Common use of Reduction and Termination of the Commitments Clause in Contracts

Reduction and Termination of the Commitments. Upon at least three Business Days’ prior notice to the Administrative Agent, the Borrower may terminate in whole or reduce in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be in an aggregate amount of not less than $1,000,000 or an integral multiple of $1,000,000 in excess thereof. In addition, all outstanding Revolving Credit Commitments shall terminate on the applicable Revolving Credit Termination Date.

Appears in 6 contracts

Samples: Credit Agreement (Amc Entertainment Holdings, Inc.), Credit Agreement (Amc Entertainment Holdings, Inc.), Credit Agreement (Amc Entertainment Inc)

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Reduction and Termination of the Commitments. Upon The Borrower may, upon at least three Business Days' prior notice to the Administrative Agent, the Borrower may terminate in whole or reduce ratably in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be in an the aggregate amount of not less than $1,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. In addition, all outstanding Revolving Credit Commitments shall terminate on the applicable Revolving Credit Termination Date.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Felcor/Lax Holdings Lp), Revolving Credit Agreement (Felcor Suite Hotels Inc), Revolving Credit Agreement (Felcor Suite Hotels Inc)

Reduction and Termination of the Commitments. Upon The Borrower may, upon at least three Business Days’ prior notice to the Administrative Agent, the Borrower may permanently terminate in whole or permanently reduce in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be in an aggregate amount of not less than $1,000,000 €5,000,000 or an integral multiple of $1,000,000 €500,000 in excess thereof. In addition, all outstanding Revolving Credit Commitments thereof and any mandatory prepayment resulting from such reduction shall terminate on the applicable Revolving Credit Termination Datehave been made.

Appears in 2 contracts

Samples: Credit Agreement (FMC Corp), Credit Agreement (FMC Corp)

Reduction and Termination of the Commitments. Upon The Borrower may, upon at least three Business Days’ prior notice to the Administrative AgentAgent (which notice shall be irrevocable), the Borrower may permanently terminate in whole or permanently reduce in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be in an aggregate amount of not less than $1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. In addition, all outstanding Revolving Credit Commitments shall terminate on the applicable Revolving Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Amkor Technology Inc)

Reduction and Termination of the Commitments. Upon The Borrower may, upon at least three Business Days' prior notice to the Administrative Agent, the Borrower may terminate in whole or reduce in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be in an aggregate amount of not less than $1,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. In addition, all outstanding Revolving Credit Commitments Any undrawn Term Loan Commitment shall terminate on the applicable Revolving Credit Termination Effective Date.

Appears in 1 contract

Samples: Secured Debtor in Possession Credit Agreement (Friedmans Inc)

Reduction and Termination of the Commitments. Upon The Borrower may, upon at least three 5 Business Days’ prior notice to the Administrative Agent, the Borrower may terminate in whole or reduce in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be in an aggregate amount of not less than $1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof. In addition, all outstanding Revolving Credit Commitments shall terminate on the applicable Revolving Credit Scheduled Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Us Concrete Inc)

Reduction and Termination of the Commitments. Upon The Borrower may, upon at least three Business Days’ prior notice to the Administrative Agent, the Borrower may terminate in whole or reduce in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be in an aggregate amount of not less than $1,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. In addition, all outstanding Revolving Credit Commitments shall terminate on the applicable Revolving Credit Termination Date.

Appears in 1 contract

Samples: Revolving Credit Agreement (Boardwalk Pipeline Partners, LP)

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Reduction and Termination of the Commitments. Upon The Borrower may, upon at least three Business Days’ prior notice to the Administrative Agent, the Borrower may terminate in whole or reduce in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be in an aggregate amount of not less than $1,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. In additionSubject to Section 2.4(m)(Letters of Credit), all outstanding Revolving Credit Commitments shall terminate on the applicable Revolving Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Orbital Sciences Corp /De/)

Reduction and Termination of the Commitments. Upon The Borrower may, upon at least three five Business Days’ prior notice to the Administrative Revolving Facility Agent, the Borrower may terminate in whole or reduce in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be in an the aggregate amount of not less than $1,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. In additionthereof and, all outstanding in the case of any reduction of the Revolving Credit Commitments Commitments, the requirements of Section 2.9(d) shall terminate on the applicable Revolving Credit Termination Datehave been satisfied.

Appears in 1 contract

Samples: Credit Agreement (Warnaco Group Inc /De/)

Reduction and Termination of the Commitments. Upon at least three Business Days’ prior notice to the Administrative Agent, the Borrower Company may terminate in whole or reduce in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be in an aggregate amount of not less than $1,000,000 or an integral multiple of $1,000,000 in excess thereof. In addition, all outstanding Revolving Credit Commitments shall terminate on the applicable Revolving Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Marquee Holdings Inc.)

Reduction and Termination of the Commitments. Upon The Borrower may, upon at least three Business Days’ prior notice to the Administrative Agent, the Borrower may terminate in whole or reduce in part ratably the unused portions of the respective Revolving Credit Commitments of the Revolving Credit Lenders; provided, however, that each partial reduction shall be (a) in an aggregate amount of not less than $1,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereofthereof and (b) permanent and irrevocable. In addition, all outstanding Revolving Credit Commitments shall terminate on the applicable Revolving Credit Termination Date.

Appears in 1 contract

Samples: Revolving Credit Agreement (Boardwalk Pipeline Partners, LP)

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