iii) the number of years (expressed as a decimal) remaining until the Maturity Date. The Reduction Fee shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days that would have elapsed from the date such fee is due through the Maturity Date (without giving effect to any acceleration of the Facility Loans on such date). On the date the payment of the Reduction Fee is due, the Lessee shall pay such Reduction Fee on behalf of the Lessor as Supplemental Rent.
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Related to Commitment Reduction Fee

  • Commitment Reduction The Borrowers shall have the right, upon at least two Business Days’ notice to the Administrative Agent, to terminate in whole or, upon same day notice, from time to time to permanently reduce ratably in part the unused portion of the Commitments; provided that each partial reduction shall be in the aggregate amount of $5,000,000 or in an integral multiple of $1,000,000 in excess thereof; provided, further, that the Commitments may not be reduced to an amount that is less than the aggregate Stated Amount of outstanding Letters of Credit. Subject to the foregoing, any reduction of the Commitments to an amount below $200,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount). Each such notice of termination or reduction shall be irrevocable; provided, further, that, if, after giving effect to any reduction of the Commitments, any Borrower Sublimit exceeds the amount of the aggregate Commitments, such sublimit shall be automatically reduced by the amount of such excess. Without limiting subsection (b) below, any Commitment reduced or terminated pursuant to this subsection (a) may not be reinstated.

  • Commitment Reductions Any reduction of the Revolving Loan Commitments required or permitted hereunder shall reduce the Revolving Loan Commitment of each Lender having a Revolving Loan Commitment on a pro rata basis based on the Commitment Ratio of such Lender for the Revolving Loan Commitment.

  • Mandatory Prepayments Commitment Reductions (a) No later than the first Business Day following the date of receipt by Holdings, Company or any of its Subsidiaries of any Net Asset Sale Proceeds from Asset Sales made in accordance with Sections 6.7(o), 6.7(p), and Section 6.9, or of any Net Insurance/Condemnation Proceeds, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to such Net Asset Sale Proceeds or Net Insurance/Condemnation Proceeds, as the case may be; provided, so long as Event of Default shall have occurred and be continuing, Company may deliver to Administrative Agent a certificate of an Authorized Officer of Company setting forth (1) that portion of such Net Asset Sale Proceeds or Net Insurance/Condemnation Proceeds (such portion being the "PROPOSED REINVESTMENT PROCEEDS") that Company or such Subsidiary intends to reinvest within 365 days of the date of receipt, in non-current assets useful in the business of Company and its Subsidiaries, which may include, in the case of any Proposed Reinvestment Proceeds which related to Net Insurance/Condemnation Proceeds, the repair, restoration or replacement of the applicable assets of Company or its Subsidiaries (such assets being "ELIGIBLE ASSETS") and (2) the proposed use of such Proposed Reinvestment Proceeds and such other information with respect to such reinvestment as Administrative Agent may reasonably request. In the event Collateral Agent shall receive any Net Insurance/Condemnation Proceeds in its capacity as loss payee pursuant to Section 5.5, Company hereby authorizes Collateral Agent to apply an amount equal to all such amounts in accordance with this Section 2.13(a); provided, if Company shall elect to exercise its option to reinvest any such proceeds pursuant to the first sentence of this Section 2.13(a), Company shall give notice to Administrative Agent of such election and Administrative Agent shall pay over to Company such proceeds and Company shall reinvest such proceeds in accordance with the terms of such sentence.

  • Mandatory Commitment Reductions (a) Scheduled Reductions in Facility A Commitment. Commencing March 31, 2000 and at the end of each calendar quarter thereafter, the Facility A Commitment shall be automatically and permanently reduced by an amount equal to the percentage of the Facility A Commitment as in effect on the Agreement Date, as set forth below: Amount of Dates of Facility A Commitment Reductions Each Reduction ----------------------------------------- --------------- March 31, 2000, June 30, 2000, September 30, 2000 and December 31, 2000 2.500% March 31, 2001, June 30, 2001, September 30, 2001 and December 31, 2001 3.750% March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002 5.000% March 31, 2003, June 30, 2003, September 30, 2003 and December 31, 2003 6.250% March 31, 2004, June 30, 2004, September 30, 2004 and December 31, 2004 7.500%

  • Mandatory Prepayments and Commitment Reductions 27 2.10 Conversion and Continuation Options............................29 2.11 Limitations on Eurodollar Tranches.............................29 2.12 Interest Rates and Payment Dates...............................29 2.13 Computation of Interest and Fees...............................30 2.14 Inability to Determine Interest Rate...........................30 2.15 Pro Rata Treatment and Payments................................31 2.16

  • Application of Commitment Reductions; Payment of Fees The Administrative Agent will promptly notify the Appropriate Lenders of any termination or reduction of unused portions of the Letter of Credit Sublimit or the Swing Line Sublimit or the unused Commitments of any Class under this Section 2.06. Upon any reduction of unused Commitments of any Class, the Commitment of each Lender of such Class shall be reduced by such Lender’s Pro Rata Share of the amount by which such Commitments are reduced (other than the termination of the Commitment of any Lender as provided in Section 3.07). All commitment fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

  • Voluntary Commitment Reductions (i) Borrower may, upon not less than three Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof to Administrative Agent (which original written or telephonic notice Administrative Agent will promptly transmit by telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments in an amount up to the amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; provided that any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount.

  • Voluntary Prepayments Commitment Reductions (a) Prior to the Stated Maturity Date, the Borrower may, from time to time on any Business Day, make a voluntary prepayment, in whole or in part, of the outstanding principal amount of the Loans; provided, however, that:

  • Increase in Total Commitment (a) The Company may from time to time, by written notice to the Administrative Agent (which shall deliver a copy thereof to each Lender), request that the Total Commitment be increased by an amount not to exceed the Incremental Facility Amount at such time. Such notice shall set forth the amount of the requested increase in the Total Commitment (which shall be an integral multiple of $10,000,000) and the date on which such increase is requested to become effective (which shall not be less than 10 Business Days or more than 60 days after the date of such notice), and shall offer to each Lender the opportunity to increase its Commitment by its Pro Rata Percentage of the proposed increased amount. Each Lender shall, by notice to the Company and the Administrative Agent given not more than 10 days after the date on which the Administrative Agent shall have delivered the Company's notice, either agree to increase its Commitment by all or a portion of the offered amount (each Lender so agreeing being an "Increasing Lender") or decline to increase its Commitment (and any Lender that does not deliver such notice within such period of 10 days shall be deemed to have declined to increase its Commitment) (each Lender so declining or being deemed to have declined being a "Non-Increasing Lender"). In the event that, on the 10th day after the Administrative Agent shall have delivered the Company's notice, the Lenders shall have agreed pursuant to the preceding sentence to increase their Commitments by an aggregate amount less than the increase in the Total Commitment requested by the Company, the Company may arrange for one or more banks or other financial institutions (any such bank or other financial institution referred to in this clause (a) being called an "Augmenting Lender"), which may include any Lender, to extend Commitments or increase their existing Commitments in an aggregate amount equal to the unsubscribed amount; provided that each Augmenting Lender, if not already a Lender hereunder, shall be subject to the approval of the Administrative Agent and the Company and each Augmenting Lender shall execute all such documentation as the Administrative Agent shall specify to evidence its Commitment and/or its status as a Lender hereunder. Any increase in the Total Commitment may be made in an amount which is less than the increase requested by the Company if the Company is unable to arrange for, or chooses not to arrange for, Augmenting Lenders.

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