Common use of Mandatory Adjustments of Commitments, etc Clause in Contracts

Mandatory Adjustments of Commitments, etc. (a) The Total Commitment (and the A Term Commitment, B Term Commitment and Revolving Commitment of each Bank) shall terminate in its entirety on the Expiration Date unless the Initial Borrowing Date has occurred on or before such date. (b) Each of the Total A Term Commitment and Total B Term Commitment shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the making of A Term Loans and B Term Loans on such date). (c) The Total Revolving Commitment shall terminate in its entirety on the earlier of (i) the RF Maturity Date and (ii) the date on which any Change of Control occurs. (d) The Total Revolving Commitment shall be reduced on each of the dates set forth below in the aggregate amount specified opposite such date (each, a "Scheduled Reduction"). Date Amount ----- ------- November 13, 2000 $ 5,000,000 November 13, 2001 $10,000,000 (e) On each date upon which a mandatory repayment of Term Loans pursuant to Section 4.02(A)(c), (d), (e), (f), (g) or (h) is required (and exceeds in amount the aggregate principal amount of Term Loans then outstanding) or would be required if Term Loans were then outstanding, the Total Revolving Commitment shall be permanently reduced by the amount, if any, by which the amount required to be applied pursuant to said Section (determined as if an unlimited amount of Term Loans were actually outstanding) exceeds the aggregate principal amount of Term Loans then outstanding. (f) Each partial reduction of the Total Revolving Commitment pursuant to this Section 3.03 shall apply proportionately to the Revolving Commitment of each Bank.

Appears in 1 contract

Samples: Credit Agreement (Amtrol Inc /Ri/)

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Mandatory Adjustments of Commitments, etc. (a) The Total Commitment (and the A Term Commitment, B Term Commitment and Revolving Commitment of each Bank) shall terminate in its entirety on the Expiration Date October 18, 2002 unless the Initial Borrowing Date has occurred on or before such date. (b) Each of the Total A A-1 Term Loan Commitment and the Total B A-2 Term Loan Commitment shall terminate in its entirety on the Initial Borrowing Date (Date, immediately after giving effect to the making of A Term Loans and B Term Loans on such date). (c) The Total Revolving Loan Commitment (and the Revolving Loan Commitment of each Lender) shall terminate in its entirety on the earlier of (i) the RF Maturity Date and (iix) the date on which any a Change of Control occursEvent occurs and (y) the Revolving Loan Maturity Date. (d) The Total Revolving Commitment shall be reduced on each of the dates set forth below in the aggregate amount specified opposite such date (each, a "Scheduled Reduction"). Date Amount ----- ------- November 13, 2000 $ 5,000,000 November 13, 2001 $10,000,000 (e) On each date upon which a mandatory repayment of Term Loans pursuant to Section 4.02(A)(c), (d), (e), (f), (g) or (hi) is required (and exceeds in amount the aggregate principal amount of Term Loans then outstanding) or would be required if an unlimited amount of Term Loans were then outstanding, the Total Revolving Commitment shall be permanently reduced by the an amount, if any, by which the amount required to be applied pursuant to said Section Sections (determined as if an unlimited amount of Term Loans were actually outstanding) exceeds the aggregate principal amount of Term Loans then outstandingoutstanding shall be applied to permanently reduce the Total Revolving Loan Commitment; PROVIDED, HOWEVER, that in no event shall any reduction otherwise required pursuant to this Section 3.03(d) reduce the Total Revolving Loan Commitment to an amount less than $75,000,000. (fe) Each partial reduction or adjustment of the Total A-1 Term Loan Commitment, the Total A-2 Term Loan Commitment or the Total Revolving Loan Commitment pursuant to this Section 3.03 (or pursuant to Section 4.02) shall apply proportionately to the A-1 Term Loan Commitment, the A-2 Term Loan Commitment or the Revolving Commitment Loan Commitment, as the case may be, of each BankLender with such a Commitment.

Appears in 1 contract

Samples: Credit Agreement (Dade Behring Holdings Inc)

Mandatory Adjustments of Commitments, etc. (a) The Total ------------------------------------------ Commitment (and the A Term Commitment, B Term Commitment and Revolving Commitment of each Bank) shall terminate in its entirety on the Expiration Date March 31, 1997 unless the Initial Borrowing Date has occurred on or before such date. (b) Each of the The Total A Term Commitment and Total B Term Loan Commitment shall terminate in its entirety on the Initial Borrowing Date (Date, after giving effect to the making of A Term Loans and B Term Loans on such date). (c) The Total Revolving Loan Commitment (and the Revolving Loan Commitment of each Bank) shall terminate in its entirety on the earlier of (i) the RF Maturity Date and (iix) the date on which any a Change of Control occursEvent occurs and (y) the Maturity Date. (d) The Total Revolving Commitment shall be reduced on each of the dates set forth below in the aggregate amount specified opposite such date (each, a "Scheduled Reduction"). Date Amount ----- ------- November 13, 2000 $ 5,000,000 November 13, 2001 $10,000,000 (e) On each date upon which a mandatory repayment of Term Loans pursuant to Section 4.02(A)(c), (d), (e), (f), (g) or (h) is required (and exceeds in amount the aggregate principal amount of Term Loans then outstanding) or would be required if an un- limited amount of Term Loans were then outstanding, the Total Revolving Loan Commitment shall be permanently reduced by the amount, if any, by which the amount required to be applied pursuant to said Section Sections (determined as if an unlimited amount of Term Loans were actually outstanding) exceeds the aggregate principal amount of Term Loans then outstanding. Notwithstanding anything to the contrary contained in the immediately preceding sentence, in no event shall the Total Revolving Loan Commitment be reduced to an amount less than $25,000,000 pursuant to or as a result of this Section 3.03(d). (fe) Each partial reduction or adjustment of the Total Term Loan Commitment or the Total Revolving Loan Commitment pursuant to this Section 3.03 (or pursuant to Section 4.02) shall apply proportionately to the Term Loan Commitment or the Revolving Commitment Loan Commitment, as the case may be, of each BankBank with such a Commitment.

Appears in 1 contract

Samples: Credit Agreement (Wesley Jessen Visioncare Inc)

Mandatory Adjustments of Commitments, etc. (a) The Total Commitment (and the A Term Commitment, B Term Commitment and Revolving Commitment of each Bank) shall terminate in its entirety on the Expiration Date unless the Initial Borrowing Date has occurred on or before such date. (b) Each of the Total A Term Commitment and Total B Term Commitment shall terminate in its entirety on the Initial Borrowing Restatement Effective Date (after giving effect to the making Borrowing of A Term Loans and B Term Loans on such date). (b) The Total B Term Commitment shall be reduced at the time of each continuance or incurrence of B Term Loans in an amount equal to the aggregate principal amount of the B Term Loans so continued or incurred and shall terminate on the earlier of (x) the B Term Termination Date and (y) the date on which any Change of Control occurs. (c) The Total Revolving Commitment shall terminate in its entirety on the earlier of (ix) the RF Maturity Date and (iiy) the date on which any Change of Control occurs. (d) The Total Revolving Commitment shall be reduced on each of reduced, at the dates set forth below in the aggregate amount specified opposite such date (each, a "Scheduled Reduction"). Date Amount ----- ------- November 13, 2000 $ 5,000,000 November 13, 2001 $10,000,000 (e) On each date upon which a time that any required mandatory repayment of Term Loans would be made pursuant to Section 4.02(A)(c), (d), (e), (f), (g) or (hf) is required (and exceeds in amount the aggregate principal amount of Term Loans then outstanding) or would be required if Term Loans were then outstanding, in the Total Revolving Commitment shall be permanently reduced by the amount, if any, amount by which the amount such required to be applied pursuant to said Section repayment (determined as if an unlimited amount of Term Loans were actually then outstanding) exceeds the aggregate principal amount of Term Loans then outstanding. (fe) Each partial reduction of the Total B Term Commitment or Revolving Commitment pursuant to this Section 3.03 shall apply proportionately to the B Term Commitment or Revolving Commitment Commitment, as the case may be, of each Bank.

Appears in 1 contract

Samples: Credit Agreement (Zurn Industries Inc)

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Mandatory Adjustments of Commitments, etc. (a) The Total Commitment (and the A Term Commitment, B Term Commitment and Revolving Commitment of each Bank) shall terminate in its entirety on the Expiration Date unless the Initial Borrowing Date has occurred on or before such date. (b) Each of the Total A Term Commitment and Total B Term Commitment shall terminate in its entirety on the Initial Borrowing Restatement Effective Date (after giving effect to the making of A Term Loans and the B Term Loans on such date). (cb) The Total Revolving AR Commitment shall terminate in its entirety on the earlier earliest of (ix) the RF Maturity AR Termination Date, (y) the Revolving Facility Termination Date and (iiz) the date on which any Change of Control occurs. (dc) The Total Revolving AR Commitment shall be reduced on each of the dates set forth below date, if any, upon which the Loan Conversion occurs in the an aggregate amount specified opposite such date (each, a "Scheduled Reduction"). Date Amount ----- ------- November 13, 2000 $ 5,000,000 November 13, 2001 of $10,000,000100 million. (ed) On each date upon which a The Total AR Commitment shall be reduced at the time that any required mandatory repayment of Term Loans and AR Loans would be made prior to the AR Termination Date pursuant to Section 4.02(A)(c), (d), (e), (f), ) or (g) or (h) is required (and exceeds in amount the aggregate principal amount of Term Loans then outstanding) or would be required if Term Loans and AR Loans were then outstanding, the Total Revolving Commitment shall be permanently reduced by the outstanding in an amount, if any, by which the amount of such required to be applied pursuant to said Section repayment (determined as if an unlimited amount of Term such Loans were actually then outstanding) exceeds the aggregate principal amount of Term Loans and AR Loans then outstanding. (fe) Each partial reduction of the Total Revolving AR Commitment pursuant to this Section 3.03 shall apply (x) if made pursuant to clause (c) above, to each Bank in an amount equal to the AR Loans of such Bank converted into A Term Loans pursuant to the Loan Conversion and, if such reduction is in excess of such converted AR Loans, then as provided in clause (y) below, and (y) to the extent clause (x) is not applicable, proportionately to the Revolving Commitment AR Commitment, if any, of each Bank.

Appears in 1 contract

Samples: Acquisition Credit Agreement (Universal Outdoor Inc)

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