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

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Business Days’ notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount.

Appears in 2 contracts

Samples: Credit Agreement (United States Steel Corp), Credit Agreement (United States Steel Corp)

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Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters the aggregate Exposures of Credit or LC Reimbursement Obligations are outstanding all Banks shall be zero at the time of such time termination, or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate Exposures of all Banks.

Appears in 2 contracts

Samples: Credit Agreement (Beverly Enterprises Inc), Credit Agreement (Beverly Enterprises Inc /De/)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three 3 Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably proportionately reduce the Unused Commitments from time to time by an aggregate amount of at least $5,000,000 or any larger multiple of $1,000,000, the aggregate amount 10,000,000. Upon a reduction of the Unused Commitments, each Bank's Commitments in excess of the Total Outstanding Amountshall be permanently and ratably reduced.

Appears in 2 contracts

Samples: Credit Agreement (Mohawk Industries Inc), Credit Agreement (Mohawk Industries Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three 3 Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably proportionately reduce the Unused Commitment from time to time by an aggregate amount of at least $5,000,000 or and any larger incremental multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount.

Appears in 2 contracts

Samples: Credit Agreement (Gerber Scientific Inc), Credit Agreement (Gerber Scientific Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower Company may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time time, or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 10,000,000 or any larger multiple of $1,000,000, 5,000,000 the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 2 contracts

Samples: Credit Agreement (Union Texas Petroleum Holdings Inc), Credit Agreement (Union Texas Petroleum Holdings Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three 3 Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably proportionately reduce the Unused Commitment from time to time by an aggregate amount of at least $5,000,000 or and any larger incremental multiple of $1,000,000, . The Borrower hereby irrevocably and voluntarily elects to reduce the aggregate amount Commitments to the Commitment levels set forth below on the Commitment Reduction Dates set forth below (to the extent not already reduced to or below such levels as a result of the Commitments in excess application of the Total Outstanding Amount.Section 2.08(b)):

Appears in 2 contracts

Samples: Credit Agreement (Gerber Scientific Inc), Credit Agreement (Gerber Scientific Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding AmountUnused Commitments.

Appears in 2 contracts

Samples: Credit Agreement (Universal City Development Partners LTD), Credit Agreement (Universal City Development Partners LTD)

Optional Termination or Reduction of Commitments. (a) The Borrower Company may, without premium or penalty, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding Bank has an Outstanding Committed Amount at such time or (ii) ratably reduce the Commitments from time to time time, in each case by an aggregate amount of at least $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount.15,000,000; provided that immediately after such reduction:

Appears in 2 contracts

Samples: Credit Agreement (Venator Group Inc), Security Agreement (Venator Group Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Business Days’ notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding AmountCommitments.

Appears in 2 contracts

Samples: Year Term Loan Agreement (United States Steel Corp), Term Loan Agreement (United States Steel Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days’ notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time time, or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 10,000,000 or any larger multiple of $1,000,000, 1,000,000 the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 2 contracts

Samples: Credit Agreement (Duke Energy Corp), Credit Agreement (Duke Capital LLC)

Optional Termination or Reduction of Commitments. (a) The During the Availability Period, the Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably proportionately reduce from time to time by an aggregate amount of at least $5,000,000 10,000,000 or any larger multiple of $1,000,000, the aggregate amount unused portions of the Commitments in excess of the Total Outstanding AmountCommitments.

Appears in 1 contract

Samples: Credit Agreement (Ck Witco Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Business Days’ notice to the Administrative Agent, Company may (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) upon at least three Domestic Business Days' notice to the Administrative Agent, ratably reduce from time to time by an aggregate amount of $5,000,000 50,000,000 or any larger multiple of $1,000,000thereof, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal Dollar Amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Heinz H J Co)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Business Days’ notice to the Administrative Agent, Company may (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) upon at least three Domestic Business Days’ notice to the Administrative Agent, ratably reduce from time to time by an aggregate amount of $5,000,000 50,000,000 or any larger multiple of $1,000,000thereof, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal Dollar Amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Heinz H J Co)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days’ Days= notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations Liabilities are outstanding at such time time, or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger integral multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding AmountAggregate Usage.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Freightways Inc)

Optional Termination or Reduction of Commitments. (a) The During the Availability Period, the Borrower may, upon at least three Domestic Business Days’ notice to the Administrative AgentAgent (which shall give prompt notice thereof to each Bank), (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an a minimum aggregate amount of $5,000,000 10,000,000 or any larger multiple of $1,000,0001,000,000 in excess thereof, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans. Any termination or reduction of the Commitments shall be permanent.

Appears in 1 contract

Samples: Credit Agreement (Ingersoll Rand Co LTD)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative AgentAgent (or such shorter period as the Agent may agree), (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time time, or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger integral multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding AmountAggregate Usage.

Appears in 1 contract

Samples: Bridge Credit Agreement (Con-Way Inc.)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters the aggregate Exposures of Credit or LC Reimbursement Obligations are outstanding all Banks shall be zero at the time of such time termination, or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate Exposures of all Banks.

Appears in 1 contract

Samples: Credit Agreement (Beverly Enterprises Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower Company may, without premium or penalty, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding Bank has an Outstanding Committed Amount at such time or (ii) ratably reduce the Commitments from time to time time, in each case by an aggregate amount of at least $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount.; provided that immediately after such reduction:

Appears in 1 contract

Samples: Credit Agreement (Foot Locker Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding AmountCommitments.

Appears in 1 contract

Samples: Term Loan Agreement (United States Steel Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce the Commitments from time to time by an aggregate amount of $5,000,000 or any a larger multiple of $1,000,000thereof. Promptly after receiving a notice pursuant to this subsection, the aggregate amount Agent shall notify each Bank of the Commitments in excess of the Total Outstanding Amountcontents thereof.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Ultramar Diamond Shamrock Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower Company may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably proportionately reduce from time to time time, by an aggregate amount of at least $5,000,000 or any larger multiple of $1,000,00010,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Polaroid Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three two Domestic Business Days' irrevocable notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 10,000,000 or any a larger multiple of $1,000,000, 1,000,000 the aggregate amount of the Commitments in excess of the Total Outstanding AmountDollar Amount of the aggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Arco Chemical Co)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 10,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Unumprovident Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time time, or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger integral multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans. SECTION 2.10.

Appears in 1 contract

Samples: 000 Credit Agreement (CNF Transportation Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 10,000,000 or any a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Cisco Systems Inc)

Optional Termination or Reduction of Commitments. (a) The ------------------------------------------------ Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 10,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Unumprovident Corp)

Optional Termination or Reduction of Commitments. (a) The Prior to the Commitment Termination Date, the Borrower may, upon at least three Domestic Business Days’ notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 50,000,000 or any larger integral multiple of $1,000,000thereof, the aggregate amount of the Commitments in excess of the Total Outstanding AmountCommitments.

Appears in 1 contract

Samples: Term Loan Agreement (Dow Chemical Co /De/)

Optional Termination or Reduction of Commitments. (a) The Prior to ------------------------------------------------ the Disbursement Date, the Borrower may, upon at least three Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Term Loan Agreement (Policy Management Systems Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, without premium or penalty, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding Bank has an Outstanding Committed Amount at such time or (ii) ratably reduce the Commitments from time to time time, in each case by an aggregate amount of at least $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount.25,000,000; provided that immediately after such reduction:

Appears in 1 contract

Samples: Credit Agreement (Woolworth Corporation)

Optional Termination or Reduction of Commitments. (a) The Borrower Company may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably proportionately reduce from time to time time, by an aggregate amount of at least $5,000,000 or any larger multiple of $1,000,00010,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Polaroid Corp)

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Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters Letter of Credit or LC Reimbursement Obligations Liabilities are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount.

Appears in 1 contract

Samples: Credit Agreement (United States Steel Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters Letter of Credit or LC Reimbursement Obligations Liabilities are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 25,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount.

Appears in 1 contract

Samples: Credit Agreement (Textron Financial Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower Company may, without premium or penalty, upon at least three Domestic Business Days’ notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding Bank has an Outstanding Committed Amount at such time or (ii) ratably reduce the Commitments from time to time time, in each case by an aggregate amount of at least $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount.; provided that immediately after such reduction:

Appears in 1 contract

Samples: Credit Agreement (Foot Locker Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower may, without premium or penalty, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding Bank has an Outstanding Committed Amount at such time or (ii) ratably reduce the Commitments from time to time time, in each case by an aggregate amount of at least $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount.15,000,000; provided that immediately after such reduction:

Appears in 1 contract

Samples: Credit Agreement (Venator Group Inc)

Optional Termination or Reduction of Commitments. (a) The Prior to the Closing Date the Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Term Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding AmountTerm Commitments.

Appears in 1 contract

Samples: Credit Agreement (Metro-Goldwyn-Mayer Inc)

Optional Termination or Reduction of Commitments. (a) The ------------------------------------------------ Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 10,000,000 or any larger multiple of $1,000,000, 1,000,000 the aggregate amount of the Commitments in excess of the Total Aggregate Outstanding AmountCredit Exposure.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Duke Energy Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably proportionately reduce from time to time by an aggregate amount of $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Cone Mills Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, without premium or penalty, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce the Commitments from time to time time, in each case by an aggregate amount of at least $5,000,000 10,000,000. Upon any such termination or any larger multiple reduction of $1,000,000the Commitments, the aggregate amount Administrative Agent shall promptly notify each Bank of the Commitments in excess of the Total Outstanding Amountsuch termination or reduction.

Appears in 1 contract

Samples: Bridge Loan Agreement (Venator Group Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower Company may, upon at least three Domestic Business Days' notice to the Administrative Agent, (ia) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time time, or (iib) ratably reduce from time to time by an aggregate amount of $5,000,000 10,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Applied Materials Inc /De)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Business Days' notice to the Administrative Servicing Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time the unused portions of the Commitments; provided that each such reduction shall reduce the Commitments by an aggregate amount of $5,000,000 (or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount). Section 2.11.

Appears in 1 contract

Samples: Credit Agreement (Clorox Co /De/)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days’ notice to the Administrative Agent, (ia) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (iib) ratably reduce from time to time by an aggregate amount of $5,000,000 25,000,000 or any larger multiple of $1,000,0005,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Target Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 25,000,000 or any larger multiple of $1,000,0005,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Toyota Motor Credit Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 25,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Day Credit Agreement (Textron Financial Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower Company may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 1,000,000 or any larger multiple of $1,000,000thereof, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans. SECTION 2.10.

Appears in 1 contract

Samples: Credit Agreement (Kerr McGee Corp)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters the aggregate Exposures of Credit or LC Reimbursement Obligations are outstanding all Banks shall be zero at the time of such time termination, or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amount.aggregate Exposures of all Banks..

Appears in 1 contract

Samples: Credit Agreement (New Beverly Holdings Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Business Days’ notice to the Administrative Agent, Company may (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) upon at least three Domestic Business Days’ notice to the Administrative Agent, ratably reduce from time to time by an aggregate amount of $5,000,000 50,000,000 or any larger multiple of $1,000,000thereof, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Heinz H J Co)

Optional Termination or Reduction of Commitments. (a) The Borrower At any time prior to the Termination Date, the Borrowers may, upon at least three 3 Domestic Business Days' notice to the Administrative Agent, (ia) terminate the Commitments at any timein full, if no Loans or Letters of Credit or LC Reimbursement Obligations Advances are outstanding at such time time, or (iib) ratably reduce from time to time by (i) an aggregate amount of $5,000,000 or any larger multiple of $1,000,0005,000,000 or (ii) the full amount thereof, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Advances. The Lenders' Commitments will be terminated or ratably reduced, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (Sunamerica Inc)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time time, or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 25,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Masco Corp /De/)

Optional Termination or Reduction of Commitments. (a) The Borrower may, upon at least three Domestic Business Days' prior irrevocable written notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans or Letters of Credit or LC Reimbursement Obligations are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 10,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the Total Outstanding Amountaggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Medium Term Credit Agreement (Chubb Corp)

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