Common use of Mandatory Reductions Clause in Contracts

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 19 contracts

Samples: Credit Agreement (Laboratory Corp of America Holdings), Credit Agreement (Laboratory Corp of America Holdings), Credit Agreement (Laboratory Corp of America Holdings)

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Mandatory Reductions. If after giving effect to any reduction or termination of Aggregate Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed exceeds the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 14 contracts

Samples: Credit Agreement (Teledyne Technologies Inc), Credit Agreement (Phillips Edison & Company, Inc.), Credit Agreement (Phillips Edison & Company, Inc.)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed exceeds the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 11 contracts

Samples: Credit Agreement (Boingo Wireless Inc), Credit Agreement (Phillips Edison Grocery Center REIT III, Inc.), Credit Agreement (Fidelity National Financial, Inc.)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or Sublimit, the Swing Line Sublimit exceed or the Alternative Currency Sublimit exceeds the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit, the Swing Line Sublimit or the Swing Line Alternative Currency Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 6 contracts

Samples: Credit Agreement (Aegion Corp), Credit Agreement (Aegion Corp), Credit Agreement (Shiloh Industries Inc)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving the Aggregate Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed exceeds the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 5 contracts

Samples: Credit Agreement (Biogen Inc.), Credit Agreement (Biogen Inc.), Credit Agreement (Biogen Inc.)

Mandatory Reductions. If If, after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess. The unfunded Delayed Draw Term Loan Commitments shall automatically terminate at the expiration of the Delayed Draw Term Loan Availability Period.

Appears in 2 contracts

Samples: Credit Agreement (Spirit AeroSystems Holdings, Inc.), Credit Agreement (Spirit AeroSystems Holdings, Inc.)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit, the Swing Line Sublimit or the Swing Line Alternative Currency Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or Sublimit, the Swing Line Sublimit, or the Alternative Currency Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 2 contracts

Samples: Credit Agreement (ExamWorks Group, Inc.), Credit Agreement (ExamWorks Group, Inc.)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit, the Alternative Currency Sublimit or the Swing Line Sublimit exceed exceeds the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit, the Alternative Currency Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 2 contracts

Samples: Credit Agreement (Enpro Industries, Inc), Credit Agreement (Zep Inc.)

Mandatory Reductions. If after giving effect to any reduction or termination of Domestic Revolving A Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed exceeds the Aggregate Domestic Revolving A Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 2 contracts

Samples: Loan Modification Agreement (Pra Group Inc), Credit Agreement (Portfolio Recovery Associates Inc)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess. The Delayed Draw Term Loan Commitments will be automatically reduced by the amount of any Borrowing of the Delayed Draw Term Loan pursuant to Section 2.01(b).

Appears in 2 contracts

Samples: Credit Agreement (Wright Medical Group Inc), Credit Agreement (Wright Medical Group Inc)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit, the Swing Line Sublimit or the Swing Line Alternative Currency Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit, the Swing Line Sublimit or the Swing Line Alternative Currency Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 2 contracts

Samples: Credit Agreement (Wright Medical Group Inc), Credit Agreement (Wright Medical Group Inc)

Mandatory Reductions. If after giving effect to any reduction or termination of Domestic Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed exceeds the Aggregate Domestic Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 2 contracts

Samples: Credit Agreement (Pra Group Inc), Credit Agreement (Pra Group Inc)

Mandatory Reductions. If after giving effect to any reduction or -------------------- termination of Revolving Commitments under this Section 2.06, the Letter of ------------ Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 1 contract

Samples: Credit Agreement (Graybar Electric Co Inc)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Available Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Providence Service Corp)

Mandatory Reductions. (A) If after giving effect to any reduction or termination of Revolving A Commitments under this Section 2.06, the Letter of Credit Sublimit or the Domestic Swing Line Loan Sublimit exceed the Aggregate Revolving A Commitments at such time, the Letter of Credit Sublimit or the Domestic Swing Line Loan Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.. CHAR1\1980830v3

Appears in 1 contract

Samples: Credit Agreement (Fleetcor Technologies Inc)

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Mandatory Reductions. If after giving effect to any reduction or termination of the Aggregate Revolving Commitments under this Section 2.066.1.2, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 1 contract

Samples: Credit Agreement (Standard Parking Corp)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit, Alternative Currency Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit, the Alternative Currency Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 1 contract

Samples: Credit Agreement (Fleetcor Technologies Inc)

Mandatory Reductions. (i) If after giving effect to any reduction or termination of Aggregate Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed exceeds the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess. (ii) On the Full Availability Expiration Date, the Aggregate Revolving Commitment shall be automatically and permanently reduced to the Interim Availability.

Appears in 1 contract

Samples: Credit Agreement (Teledyne Technologies Inc)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Alternative Currency Sublimit, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Alternative Currency Sublimit, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 1 contract

Samples: Credit Agreement (X Rite Inc)

Mandatory Reductions. (i) If after giving effect to any reduction or termination of Revolving A Commitments under this Section 2.06, the Letter of Credit Sublimit CHAR1\1829960v3 or the Domestic Swing Line Loan Sublimit exceed the Aggregate Revolving A Commitments at such time, the Letter of Credit Sublimit or the Domestic Swing Line Loan Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 1 contract

Samples: Credit Agreement (Fleetcor Technologies Inc)

Mandatory Reductions. If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess. The unfunded Delayed Draw Term Loan Commitments shall automatically terminate at the expiration of the Delayed Draw Term Loan Availability Period.

Appears in 1 contract

Samples: Credit Agreement (Spirit AeroSystems Holdings, Inc.)

Mandatory Reductions. (i) (A) If after giving effect to any reduction or termination of Revolving A Commitments under this Section 2.06, the Letter of Credit Sublimit or the Domestic Swing Line Loan Sublimit exceed the Aggregate Revolving A Commitments at such time, the Letter of Credit Sublimit or the Domestic Swing Line Loan Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 1 contract

Samples: Credit Agreement (Fleetcor Technologies Inc)

Mandatory Reductions. If If, after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 1 contract

Samples: Credit Agreement (Spirit AeroSystems Holdings, Inc.)

Mandatory Reductions. If after giving effect to any reduction or termination of the Aggregate Revolving Commitments under this Section 2.066.1.2, the Letter of Credit Sublimit or the Swing Line Sublimit exceed exceeds the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Appears in 1 contract

Samples: Credit Agreement (SP Plus Corp)

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