Common use of Reduction of Commitments Clause in Contracts

Reduction of Commitments. The Borrower shall have the right, upon at least 7 Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; provided, however, that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple thereof.

Appears in 3 contracts

Samples: Revolving Credit Agreement (THQ Inc), Revolving Credit Agreement (Frontier Oil Corp /New/), Revolving Credit Agreement (THQ Inc)

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Reduction of Commitments. The Borrower shall have the right(a) At any time and from time to time, upon at least 7 five (5) Business Days' prior written notice to the Agent, to the Borrower may terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; providedTotal Unutilized Revolving Credit/Term Commitment, however, provided that each any such partial reduction shall be in the an aggregate amount of not less than $5,000,000 1,000,000 or an integral multiple multiples thereof. The amount of any termination or reduction made under this subsection (a) may not thereafter be reinstated.

Appears in 2 contracts

Samples: Loan Agreement (Renal Treatment Centers Inc /De/), Loan Agreement (Renal Treatment Centers Inc /De/)

Reduction of Commitments. The Borrower shall have the right, upon at least 7 three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the LendersUnused Revolving Credit Commitments; provided, however, provided that each partial reduction shall be in the minimum aggregate amount of $5,000,000 or 10,000,000 and in an integral multiple thereofof $5,000,000. Any termination or reduction of any of the Commitments shall be permanent.

Appears in 2 contracts

Samples: Credit Agreement (Halliburton Co), Credit Agreement (Halliburton Co)

Reduction of Commitments. The Borrower shall have the right, upon at least 7 three Business Days' ’ notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the LendersUnused Revolving Credit Commitments; provided, however, provided that each partial reduction shall be in the minimum aggregate amount of $5,000,000 or 10,000,000 and in an integral multiple thereofof $5,000,000. Any termination or reduction of any of the Commitments shall be permanent.

Appears in 1 contract

Samples: Credit Agreement (Halliburton Co)

Reduction of Commitments. The Borrower shall have the right, upon at least 7 three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the LendersUnused Commitments; provided, however, provided that each partial reduction shall be in the minimum aggregate amount of $5,000,000 or 10,000,000 and in an integral multiple thereofof $1,000,000. Any termination or reduction of any of the Commitments shall be permanent.

Appears in 1 contract

Samples: Conformed Copy (Halliburton Co)

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Reduction of Commitments. The Borrower shall have the right(a) At any time and from time to time, upon at least 7 five (5) Business Days' prior written notice to the Administrative Agent, to the Borrower may terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; providedTotal Unutilized Revolving Credit Commitment, however, provided that each any such partial reduction shall be in the an aggregate amount of not less than $5,000,000 1,000,000 or an integral multiple of $1,000,000 if in excess thereof. The amount of any termination or reduction made under this subsection (a) may not thereafter be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Ipayment Inc)

Reduction of Commitments. The Borrower shall have the right, upon at least 7 seven (7) Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the LendersBanks; provided, however, that each partial reduction shall be in the aggregate amount of five million dollars ($5,000,000 5,000,000) or an integral multiple thereof.. Section 2.2

Appears in 1 contract

Samples: Revolving Credit and Letter of Credit Agreement (Wainoco Oil Corp)

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