Common use of Commitment; Reduction of Commitment Clause in Contracts

Commitment; Reduction of Commitment. From and including the date of this Agreement and prior to the Termination Date, the Lender agrees, on the terms and conditions set forth in this Agreement, to make Loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding the amount of the Commitment. The Borrower may permanently reduce the Commitment, in integral multiples of $1,000,000, upon at least five Business Days' written notice to the Lender; provided, however, that the amount of the Commitment may not be reduced below the aggregate principal amount of the outstanding Loans.

Appears in 2 contracts

Samples: Credit Agreement (Origen Financial Inc), Credit Agreement (Bingham Financial Services Corp)

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Commitment; Reduction of Commitment. From and including the date of ------------------------------------- this Agreement and prior to the Termination Date, the Lender agrees, on the terms and conditions set forth in this Agreement, to make Loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding the amount of the Commitment. The Borrower may permanently reduce the Commitment, in integral multiples of $1,000,000, upon at least five Business Days' written notice to the Lender; provided, however, that the amount of the Commitment may not be reduced below the aggregate principal amount of the outstanding Loans.

Appears in 1 contract

Samples: Credit Agreement (Howmet International Inc)

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Commitment; Reduction of Commitment. From and including the date of this Agreement and prior to the Termination Date, the Lender agrees, on the terms and conditions set forth in this Agreement, to make Loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding the amount of the Commitment. The Borrower may permanently reduce the Commitment, in integral multiples of $1,000,000500,000.00, upon at least five three Business Days' written notice to the Lender; providedPROVIDED, howeverHOWEVER, that the amount of the Commitment may not be reduced below the aggregate principal amount of the outstanding Loans.

Appears in 1 contract

Samples: Credit Agreement (Rockshox Inc)

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