Reduction and Termination. (i) The Total Revolving Commitment and the Total Term Commitment shall be automatically reduced to zero at 5:00 p.m. (New York City time) on the last day of the Commitment Period.
(ii) From and after the date on which the Reinvestment Period ends, the Borrower shall have the right at any time to reduce the Total Revolving Commitment or the Total Term Commitment by an amount specified by the Borrower (such amount, the “Commitment Reduction Amount”) upon not less than two Business Days’ prior notice (in substantially the form as set out in Exhibit L) to the Revolving Lenders or the Term Lenders, as applicable, the applicable Rating Agency and the Administrative Agent, which notice shall specify the effective date of such reduction, and on such effective date the Total Revolving Commitment or the Total Term Commitment shall be reduced by the Commitment Reduction Amount; provided that the Borrower shall only have the right to terminate the Revolving Commitments or the Total Term Commitments if all amounts in respect of the Revolving Loans or Term Loans, as applicable, and all other Obligations with respect thereto due under this Agreement and the other Loan Documents are satisfied in full, including without limitation all principal, interest, Commitment Fees and Administrative Expenses. Such notice of reduction (1) shall be effective only upon receipt by the Administrative Agent, (2) shall permanently reduce (and, in the case of a reduction in full, shall terminate) the Revolving Commitments or Term Commitments of each Revolving Lender or Term Lender on the date specified in such notice and (3) shall specify the Commitment Reduction Amount; provided that no such reduction shall reduce the Total Revolving Commitment or Total Term Commitment below the aggregate principal amount of the Revolving Loans or Term Loans, as applicable, at such time.
(iii) Prior to the date on which the Non-Call Period ends, the Borrower shall have the right to prepay the Term Loans in whole or in part, upon payment of the Make-Whole Fee. From and after the date on which the Non-Call Period ends, the Borrower shall have the right to prepay the Term Loans in whole or in part without penalty. Notice of such prepayment shall be delivered to the Administrative Agent at least ten (10) Business Days prior to the related Prepayment Date.
(iv) The Total Revolving Commitment and the Total Term Commitment (and the Revolving Commitment or Term Commitment of each Lender), once terminated or reduce...
Reduction and Termination. (a) Subject to the terms and provisions set forth in the Fee Letter, the Stated Amount of the Letter of Credit shall be reduced from time to time or permanently terminated, as provided herein, as requested by the City on the date specified in the certificate delivered by the Issuing and Paying Agent to the Bank, requesting such reduction or termination, provided that (i) each such reduction shall be in an amount equal to at least $1,000,000 and integral multiples of $1,000,000 in excess thereof, (ii) the Stated Amount of the Letter of Credit shall not be reduced to an amount less than the aggregate principal amount of the then Outstanding Covered Notes and interest due thereon at maturity, if any, and (iii) any reduction or termination in the Stated Amount of a Letter of Credit shall not be effective until the Bank, has received from the Issuing and Paying Agent a notice in the form attached to the Letter of Credit as Annex B reflecting such reduction or termination.
(b) The City hereby agrees to pay the Termination Fee and/or the Reduction Fee set forth in the Fee Letter, as applicable.
Reduction and Termination. (a) Subject to the provisions of Section 2.6(b) hereof, the Available Commitment shall be reduced from time to time as requested by the Authority within three (3) days of the Authority’s written notice to the Lender requesting such reduction in the form of Exhibit E hereto; provided, that each such reduction amount shall be in an amount equal to $1,000,000 or an integral multiple thereof.
(b) Subject to the provisions of Section 2.6(b) hereof, the Authority may at any time and at its sole option terminate the Commitment upon three (3) Business Days’ prior written notice to the Lender. As a condition to any such termination, the Authority shall pay or cause to be paid to the Lender all Obligations owed to the Lender (other than Term Loan which shall be payable pursuant to the terms of Section 4.5 hereof).
Reduction and Termination. (i) The Total Commitment (and the Commitment of each Lender) shall be automatically reduced to zero at the close of business (New York City time) on the last day of the Commitment Period.
(ii) Prior to the end of the Commitment Period, the Borrower shall have the right at any time (x) to terminate in their entirety the Total Commitment or (y) to permanently reduce all or a portion of the unfunded amount of the Commitments, in each case upon not less than two Business Days' prior notice to the Lenders, DBRS and the Administrative Agent of any such termination or reduction, which notice shall specify the effective date of such termination or reduction; provided, in the case of clause (x) above, that all amounts due under this Agreement and the other Loan Documents are satisfied in full, including without limitation all principal, interest, Commitment Fees and Administrative Expenses. Such notice of termination or reduction shall be effective only upon receipt and shall terminate or permanently reduce (as applicable) the Commitments of each Lender on the date specified in such notice and, in the case of clause (y) above, shall specify the amount of any such reduction; provided that no such reduction will reduce the Total Commitment below the aggregate principal amount of the Loans at such time.
(iii) The Total Commitment (and the Commitment of each Lender) once terminated or reduced may not be reinstated. Each reduction of the Total Commitment pursuant to this Section 2.7 shall be applied ratably among the Lenders in accordance with their respective Commitments.
(iv) The Borrower will not terminate or reduce the Total Commitment if, after giving effect to such reduction or termination, it would result in a Commitment Shortfall.
Reduction and Termination. Section 5.01. Termination for Convenience by the Department or Provider Agency. The Department or Provider Agency may Terminate this Contract upon 60 Days written advance Notice to the other party for any reason whatsoever. The parties expressly recognize and agree that the Department's ability to honor the terms and conditions of this Contract is contingent upon receipt of federal funds and/or appropriations of the State legislature. If during the term of this Contract, therefore, the federal and/or the State government reduces its allocation to the Department, the Department reserves the right, upon Notice to the Provider Agency, to reduce or Terminate the Contract
Reduction and Termination. Section 12.06.
Reduction and Termination. (a) Subject to the previsions of Section 2.6(b) hereof, the Available Commitment shall be reduced from time to time as requested by the Authority within three (3) days of the Authority’s written notice to the Administrative Agent requesting such reduction in the form of Exhibit E hereto; previded, that each such reduction amount shall be in an amount equal to Si,000,000 or an integral multiple thereof.
Reduction and Termination. (a) Subject to the provisions of Section 2.06(b) hereof, the Available Commitment shall be reduced from time to time as requested by the Authority within three (3) days of the Authority’s written notice to the Lender requesting such reduction in the form of Exhibit E hereto; provided, that (i) each such reduction amount shall be in an amount equal to $1,000,000 or an integral multiple thereof, and (ii) any reduction in the Available Commitment shall not be effective until the Lender delivers to the Authority a notice in the form attached hereto as Exhibit F reflecting such reduction.
(b) Subject to the provisions of Section 2.06(b) hereof, the Authority may at any time and at its sole option terminate the Commitment upon three (3) Business Days’ prior written notice to the Lender. As a condition to any such termination, the Authority shall pay or cause to be paid all Obligations owed to the Lender (other than Term Loans which shall be payable pursuant to the terms of Section 4.05 hereof).
Reduction and Termination. (a) The Authority may elect to permanently reduce the Commitment Amount from time to time prior to the Commitment Expiration Date then in effect by delivery to the Bank of a Notice of Termination or Reduction in the form of Exhibit E hereto which Notice of Termination or Reduction shall state the effective date of such termination or reduction, as applicable; provided, further, that (i) each such reduction amount shall be in an amount equal to $1,000,000 or an integral multiple thereof and (ii) following such reduction, the Commitment Amount shall not be less than the aggregate principal amount of all Revolving Loans outstanding on the date of such reduction.
(b) Notwithstanding any provision of this Agreement to the contrary, the Authority shall not terminate or replace this Agreement, the Commitment, the Commitment Amount and the Available Commitment prior to the Commitment Expiration Date except upon (i) the payment to the Bank of all fees, expenses and other amounts payable hereunder and under the Fee Letter,
Reduction and Termination. (a) The Available Amount of the Letter of Credit may be reduced by the Trustee upon submission to Xxxxxx of a certificate in the form of Exhibit D or G to the Letter of Credit, designating the date (which shall be a Business Day) of such reduction and the amount of such reduction (which shall be, with respect to the principal component of the Letter of Credit, in an integral multiple of $100,000 or multiples of $5,000 in excess thereof).
(b) If the Trustee shall partially reduce the Available Amount pursuant to paragraph (a) above, Xxxxxx shall then have the right to require the Trustee to simultaneously surrender the outstanding Letter of Credit to Xxxxxx on the effective date of such partial reduction of the Available Amount and to accept on such date, in substitution for the then outstanding Letter of Credit, a substitute irrevocable transferable letter of credit, dated such date, for an amount equal to the amount to which the Available Amount shall have been so reduced, but otherwise having terms identical to the then outstanding Letter of Credit. Alternatively, Xxxxxx in its sole discretion may elect to deliver to the Trustee a Notice of Amendment to the Letter of Credit in the form of Exhibit H to the Letter of Credit, dated the effective date of such partial reduction of the Available Amount of the Letter of Credit and stating the amount to which the Available Amount has been reduced.
