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 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.

Appears in 1 contract

Samples: Term Loan 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 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 $1,000,000thereof, the aggregate amount of the Commitments.amount

Appears in 1 contract

Samples: Credit Agreement (Central Hudson Gas & Electric 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 time, if no Loans are outstanding at such 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 CommitmentsCommitments in excess of the aggregate 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 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 CommitmentsCommitments in excess of the aggregate 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 AgentAgent (which shall promptly notify the Banks), (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 $5,000,000 or any larger multiple of $1,000,000thereof, the aggregate amount of the CommitmentsCommitments in excess of the aggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Unova 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 the aggregate Exposures of all Banks shall be zero at the time of such 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 CommitmentsCommitments in excess of the aggregate Exposures of all Banks.

Appears in 1 contract

Samples: Credit Agreement (Beverly Enterprises Inc)

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 time, if no Loans are outstanding at such 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 CommitmentsCommitments in excess of the Aggregate 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 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 CommitmentsCommitments in excess of the aggregate 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 time, if no Loans 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 CommitmentsCommitments in excess of the aggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Credit Agreement (Masco Corp /De/)

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 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 Term 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 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 CommitmentsCommitments in excess of the Aggregate Outstanding Credit 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 Letter of Credit 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 CommitmentsCommitments 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 may, upon at least three 3 Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time 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 $1,000,0005,000,000, the aggregate amount Facility A Commitments. If the Facility A Commitments are terminated in their entirety, all accrued fees (as provided under Section 2.07) on such Facility A Commitments shall be payable on the effective date of the Commitmentssuch termination.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Papers Inc)

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 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 CommitmentsCommitments in excess of the Dollar 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 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 CommitmentsCommitments in excess of the aggregate 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 may, upon at least three Domestic Business Days' ’ notice to the Administrative Agent, (ia) terminate the Commitments at any time time, if no Loans 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.Commitments in excess of the aggregate outstanding principal amount of the Loans. Section 2.09

Appears in 1 contract

Samples: Assignment and Assumption Agreement Agreement

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 time, or (ii) ratably proportionately reduce all or any part of the Unused Commitments, after deducting therefrom the aggregate amount of any outstanding Money Market Loans, from time to time by an aggregate amount of at least $5,000,000 10,000,000 or any larger integral multiple of $1,000,000, the aggregate amount of the Commitments.5,000,000. If the

Appears in 1 contract

Samples: Credit Agreement (Flowers Industries Inc /Ga)

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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, (ia) terminate the Commitments at any time, if no Loans 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 CommitmentsCommitments in excess of the aggregate 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' prior irrevocable written 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 $5,000,000 10,000,000 or any larger multiple of $1,000,000, the aggregate amount of the CommitmentsCommitments in excess of the aggregate outstanding principal amount of the Loans.

Appears in 1 contract

Samples: Medium Term Credit Agreement (Chubb 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 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 CommitmentsCommitments in excess of the aggregate 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, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any 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 Commitmentscontents thereof.

Appears in 1 contract

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

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 Letter of Credit 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 CommitmentsCommitments 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 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 CommitmentsCommitments in excess of the aggregate 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 the aggregate Exposures of all Banks shall be zero at the time of such 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.Commitments in excess of the aggregate Exposures of all Banks..

Appears in 1 contract

Samples: Credit Agreement (New Beverly Holdings Inc)

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 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 CommitmentsCommitments in excess of the aggregate 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, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time time, if no Loans 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 CommitmentsCommitments in excess of the aggregate outstanding principal amount of the Loans. The Agent shall promptly notify each Bank of any such notice received by the Agent.

Appears in 1 contract

Samples: Credit Agreement (At&t Capital Corp /De/)

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 time, if no Loans or LC 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 integral multiple of $1,000,000, the aggregate amount of the CommitmentsCommitments in excess of the Aggregate Usage.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Freightways Inc)

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