Reduction of Commitment Sample Clauses
Reduction of Commitment. On the last Trading Day of each Pricing Period, the Investor’s Total Commitment under this Agreement automatically (and without the need for any amendment to this Agreement) shall be reduced, on a dollar-for-dollar basis, by the total amount of the Fixed Request Amount and the Optional Amount Dollar Amount, if any, for such Pricing Period paid to the Company at the Settlement Date.
Reduction of Commitment. On each Settlement Date, the Investor’s Total Commitment under this Agreement automatically shall be reduced, on a dollar-for-dollar basis, by the total Draw Down Amount paid to the Company on such Settlement Date.
Reduction of Commitment. The Borrower shall have the right at any time and from time to time upon five (5) Business Days’ prior written notice to Agent to permanently and ratably reduce, in whole multiples of $1,000,000 of principal, or terminate the Commitments without penalty or premium, except as hereinafter set forth, provided, that any such reduction or termination shall be accompanied by (i) the payment in full of any Commitment Fee and other fees then accrued on the amount of such reduction or termination and (ii) prepayment of the Notes (together with cash collateralization, if necessary, of the Letters of Credit), together with the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 4.6 [Additional Compensation in Certain Circumstances]), to the extent that the aggregate amount thereof then outstanding exceeds the Commitments as so reduced or terminated. From the effective date of any such reduction or termination, the obligations of the Borrower to pay the Commitment Fee shall correspondingly be reduced or cease, as the case may be.
Reduction of Commitment. The Borrower shall have the right, upon at least ten (10) Business Days' notice to the Agent, to terminate in whole or reduce in part the unused portion of the Commitment, provided that each partial reduction shall be in the amount of at least Three Million Dollars ($3,000,000), and provided further that no reduction shall be permitted if, after giving effect thereto, and to any prepayment made therewith, the outstanding and unpaid principal amount of the Loans shall exceed the Commitment. Any reduction in part of the unused portion of the Commitments shall be made in the proportion that each Bank's Commitment bears to the total amount of all Bank's Commitments. The Commitments, once reduced or terminated, may not be reinstated. In the event of (a) the occurrence of an Event of Default under Section 8.01 hereof, in that the Borrower fails to pay interest on any Note, and (b) a Bank is unwilling to vote to waive such Event of Default (the "Non-Consenting Bank"), during the continuance of such Event of Default, and (c) if the Majority Banks do not choose to either (i) declare the Banks' obligations to make Loans to be terminated, or (ii) declare the outstanding Notes to be due and payable, then the Non-Consenting Bank may, after five (5) Business Days notice to the Agent and the other Banks, limit its Commitment to such Principal Amount as is then owed to said Non-Consenting Bank by Borrower; provided, however, that said five (5) Business Days' notice to the Agent and the other Banks shall not be a condition precedent to the limitation by the Non-Consenting Bank of its Commitment as aforesaid if it has already given said notice but Borrower requests a Revolving Credit Loan after said notice has been given but prior to the expiration of said five (5) days. The Facility Amount shall be reduced by the difference between the original Commitment of the Non-Consenting Bank and the revised Commitment of the Non-Consenting Bank(s). If, and at such time as Borrower cures said Event of Default, the Non-Consenting Bank shall increase its Commitment to its original Commitment and shall make such payments to those Banks which were willing to waive such Event of Default (the "Consenting Banks") so that the positions of all Banks hereunder shall be restored and the Facility Amount shall be increased to the original Facility Amount as if said Event of Default had not occurred. In the event a Non-Consenting Bank chooses to reduce its Commitment as aforesaid, the reduced Comm...
Reduction of Commitment. The Borrower shall have the right, upon at least five (5) Business Days' notice to the Bank, to terminate in whole or reduce in part the unused portion of the Commitment, provided that each partial reduction shall be in the amount of not less than One Million and 00/100 Dollars ($1,000,000.00). The Commitment, once reduced or terminated, may not be reinstated.
Reduction 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 $5,000,000 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 reduction to be without penalty (unless such reduction requires repayment of a Eurodollar Rate Loan). 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.
Reduction of Commitment. The Borrowers shall have the right at any time and from time to time upon five (5) Business Days' prior written notice to the Agent to permanently reduce, in whole multiples of $5,000,000 of principal, or terminate the Revolving Credit Commitments without penalty or premium, except as hereinafter set forth, provided that any such reduction or termination shall be accompanied by (a) the payment in full of any Commitment Fee then accrued on the amount of such reduction or termination and (b) prepayment of the Revolving Credit Notes, together with the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 5.6 hereof), to the extent that the Dollar Equivalent Revolving Facility Usage then outstanding exceeds the Revolving Credit Commitments as so reduced or terminated. From the effective date of any such reduction or termination the obligations of Borrower to pay the Commitment Fee pursuant to Section 2.3 shall correspondingly be reduced or cease.
Reduction of Commitment. Borrower shall have the right, at any time and from time to time, without penalty or charge, upon at least 5 Business Days prior written notice voluntarily to reduce or terminate permanently and irrevocably, in aggregate principal amounts in an integral multiple of $1,000,000 but not less than $5,000,000 (unless all of the unused Commitment is being terminated), all or a portion of the unused Commitment. Borrower shall pay to the Administrative Agent (for the account of each Bank, pro rata according to that Bank’s Pro Rata Share) on the date of such termination all unpaid commitment fees which have accrued to such date in respect of the terminated portion of the Commitment.
Reduction of Commitment. Upon the making of any mandatory prepayment under this Section 2.07 (other than in connection with an optional prepayment of an Enstar Partnership Loan), the Commitment of each Bank shall automatically be reduced by an amount equal to such Bank's ratable share of the aggregate of principal repaid, effective as of the earlier of the date that such prepayment is made or the date by which such 28 80 prepayment is due and payable hereunder. On January 31, 2002, the Commitment of each Bank shall automatically be reduced by an amount equal to such Bank's ratable share of $5,000,000. All accrued commitment fees to, but not including the effective date of any reduction or termination of Commitments, shall be paid on the effective date of such reduction or termination.
Reduction of Commitment. 30 2.05. Prepayments.......................................................................31 2.06. Repayment.........................................................................33 2.07. Interest..........................................................................35 2.08.