Common use of Mandatory Reduction of Commitments Clause in Contracts

Mandatory Reduction of Commitments. (a) [Reserved]. (b) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total A Term Loan Commitment (and the A Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of A Term Loans on such date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total B Term Loan Commitment (and the B Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of B Term Loans on such date). (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total 2016 Revolving Loan Commitment shall terminate in its entirety upon the 2016 Revolving Loan Maturity Date and the Total 2017 Revolving Loan Commitment shall terminate in its entirety upon the 2017 Revolving Loan Maturity Date. (e) Each reduction to, or termination of, the Total 2016 Revolving Loan Commitment or the Total 2017 Revolving Loan Commitment pursuant to this Section 4.03 shall be applied to proportionately reduce or terminate, as the case may be, the 2016 Revolving Loan Commitment of each Lender with a 2016 Revolving Loan Commitment or the 2017 Revolving Loan Commitment of each Lender with a 2017 Revolving Loan Commitment, as the case may be.

Appears in 2 contracts

Samples: Credit Agreement (Walter Energy, Inc.), Credit Agreement (Walter Energy, Inc.)

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Mandatory Reduction of Commitments. (a) [Reserved]The Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on May 31, 2011, 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 4.03, the Total A Initial Term Loan Commitment (and the A Initial Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of A Initial Term Loans on such date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total B Incremental Term Loan Commitment (and the B Term Loan Commitment of each Lender) under a given Tranche shall terminate in its entirety on the Initial Incremental Term Loan Borrowing Date for such Tranche of Incremental Term Loans (after giving effect to the incurrence of B Incremental Term Loans of such Tranche on such date). (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, (i) the Total 2016 Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Lender) (other than Extended Revolving Loan Commitments) shall terminate in its entirety upon the 2016 Initial Revolving Loan Maturity Date and (ii) the Total 2017 Revolving Loan Commitment remaining in effect after the Initial Revolving Loan Maturity Date shall terminate in its entirety upon the 2017 Revolving Loan Maturity Date. (e) Each reduction to, or termination of, the Total 2016 Date applicable to any Extended Revolving Loan Commitment or the Total 2017 Revolving Loan Commitment pursuant to this Section 4.03 shall be applied to proportionately reduce or terminate, as the case may be, the 2016 Revolving Loan Commitment of each Lender with a 2016 Revolving Loan Commitment or the 2017 Revolving Loan Commitment of each Lender with a 2017 Revolving Loan Commitment, as the case may beCommitments.

Appears in 1 contract

Samples: Credit Agreement (Town Sports International Holdings Inc)

Mandatory Reduction of Commitments. (a) [Reserved]The Total Commitment (and the Commitment of each Lender) shall terminate in its entirety at 5:00 P.M. on May 9, 2012, 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 4.03, the Total A Initial Term Loan Commitment (and the A Initial Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of A Initial Term Loans on such date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total B Incremental Term Loan Commitment (and the B Term Loan Commitment of each Lender) under a given Tranche shall terminate in its entirety on the Initial Incremental Term Loan Borrowing Date for such Tranche of Incremental Term Loans (after giving effect to the incurrence of B Incremental Term Loans of such Tranche on such date). (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, (i) the Total 2016 Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Lender) (other than Extended Revolving Loan Commitments) shall terminate in its entirety upon the 2016 Initial Revolving Loan Maturity Date and (ii) the Total 2017 Revolving Loan Commitment remaining in effect after the Initial Revolving Loan Maturity Date shall terminate in its entirety upon the 2017 Revolving Loan Maturity DateDate applicable to any Extended Revolving Loan Commitments. (e) Each reduction to, or termination ofIn addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total 2016 Revolving Loan Commitment or shall be permanently reduced from time to time to the extent required by Section 5.02(j). Each reduction of the Total 2017 Revolving Loan Commitment pursuant to this Section 4.03 4.03(e) shall be applied to proportionately reduce or terminate, as the case may be, the 2016 Revolving Loan Commitment of each Lender with a 2016 Revolving Loan Commitment or the 2017 Revolving Loan Commitment of each Lender with a 2017 Revolving Loan Commitment, as the case may beLender.

Appears in 1 contract

Samples: Credit Agreement (Affinity Gaming, LLC)

Mandatory Reduction of Commitments. (a) [Reserved]The Total Commitment (and the Commitment of each Lender) shall terminate in its entirety at 5:00 p.m. (New York City time) on March 31, 2011, 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 4.03, the Total A Term Loan Commitment (and the A Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of A Term Loans on such date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total B Term Revolving Loan Commitment (and the B Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of B Term Loans on such date)Revolving Loan Maturity Date. (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total 2016 Revolving Loan Commitment shall terminate in its entirety upon be permanently reduced from time to time to the 2016 extent required by Section 5.02(h). (e) Unless the Majority Lenders with Revolving Loan Maturity Date and Commitments (and/or Revolving Obligations, as applicable) otherwise agree, if any Specified Default exists at the time any mandatory prepayment of Term Loans is otherwise required to be made pursuant to Section 5.02, then the Total 2017 Revolving Loan Commitment shall terminate be permanently reduced by the amount of the mandatory prepayment of Term Loans otherwise required to be applied to the prepayment of Term Loans pursuant to Section 5.02 in its entirety upon the 2017 Revolving Loan Maturity Dateabsence of Section 5.02(l) and this Section 4.03(e). (ef) Each reduction to, or termination of, the Total 2016 Revolving Loan Commitment or the Total 2017 Revolving Loan Commitment pursuant to this Section 4.03 shall be applied to proportionately reduce or terminate, as the case may be, the 2016 Revolving Loan Commitment of each Lender with a 2016 Revolving Loan Commitment or the 2017 Revolving Loan Commitment of each Lender with a 2017 Revolving Loan Commitment, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (Radio One, Inc.)

Mandatory Reduction of Commitments. (a) [Reserved]. (b) In addition to any other mandatory commitment reductions pursuant to this Section 4.034.02, the Total A Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the A Incremental Term Loan Commitment of each LenderLender with such a Commitment) shall terminate in its entirety on the Initial Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment (after giving effect to the incurrence of A the relevant Incremental Term Loans on such date). (cb) In addition Each reduction to any other mandatory commitment reductions the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 4.03, the Total B Term Loan Commitment 4.02 as provided above (and the B Term Loan Commitment of each Lenderor pursuant to Section 5.02) shall terminate in its entirety on be applied proportionately to reduce the Initial Borrowing Date (after giving effect to the incurrence of B Term Loans on such date). (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total 2016 Revolving Loan Commitment shall terminate in its entirety upon the 2016 Revolving Loan Maturity Date and the Total 2017 Revolving Loan Commitment shall terminate in its entirety upon the 2017 Revolving Loan Maturity Date. (e) Each reduction to, or termination of, the Total 2016 Revolving Loan Commitment or the Total 2017 Revolving Incremental Term Loan Commitment pursuant to this Section 4.03 shall be applied to proportionately reduce or terminateunder such Tranche, as the case may be, the 2016 Revolving Loan Commitment of each Lender with such a 2016 Revolving Commitment. (c) Unless previously terminated, the Delayed Draw Term Loan Commitment or the 2017 Revolving Loan Commitment Commitments of each Lender with a 2017 Revolving shall terminate on the earlier of the making of the Delayed Draw Term Loans that reduces the Delayed Draw Term Loan Commitment, as Commitments of such Lender to zero or the case may beDelayed Draw Term Loan Commitment Expiration Date.

Appears in 1 contract

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

Mandatory Reduction of Commitments. (a) [Reserved]The Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on November 15, 2013, 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 4.03, the Total A Initial Term Loan Commitment (and the A Initial Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of A Initial Term Loans on such date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total B Incremental Term Loan Commitment (and the B Term Loan Commitment of each Lender) under a given Tranche shall terminate in its entirety on the Initial Incremental Term Loan Borrowing Date for such Tranche of Incremental Term Loans (after giving effect to the incurrence of B Incremental Term Loans of such Tranche on such date). (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, (i) the Total 2016 Revolving Loan Commitment (and the Revolving Loan Commitment of each RL Lender) (other than Extended Revolving Loan Commitments) shall terminate in its entirety upon the 2016 Initial Revolving Loan Maturity Date and (ii) the Total 2017 Revolving Loan Commitment remaining in effect after the Initial Revolving Loan Maturity Date shall terminate in its entirety upon the 2017 Revolving Loan Maturity Date. (e) Each reduction to, or termination of, the Total 2016 Date applicable to any Extended Revolving Loan Commitment or the Total 2017 Revolving Loan Commitment pursuant to this Section 4.03 shall be applied to proportionately reduce or terminate, as the case may be, the 2016 Revolving Loan Commitment of each Lender with a 2016 Revolving Loan Commitment or the 2017 Revolving Loan Commitment of each Lender with a 2017 Revolving Loan Commitment, as the case may beCommitments.

Appears in 1 contract

Samples: Credit Agreement (Town Sports International Holdings Inc)

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Mandatory Reduction of Commitments. (a) [Reserved]In addition to any ---------------------------------- other mandatory commitment reductions pursuant to this Section 4.03, the (i) Total Initial Tranche B Commitment shall terminate in its entirety on the Restatement Effective Date (after giving effect to the making of all the Initial Tranche B Loans on such date), (ii) Total Additional Tranche B Commitment shall on each Additional Tranche B Borrowing Date be permanently reduced by the aggregate principal amount of the Additional Tranche B Loans made on such Additional Tranche B Borrowing Date, and (iii) Total Additional Tranche B Commitment, and the Tranche B Commitment of each Tranche B Bank, shall be reduced from time to time to the extent required by Section 5.02. (b) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total A Term Revolving Loan Commitment (and the A Term Revolving Loan Commitment of each LenderBank) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of A Term Loans on such date). (c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total B Term Loan Commitment (and the B Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of B Term Loans on such date). (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total 2016 Revolving Loan Commitment shall terminate in its entirety upon the 2016 Revolving Loan Maturity Date and the Total 2017 Revolving Loan Commitment shall terminate in its entirety upon the 2017 Revolving Loan Maturity Date. (ec) Each reduction to, or termination of, to the Total 2016 Revolving Loan Tranche B Commitment or and the Total 2017 Revolving Loan Commitment pursuant to this Section 4.03 shall be applied proportionately to proportionately reduce or terminate, as the case may be, the 2016 Revolving Loan Tranche B Commitment of each Lender with a 2016 Revolving Loan Commitment or the 2017 Revolving Loan Commitment of each Lender with a 2017 and Revolving Loan Commitment, as the case may be, of each Bank with such a Commitment.

Appears in 1 contract

Samples: Credit Agreement (Scovill Holdings Inc)

Mandatory Reduction of Commitments. (a) [Reserved]The Total Commitments (and each of the Commitments of each Lender) shall terminate in their entirety at 5:00 p.m. (New York time) on January 29, 2010, unless the Initial Borrowing Date shall have occurred on or prior to such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the The Total A Initial Term Loan Commitment (and the A Initial Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence making of A Initial Term Loans on such datedate by each Lender required to make such Initial Term Loans). (c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the The Total B Term Revolving Loan Commitment (and the B Term Revolving Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of B Term Loans on such date). (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total 2016 Revolving Loan Commitment shall terminate in its entirety upon the 2016 Revolving Loan Maturity Date and the Total 2017 Revolving Loan Commitment shall terminate in its entirety upon the 2017 Revolving Loan Maturity Date. (ed) Each reduction to, or termination of, the Total 2016 Revolving Loan Commitment or the Total 2017 Revolving Loan Commitment pursuant to this Section 4.03 shall be applied to proportionately reduce or terminate, as the case may be, the 2016 Revolving The Incremental Term Loan Commitment of each Lender with provided pursuant to a 2016 Revolving particular Incremental Commitment Agreement shall be permanently reduced on each Incremental Term Loan Borrowing Date on which Incremental Term Loans are incurred pursuant to such Incremental Commitment or Agreement in an amount equal to the 2017 Revolving aggregate principal amount of Incremental Term Loans made by such Lender pursuant to such Incremental Commitment Agreement on such date. Additionally, the Incremental Term Loan Commitment of each Lender with provided pursuant to a 2017 Revolving Loan Commitment, as particular Incremental Commitment Agreement shall terminate at 5:00 P.M. (New York City time) on the case may bedate specified in such Incremental Commitment Agreement.

Appears in 1 contract

Samples: Credit Agreement (Vanguard Health Systems Inc)

Mandatory Reduction of Commitments. (a) [Reserved]The Total Commitments (and the Commitments of each Lender) shall terminate in their entirety on March 31, 2016, unless the Closing Date has occurred prior to such date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 4.033.03, the Total A Initial Term Loan Commitment (and the A Initial Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of A Term Loans on such date)Commitment Termination Date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 4.033.03, the Total B Term Upsize Loan Commitment (and the B Term Upsize Loan Commitment of each Lender) provided under Section 2.01(b) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of B Term Loans on such date)Commitment Termination Date. (d) In addition to any other mandatory commitment reductions pursuant to this Section 4.033.03, on each Borrowing Date on which Loans are incurred, the Total 2016 Revolving Loan Commitment shall terminate in its entirety upon the 2016 Revolving Loan Maturity Date and the Total 2017 Revolving Initial Term Loan Commitment or Total Upsize Loan Commitment, as the case may be, shall terminate in its entirety upon be permanently reduced by the 2017 Revolving Loan Maturity aggregate principal amount of the Loans made on such Borrowing Date. (e) Each reduction to, or termination of, the Total 2016 Revolving Initial Term Loan Commitment or the Total 2017 Revolving Upsize Loan Commitment Commitment, as applicable, pursuant to this Section 4.03 3.03 shall be applied to proportionately reduce or terminate, as the case may be, the 2016 Revolving Initial Term Loan Commitment or Upsize Loan Commitment, as applicable, of each Lender with such a 2016 Revolving Loan Commitment or the 2017 Revolving Loan Commitment of each Lender with a 2017 Revolving Loan Commitment, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (Athena Spinco Inc.)

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