Mandatory Reduction of Commitments. (a) The Total Commitment shall terminate in its entirety on May 31, 2002 unless the Restatement Effective Date has occurred on or before such date and in the event of such termination this Agreement shall cease to be of any force or effect and the Existing Credit Agreement (and all commitments to extend credit thereunder in accordance with the terms thereof) shall continue to be effective, as the same may have been, or thereafter be, amended, modified or supplemented from time to time. (b) The Total Commitment shall terminate in its entirety on the Final Maturity Date.
Appears in 2 contracts
Samples: Credit Agreement (Mbia Inc), Credit Agreement (Mbia Inc)
Mandatory Reduction of Commitments. (a) The Total Commitment shall terminate in its entirety on May 31, 2002 2003 unless the Second Restatement Effective Date has occurred on or before such date and in the event of such termination this Agreement shall cease to be of any force or effect and the Existing Credit Agreement (and all commitments to extend credit thereunder in accordance with the terms thereof) shall continue to be effective, as the same may have been, or thereafter be, amended, modified or supplemented from time to time.
(b) The Total Commitment shall terminate in its entirety on the Final Maturity Date.
Appears in 2 contracts
Samples: Credit Agreement (Mbia Inc), Credit Agreement (Mbia Inc)
Mandatory Reduction of Commitments. (a) The Total Commitment (and the Commitments of each Lender) shall terminate in its entirety on May December 31, 2002 2010, unless the Restatement Effective Date has occurred on or before prior to such date and in the event of such termination this Agreement shall cease to be of any force or effect and the Existing Credit Agreement (and all commitments to extend credit thereunder in accordance with the terms thereof) shall continue to be effective, as the same may have been, or thereafter be, amended, modified or supplemented from time to timedate.
(b) The Total Commitment (and the Commitments of each Lender) shall terminate in its entirety on upon the Final Revolving Loan Maturity Date.
Appears in 2 contracts
Samples: Credit Agreement (Resolute Forest Products Inc.), Abl Credit Agreement (AbitibiBowater Inc.)
Mandatory Reduction of Commitments. (a) The Total Commitment shall terminate in its entirety on May 31September 30, 2002 1998 unless the Restatement Effective Date has occurred on or before such date and in the event of such termination this Agreement shall cease to be of any force or effect and the Existing Credit Agreement (and all commitments to extend credit thereunder in accordance with the terms thereof) shall continue to be effective, as the same may have been, or thereafter be, amended, modified or supplemented from time to timedate.
(b) The Total Commitment shall terminate in its entirety on the Final Maturity Date.
Appears in 2 contracts
Samples: Credit Agreement (Mbia Inc), Credit Agreement (Mbia Inc)
Mandatory Reduction of Commitments. (a) The Total Commitment shall terminate in its entirety on May 31July 16, 2002 2010, unless the Restatement Effective Date has occurred on or before such date and in the event of such termination this Agreement shall cease to be of any force or effect and the Existing Credit Agreement (and all commitments to extend credit thereunder in accordance with the terms thereof) shall continue to be effective, as the same may have been, or thereafter be, amended, modified or supplemented from time to timedate.
(b) The Total Commitment shall terminate in its entirety on the Final Maturity Date.
Appears in 1 contract
Samples: Credit Agreement (Partnerre LTD)
Mandatory Reduction of Commitments. (a) The Total Commitment shall terminate in its entirety on May 31June 30, 2002 2002, unless the Restatement Effective Date has occurred on or before such date and in the event of such termination this Agreement shall cease to be of any force or effect and the Existing Credit Agreement (and all commitments to extend credit thereunder in accordance with the terms thereof) shall continue to be effective, as the same may have been, or thereafter be, amended, modified or supplemented from time to timedate.
(b) The Total Commitment shall terminate in its entirety on the Final Maturity Commitment Expiration Date.
Appears in 1 contract
Samples: Credit Agreement (Partnerre LTD)
Mandatory Reduction of Commitments. (a) The Total Commitment shall terminate in its entirety on May 31October 15, 2002 2005, unless the Restatement Effective Date has occurred on or before such date and in the event of such termination this Agreement shall cease to be of any force or effect and the Existing Credit Agreement (and all commitments to extend credit thereunder in accordance with the terms thereof) shall continue to be effective, as the same may have been, or thereafter be, amended, modified or supplemented from time to timedate.
(b) The Total Commitment shall terminate in its entirety on the Final Maturity Date.
Appears in 1 contract
Samples: Credit Agreement (Partnerre LTD)
Mandatory Reduction of Commitments. (a) The Total Commitment shall terminate in its entirety on May August 31, 2002 2001 unless the Restatement Effective Closing Date has occurred on or before such date and in the event of such termination this Agreement shall cease to be of any force or effect and the Existing Credit Agreement (and all commitments to extend credit thereunder in accordance with the terms thereof) shall continue to be effective, as the same may have been, or thereafter be, amended, modified or supplemented from time to timedate.
(b) The Total In addition to any other mandatory commitment reductions pursuant to this Section 2.01, the Commitment shall terminate in its entirety on the Final Maturity Datedate of consummation of the Disposition.
(c) In addition to any other mandatory commitment reductions pursuant to this Section 2.01, the Commitment shall terminate in its entirety on the Closing Date (after giving effect to the incurrence of the Loan on such date).
Appears in 1 contract
Samples: Credit Agreement (Emcore Corp)