Common use of Reduction of Commitment Clause in Contracts

Reduction of Commitment. The Borrower may permanently reduce the Commitment in whole, or in part, in an aggregate minimum amount of $5,000,000.00 and integral multiples of $1,000,000.00 in excess of that amount (unless the Commitment is reduced in whole), upon at least three (3) Business Day's written notice to the Lender, which notice shall specify the amount of any such reduction, and upon payment of a termination/reduction fee equal to the amount by which the Commitment is reduced multiplied by:

Appears in 1 contract

Samples: Credit Agreement (Sonic Automotive Inc)

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Reduction of Commitment. The Borrower may permanently reduce shall have the Commitment in whole, or in part, in an aggregate minimum amount of $5,000,000.00 right at any time and integral multiples of $1,000,000.00 in excess of that amount from time to time upon five (unless the Commitment is reduced in whole), upon at least three (35) Business Day's Days’ written notice to the LenderAdministrative Agent to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, which notice shall specify whereupon the amount Commitments of any such reduction, and upon payment of a termination/reduction fee equal to the amount by which the Commitment is reduced multiplied by:the

Appears in 1 contract

Samples: Revolving Credit Agreement (Telephone & Data Systems Inc /De/)

Reduction of Commitment. The Borrower may may, from time to time, on at least five (5) Business Days' prior written notice received by the Bank, permanently reduce the Commitment in wholeamount of the Commitment, or in partbut only upon repayment of the amount, if any, by which the aggregate unpaid principal amount of all outstanding Advances on the Loan exceeds the amount available for Advances thereon after giving effect to such reduction. Any such reduction shall be in an aggregate minimum amount of $5,000,000.00 and 50,000.00 or an integral multiples of $1,000,000.00 in excess of that amount (unless the Commitment is reduced in whole), upon at least three (3) Business Day's written notice to the Lender, which notice shall specify the amount of any such reduction, and upon payment of a termination/reduction fee equal to the amount by which the Commitment is reduced multiplied by:multiple thereof

Appears in 1 contract

Samples: Loan Agreement (Tower Tech Inc)

Reduction of Commitment. The Borrower may permanently reduce the Commitment in whole, or in part, in an aggregate minimum amount of $5,000,000.00 5,000,000 and integral multiples of $1,000,000.00 1,000,000 in excess of that amount (unless the Commitment is reduced in whole), upon at least three (3) Business Day's Days' written notice to the Lender, which notice shall specify the amount of any such reduction; provided, and upon payment of a termination/reduction fee equal to however, that the amount by which of the Commitment is may not be reduced multiplied by:below the aggregate principal amount of the outstanding

Appears in 1 contract

Samples: Credit Agreement (Sonic Automotive Inc)

Reduction of Commitment. The Any Borrower may permanently reduce the Commitment Commitment, in whole, whole or in part, part ratably among the Lenders in an aggregate minimum amount of $5,000,000.00 and integral multiples of $1,000,000.00 in excess of that amount (unless the Commitment is reduced in whole)2,000,000, upon at least three (3) five Business Day's ’s written notice to the LenderAdministrative Agent, which notice shall specify the amount of any such reduction, and upon payment of a termination/reduction fee equal to provided, however, that the amount by which of the Commitment is may not be reduced multiplied by:below the aggregate principal amount of the outstanding Advances.

Appears in 1 contract

Samples: Revolving Credit Agreement (Richardson Electronics LTD/De)

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Reduction of Commitment. The Any Borrower may permanently reduce the Commitment Commitment, in whole, or in part, part ratably among the Lenders in an aggregate minimum amount of $5,000,000.00 and integral multiples of $1,000,000.00 in excess of that amount (unless the Commitment is reduced in whole)1,000,000, upon at least three (3) five Business Day's Days’ written notice to the LenderAdministrative Agent, which notice shall specify the amount of any such reduction, and upon payment of a termination/reduction fee equal to provided, however, that the amount by which of the Commitment is may not be reduced multiplied by:below the aggregate principal amount of the outstanding Advances.

Appears in 1 contract

Samples: Revolving Credit Agreement (Richardson Electronics LTD/De)

Reduction of Commitment. The Borrower may permanently reduce reduce, without penalty or premium, the amount of the Commitment in whole, or in part, in an aggregate minimum amount of $5,000,000.00 and integral multiples of $1,000,000.00 in excess of that amount (unless the Commitment is reduced in whole)100,000.00, upon at least three (3) 10 Business Day's Days' written notice to the Lender, which notice shall specify but not below the then-outstanding amount of any such reduction, and upon payment of a termination/reduction fee equal to the amount by which the Commitment is reduced multiplied by:Loans.

Appears in 1 contract

Samples: Credit Agreement (Interface Systems Inc)

Reduction of Commitment. The Borrower may permanently reduce shall have the Commitment in whole, or in part, in an aggregate minimum amount of $5,000,000.00 right at any time and integral multiples of $1,000,000.00 in excess of that amount (unless the Commitment is reduced in whole), from time to time upon at least three (3) five Business Day's Days' prior written notice to the LenderAgent 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, which notice whereupon the Commitments of the Banks shall specify be reduced pro rata in accordance with their respective Commitment Percentages of the amount of any such reduction, and upon payment of a termination/reduction fee equal to the amount by which the Commitment is reduced multiplied by:specified in such

Appears in 1 contract

Samples: Revolving Credit Agreement (Crescent Real Estate Equities LTD Partnership)

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