Common use of Optional Reduction of Revolving Commitment Amounts or Termination of Revolving Commitments Clause in Contracts

Optional Reduction of Revolving Commitment Amounts or Termination of Revolving Commitments. The Borrower may, at any time, upon not less than 5 Business Days prior written notice from the Borrower to the Agent, reduce the Revolving Commitment Amounts, ratably, with any such reduction in a minimum aggregate amount for all the Banks of $10,000,000, or, if more, in an integral multiple of $1,000,000; provided, that the Borrower may not at any time reduce the Aggregate Revolving Commitment Amounts below the Total Revolving Outstandings. The Borrower may, at any time when there are no Swingline Loans or Letter of Credit Obligations outstanding, upon not less than 5 Business Days prior written notice from the Borrower to the Agent, terminate the Commitments in their entirety. Upon termination of the Commitments pursuant to this Section, the Borrower shall pay to the Agent for the account of the Banks the full amount of all outstanding Advances, all outstanding Swingline Loans, all accrued and unpaid interest thereon, all unpaid Revolving Commitment Fees accrued to the date of such termination, any indemnities payable with respect to Advances pursuant to Section 2.26 and all other unpaid Obligations of the Borrower to the Agent, the Swingline Bank and the Banks hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Life Time Fitness Inc), Credit Agreement (Life Time Fitness Inc), Credit Agreement (Life Time Fitness Inc)

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Optional Reduction of Revolving Commitment Amounts or Termination of Revolving Commitments. The Borrower may, at any time, upon not less than 5 two Business Days prior written notice from the Borrower to the Agent, reduce the Revolving Commitment Amounts, ratably, with any such reduction in a minimum aggregate amount for all the Banks of $10,000,0001,000,000, or, if more, in an integral multiple of $1,000,000; provided, however, that the Borrower may not at any time reduce the Aggregate Revolving Commitment Amounts below the Total Revolving Outstandings. The Borrower may, at any time when there are no Swingline Loans or Letter Letters of Credit Obligations outstanding, upon not less than 5 two Business Days prior written notice from the Borrower to the Agent, terminate the Revolving Commitments in their entirety. Upon termination of the Revolving Commitments pursuant to this Section, the Borrower shall pay to the Agent for the account of the Banks the full amount of all outstanding Advances, all outstanding Swingline Loans, all accrued and unpaid interest thereon, all unpaid Revolving Commitment Fees accrued to the date of such termination, any indemnities payable with respect to Advances pursuant to Section 2.26 2.27 and all other unpaid Obligations obligations of the Borrower to the Agent, the Swingline Bank Agent and the Banks hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Marten Transport LTD), Credit Agreement (Marten Transport LTD)

Optional Reduction of Revolving Commitment Amounts or Termination of Revolving Commitments. The Borrower may, at any time, upon not less than 5 three Business Days prior written notice from the Borrower to the Agent, reduce the Revolving Commitment Amounts, ratably, with any such reduction in a minimum aggregate amount for all the Banks of $10,000,000, 1,000,000 or, if more, in an integral multiple of $1,000,000; provided, however, that the Borrower may not at any time reduce the Aggregate Revolving Commitment Amounts below the Total aggregate unpaid principal balance of all the Revolving OutstandingsNotes, after giving affect to any repayments effected on the date of such reduction. The Borrower may, at any time when there are no Swingline Loans or Letter of Credit Obligations outstandingtime, upon not less than 5 three Business Days prior written notice from the Borrower to the Agent, terminate the Revolving Commitments in their entirety. Upon termination of the Revolving Commitments pursuant to this Section, the Borrower shall pay to the Agent for the account of the Banks the full amount of all outstanding Advances, all outstanding Swingline Loans, all accrued and unpaid interest thereon, all unpaid Revolving Commitment Fees accrued to the date of such termination, any indemnities payable with respect to Advances pursuant to Section 2.26 2.18 and all other unpaid Obligations of the Borrower to the Agent, the Swingline Bank Agent and the Banks hereunder.

Appears in 2 contracts

Samples: 364 Day Revolving Credit Agreement (Alleghany Corp /De), Revolving Credit Agreement (Alleghany Corp /De)

Optional Reduction of Revolving Commitment Amounts or Termination of Revolving Commitments. The Borrower may, at any time, upon not less than 5 five Business Days prior written notice from the Borrower to the Agent, reduce the Revolving Commitment Amounts, ratably, with any such reduction in a minimum aggregate amount for all the Banks of $10,000,0005,000,000, or, if more, in an integral multiple of $1,000,000; providedPROVIDED, HOWEVER, that the Borrower may not at any time reduce the Aggregate Revolving Commitment Amounts below the Total aggregate unpaid principal balance of all the Bid Loan Notes, Revolving OutstandingsNotes and the Swing-Line Note. The Borrower may, at any time when there are no Swingline Loans or Letter of Credit Obligations outstandingtime, upon not less than 5 five Business Days prior written notice from the Borrower to the Agent, terminate the Revolving Commitments in their entirety. Upon termination of the Revolving Commitments pursuant to this Section, the Borrower shall pay to the Agent for the account of the Banks the full aggregate unpaid principal amount of all outstanding Advances, all outstanding Swingline the Swing-Line Loan and the Bid Loans, all accrued and unpaid interest thereon, all unpaid Revolving Commitment Fees accrued to the date of such termination, any indemnities payable with respect to Advances pursuant to Section 2.26 2.18, and all other unpaid Obligations obligations of the Borrower to the Agent, the Swingline Bank Agent and the Banks hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Nash Finch Co), Credit Agreement (Nash Finch Co)

Optional Reduction of Revolving Commitment Amounts or Termination of Revolving Commitments. The Borrower may, at any time, upon not less than 5 three Business Days prior written notice from the Borrower to the Agent, reduce the Revolving Commitment Amounts, ratably, with any such reduction in a minimum aggregate amount for all the Banks of $10,000,000, 1,000,000 or, if more, in an integral multiple of $1,000,000; provided, however, that the Borrower may not at any time reduce the Aggregate Revolving Commitment Amounts below the Total aggregate unpaid principal balance of all the Revolving OutstandingsNotes, after giving affect to any repayments effected on the date of such reduction. The Borrower may, at any time when there are no Swingline Loans or Letter of Credit Obligations outstandingtime, upon not less than 5 three Business Days prior written notice from the Borrower to the Agent, terminate the Revolving Commitments in their entirety. Upon termination of the Revolving Commitments pursuant to this Section, the Borrower shall pay to the Agent for the account of the Banks the full amount of all outstanding Advances, all outstanding Swingline Loans, all accrued and unpaid interest thereon, all unpaid Revolving Commitment Fees accrued to the date of such termination, any indemnities payable with respect to Advances pursuant to Section 2.26 2.17 and all other unpaid Obligations of the Borrower to the Agent, the Swingline Bank Agent and the Banks hereunder.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Alleghany Corp /De), 364 Day Revolving Credit Agreement (Alleghany Corp /De)

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Optional Reduction of Revolving Commitment Amounts or Termination of Revolving Commitments. The Borrower may, at any time, upon not less than 5 3 Business Days prior written notice from the Borrower to the Agent, reduce the Revolving Commitment Amounts, ratably, with any such reduction in a minimum aggregate amount for all the Banks of $10,000,0001,000,000, or, if more, in an integral multiple of $1,000,000100,000; provided, however, that the Borrower may not at any time reduce the Aggregate Revolving Commitment Amounts below the Total Revolving Outstandings. The Borrower may, at any time when there are no Swingline Loans or Letter Letters of Credit Obligations outstanding, upon not less than 5 10 Business Days prior written notice from the Borrower to the Agent, terminate the Revolving Commitments in their entirety. Upon termination of the Revolving Commitments pursuant to this Section, the Borrower shall pay to the Agent for the account of the Banks the full amount of all outstanding Advances, all outstanding Swingline Loans, all accrued and unpaid interest thereon, all unpaid Revolving Commitment Fees accrued to the date of such termination, any indemnities payable with respect to Advances pursuant to Section 2.26 2.25 and all other unpaid Obligations of the Borrower to the Agent, the Swingline Bank Agent and the Banks hereunder.

Appears in 1 contract

Samples: Credit Agreement (Lecg Corp)

Optional Reduction of Revolving Commitment Amounts or Termination of Revolving Commitments. The Borrower may, at any time, upon not less than 5 three Business Days prior written notice from the Borrower to the AgentBanks, reduce the Revolving Commitment Amounts, ratably, with any such reduction in a minimum aggregate amount for all the Banks of $10,000,0001,000,000, or, if more, in an integral multiple of $1,000,000; provided, however, that the Borrower may not at any time reduce the Aggregate Revolving Commitment Amounts below the Total Aggregate Revolving Outstandings. The Borrower may, at any time when there are no Swingline Loans or Letter Letters of Credit Obligations is outstanding, upon not less than 5 three Business Days prior written notice from the Borrower to the AgentBanks, terminate the Revolving Commitments in their entirety. Upon termination of the Revolving Commitments pursuant to this Section, the Borrower shall pay to the Agent for the account of the Banks the full amount of all outstanding Advances, all outstanding Swingline Loans, all accrued and unpaid interest thereon, all unpaid Unused Revolving Commitment Fees accrued to the date of such termination, any indemnities payable with respect to Advances pursuant to Section 2.26 and all other unpaid Obligations obligations of the Borrower to the Agent, the Swingline Bank Agent and the Banks hereunderhereunder and shall pay into the Holding Account an amount equal to the aggregate face amount of the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Norstan Inc)

Optional Reduction of Revolving Commitment Amounts or Termination of Revolving Commitments. The Borrower may, at any time, upon not less than 5 three Business Days prior written notice from the Borrower to the AgentBanks, reduce the Revolving Commitment Amounts, ratably, with any such reduction in a minimum aggregate amount for all the Banks of $10,000,0001,000,000, or, if more, in an integral multiple of $1,000,000500,000; provided, however, that the Borrower may not at any time reduce the Aggregate Revolving Commitment Amounts below the Total Aggregate Revolving Outstandings. The Borrower may, at any time when there are no Swingline Loans or Letter the Existing Letters of Credit Obligations is no longer outstanding, upon not less than 5 three Business Days prior written notice from the Borrower to the AgentBanks, terminate the Revolving Commitments in their entirety. Upon termination of the Revolving Commitments pursuant to this Section, the Borrower shall pay to the Agent for the account of the Banks the full amount of all outstanding Advances, all outstanding Swingline Loans, all accrued and unpaid interest thereon, all unpaid Unused Revolving Commitment Fees accrued to the date of such termination, any indemnities payable with respect to Advances pursuant to Section 2.26 and all other unpaid Obligations obligations of the Borrower to the Agent, the Swingline Bank Agent and the Banks hereunderhereunder and shall pay into the Holding Account an amount equal to the aggregate face amount of the Existing Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Norstan Inc)

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