Mandatory Reduction of Commitments and Revolving Loan Repayments. The Total Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Lender) shall terminate in its entirety upon the earlier of (i) the Revolving Loan Maturity Date and (ii) unless the Required Lenders otherwise agree in writing, the date on which a Change of Control occurs.
Appears in 2 contracts
Samples: First Lien Credit Agreement (Lee Enterprises, Inc), Exit Credit Agreement (Lee Enterprises, Inc)
Mandatory Reduction of Commitments and Revolving Loan Repayments. (a) The Total Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Lender) shall terminate in its entirety upon the earlier of (i) the Revolving Loan Maturity Date and (ii) unless the Required Lenders otherwise agree in writing, the date on which a Change of Control occurs.
(b) On July 31, 2019, the Revolving Loan Commitment of each RL Lender (and the Total Revolving Loan Commitment) in effect on such date shall be automatically and permanently reduced by 15% and after giving effect to such reduction, the Borrower shall be in compliance with Section 5.02(a).
Appears in 2 contracts
Samples: Amendment Agreement (Lee Enterprises, Inc), Amendment Agreement (Lee Enterprises, Inc)
Mandatory Reduction of Commitments and Revolving Loan Repayments. The Total Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Lender) shall terminate in its entirety upon the earlier of (i) the Revolving Loan Maturity Date and (ii) unless the Required Lenders otherwise agree in writing, the date on which a Change of Control occurs.
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