Common use of Optional Ratable Termination or Reduction Clause in Contracts

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders, provided that each partial reduction shall be in an aggregate amount not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 14 contracts

Samples: 364 Day Credit Agreement (Honeywell International Inc), 364 Day Credit Agreement (Honeywell International Inc), 364 Day Credit Agreement (Honeywell International Inc)

AutoNDA by SimpleDocs

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders, provided that each partial reduction shall be in an aggregate amount not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof, provided that following any such termination or reduction, the aggregate Swing Line Commitments shall not exceed the aggregate Revolving Credit Commitments. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 7 contracts

Samples: Five Year Credit Agreement (Honeywell International Inc), Five Year Credit Agreement (Honeywell International Inc), Five Year Credit Agreement (Honeywell International Inc)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders, provided that each partial reduction shall be in an aggregate amount not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof, provided that following any such termination or reduction, the aggregate Swing Line Commitments shall not exceed the aggregate Revolving Credit Commitments. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 4 contracts

Samples: Five Year Credit Agreement (Honeywell International Inc), Five Year Credit Agreement (Honeywell International Inc), Credit Agreement (Honeywell International Inc)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three two Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments of the Lenders, provided provided, however, that each partial reduction shall be in an the aggregate amount not less than of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 3 contracts

Samples: Credit Agreement (Xerox Corp), Credit Agreement (Xerox Corp), Credit Agreement (Xerox Corp)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments of the Lenders, provided that each partial reduction shall be in an the aggregate amount not less than of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 3 contracts

Samples: Credit Agreement (Corning Inc /Ny), Credit Agreement (Corning Inc /Ny), Credit Agreement (Corning Inc /Ny)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders, provided that each partial reduction shall be in an the aggregate amount not less than of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 2 contracts

Samples: Credit Agreement (Corning Inc /Ny), Credit Agreement (Corning Inc /Ny)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Tranche A Commitments, the Unused Tranche B Commitments or the Unissued Letter of the LendersCredit Commitments, provided that each partial reduction of a Facility (i) shall be in an the aggregate amount not less than of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of thereof and (ii) shall be made ratably among the Commitments, once reduced as provided Appropriate Lenders in this Section 2.06(a), may not be reinstatedaccordance with their Commitments with respect to such Facility.

Appears in 2 contracts

Samples: Credit Agreement (Jabil Inc), Credit Agreement (Jabil Inc)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders, provided that each partial reduction shall be in an aggregate amount not less than $US$10,000,000 or an integral multiple of $US$1,000,000 in excess thereof. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a2.05(a), may not be reinstated.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Honeywell International Inc)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders, provided that each partial reduction shall be in an aggregate amount not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Honeywell International Inc)

AutoNDA by SimpleDocs

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three two Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments of the Lenders, provided provided, however, NYDOCS01/1357750.4 that each partial reduction shall be in an the aggregate amount not less than of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Xerox Corp)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders, provided that each partial reduction shall be in an aggregate amount not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Honeywell International Inc)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Revolving Credit Commitments or the Unissued Letter of the LendersCredit Commitments, provided that each partial reduction of a Facility (i) shall be in an the aggregate amount not less than of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of thereof and (ii) shall be made ratably among the Lenders in accordance with their Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 1 contract

Samples: Five Year Credit Agreement (Jabil Circuit Inc)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the LendersCommitments, provided that each partial reduction (i) shall be in an the aggregate amount not less than of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of thereof and (ii) shall be made ratably among the Lenders in accordance with their Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Jabil Inc)

Optional Ratable Termination or Reduction. The Company shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders, provided that each partial reduction shall be in an aggregate amount not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof, provided that following any such termination or reduction, the aggregate Swing Line Commitments shall not exceed the aggregate Revolving Credit Commitments. The aggregate amount of the Commitments, once reduced as provided in this Section 2.06(a), may not be reinstated.

Appears in 1 contract

Samples: Five Year Credit Agreement (Honeywell International Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!