Mandatory Termination or Reduction of Commitments. Unless previously terminated, the Commitments shall terminate on the Termination Date.
Mandatory Termination or Reduction of Commitments. (a) The Commitments shall terminate (i) on the Commitment Termination Date, (ii) upon the occurrence of a Change in Control, on any date that shall have been specified for such termination in a notice of termination delivered by the Administrative Agent (acting at the direction of the Required Banks) to the Borrower; provided that if the Borrower shall have provided written notice to the Administrative Agent of the occurrence of such Change in Control (or a potential occurrence of such Change in Control), specifying the details thereof and the date or the expected date of the occurrence thereof, then such notice of termination must be delivered to the Borrower no later than 45 days after the delivery of such notice from the Borrower to the Administrative Agent (it being understood that in the event the Borrower shall have provided to the Administrative Agent a notice of a potential occurrence of a Change in Control, the notice of termination may specify that the date of the termination of the Commitments shall be the date of the occurrence of such Change in Control, without referring to a specific calendar date), and (iii) as provided in Section 6.01.
(b) In the event the Specified Acquisition Agreement shall be terminated in accordance with its terms prior to the consummation of the Specified Acquisition, then (i) the Borrower shall give prompt (and in any event within one (1) Business Day) written notice to the Administrative Agent of such termination and (ii) unless previously terminated, the Commitments shall terminate on the date that is three (3) Business Days after the date of such termination of the Specified Acquisition Agreement. Promptly following receipt of any such notice, the Administrative Agent shall advise the Banks of the contents thereof.
(c) In the event and on each occasion that, on or after the Closing Date and prior to the termination of all the Commitments, the Borrower or any of its Subsidiaries receives any Net Cash Proceeds in respect of a Reduction/Prepayment Event, then (i) the Borrower shall give prompt (and in any event within one (1) Business Day) written notice to the Administrative Agent of such Reduction/Prepayment Event, specifying the amount of Net Cash Proceeds resulting therefrom (together with a reasonably detailed calculation thereof), and (ii) the Commitments will be automatically reduced, on the date that is two (2) Business Days after the date of receipt of such Net Cash Proceeds, by an amount equal to the lesser...
Mandatory Termination or Reduction of Commitments. (a) The 2022 Extended Revolving Credit Commitment shall terminate at 5:00 p.m. on the 2022 Extended Revolving Credit Maturity Date. At 5:00 p.m. on the 2022 Non-Extended Revolving Credit Maturity Date, the 2022 Non-Extended Revolving Credit Commitments will terminate and the 2022 Non-Extended Revolving Credit Lenders will have no further obligation to make Revolving Credit Loans or fund Revolving L/C Borrowings; provided that the foregoing will not release any 2022 Non-Extended Revolving Credit Lender from any such obligation to fund Revolving Credit Loans or Revolving L/C Borrowings that was required to be performed on or prior to the 2022 Non-Extended Revolving Credit Maturity Date. On the 2022 Non-Extended Revolving Credit Maturity Date, all outstanding Revolving L/C Borrowings shall be deemed to be outstanding with respect to (and reallocated under) the 2022 Extended Revolving Credit Commitments and the Revolving Credit Commitment Percentage of the Revolving Credit Lenders shall be determined to give effect to the termination of the 2022 Non-Extended Revolving Credit Commitments (in each case, so long as after giving effect to such reallocation, the Revolving Credit Exposure of each 2022 Extended Revolving Credit Lender does not exceed its 2022 Extended Revolving Credit Commitment). On and after the 2022 Non-Extended Revolving Credit Maturity Date, the 2022 Extended Revolving Credit Lenders will be required, in accordance with their Revolving Credit Commitment Percentage, to fund Revolving Credit Loans and Revolving L/C Borrowings in respect of Unpaid Drawings arising on or after such date; provided that the Revolving Credit Exposure of each 2022 Extended Revolving Credit Lender does not exceed its 2022 Extended Revolving Credit Commitment. The Specified Revolving Letter of Credit Commitment of each Revolving Letter of Credit Issuer shall terminate on the applicable Revolving L/C Maturity Date.
(b) The Term Letter of Credit Commitment shall be reduced by the amount of any prepayment or repayment of principal of Term C Loans pursuant to Section 2.5(a), 5.1 or 5.2 and the Borrower shall be permitted to withdraw an amount up to the amount of such prepayment or repayment from the Term C Loan Collateral Accounts to complete such prepayment or repayment; provided that after giving effect to such withdrawal, the Term L/C Cash Coverage Requirement shall be satisfied.
Mandatory Termination or Reduction of Commitments. (a) The Total Revolving Commitment shall terminate at 5:00 p.m. (New York City time) on the Termination Date.
(b) The Swingline Commitment shall terminate at 5:00 p.m. (New York City time) on the earlier of (x) the Swingline Maturity Date and (y) the Termination Date.
(c) If any reduction in the Borrowing Base would result in the Borrowing Base being less than the Total Revolving Commitments, the Total Revolving Commitments shall be automatically and permanently (but subject to Section 2.16) reduced, without premium or penalty, contemporaneously with such reduction in the Borrowing Base so that the Total Revolving Commitment equals the Borrowing Base as reduced; provided that any such reduction shall apply ratably to reduce each Revolving Lender’s Revolving Commitment. Concurrently with, and effective on, the Redetermination Date applicable to such Borrowing Base reduction, (i) Schedule 1.1(a) and the Register shall each be amended to reflect the decrease in the Total Revolving Commitment and the Commitment of each Lender and (ii) the Administrative Agent shall promptly distribute to the Borrower, the Administrative Agent, the Swingline Lender, the Letter of Credit Issuer and each Revolving Lender the revised Schedule 1.1(a).
(d) Notwithstanding anything to the contrary in this Agreement, if the Spinoff Transaction is not consummated by the Spinoff Transaction Deadline, the Total Revolving Commitments shall be automatically and permanently terminated on the Business Day immediately following the Spinoff Transaction Deadline.
Mandatory Termination or Reduction of Commitments. (a) The Revolving Credit Commitment shall terminate at 5:00 p.m. on the Revolving Credit Maturity Date.
(b) The Term Letter of Credit Commitment shall be reduced by the amount of any prepayment or repayment of principal of Term C Loans pursuant to Section 2.5(a), 5.1 or 5.2 and the Borrower shall be permitted to withdraw an amount up to the amount of such prepayment or repayment from the Term C Loan Collateral Accounts to complete such prepayment or repayment; provided that after giving effect to such withdrawal, the Term L/C Cash Coverage Requirement shall be satisfied
Mandatory Termination or Reduction of Commitments. The Commitment of each Lender in respect of the Initial Loans on the Effective Date shall be automatically and permanently reduced to $0 upon the making of such Lender’s Loan pursuant to Section 2.1.
Mandatory Termination or Reduction of Commitments. The Commitments shall terminate on the Termination Date, and any Loans then outstanding (together with accrued interest thereon) shall be due and payable on such date.
Mandatory Termination or Reduction of Commitments. (a) The Revolving Commitment shall terminate at 5:00 p.m. on the Revolving Credit Maturity Date. The Specified Revolving L/C Commitment of each Revolving L/C Issuer shall terminate on the Revolving L/C Maturity Date.
(b) The Term L/C Commitment shall be reduced by the amount of any prepayment or repayment of principal of Term C Loans pursuant to Section 2.5(a), 5.1 or 5.2 and the Borrower shall be permitted to withdraw an amount up to the amount of such prepayment or repayment from the Term C Collateral Accounts to complete such prepayment or repayment; provided that after giving effect to such withdrawal, the Term L/C Cash Coverage Requirement shall be satisfied.
Mandatory Termination or Reduction of Commitments. (a) The Total Commitment shall terminate at 5:00 p.m. (Central time) on the Termination Date.
(b) If any reduction in the Borrowing Base would result in the Borrowing Base being less than the Total Commitments, the Total Commitments shall be automatically and permanently (but subject to Section 2.16) reduced, without premium or penalty, contemporaneously with such reduction in the Borrowing Base so that the Total Commitment equals the Borrowing Base as reduced; provided that any such reduction shall apply ratably to reduce each Lender’s Commitment. Concurrently with, and effective on, the Redetermination Date applicable to such Borrowing Base reduction, (i) Schedule 1.1(a) and the Register shall each be amended to reflect the decrease in the Total Commitment and the Commitment of each Lender and (ii) the Administrative Agent shall promptly distribute to the Borrower, the Administrative Agent, each Letter of Credit Issuer and each Lender the revised Schedule 1.1(a).
Mandatory Termination or Reduction of Commitments. (a) The Commitments shall terminate on the Termination Date.
(b) On the fifth Domestic Business Day following any Asset Sale that results in positive Excess Net Sales Proceeds, (i) the Company will deliver to each of the Banks a certificate of the chief financial officer, the chief accounting officer or the treasurer of the Company certifying the amount of such Excess Net Sales Proceeds from such Asset Sale, (ii) the Commitments shall be automatically reduced ratably by an amount equal to (a) 100% of the amount of such Excess Net Sales Proceeds minus (b) the amount, if any, by which the Other Credit Agreement Commitments are reduced pursuant to Section 2.10(d)(ii) of the Other Credit Agreement as a result of such Excess Net Sales Proceeds from such Asset Sale, and (iii) the Company shall be obligated to repay such principal amount (together with accrued interest thereon) of each Bank's outstanding Loans, if any, as may be necessary so that after such repayment the aggregate outstanding principal amount of such Bank's Loans does not exceed the amount of such Bank's Commitment as then reduced.
