Common use of Optional Termination or Reduction Clause in Contracts

Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and integral multiples of $1,000,000 in excess thereof and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Advances in accordance with Section 2.10, the sum of the aggregate Letter of Credit Exposures and the aggregate Advances would exceed the aggregate Commitments.

Appears in 3 contracts

Samples: Credit Agreement (Spectra Energy Corp.), Credit Agreement (Spectra Energy Corp.), Credit Agreement (Spectra Energy Capital, LLC)

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Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and an integral multiples multiple of $1,000,000 in excess thereof 5,000,000 and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Advances in accordance with Section 2.10, the sum of the aggregate Letter of Credit Exposures and the aggregate Advances would exceed the aggregate Commitmentsless than $10,000,000.

Appears in 3 contracts

Samples: Credit Agreement (IHS Markit Ltd.), Credit Agreement (IHS Inc.), Credit Agreement (IHS Inc.)

Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the then unused Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and integral multiples of $1,000,000 in excess thereof and (ii) any partial reduction shall apply to reduce proportionately and permanently the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment Commitment of the Advances in accordance with Section 2.10, the sum of the aggregate Letter of Credit Exposures and the aggregate Advances would exceed the aggregate Commitmentseach Lender.

Appears in 3 contracts

Samples: Credit Agreement (Spectra Energy Partners, LP), Credit Agreement (Spectra Energy Corp.), Credit Agreement (Spectra Energy Corp.)

Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and an integral multiples multiple of $1,000,000 in excess thereof and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Advances in accordance with Section 2.10, the sum of the aggregate Letter of Credit Exposures and the aggregate Advances would exceed the aggregate Commitmentsless than $1,000,000.

Appears in 1 contract

Samples: Credit Agreement (IHS Markit Ltd.)

Optional Termination or Reduction. The Borrower Borrowers may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and an integral multiples multiple of $1,000,000 in excess thereof 5,000,000 and (ii) the Borrower shall not terminate or reduce the Commitments ifless than $10,000,000. CREDIT AGREEMENT, after giving effect to any concurrent prepayment of the Advances in accordance with Section 2.10, the sum of the aggregate Letter of Credit Exposures and the aggregate Advances would exceed the aggregate Commitments.Page 27 007751-0138-14324-Active.18411811 #86414519v6

Appears in 1 contract

Samples: Credit Agreement (IHS Inc.)

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Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitmentsthen unused Commitments under any Term Loan Facility; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 5,000,000 and integral multiples of $1,000,000 in excess thereof and (ii) any partial reduction shall apply to reduce proportionately and permanently the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment Commitment of the Advances in accordance with Section 2.10, the sum of the aggregate Letter of Credit Exposures and the aggregate Advances would exceed the aggregate Commitmentseach Lender under such Term Loan Facility.

Appears in 1 contract

Samples: Subordinated Delayed Draw Credit Agreement (Gencorp Inc)

Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and integral multiples of $1,000,000 in excess thereof and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Revolving Advances in accordance with Section 2.10, the sum aggregate outstanding principal amount of the aggregate Letter of Credit Exposures and the aggregate Revolving Advances would exceed the aggregate Commitments.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Spectra Energy Corp.)

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