Reduction of Aggregate Commitment. The Borrower shall have the right, upon at least three (3) Business Days’ prior notice to the Agent, to terminate in whole or reduce in part the unused portion of the Aggregate Commitment, provided that each partial reduction shall be in the amount of at least Two Million Dollars ($2,000,000), and provided further that no reduction shall be permitted if, after giving effect thereto, and to any prepayment made therewith, the sum of (i) the outstanding and unpaid principal amount of the Loans and (ii) the Facility Letter of Credit Obligations shall exceed the Aggregate Commitment. Each reduction in part of the unused portion of each Lender’s Commitment shall be made in the proportion that such Commitment bears to the total amount of the Aggregate Commitment. Any Commitment, once reduced or terminated, may not be reinstated (except as otherwise provided in Section 8.01(v)) and may not be increased (except in accordance with Section 2.02.2).
Reduction of Aggregate Commitment. Pursuant to Section 2.5.2 of the Credit Agreement, the Aggregate Commitment is hereby reduced from $550,000,000 to $200,000,000, allocated to each Lender’s Commitment ratably. The amounts of the reduced Commitments of the Lenders are set forth in Schedule I hereto. The text of Section 2.5.2 is numbered “(i)” and immediately thereafter, a new subsection (ii) is inserted to read as follows:
Reduction of Aggregate Commitment. The Company may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $10,000,000, upon at least five Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure.
Reduction of Aggregate Commitment. At the request of the Borrower, the amount of the Total Revolving Credit Commitment is hereby reduced to $2,250,000,000 and such reduction shall be allocated to each Lender’s Revolving Credit Commitment ratably in accordance with its Commitment Ratio. The Borrower represents, warrants and certifies that this reduction in the Total Revolving Credit Commitment is in accordance with Section 2.14 of the Credit Agreement.
Reduction of Aggregate Commitment. Provided
(a) no Draw Request is pending that would result in the outstanding principal balance of the Loan exceeding the Aggregate Commitment, and (b) that immediately after such reduction the outstanding principal balance of the Loan is less than or equal to the Aggregate Commitment, (which for the purposes of this Section shall include any amounts requested under a pending Draw Request), Borrower may (in its sole and absolute discretion) permanently reduce the available Aggregate Commitment of the Loan (without the payment of any prepayment fee, other than break funding, including any sums and any charges relating to early termination of any Swap Contracts), by giving Administrative Agent irrevocable notice of such reduction at least two (2) Business Days prior to the indicated effective date of the reduction. Each such reduction shall (a) be in a minimum amount of $1,000,000 (and in increments of $500,000 thereafter), (b) in no event reduce the Aggregate Commitment below $100,000,000 (unless the entire Loan facility is being paid off), and (c) permanently reduce the maximum Aggregate Commitment of the Loan available to Borrower (with appropriate adjustments to the Non-Revolving Portion and the Revolving Portion of the Loan). SMRH:4847-1441-2233.18 -92-
Reduction of Aggregate Commitment. Upon the satisfaction of the conditions precedent set forth in Section 3 hereof, the Aggregate Commitment shall, pursuant to notice given by the Borrower to the Administrative Agent pursuant to Section 2.5 of the Credit Agreement, which notice is hereby acknowledged by the Administrative Agent, be permanently reduced to $300,000,000. By their execution of this Amendment, the Required Lenders waive the requirement set forth in Section 2.5 of the Credit Agreement that such notice be given five Business Days prior to the effective date of such reduction in the Aggregate Commitment. As a result of the ratable application of such reduction to each Lender, the Administrative Agent hereby notifies each Lender that its new Commitment is as set forth below: LENDER AMOUNT OF COMMITMENT BEFORE REDUCTION AMOUNT OF COMMITMENT AFTER REDUCTION Bank One, NA $ 52,500,000 $ 39,375,000 Xxxxxx Xxxxxxx Financing, Inc. $ 52,500,000 $ 39,375,000 KeyBank National Association $ 50,000,000 $ 37,500,000 Royal Bank of Canada $ 50,000,000 $ 37,500,000 Sumitomo Mitsui Banking Corporation $ 50,000,000 $ 37,500,000 Citicorp USA, Inc. $ 40,000,000 $ 30,000,000 U.S. Bank National Association $ 30,000,000 $ 22,500,000 Xxxxxx Brothers Bank, FSB $ 25,000,000 $ 18,750,000 UFJ Bank Limited, New York Branch $ 25,000,000 $ 18,750,000 Union Bank of California $ 15,000,000 $ 11,250,000 Mizuho Corporate Bank, Ltd. $ 10,000,000 $ 7,500,000
Reduction of Aggregate Commitment. Section 2.5 of the Credit Agreement is hereby amended by adding the following clause (d) at the end:
Reduction of Aggregate Commitment. The Borrowers may, upon thirty (30) days' irrevocable written notice to the Administrative Agent, terminate in whole or permanently reduce in part the Aggregate Commitment without premium or penalty, provided, however, that, after giving effect to such reduction, the Aggregate Commitment equals or exceeds the amount of the Loans plus the Letter of Credit Obligations then outstanding. Any such partial reduction of the Aggregate Commitment shall be in a minimum amount of $5,000,000, or integral multiples of $1,000,000 in excess of that amount, and shall reduce the Commitment of each Lender proportionately in accordance with its Pro Rata Share.
Reduction of Aggregate Commitment. To reflect the agreement of the parties hereto to reduce the Aggregate Commitment and to create a sublimit for the aggregate amount of Loans which may be outstanding under the Credit Agreement at any date, effective as of the Effective Date (as defined in Paragraph 11 below):
(a) The Aggregate Commitment shall automatically be reduced to $18,000,000, and the Aggregate Commitment and each Lender's Commitment shall be as set forth on the replacement commitment schedule attached hereto as Exhibit A.
(b) Section 2.1 of the Credit Agreement shall be amended to read in its entirety as follows:
Reduction of Aggregate Commitment. The Aggregate Commitment is reduced to $300,000,000 and, accordingly, Schedule 2.01 is replaced by Schedule 2.01 hereto.
