Common use of Mandatory Reduction of Commitments Clause in Contracts

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination Date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment (and the Commitments of each Lender) shall be reduced: (i) (immediately after the relevant Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 6 contracts

Samples: Credit Agreement (Norwegian Cruise Line Holdings Ltd.), Credit Agreement (Norwegian Cruise Line Holdings Ltd.), Credit Agreement (NCL CORP Ltd.)

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Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Initial Term Loan Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination DateClosing Date after the funding of all Initial Term Loans on such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Amendment (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: (i) (immediately terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment after the funding of all relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 6 contracts

Samples: Term Loan Credit Agreement (Ingram Micro Holding Corp), Term Loan Credit Agreement (Ingram Micro Holding Corp), Term Loan Credit Agreement (Ingram Micro Holding Corp)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Initial Term Loan Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination DateClosing Date (after giving effect to the incurrence of Initial Term Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment (i) (immediately after giving effect to the incurrence of the relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 4 contracts

Samples: First Lien Term Loan Credit Agreement (PAE Inc), Second Lien Term Loan Credit Agreement (PAE Inc), Term Loan Credit Agreement

Mandatory Reduction of Commitments. (a) The Total Commitment (and the Tranche B Term Loan Commitment, the Tranche C Term Loan Commitment and the Credit-Linked Commitment of each Lender with such a Commitment) shall terminate in its entirety on April 12, 2006, unless the Restatement Effective Date has occurred on or before such date. In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Tranche B Term Loan Commitment (and the Tranche B Term Loan Commitment of each LenderLender with such a Commitment) shall terminate in its entirety on the Commitment Termination DateRestatement Effective Date (after giving effect to the making of Tranche B Term Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Tranche C Term Loan Commitment (and the Commitments Tranche C Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: terminate in its entirety on the Restatement Effective Date (i) (immediately after giving effect to the relevant making of Tranche C Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Credit-Linked Commitment shall be terminated at reduced on the times dates, and in the amounts provided in Sections 2A.04(c) and 2B.04(c). At the time of any termination or reduction of the Total Credit-Linked Commitment pursuant to Section 2A.04(c), Section 2B.04(c), this Section 3.03 or Section 10, the actions required by Section 4.022C.04(a) shall be taken. Each reduction to, or termination of, the Total Credit-Linked Commitment shall be applied to proportionately reduce or terminate, as the case may be, the Credit-Linked Commitment of each CL Lender (in accordance with their respective CL Percentages). (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Incremental Term Loan Commitment under a given Tranche shall (i) be permanently reduced on each Incremental Term Loan Borrowing Date in respect of such Tranche in an amount equal to the aggregate principal amount of Incremental Term Loans of such Tranche incurred on each such date, (ii) terminate in its entirety (to the extent not theretofore terminated) on the Incremental Term Loan Commitment Termination Date for such Tranche of Incremental Term Loans (after giving effect to any Incremental Term Loans of such Tranche to be made on such date) and (iii) prior to the termination of the Total Incremental Term Loan Commitment in respect of such Tranche, be permanently reduced from time to time to the extent required by Section 4.02. (e) Each reduction to the Total Tranche B Term Loan Commitment, the Total Tranche C Term Loan Commitment, the Total Credit-Linked Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 as provided above (or pursuant to Section 3.03 and 3.02 of 4.02) shall be applied proportionately to reduce the Other Tranche B Term Loan FacilityCommitment, the Tranche C Term Loan Commitment, the Total Credit-Linked Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each Lender with such a Commitment. (f) In addition to any other mandatory commitment reductions pursuant to this Section 3.03, on the Restatement Effective Date (and concurrently with the occurrence thereof) the Total Multicurrency Facility Revolving Loan Commitment (as defined in the Original Credit Agreement), the Multicurrency Facility Revolving Loan Commitment (as defined in the Original Credit Agreement) of each Original Lender, the Total Dollar Facility Revolving Loan Commitment (as defined in the Original Credit Agreement) and the Dollar Facility Revolving Loan Commitment (as defined in the Original Credit Agreement) of each Original Lender, shall all be terminated in their entirety.

Appears in 4 contracts

Samples: Credit Agreement (Dole Food Co Inc), Credit Agreement (Dole Food Co Inc), Credit Agreement (Dole Food Co Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Initial Term Loan Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Closing Date after the funding of all Initial Term Loans on such date. In addition to any other mandatory commitment reductions pursuant to this Section 4.02, the Additional Term B Loan Commitment Termination Dateshall terminate in its entirety on the Amendment No. 1 Effective Date after the funding of all Term B Loans to be funded pursuant thereto on such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: (i) (immediately terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment after the funding of all relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 3 contracts

Samples: Term Loan Credit Agreement (Vertiv Holdings Co), Term Loan Credit Agreement (Vertiv Holdings Co), Term Loan Credit Agreement (Vertiv Holdings Co)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreementsubsection 4.4, the Total Initial Term Loan Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination DateEffective Date after the funding of all Initial Term Loans on such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreementsubsection 4.4, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: (i) (immediately terminate in its entirety on the Incremental Term Loan Borrowing Date for such Incremental Term Loan Commitment after the funding of all relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and Section 4.02 subsection 4.4 as provided above (or pursuant to subsection 4.6) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 3 contracts

Samples: Term Loan Exchange Agreement (Cumulus Media Inc), Credit Agreement (Cumulus Media Inc), Credit Agreement (Cumulus Media Inc)

Mandatory Reduction of Commitments. (a) The Total Commitment (and the Commitments of each Lender) shall terminate in its entirety on July 31, 2010, unless the Initial Borrowing Date has occurred on or prior to such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section 4.03, (x) the Total Commitment shall be reduced on each Borrowing Date (immediately after giving effect to the borrowing of this Agreement, Initial Loans on such date) by the aggregate principal amount of Initial Loans borrowed on such date and (y) the Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination DateMerger Closing Date (after giving effect to any incurrence of Initial Loans on such date). (bc) [Intentionally Omitted.] (d) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other 4.03, on the date of each issuance of Permitted Notes pursuant to Section of this Agreement11.01(ii), the Total Commitment (and the Commitments of each Lender) shall be reduced: (i) (immediately after the relevant Loans are made) on each Borrowing Date reduced by the aggregate principal amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing datePermitted Notes so issued. (ce) [Intentionally Omitted]. (f) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.03, the Total Commitment shall be terminated at permanently reduced from time to time to the times extent required by Section 4.025.02(g)(ii). (dg) [Intentionally Omitted]. (h) Each reduction to to, or termination of, the Total Commitment pursuant to this Section 3.03 and Section 4.02 4.03 shall be applied to proportionately to reduce or terminate, as the case may be, the Commitment of each LenderLender with a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 2 contracts

Samples: Bridge Loan Agreement (CF Industries Holdings, Inc.), Bridge Loan Agreement (CF Industries Holdings, Inc.)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, (i) the Total Initial Term Loan Commitment terminated in its entirety on the First Restatement Effective Date after the funding of all Initial Term Loans on such date and (and ii) the 2021 Incremental Term Loan Commitment of each Lender) shall terminate in its entirety on the Commitment Termination DateAmendment No. 1 Effective Date (after giving effect to the incurrence of the 2021 Incremental Term Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Amendment (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: (i) (immediately terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment after the funding of all relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 2 contracts

Samples: First Lien Term Loan Credit Agreement (VERRA MOBILITY Corp), First Lien Term Loan Credit Agreement (VERRA MOBILITY Corp)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Initial Term Loan Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination DateClosing Date after the funding of all Initial Term Loans on such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: (i) (immediately terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment after the funding of all relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Vertiv Holdings Co), Term Loan Credit Agreement (Kemet Corp)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Initial Term Loan Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Closing Date after the funding of all Initial Term Loans on such date. In addition to any other mandatory commitment reductions pursuant to this Section 4.02, the Total Term B Loan Commitment Termination Dateshall terminate in its entirety on the Amendment No. 2 Effective Date after the funding of all Additional Term B Loans on such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Amendment (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: (i) (immediately terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment after the funding of all relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment, the Total Term B Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment, the Term B Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Ingram Micro Holding Corp), Term Loan Credit Agreement (Ingram Micro Holding Corp)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination earlier of (x) December 31, 2009, if the Initial Borrowing Date has not occurred on or before such date, and (y) the Maturity Date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment (and the Commitments of each Lender) shall be reduced: (i) (immediately after reduced at the relevant Loans are made) on each Borrowing Date times, and in the amounts, required by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateSection 4.02. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, to the extent the aggregate principal amount of Senior Secured Notes issued on the Initial Borrowing Date exceeds [*], the Total Commitments hereunder shall be reduced on such date on a dollar-for-dollar basis by the amount by which the aggregate principal amount of Senior Secured Notes exceeds [*]. (d) In addition to any other mandatory commitment reductions pursuant to this Section 3.03, on the Business Date following the receipt of any net cash proceeds from the issuance after the Initial Borrowing Date of any Senior Secured Notes or Other Senior Secured Notes, the Total Commitment shall be terminated at automatically reduced (without further action of the times required by Section 4.02Borrower being required) in an amount equal to the aggregate net cash proceeds from the issuance of such Senior Secured Notes or such Other Senior Secured Notes. (de) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment Lender and shall be reduced pursuant applied to Section 3.03 and 3.02 of reduce the Other Term Loan Facilitythen remaining Scheduled Commitment Reductions on a pro rata basis after giving effect thereto).

Appears in 2 contracts

Samples: Credit Agreement (NCL CORP Ltd.), Credit Agreement (NCL CORP Ltd.)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the Term Loan Commitment and the Revolving Loan Commitment of each LenderLender with such a Commitment) shall terminate in its entirety on April 30, 2004 unless the Commitment Termination DateInitial Borrowing Date has occurred on or before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Term Loan Commitment (and the Commitments Term Loan Commitment of each Lender) shall be reduced: (i) (immediately after terminate in its entirety on the relevant Loans are made) on each Initial Borrowing Date by (after giving effect to the amount making of Total Commitment utilized to make the Term Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Lender) shall be terminated at terminate in its entirety on the times required by Section 4.02earlier to occur of (i) the Revolving Loan Maturity Date and (ii) unless the Required Lenders shall otherwise consent in writing in their sole discretion, a Change of Control. (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment shall be permanently reduced from time to time to the extent required by Section 4.02. (e) Each reduction to the Total Term Loan Commitment or Total Revolving Loan Commitment pursuant to this Section 3.03 (or pursuant to Section 3.03 and 3.02 of 4.02) shall be applied proportionately to reduce the Other Term Loan FacilityCommitment or the Revolving Loan Commitment, as the case may be, of each Lender with such a Commitment.

Appears in 1 contract

Samples: Credit Agreement (EnerSys)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the Term Loan Commitment and the Revolving Loan Commitment of each LenderBank) shall terminate in its entirety on December 31, 1996 and the Commitment Termination DateOriginal Credit Agreement shall continue in effect unless the Restatement Effective Date shall have occurred on or prior to such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Term Loan Commitment (and the Commitments Term Loan Commitment of each LenderBank) shall be reduced: (i) terminate in its entirety on the Restatement Effective Date (immediately after giving effect to the relevant making of the Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and date) and (ii) on each borrowing date under prior to the Other termination of the Total Term Loan Facility Commitment as provided in clause (immediately after i) above, be reduced from time to time to the relevant loans are made on such borrowing date under the Other Term Loan Facility) extent required by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateSection 4.02. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment (and the Revolving Loan Commitment of each Bank) shall be terminated at terminate in its entirety on the times required by Section 4.02Maturity Date. (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section 3.03, on each date after the Restatement Effective Date upon which a mandatory prepayment of this Agreement, the Total Commitment shall be reduced Term Loans pursuant to Section 3.03 4.02(d), (e) or (f) is required (and 3.02 of ex- (e) Each reduction to the Other Total Term Loan FacilityCommitment and the Total Revolving Loan Commitment pursuant to this Section 3.03 (or pursuant to Section 4.02) shall be applied proportionately to reduce the Term Loan Commitment or the Revolving Loan Commitment, as the case may be, of each Bank with such a Commitment.

Appears in 1 contract

Samples: Credit Agreement (Howmet Corp /New/)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, (i) prior to the Amendment No. 1 Effective Date, the Total Initial Term Loan Commitment terminated in its entirety on the Closing Date and (and ii) the 2017 Additional Term Commitment of each Lender) shall terminate in its entirety on the Commitment Termination DateAmendment No. 1 Effective Date (after giving effect to the incurrence of 2017 Additional Term Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment (i) (immediately after giving effect to the incurrence of the relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: First Lien Term Loan Credit Agreement (PAE Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, (i) prior to the Amendment No. 1 Effective Date, the Total Initial Term Loan Commitment terminated in its entirety on the Closing Date and (and ii) the 2017 Additional Term Commitment of each Lender) shall terminate in its entirety on the Commitment Termination DateClosingAmendment No. 1 Effective Date (after giving effect to the incurrence of Initialthe 2017 Additional Term Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment (i) (immediately after giving effect to the incurrence of the relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Second Lien Term Loan Credit Agreement (PAE Inc)

Mandatory Reduction of Commitments. (a) The Total Commitment (and the Commitment of each Lender) shall terminate on April 30, 2006 if the Initial Borrowing Date has not occurred on or prior to such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination Final Maturity Date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment (and the Commitments of each Lender) shall be reduced: (i) (immediately after the relevant Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory repayments or commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, on each date set forth below (each a “Scheduled Commitment Reduction Date”), the Total Commitment as then in effect shall be terminated at reduced by the times required by Section 4.02amount set forth opposite such Scheduled Commitment Reduction Date in the table below (each such reduction, as the same may be reduced as provided in Sections 3.02, a “Scheduled Commitment Reduction”): February 9, 2011 $ 150,000,000 February 9, 2012 $ 150,000,000 (d) Unless the Majority Lenders otherwise agree, the Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on the 60th day following the occurrence of a Change of Control. (de) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (ef) In addition to Upon any other mandatory commitment reductions termination or reduction of commitments pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Commitment Borrowers shall be reduced pursuant required to take the actions specified in Section 3.03 and 3.02 of the Other Term Loan Facility4.02(a).

Appears in 1 contract

Samples: Credit Agreement (Overseas Shipholding Group Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the Term Loan Commitment and the Revolving Loan Commitment of each LenderBank with such a Commitment) shall terminate in its entirety on January 15, 2000 unless the Commitment Termination DateEffective Date has occurred on or before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Term Loan Commitment (and the Commitments Term Loan Commitment of each LenderBank with such a Commitment) shall be reduced: (i) (immediately after the relevant Loans are made) be reduced on each date on which a Borrowing Date of Term Loans is effected by an amount equal to the amount of Total Commitment utilized to make the such Borrowing of Term Loans made on such Borrowing Date; and date, (ii) terminate in its entirety on each borrowing date under the Other Term Loan Facility Commitment Termination Date (immediately after giving effect to the relevant loans are made making of the Term Loans on such borrowing date under date) and (iii) prior to the Other termination of the Total Term Loan FacilityCommitment as provided in clause (ii) above, be reduced from time to time to the extent required by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateSection 4.02. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment shall be terminated at (and the times required by Section 4.02. (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Revolving Loan Commitment of each Lender. (eBank) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be permanently reduced pursuant by the amount set forth opposite each date set forth below (to Section 3.03 and 3.02 the extent any day set forth below is not a Business Day then the required date of the Other Term Loan Facility.commitment reduction shall be the immediately preceding Business Day):

Appears in 1 contract

Samples: Credit Agreement (Ubiquitel Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Initial Term Loan Commitment (and the Commitment of each Lender) shall terminate terminated in its entirety on the Commitment Termination DateFirst Restatement Effective Date after the funding of all Initial Term Loans on such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Amendment (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: (i) (immediately terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment after the funding of all relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Amendment and Restatement Agreement (VERRA MOBILITY Corp)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.03, the Total Commitment (and the Commitment of each LenderLender under each Tranche) shall terminate in its entirety on the Commitment Termination Maturity Date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.03, the Total Initial Commitment shall be reduced by (x) $80,000,000 on December 31, 2014 and the Commitments of each Lender(y) $80,000,000 on December 31, 2015, which Scheduled Commitment Reductions (i) shall be reduced: (i) (immediately after applied proportionately to reduce or terminate, as the relevant Loans are made) on case may be, the Initial Commitment of each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on Lender under such Borrowing Date; and Tranche and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateshall be reduced in accordance with Section 4.03(g). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 4.03, the Total Incremental Commitment under each Tranche of Incremental Commitments (if any) shall be reduced on a pro rata basis by an aggregate amount of (x) $20,000,000 for all such Tranches of the Incremental Facility on December 31, 2014 and (y) $20,000,000 for all such Tranches of the Incremental Facility on December 31, 2015, which Scheduled Commitment Reductions (i) shall be applied proportionately to reduce or terminate, as the case may be, the Incremental Commitment of each Lender under each such Tranche and (ii) shall be reduced in accordance with Section 4.03(g). (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, on the date of this Agreementany Collateral Disposition, the Total Commitment shall be terminated at permanently reduced by a percentage thereof, expressed as a fraction, equal to (x) the times required by Section 4.02. appraised value (d) Each reduction as determined in accordance with the most recent appraisal report delivered to the Total Commitment Administrative Agent (or obtained by the Administrative Agent) pursuant to this Section 3.03 9.01(c)) of the Collateral Rig or Collateral Rigs which is/are the subject of such Collateral Disposition divided by (y) the Aggregate Collateral Rig Value (as determined by the sum of the appraisals set forth in the most recent appraisal report related to each respective Collateral Rig and delivered to the Administrative Agent (or obtained by the Administrative Agent) pursuant to Section 4.02 shall be applied proportionately 9.01(c) before giving effect to reduce the Commitment of each Lendersuch Collateral Disposition). (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or 4.03, upon the occurrence of a violation under Section 10.09, the Total Commitment may be permanently reduced in accordance with the requirements of Sections 4.03(g) and 10.09 in an amount required so that the Parent and its Subsidiaries shall be in compliance with the requirements set forth in Section 10.09, provided that it is understood and agreed that the requirement to repay Loans as a result of a permanent reduction of the Total Commitment under this Section 4.03(e) shall not be deemed to be a waiver of any other right or remedy that any Lender may have as a result of an Event of Default under Section of this Agreement10.09. (f) Each mandatory commitment reduction or termination pursuant to Sections 4.03(d) and (e) shall be applied to proportionately reduce or terminate, as the case may be, the Commitment under each Tranche and each such reduction to, or termination of, the Total Commitment shall be reduced applied to proportionately reduce or terminate, as the case may be, the Commitment of each Lender under each such Tranche. (g) Each reduction to, or termination of, the Total Commitment pursuant to Sections 4.03(b), (c), (d) and (e) shall be applied to proportionately reduce future Scheduled Commitment Reductions as provided in the proviso of Section 3.03 and 3.02 of the Other Term Loan Facility4.02(a).

Appears in 1 contract

Samples: Credit Agreement (Atwood Oceanics Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the Term Loan Commitment and the Revolving Loan Commitment of each LenderBank) shall terminate in its entirety on March 31, 1999 (or such earlier date as the Commitment Termination DateUS Borrower shall have notified the Agent in writing that it has terminated discussions regarding the Acquisition) unless the Restatement Effective Date has occurred on or before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Term Loan Commitment (and the Commitments Term Loan Commitment of each LenderBank) shall be reduced: (i) terminate in its entirety on the Restatement Effective Date (immediately after giving effect to the relevant incurrence of Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and date) and (ii) on each borrowing date under prior to the Other termination of the Total Term Loan Facility Commitment as provided in clause (immediately after i) above, be reduced from time to time to the relevant loans are made on such borrowing date under the Other Term Loan Facility) extent required by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateSection 4.02. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Bank) shall be terminated at terminate in its entirety on the times required by Section 4.02Revolving Loan Maturity Date. (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment shall be reduced from time to time to the extent required by Section 4.02. (e) Each reduction to the Total Term Loan Commitment or Total Revolving Loan Commitment pursuant to this Section 3.03 (or pursuant to Section 3.03 and 3.02 of 4.02) shall be applied proportionately to reduce the Other Term Loan FacilityCommitment or the Revolving Loan Commitment, as the case may be, of each Bank with such a Commitment.

Appears in 1 contract

Samples: Credit Agreement (Tristar Aerospace Co)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, (i) the Total Initial Term Loan Commitment (and the Commitment of each Lender) shall terminate terminateterminated in its entirety on the Commitment Termination DateClosing Date after the funding of all Initial Term Loans on such date and (ii) the 2018 Additional Term Commitments shall terminate in their entirety on the earlier of (x) the Amendment No. 1 Incremental Effective Date after the funding of all 2018 Additional Term Loans on such date and (y) January 26, 2019. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Amendment (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: (i) (immediately terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment after the funding of all relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: First Lien Term Loan Credit Agreement (VERRA MOBILITY Corp)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination earlier of (x) September 30, 2010, if the Initial Borrowing Date has not occurred on or before such date, and (y) the Maturity Date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Term Loan Commitment (and the Commitments Term Loan Commitment of each Lender) shall be reduced: (i) (immediately after terminate in its entirety on the relevant Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateTermination Date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment shall be terminated at terminate in its entirety upon the times required by Section 4.02Maturity Date. (d) Each reduction In addition to the Total Commitment any other mandatory commitment reductions pursuant to this Section 3.03 and Section 4.02 3.03, on each Borrowing Date on which Term Loans are incurred, the Total Term Loan Commitment shall be applied proportionately to reduce permanently reduced by the Commitment aggregate principal amount of each Lenderthe Term Loans made on such Borrowing Date. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment shall be permanently reduced pursuant to as required by Section 3.03 and 3.02 of 4.02. (f) Each reduction to, or termination of, the Other Total Revolving Loan Commitment or the Total Term Loan FacilityCommitment, as the case may be, shall be applied to reduce or terminate, as the case may be, on a pro rata basis the Revolving Loan Commitment or Term Loan Commitment, as the case may be, of each Lender with a Revolving Loan Commitment and/or Term Loan Commitment.

Appears in 1 contract

Samples: Credit Agreement (General Maritime Corp / MI)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment Commitments (and the Term Loan Commitment and the Revolving Loan Commitment of each Lender) shall terminate in its their entirety on September 15, 1999 unless the Commitment Termination DateInitial Borrowing Date has occurred on or before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Term Loan Commitment (and the Commitments Term Loan Commitment of each Lender) shall be reduced: (i) terminate in its entirety on the Initial Borrowing Date (immediately after giving effect to the relevant making of the Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and date) and (ii) on each borrowing date under prior to the Other termination of the Total Term Loan Facility (immediately after Commitment, be reduced from time to time to the relevant loans are made on such borrowing date under the Other Term Loan Facility) extent required by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateSection 4.02. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment (and the Revolving Loan Commitment of each Lender) shall be terminated at terminate in its entirety on the times required by Section 4.02Revolving Loan Maturity Date. (d) Each reduction to the Total Term Loan Commitment and the Total Revolving Loan Commitment pursuant to this Section 3.03 and (or pursuant to Section 4.02 4.02) shall be applied proportionately to permanently reduce the Term Loan Commitment or the Revolving Loan Commitment, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Credit Agreement (Too Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the Term Loan Commitment and Revolving Loan Commitment of each Lender) shall terminate in its entirety on March 18, 2005 unless the Commitment Termination DateInitial Borrowing Date has occurred on or before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Term Loan Commitment (and the Commitments Term Loan Commitment of each Lender) shall be reduced: (i) (immediately after the relevant be reduced on each date on which Term Loans are madeincurred (after giving effect to the making of Term Loans on such date) on each Borrowing Date by in an amount equal to the aggregate principal amount of Total Commitment utilized to make the Term Loans made incurred on such Borrowing Date; and date, (ii) terminate in its entirety (to the extent not theretofore terminated) on each borrowing date under the Other Term Loan Facility Commitment Termination Date (immediately after the relevant loans are made giving effect to any incurrence of Term Loans on such borrowing date under the Other Term Loan Facilitydate) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility and (iii) be reduced on such borrowing datedates, and in such amounts, as provided in Section 13.24(f). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Lender) shall be terminated at terminate in its entirety on the times required by Section 4.02Revolving Loan Maturity Date. (d) Each reduction to the Total Revolving Loan Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Revolving Loan Commitment of each RL Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Credit Agreement (Intelsat LTD)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the Commitment Commitments of each Lender) shall terminate in its entirety on February 24, 2008, unless the Commitment Termination DateInitial Borrowing Date has occurred on or prior to such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.03, the Total Initial Term Loan Commitment (and the Commitments Initial Term Loan Commitment of each Lender) shall be reduced: (i) (immediately after terminate in its entirety on the relevant Loans are made) on each Initial Borrowing Date by (after giving effect to the amount incurrence of Total Commitment utilized to make the Initial Term Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.03, the Total Incremental Term Loan Commitment under a given Tranche (and the Incremental Term Loan Commitment under such Tranche of each Lender) shall be terminated at terminate in its entirety on the times required by Section 4.02Incremental Term Loan Borrowing Date for such Tranche of Incremental Term Loans (after giving effect to the incurrence of Incremental Term Loans of such Tranche on such date). (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.03, the Total Revolving Loan Commitment (and the Revolving Loan Commitment of each Lender) shall be reduced pursuant to Section 3.03 and 3.02 of terminate in its entirety upon the Other Term Revolving Loan FacilityMaturity Date.

Appears in 1 contract

Samples: Credit Agreement (Information Services Group Inc.)

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Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the A Term Loan Commitment, the B Term Loan Commitment, the Revolving Loan Commitment and the Capital Expenditure Loan Commitment of each LenderBank with such a Commitment) shall terminate in its entirety on March 31, 1998 unless the Commitment Termination DateInitial Borrowing Date has occurred on or before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total A Term Loan Commitment (and the Commitments A Term Loan Commitment of each LenderBank with such a Commitment) shall be reduced: (i) (immediately after terminate in its entirety on the relevant Loans are made) on each Initial Borrowing Date by (after giving effect to the amount making of Total Commitment utilized to make the A Term Loans made on such Borrowing Date; and date) and (ii) on each borrowing date under prior to the Other termination of the Total A Term Loan Facility Commitment as provided in clause (immediately after i) above, be reduced from time to time to the relevant loans are made on such borrowing date under the Other Term Loan Facility) extent required by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateSection 4.02. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total B Term Loan Commitment (and the B Term Loan Commitment of each Bank with such a Commitment) shall (i) terminate in its entirety on the Initial Borrowing Date (after giving effect to the making of the B Term Loans on such date) and (ii) prior to the termination of the Total B Term Loan Commitment as provided in clause (i) above, be terminated at reduced from time to time to the times extent required by Section 4.02. (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Capital Expenditure Loan Commitment (and the Capital Expenditure Loan Commitment of each Bank with such a Commitment) shall (i) terminate in its entirety on the Capital Expenditure Loan Conversion Date (after giving effect to the making of Capital Expenditure Loans on such date) and (ii) prior to the termination of the Total Capital Expenditure Loan Commitment as provided in clause (i) above, be reduced pursuant from time to time to the extent required by Section 3.03 and 3.02 of the Other Term Loan Facility4.02.

Appears in 1 contract

Samples: Credit Agreement (Video Update Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the Term Loan Commitment and the Revolving Loan Commitment of each LenderBank with such a Commitment) shall terminate in its entirety on December 31, 1997 unless the Commitment Termination DateInitial Borrowing Date has occurred on or before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.03, the Total Term Loan Commitment (and the Commitments Term Loan Commitment of each LenderBank with such a Commitment) shall be reduced: (i) (immediately after terminate in its entirety on the relevant Loans are made) on each Initial Borrowing Date by (after giving effect to the amount making of Total Commitment utilized to make the Term Loans made on such Borrowing Date; and date) and (ii) on each borrowing date under prior to the Other termination of the Total Term Loan Facility Commitment as provided in clause (immediately after i) above, be reduced from time to time to the relevant loans are made on such borrowing date under the Other Term Loan Facility) extent required by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateSection 5.02. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.03, the Total Revolving Loan Commitment (and the Revolving Loan Commitment of each Bank) shall be terminated at terminate on the times required by Section 4.02Revolving Loan Maturity Date. (d) Each reduction to the Total Term Loan Commitment and the Total Revolving Loan Commitment pursuant to this Section 3.03 and Section 4.02 4.03 shall be applied proportionately to reduce the Term Loan Commitment and the Revolving Loan Commitment, as the case may be, of each LenderBank with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Credit Agreement (Scovill Holdings Inc)

Mandatory Reduction of Commitments. (o) In addition to any other mandatory commitment reductions pursuant to this Section 3.02, the Total Initial Term Loan Commitment shall terminate in its entirety on the Closing Date (after giving effect to the incurrence of Initial Term Loans on such date). (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment Termination Date(after giving effect to the incurrence of the relevant Incremental Term Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment (and the Commitments of each Lender) shall be reduced: (i) (immediately after the relevant Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 3.02 as provided above (or pursuant to Section 4.02 4.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Performance Sports Group Ltd.)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the Commitment of each Lender) ---------------------------------- shall terminate in its entirety on December 1, 2000 unless the Commitment Termination DateInitial Borrowing Date has occurred on or before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total A Euro Term Loan Commitment (and shall terminate in its entirety on the Commitments of each Lender) shall be reduced: (i) (immediately after the relevant Loans are made) on each Initial Borrowing Date by (after giving effect to the amount making of Total Commitment utilized to make the A Euro Term Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total B Term Loan Commitment shall be terminated at terminate in its entirety on the times required by Section 4.02Initial Borrowing Date (after giving effect to the making of the B Term Loans on such date). (d) Each reduction In addition to the Total Commitment any other mandatory commitment reductions pursuant to this Section 3.03 and Section 4.02 3.03, the Total Revolving Loan Commitment shall be applied proportionately to reduce terminate in its entirety on the Commitment of each LenderRevolving Loan Maturity Date. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment shall be permanently reduced from time to time in accordance with the provisions of Section 4.02. (f) Each reduction to, or termination of, the Total A Euro Term Loan Commitment, the Total B Term Loan Commitment and the Total Revolving Loan Commitment pursuant to this Section 3.03 and 3.02 of or Section 4.02 shall be applied proportionately to reduce or terminate the Other A Euro Term Loan FacilityCommitment, the B Term Loan Commitment or the Revolving Loan Commitment, as the case may be, of each Lender with such a Commitment.

Appears in 1 contract

Samples: Credit Agreement (RPP Capital Corp)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment ---------------------------------- (and the Term Loan Commitment and Revolving Loan Commitment of each LenderBank) shall terminate in its entirety on July 15, 1999 unless the Commitment Termination DateInitial Borrowing Date has occurred on or before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Term Loan Commitment (and the Commitments Term Loan Commitment of each LenderBank with such a Commitment) shall be reduced: (i) (immediately after terminate in its entirety on the relevant Loans are made) on each Initial Borrowing Date by (after giving effect to the amount making of Total Commitment utilized to make the Term Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Bank) shall be terminated at terminate in its entirety on the times required by Section 4.02Revolving Loan Maturity Date. (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment shall be permanently reduced from time to time to the extent required by Section 4.02. (e) Each reduction to the Total Term Loan Commitment or Total Revolving Loan Commitment pursuant to this Section 3.03 (or pursuant to Section 3.03 and 3.02 of 4.02) shall be applied proportionately to reduce the Other Term Loan FacilityCommitment or the Revolving Loan Commitment, as the case may be, of each Bank with such a Commitment.

Appears in 1 contract

Samples: Credit Agreement (Pacer Express Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Tranche D ---------------------------------- Term Loan Commitment (and the Tranche D Term Loan Commitment of each LenderBank with such a Commitment) shall terminate in its entirety on May 30, 1999 and the Commitment Termination DateSecond Amended and Restated Credit Agreement shall continue in effect unless the Third Restatement Effective Date has occurred on or before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Tranche D Term Loan Commitment (and the Commitments Tranche D Term Loan Commitment of each LenderBank with such a Commitment) shall be reduced: terminate in its entirety on the Third Restatement Effective Date (i) (immediately after giving effect to the relevant making of Tranche D Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment shall be terminated at permanently reduced on each date set forth below (each, a "Scheduled Commitment Reduction Date"), by the times required by Section 4.02. amount set forth opposite such Scheduled Commitment Reduction Date (d) Each reduction to each such reduction, as the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall same may be reduced pursuant to Section 3.03 as provided in Sections 3.02 and 3.02 of the Other Term Loan Facility.3.03(f), a "Scheduled Commitment Reduction"):

Appears in 1 contract

Samples: Credit Agreement (Alliance Imaging Inc /De/)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, (i) prior to the Amendment No. 1 Effective Date, the Total Initial Term Loan Commitment terminated in its entirety on the Closing Date and (and ii) the 2017 Additional Term Commitment of each Lender) shall terminate in its entirety on the Commitment Termination DateClosingAmendment No. 1 Effective Date (after giving effect to the incurrence of Initial2017 Additional Term Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment (i) (immediately after giving effect to the incurrence of the relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: First Lien Term Loan Credit Agreement (PAE Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Term Loan Commitment (and the Term Loan Commitment of each LenderBank) shall terminate in its entirety on the Commitment Termination DateMerger Closing Date (after giving effect to the incurrence of Term Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment (and the Commitments Revolving Loan Commitment of each LenderBank) shall be reduced: terminate in its entirety on the earlier of (i) (immediately after the relevant Loans are made) date on each Borrowing Date by the amount which a Change of Total Commitment utilized to make the Loans made on such Borrowing Date; and Control Event occurs and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateFinal Maturity Date for Revolving Loans. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 3.03, on each date upon which a mandatory repayment of Term Loans pursuant to Section 4.02(A)(c), (d), (e), (f), (g) and (h) is required (and exceeds in amount the aggregate principal amount of Term Loans then outstanding) or any other Section of this Agreementwould be required if Term Loans were then outstanding, the Total Revolving Loan Commitment shall be terminated at permanently reduced by the times amount, if any, by which the amount required by Section 4.02to be applied pursuant to said Sections (determined as if an unlimited amount of Term Loans were actually outstanding) exceeds the aggregate principal amount of Term Loans then outstanding. (d) Each reduction to the Total Revolving Loan Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment Revolving Loan Commitment, as the case may be, of each LenderBank with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Credit Agreement (Pine Holdings Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on March 15, 2007, unless the Commitment Termination DateInitial Borrowing Date has occurred on or prior to such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Initial Term Loan Commitment (and the Commitments Initial Term Loan Commitment of each Lender) shall be reduced: (i) (immediately after terminate in its entirety on the relevant Loans are made) on each Initial Borrowing Date by (after giving effect to the amount incurrence of Total Commitment utilized to make the Initial Term Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Incremental Term Loan Commitment under a given Tranche shall be terminated at terminate in its entirety on the times required by Section 4.02Incremental Term Loan Borrowing Date for such Tranche of Incremental Term Loans (after giving effect to the incurrence of Incremental Term Loans of such Tranche on such date). (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Lender) shall be reduced pursuant to Section 3.03 terminate in its entirety upon the earlier of (i) the Revolving Loan Maturity Date and 3.02 (ii) unless the Required Lenders otherwise agree in writing, on the date on which a Change of the Other Term Loan FacilityControl occurs.

Appears in 1 contract

Samples: Credit Agreement (Town Sports International Holdings Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.3, the Total Commitment (New Replacement Term B-2 Loan CommitmentCommitments and the Commitment New Replacement Term B-1 Loan Commitments of each Lender) Lender shall terminate in its entirety on the Commitment Termination DateAmendment No. 12 Effective Date (after giving effect to the incurrence of the Replacement Term B-2 Loans and Replacement Term B-1 Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.3, the Total Revolving Loan Commitment (and the Commitments of each Lender) shall be reduced: terminate in its entirety on, as applicable, (i) (immediately after the relevant Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Revolving Loan Maturity Date; and , (ii) on each borrowing date under the Incremental Revolving Loan Maturity Date or (iii) the Maturity Date for any Other Term Revolving Loan Facility (immediately after set forth in the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateRefinancing Amendment applicable thereto. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 Each reduction to, or any other Section of this Agreementtermination of, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Revolving Loan Commitment pursuant to this Section 3.03 and Section 4.02 4.3 shall be applied to proportionately to reduce or terminate, as the case may be, the Revolving Loan Commitment of each LenderLender with a Revolving Loan Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Ancestry.com LLC)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Commitment (and the Commitment Commitments of each LenderBank) shall terminate on May 15, 2000 and the Existing Credit Agreement shall continue in its entirety effect without being amended and restated by this Agreement, unless the Restatement Effective Date has occurred on the Commitment Termination Dateor before such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Dollar Facility Revolving Loan Commitment (and the Commitments Dollar Facility Revolving Loan Commitment of each LenderDollar Facility Bank) shall be reduced: (i) (immediately after terminate on the relevant Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Final Maturity Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Dual Currency Facility Revolving Loan Commitment (and the Dual Currency Facility Revolving Loan Commitment of each Dual Currency Facility Bank) shall be terminated at terminate on the times required by Section 4.02Dual Currency Facility Revolving Loan Conversion Date. (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Dollar Facility Revolving Loan Commitment and the Total Dual Currency Facility Revolving Loan Commitment shall be permanently reduced from time to time to the extent required by Section 4.02. (e) Each reduction to the Total Dollar Facility Revolving Loan Commitment and the Total Dual Currency Facility Revolving Loan Commitment pursuant to this Section 3.03 and 3.02 (or Section 4.02) shall be applied proportionately to reduce the Dollar Facility Revolving Loan Commitment or the Dual Currency Facility Revolving Loan Commitment, as the case may be, of the Other Term Loan Facilityeach Bank with such a Commitment.

Appears in 1 contract

Samples: Credit Agreement (American Italian Pasta Co)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Term Loan Commitment (and the Term Loan Commitment of each LenderLender with such a Commitment, if any) shall terminate in its entirety on the Commitment Termination Dateearliest to occur of (i) the date, if any, on which the Contingent Note is fully cancelled (without the requirement of any payment thereunder) in accordance with its terms and (ii) the Delayed Borrowing Date (after giving effect to the making of Term Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment (and the Commitments Dollar Facility Revolving Loan Commitment, Euro Facility Revolving Loan Commitment and Canadian Facility Revolving Loan Commitment of each LenderLender with such a Commitment) shall be reduced: (i) (immediately after terminate in its entirety on the relevant Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Maturity Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Term Loan Commitment, the Total Dollar Facility Revolving Loan Commitment, the Total Euro Facility Revolving Loan Commitment and the Total Canadian Facility Revolving Loan Commitment pursuant to this Section 3.03 and as provided above (or pursuant to Section 4.02 4.02) shall be applied proportionately to reduce the Term Loan Commitment, the Dollar Facility Revolving Loan Commitment, the Euro Facility Revolving Loan Commitment or the Canadian Facility Revolving Loan Commitment, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Credit Agreement (Owens Corning)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total A Term Loan Commitment (and the A Term Loan Commitment of each Lender) shall (i) terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of A Term Loans on such date) and (ii) prior to the termination of the Total A Term Loan Commitment Termination Dateas provided in clause (i) above, be reduced from time to time to the extent required by Section 4.02(A). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total B Term Loan Commitment (and the Commitments B Term Loan Commitment of each Lender) shall be reduced: (i) (immediately after terminate in its entirety on the relevant Loans are made) on each Initial Borrowing Date by (after giving effect to the amount making of Total Commitment utilized to make the B Term Loans made on such Borrowing Date; and date) and (ii) on each borrowing date under prior to the Other termination of the Total B Term Loan Facility Commitment as provided in clause (immediately after i) above, be reduced from time to time to the relevant loans are made on such borrowing date under the Other Term Loan Facility) extent required by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateSection 4.02(A). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total C Term Loan Commitment (and the C Term Loan Commitment of each Lender) shall (i) terminate in its entirety on the Initial Borrowing Date (after giving effect to the making of C Term Loans on such date) and (ii) prior to the termination of the Total C Term Loan Commitment as provided in clause (i) above, be terminated at reduced from time to time to the times extent required by Section 4.024.02(A). (d) Each reduction In addition to the Total Commitment any other mandatory commitment reductions pursuant to this Section 3.03 3.03, the Total RTL Commitment (and Section 4.02 shall be applied proportionately to reduce the RTL Commitment of each Lender) shall (i) terminate in its entirety on the RTL Conversion Date (after giving effect to the making of RTL Loans on such date) and (ii) prior to the termination of the Total RTL Commitment as provided in clause (i) above, be reduced from time to time to the extent required by Section 4.02(A). (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or 3.03, the Total Revolving Loan Commitment (and the Revolving Loan Commitment of each Lender) shall terminate in its entirety on the Revolving Loan Maturity Date. (f) In addition to any other mandatory commitment reductions pursuant to this Section 3.03, the Incremental Term Loan Commitment of each Lender provided pursuant to a particular Incremental Commitment Agreement shall terminate in its entirety on the respective Incremental Term Loan Borrowing Date specified in such Incremental Commitment Agreement (after giving effect to the incurrence of the Incremental Term Loans on each such date). (g) In addition to any other mandatory commitment reductions pursuant to this AgreementSection 3.03, the Total Commitment (and the Commitment of each Lender under each Tranche) shall terminate in its entirety on April 30, 2001 unless the Transaction has been consummated and the Initial Borrowing Date has occurred on or prior to such date. (h) In addition to any other mandatory commitment reductions pursuant to this Section 3.03, on each date after the Initial Borrowing Date upon which a mandatory prepayment of Term Loans pursuant to Sections 4.02(A)(f), (g), (h), (i) or (j) 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 Loan Commitment and/or the Total RTL 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 in the following manner: (1) first, if prior to the RTL Conversion Date, to the Total RTL Commitment; and (2) second, after the Total RTL Commitment has been terminated or reduced to zero, to the Total Revolving Loan Commitment. (i) The Total Revolving Loan Commitment and, if applicable, the Total RTL Commitment shall be reduced, and the Revolving Loan Commitment or RTL Commitment, as the case may be, of the respective Former Lender shall be terminated, in the amount and at the times provided in Section 13.04(d). (j) In addition to any other mandatory commitment reductions pursuant to this Section 3.03, on the date of the consummation of the Disposition, the Total Revolving Loan Commitment shall be reduced by the lesser of (x) $25,000,000 and (y) the amount by which the Net Asset Sale Proceeds of the Disposition exceed $25,000,000. (k) Each reduction to a Commitment under a Tranche pursuant to this Section 3.03 (or pursuant to Section 4.02(A)) shall be applied proportionately to reduce the Commitment under such Tranche of each Lender with such a Commitment, provided that the reduction to the Total Revolving Loan Commitment from clause (j) of this Section 3.03 and 3.02 shall be applied to the Revolving Commitments of the Other Term Designated Lenders on a pro rata basis. The repayment of the Revolving Loans from the proceeds of the Disposition shall be applied in a manner such that all of the Lenders with a Revolving Commitment participate in each Borrowing of Revolving Loans which remains outstanding following such payment pro rata on the basis of their respective Revolving Loan FacilityCommitments (after giving effect to the reduction of the Total Revolving Loan Commitment pursuant to Section 3.03(j)).

Appears in 1 contract

Samples: Credit Agreement (Ameristar Casinos Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the The Total Revolving Loan Commitment (and the Revolving Loan Commitment of each Lender) shall terminate in its entirety on January 31, 2012, unless the Commitment Termination DateEffective Date has occurred on or prior to such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement3.03, the Total Revolving Loan Commitment (and the Commitments Revolving Loan Commitment of each Lender) shall be reduced: terminate in its entirety upon the earlier of (i) (immediately after the relevant Loans are made) on each Borrowing Maturity Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and and (ii) unless the Required Lenders otherwise agree in writing, the date on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount which a Change of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing dateControl occurs. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 3.03, on each date on or after the Effective Date upon which Magellan or any of its Subsidiaries receives any cash proceeds from any issuance or incurrence by Magellan or any of its Subsidiaries of Indebtedness for borrowed money (other than Indebtedness for borrowed money permitted to be incurred pursuant to Section of this Agreement9.04), the Total Revolving Loan Commitment shall be terminated at permanently reduced in an amount equal to 100% of the times required by Section 4.02Net Debt Proceeds of the respective issuance or incurrence of Indebtedness. (d) Each reduction to the Total Revolving Loan Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied to proportionately to reduce the Revolving Loan Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Facility (Magellan Health Services Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, (i) prior to the Amendment No. 1 Effective Date, the Total Initial Term Loan Commitment terminated in its entirety on the Closing Date and (and ii) the 2017 Additional Term Commitment of each Lender) shall terminate in its entirety on the Commitment Termination DateAmendment No. 1 Effective Date (after giving effect to the incurrence of the 2017 Additional Term Loans on such date). (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the Commitments Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall be reduced: terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment (i) (immediately after giving effect to the incurrence of the relevant Incremental Term Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 3.03 and 4.02 as provided above (or pursuant to Section 4.02 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each LenderLender with such a Commitment. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

Appears in 1 contract

Samples: Second Lien Term Loan Credit Agreement (PAE Inc)

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