Common use of Mandatory Reduction and Termination of Commitments Clause in Contracts

Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans then outstanding (together with accrued interest thereon) shall be due and payable on such date.

Appears in 12 contracts

Samples: Credit Agreement (Outback Steakhouse Inc), Credit Agreement (Avocent Corp), Credit Agreement (Outback Steakhouse Inc)

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Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans Advances, Swing Line Advances and if demand had not been earlier made Letter of Credit Advances then outstanding (together with accrued interest thereon) shall be due and payable on such date.

Appears in 4 contracts

Samples: Credit Agreement (Bassett Furniture Industries Inc), Credit Agreement (Bassett Furniture Industries Inc), Credit Agreement (Bassett Furniture Industries Inc)

Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans then outstanding (together with accrued interest thereon) shall be due and payable by the Borrower on such date.

Appears in 3 contracts

Samples: Credit Agreement (Mohawk Industries Inc), 364 Day Credit Agreement (Mohawk Industries Inc), Credit Agreement (Mohawk Industries Inc)

Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans then outstanding (together with accrued interest thereon) shall be due and payable on such datedate and the Borrower shall pledge in favor of the Agent cash collateral equal to at least 105% of the outstanding Letter of Credit Obligations, if any.

Appears in 2 contracts

Samples: Credit and Security Agreement (Commscope Inc), Credit and Security Agreement (Thomas & Betts Corp)

Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans Advances and if demand had not been earlier made Letter of Credit Advances then outstanding (together with accrued interest thereon) shall be due and payable on such date.

Appears in 2 contracts

Samples: Credit Agreement (Gladstone Commercial Corp), Credit Agreement (Gladstone Commercial Corp)

Mandatory Reduction and Termination of Commitments. The -------------------------------------------------- Commitments shall terminate on the Termination Date and any Loans then outstanding (together with accrued interest thereon) shall be due and payable on such date.

Appears in 2 contracts

Samples: Credit Agreement (JDN Realty Corp), Credit Agreement (JDN Realty Corp)

Mandatory Reduction and Termination of Commitments. The -------------------------------------------------- Commitments shall terminate on the Termination Date and any Loans then outstanding (together with accrued interest thereon) shall be due and payable by the Borrower on such date.

Appears in 1 contract

Samples: Credit Agreement (Mohawk Industries Inc)

Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans and all other Obligations then outstanding (together with accrued interest thereon) shall be due and payable on such date.

Appears in 1 contract

Samples: Credit Agreement (Airborne Inc /De/)

Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans then outstanding (together with accrued interest thereon) shall be due and payable on such date. The aggregate amount of Commitments shall be reduced by the amount of any mandatory prepayments required to be made pursuant to Section 2.10(c) (rounded to the nearest $1,000), on the date such required prepayments are required to be made pursuant thereto.

Appears in 1 contract

Samples: Credit Agreement (Gerber Scientific Inc)

Mandatory Reduction and Termination of Commitments. (a) The Commitments shall terminate on the Termination Date and any Revolver Loans then outstanding (together with accrued interest thereon) shall be due and payable on such date.

Appears in 1 contract

Samples: Credit Agreement (Trion Inc)

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Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans then outstanding (outstanding, together with accrued interest thereon) shall be due and payable on such date.all accrued

Appears in 1 contract

Samples: Credit Agreement (Guilford Mills Inc)

Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans Loans, Letter of Credit Obligations and other Obligations then outstanding (together with accrued interest thereon) shall be due and payable on such date.

Appears in 1 contract

Samples: Credit and Security Agreement (Thomaston Mills Inc)

Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans then outstanding (outstanding, together with all accrued but unpaid interest and fees thereon) , if any, shall be due and payable on such date.

Appears in 1 contract

Samples: Credit Agreement (Guilford Mills Inc)

Mandatory Reduction and Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans Advance then outstanding (together with accrued interest thereon) shall be due and payable on such date.

Appears in 1 contract

Samples: Credit Agreement (Liberty Corp)

Mandatory Reduction and Termination of Commitments. The Revolving Commitments shall terminate on the Termination Date and any Loans then outstanding (together with accrued interest thereon) shall be due and payable on such date.

Appears in 1 contract

Samples: Credit Agreement (Avocent Corp)

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