Optional Reduction of Commitment Amount Sample Clauses

Optional Reduction of Commitment Amount. Subject to --------------------------------------- compliance with the provisions of clause (b) of Section 3.2, the Borrower may, ---------- ----------- from time to time on any Business Day occurring after the Closing Date, voluntarily reduce the Commitment Amount; provided, however, that all such -------- ------- reductions shall require at least three Business Days' prior notice to the Administrative Agent and be permanent, and any partial reduction of the Commitment Amount shall be in a minimum amount of $25,000,000 and in an integral multiple of $5,000,000 in excess thereof.
Sample 1
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Optional Reduction of Commitment Amount. Subject to the terms of clause (b) of Section 3.1, the Borrower may, from time to time on any Business Day, voluntarily reduce the Commitment Amount (in addition to the requirements under Section 2.1.2); provided, however, that other than as required under Section 2.1.2, all such reductions shall require at least three (3) Business Days' prior notice to the Lender and be permanent, and any partial reduction of the Commitment Amount shall be in a minimum amount of $100,000 and in an integral multiple of $10,000; provided, further, that the Borrower may terminate the Commitments in whole if, at the time of and as a condition of such termination, the Borrower shall have repaid in full all Loans, together with all accrued interest thereon to the date of termination.
Sample 1
Optional Reduction of Commitment Amount. The Borrower may, from time to time on any Business Day, voluntarily reduce the Commitment Amount; PROVIDED, HOWEVER, that all such reductions shall require at least three Business Days' prior notice to the Canadian Administrative Agent and be permanent, and any partial reduction of any Commitment Amount shall be in a minimum amount of Cdn. $2,500,000, and greater integral multiples of Cdn. $500,000.
Sample 1
Optional Reduction of Commitment Amount. The Borrower may, --------------------------------------- from time to time on any Business Day occurring after the time of the initial Borrowing hereunder, voluntarily reduce the Revolving Loan Commitment Amount on a Pro Rata basis with reductions in the commitments of the Section 7.2.2(b) Lenders; provided, however, that (i) all such reductions shall require at least -------- ------- one Business Day's prior notice to Lender and be permanent, (ii) any partial reduction of the Revolving Loan Commitment Amount shall be in a minimum amount of $ and in an integral multiple of $ in excess ----------- --------------- thereof and (iii) no such reduction shall reduce the Revolving Loan Commitment Amount below the outstanding principal amount of the Loans then outstanding plus Lender's contingent liabilities described in Section 7.2.2(b) hereof. ----------------
Sample 1

Related to Optional Reduction of Commitment Amount

  • Reduction of Commitment On the last Trading Day of each Pricing Period, the Investor’s Total Commitment under this Agreement automatically (and without the need for any amendment to this Agreement) shall be reduced, on a dollar-for-dollar basis, by the total amount of the Fixed Request Amount and the Optional Amount Dollar Amount, if any, for such Pricing Period paid to the Company at the Settlement Date.

  • Prepayment; termination of Commitment A notice under Clause 24.4 shall be irrevocable; the Agent shall promptly notify the Notifying Lender of the Borrower’s notice of intended prepayment; and:

  • Reduction of the Commitment Amounts The Commitment Amounts are subject to reduction from time to time pursuant to this Section 2.2.

  • Prepayment; termination of Commitments A notice under Clause 5.13 shall be irrevocable; the Agent shall promptly notify the Lenders or (as the case may require) the Affected Lender of the Borrowers’ notice of intended prepayment; and:

  • Optional Termination or Reduction of Commitment The Borrowers on behalf of the applicable Funds shall have the right upon at least three business days prior written notice to CAPCO, to terminate or reduce the unused portion of the Commitment. Any such reduction of the Commitment shall be in the amount of U.S. $5,000,000 or any larger integral multiple of U.S. $1,000,000 (EXCEPT that any reduction may be in the aggregate amount of the unused Commitment). Accrued fees with respect to the terminated Commitment shall be payable to CAPCO on the effective date of such termination.

  • Reduction of Commitments The Revolver Commitments shall terminate on the Maturity Date. Borrowers may reduce the Revolver Commitments of either Class, without premium or penalty, to an amount not less than the sum of (A) the Revolver Usage of such Class as of such date, plus (B) the principal amount of all Revolving Loans of such Class not yet made as to which a request has been given by Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Credit of such Class not yet issued as to which a request has been given by Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $5,000,000), shall be made by providing not less than five (5) Business Days prior written notice to Agent or such shorter period as the Agent may agree in its reasonable discretion, and shall be irrevocable; provided that such notice of termination may state that such notice is conditioned upon the effectiveness of other credit facilities or the closing of one or more securities offerings or other transactions, in which case such notice may be revoked by Borrowers (by notice to Agent from Parent on or prior to the specified effective date) if such condition is not satisfied. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Revolving Lender proportionately in accordance with its ratable share thereof.

  • Optional Termination or Reduction of Commitments During the Revolving Credit Period, the Company may, upon at least three Domestic Business Days’ notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $25,000,000 or any larger multiple thereof, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the Loans.

  • Voluntary Reduction of Commitment Borrower shall have the right, at any time and from time to time, without penalty or charge, upon at least five (5) Banking Days’ prior written notice by a Responsible Official of Borrower to the Administrative Agent, voluntarily to reduce, permanently and irrevocably, in aggregate principal amounts in an integral multiple of $1,000,000 but not less than $10,000,000, or to terminate, all or a portion of the then undisbursed portion of the Commitment. The Administrative Agent shall promptly notify the Lenders of any reduction or termination of the Commitment under this Section.

  • Termination, Reduction and Increase of Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Termination Reduction or Increase of the Commitments (a) The Company shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that (x) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Advances then outstanding, and (y) once terminated, a portion of a Commitment shall not be reinstated except pursuant to Section 2.05(c).

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