Reduction and Termination of Commitment. The Borrowers shall have the right at any time and from time to time upon five Business Days' prior written notice to the Agent to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment be reduced to an amount less than $50,000,000.00) or to terminate entirely the unborrowed portion of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan); provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the Outstanding Loans would exceed the Commitments of the Banks as so terminated or reduced. In the event that as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitment or Swing Loan Commitment may be reinstated.
Reduction and Termination of Commitment a. Upon any purchase by Thermo of Purchased Shares pursuant to this Agreement, the Commitment shall automatically be reduced on a dollar for dollar basis by the amount paid by Thermo for such Purchased Shares.
b. The Commitment shall automatically be reduced to zero at the end of the Commitment Period.
c. At such time as the Commitment has been terminated or reduced to zero in accordance with the terms hereof, the Administrative Agent shall assign to Thermo all of the Administrative Agent's rights under the Escrow Agreement (as defined below), except for any rights to indemnity or reimbursement thereunder.
Reduction and Termination of Commitment. Borrower shall have the right --------------------------------------- at any time and from time to time, upon three (3) Business Days' prior written notice to Bank, to reduce the amount of the Commitment in whole or in part without penalty or premium, provided that on the effective date of such reduction, Borrower shall make a prepayment of the Loan in an amount, if any, by which the aggregate outstanding principal balance of the Loan exceeds the amount of the Commitment as then so reduced, together with accrued interest on the amount so prepaid; provided that in the event of such a prepayment of a Portion of the Loan upon which interest is determined by reference to the Adjusted Libor Rate prior to the end of the applicable Interest Period, Borrower shall reimburse Bank for any costs and expenses incurred by Bank on account of such prepayment, including but not limited to funding costs. Bank shall have the right to terminate the Commitment at any time, in its discretion and upon notice to Borrower, upon the occurrence of any Event of Default hereunder. Any termination or reduction of the Commitment shall be permanent, and the Commitment cannot thereafter be restored or increased without the written consent of Bank.
Reduction and Termination of Commitment. 4.6.1 Any part of the Commitment undrawn at the end of the Drawdown Period shall thereupon be automatically cancelled.
4.6.2 The Commitment shall be permanently reduced on each Reduction Date by the sum of Eleven million Dollars ($11,000,000) so that by the final Reduction Date the Commitment shall have been reduced by ninety nine million Dollars ($99,000,000) (for the purposes of this clause 4.6, the "Reduction Amount").
4.6.3 The Borrower shall upon three (3) Banking Days notice to the Agent be entitled to permanently reduce or terminate any undrawn portion of the Facility (being a minimum of five million Dollars ($5,000,000) or any larger sum which is an integral multiple of five million Dollars ($5,000,000)) without penalty. Each such reduction shall be made to the Commitment in inverse order commencing with that part of the Commitment which is not reduced by the Reduction Amount.
Reduction and Termination of Commitment. The Borrower shall have the right at any time and from time to time upon five Business Days' prior written notice to the Agent to reduce by $1,000,000 or an integral multiple of $100,000 in excess thereof or to terminate entirely the unborrowed portion of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a Eurodollar Rate Loan); provided, however that the Commitments shall not be reduced below the amount of the LC Exposure. Promptly after receiving any notice of the Borrower delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitment may be reinstated. At any time that any amount is available to be drawn under the Letter of Credit or may be reinstated thereunder, the Letter of Credit Commitment may be reduced only as provided in Paragraph 3(b) of the Letter of Credit, and in the event of any reduction in the Letter of Credit Commitment as provided herein, the Revolver Commitment shall be increased on a dollar for dollar basis. In the event that the Letter of Credit Commitment shall be reduced and the Revolver Commitment increased as provided in the preceding sentence, the Revolver Commitment Percentages and Letter of Credit Commitment Percentages shall be adjusted in the following manner: (i) Letter of Credit Issuer's Letter of Credit Commitment Percentage shall equal fifty percent (50%); (ii) the sum of each Bank's Letter of Credit Commitment and Revolver Commitment shall continue to equal such Bank's Commitment; (iii) the Revolver Commitment and the Letter of Credit Commitment, respectively, shall be equal for all Banks that have equal Commitment Percentages; and (iv) Agent in the exercise of its good faith judgment, while attempting to maintain the relative proportions of the Banks existing prior to such reallocation, shall allocate the increase in the Revolver Commitment, and, subject to clause (i) above, the decrease in the Letter of Credit Commitment among t...
Reduction and Termination of Commitment. (a) The Company shall have the right at any time and from time to time, upon three (3) Business Days' prior notice to the Bank, to reduce the Commitment by an amount not less than $25,000; provided that the Commitment may not be reduced to an amount less than the aggregate principal amount of the Loans then outstanding. The Company may at any time on like notice terminate the Commitment upon payment in full of all Loans and all other obligations hereunder. No portion of the Commitment which is reduced or terminated pursuant to this Section may be reinstated.
(b) The Commitment shall be reduced concurrently with the receipt by the Company or any Subsidiary of any net cash proceeds from any long-term debt financing in excess of $25,000,000.
(c) On October 30, 1998, the Commitment shall be reduced by an amount equal to the excess (if any) of the amount of the Commitment over $30,000,000."
Reduction and Termination of Commitment. GRC shall have the right at any time and from time to time upon three Business Days' prior notice to the Facility Agent and S&P to (a) terminate the Revolving Commitment in whole or (b) permanently reduce in part the unused portion of the Revolving Commitment in a minimum amount of $5,000,000 and increments of $1,000,000.
Reduction and Termination of Commitment. (a) The Borrower may irrevocably elect to terminate the Commitment at any time prior to the Commitment Termination Date upon not less than three (3) Business Days’ prior written notice to the Bank whereupon the Available Commitment shall permanently be reduced to $0. In connection with any such termination, the Borrower shall pay the Bank all accrued and unpaid Commitment Fees.
(b) The Borrower may irrevocably elect to reduce the Available Commitment by a principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof at any time prior to the Commitment Termination Date upon not less than three (3) Business Days’ prior written notice to the Bank whereupon the Available Commitment shall be permanently reduced by the amount requested.
Reduction and Termination of Commitment. The Borrower shall have the right at any time and from time to time upon five Business Days' prior written notice to the Agent to reduce by $10,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in
Reduction and Termination of Commitment. (a) The Borrower shall have the right at any time and from time to time, upon three (3) Business Days' prior written notice to Agent, to reduce the Commitment in whole or in part without penalty or premium, provided that: (i) any such reduction shall be in an aggregate amount not less than Five Million Dollars ($5,000,000); and (ii) on the effective date of such reduction the Borrower shall make a prepayment of the Outstanding Credit in an amount, if any, by which the Outstanding Credit exceeds the amount of the Commitment as then so reduced, together with accrued interest on the amount so prepaid. All reductions in the Commitment shall reduce each Bank's share of the Commitment proportionally.
(b) Any termination or reduction of the Commitment pursuant to subsection 2.13(a) shall be permanent, and the Commitment cannot thereafter be restored or increased without the written consent of all Banks.
