Common use of Optional Termination or Reduction of Commitment Clause in Contracts

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.

Appears in 16 contracts

Samples: Facility Agreement (Usaa State Tax Free Trust), Facility Agreement (Usaa Life Investment Trust), Facility Agreement (Usaa Investment Trust)

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Optional Termination or Reduction of Commitment. The Borrowers on behalf of the applicable Funds shall have the right upon at least three (3) business days prior written notice to CAPCOthe Bank, to terminate or reduce the unused portion of the Commitment. Any such reduction of the Commitment shall be in the amount of Five Million United States Dollars (U.S. $5,000,000 5,000,000) or any larger integral multiple of One Million United States Dollars (U.S. $1,000,000 1,000,000) (EXCEPT 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 the Bank on the effective date of such termination.

Appears in 12 contracts

Samples: Facility Agreement (Usaa Tax Exempt Fund Inc), Facility Agreement (Usaa Investment Trust), Facility Agreement (Usaa State Tax Free Trust)

Optional Termination or Reduction of Commitment. The Borrowers on behalf of the applicable Funds shall have the right upon at least three (3) business days prior written notice to CAPCO, to terminate or reduce the unused portion of the Commitment. Any such reduction of the Commitment commitment shall be in the amount of Five Million United States Dollars (U.S. $5,000,000 5,000,000) or any larger integral multiple of One Million United States Dollars (U.S. $1,000,000 1,000,000) (EXCEPT 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.

Appears in 4 contracts

Samples: Facility Agreement (Usaa Investment Trust), Facility Agreement (Usaa Mutual Fund Inc), Facility Agreement (Usaa Tax Exempt Fund Inc)

Optional Termination or Reduction of Commitment. The Borrowers Borrower on behalf of the applicable Funds shall have the right upon at least three business days day's 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.

Appears in 3 contracts

Samples: Facility Agreement (Usaa Mutual Funds Trust), Facility Agreement (Usaa Mutual Funds Trust), Facility Agreement (Usaa Mutual Funds Trust)

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 CAPCOthe Bank, 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 U.S.$5,000,000 or any larger integral multiple of U.S. $1,000,000 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 the Bank on the effective date of such termination.

Appears in 3 contracts

Samples: Facility Agreement (Usaa Investment Trust), Facility Agreement (Usaa State Tax Free Trust), Facility Agreement (Usaa Tax Exempt Fund Inc)

Optional Termination or Reduction of Commitment. The Borrowers Borrower on behalf of the applicable Funds shall have the right upon at least three business days day’s prior written notice to CAPCOCapCo, 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 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 CapCo on the effective date of such termination.

Appears in 2 contracts

Samples: Facility Agreement (Usaa Mutual Funds Trust), Facility Agreement (Usaa Mutual Funds Trust)

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Optional Termination or Reduction of Commitment. The Borrowers Borrower, on behalf of the applicable Funds Funds, shall have the right upon at least three business days day’s prior written notice to CAPCOCapCo, 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 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 CapCo on the effective date of such termination.

Appears in 2 contracts

Samples: Facility Agreement (Usaa Mutual Funds Trust), Facility Agreement (Usaa Mutual Funds Trust)

Optional Termination or Reduction of Commitment. The Borrowers Borrower on behalf of the applicable Funds shall have the right upon at least three business days day’s 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 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.

Appears in 1 contract

Samples: Facility Agreement (Usaa Mutual Funds Trust)

Optional Termination or Reduction of Commitment. The Borrowers Borrower, on behalf of the applicable Funds Funds, shall have the right upon at least three business days prior written notice to CAPCOCapCo, 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 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 CapCo on the effective date of such termination.

Appears in 1 contract

Samples: Facility Agreement (Usaa Mutual Funds Trust)

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