Reduction of Credit Facility Sample Clauses

Reduction of Credit Facility. Voluntary prepayments by the Borrower of the Advance under the Credit Facility shall permanently reduce the Facility Limit and the Facility Commitment, and such amounts cannot be re-borrowed.

Reduction of Credit Facility. The Borrower may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce the amount of the Credit Facility in whole or in part to the extent it is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. The amount of the Credit Facility will be permanently reduced with respect to the amount of the repayment made in accordance with Section 9.1. Any repayment or prepayment of credit outstanding under the Credit Facility (other than as set forth above) shall not cause a reduction in the amount of the Credit Facility. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the Credit Facility. Upon any reduction of the amount of the Credit Facility, the Individual Commitment of each Lender with respect to the Credit Facility shall thereupon be reduced by an amount equal to such Lender’s Pro Rata Share of such reduction of the amount of the Credit Facility.

Reduction of Credit Facility. The Borrower may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce the Credit Facility in whole or in part to the extent the Credit Facility, is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. The amount of the Credit Facility will be permanently reduced at the time, and in the amount, of the repayment made pursuant to Section 9.1 and prepayment made pursuant to Section 9.3. Any repayment or prepayment of credit outstanding under the Credit Facility (other than as set forth above) shall not cause a reduction in the amount of the Credit Facility. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the Credit Facility. Upon any reduction of the Credit Facility, the Individual Commitment of each Lender with respect to the Credit Facility shall thereupon be reduced by an amount equal to such Lender’s Pro Rata Share of the amount of such reduction of the Credit Facility.

Reduction of Credit Facility. The Borrower may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce the Credit Facility in whole or in part to the extent it is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. The amount of the Credit Facility will be permanently reduced (i) with respect to each repayment in accordance with Section 9.1(a) and (ii), upon each Contract Termination, by the relevant Contract Termination Amount unless such reduction in the Credit Facility amount is waived by the Lenders in their sole and absolute discretion. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the Credit Facility. Upon any reduction of the Credit Facility, the Individual Commitment of each Lender with respect shall thereupon be reduced by an amount equal to such Lender’s Pro Rata Share of the amount of such reduction of the Credit Facility.

Reduction of Credit Facility. The Borrower may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce the Credit Facility in whole or in part to the extent it is not being utilized at the time such notice is given, provided that such reduction shall not become effective until three (3) Banking Days after such notice has been given. The amount of the Credit Facility will be permanently reduced with respect to the repayment made in accordance with Section 9.1 but shall not be permanently reduced with respect to any voluntary prepayment made in accordance with Section 9.2. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the Credit Facility. Upon any reduction of the Credit Facility, the Individual Commitment of each Lender shall thereupon be reduced by an amount equal to such Lender’s Pro Rata Share of the amount of such reduction of the Credit Facility.

Reduction of Credit Facility. The Borrowers may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce the Credit Facility in whole or in part to the extent the Credit Facility, is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. The amount of the Credit Facility will be permanently reduced at the time, and in the amount, of each repayment or prepayment made pursuant to Section 9.1 and 9.

Reduction of Credit Facility. The Borrowers may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce the Credit Facility in whole or in part to the extent it is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. The amount of the Credit Facility will be permanently reduced with respect to repayment made in accordance with Section 9. 1. Any repayment or prepayment of credit outstanding under the Credit Facility (other than as set forth above) shall not cause a reduction in the amount of the Credit Facility. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the Credit Facility. Upon any reduction of the Credit Facility (other than pursuant to Section 9.1(b)), the Individual Commitment of each Lender with respect to the Credit Facility shall thereupon be reduced by an amount equal to such Lender's Global Pro Rata Share of the amount of such reduction of the Credit Facility. Upon any reduction of the Credit Facility pursuant to Section 9.1(b), the Individual Commitment of the relevant Non-Continuing Lender with respect to the Credit Facility shall thereupon be reduced by an amount equal to such reduction of the Credit Facility.

Reduction of Credit Facility. The Borrowers may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce the Credit Facility in whole or in part to the extent it is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. The amount of the Credit Facility will be permanently reduced with respect to repayment made in accordance with Section 9.01. Any mandatory prepayment under the Credit Facility pursuant to Section 9.04 shall cause a permanent reduction in the amount of the Credit Facility, such reduction in each case to be in an amount equal to the amount of the prepayment and to be at the time of the prepayment. The amount of the Credit Facility shall also reduce at the time, and in the amount, of each payment to Kinross Canada pursuant to the penultimate sentence of Section 6 of the Sinking Fund Pledge Agreement. The Credit Facility shall also be permanently reduced in accordance with 2.01. Any repayment or prepayment of credit outstanding under the Credit Facility (other than as set forth above) shall not cause a reduction in the amount of the Credit Facility. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the Credit Facility. Upon any reduction of the Credit Facility, the Individual Commitment of each Lender with respect to the Credit Facility shall thereupon be reduced by an amount equal to such Lender's Pro Rata Share of the amount of such reduction of the Credit Facility.

Reduction of Credit Facility. The Borrower may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce the Credit Facility in whole or in part to the extent it is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. The Credit Facility shall be permanently reduced to the amount of credit outstanding thereunder after the sole drawdown thereunder which sole drawdown shall be made as of the date hereof. The amount of the Credit Facility will be permanently reduced with respect to the repayment made in accordance with Section 9.1 and with respect to any voluntary prepayment made in accordance with Section 9.2. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the Credit Facility. Upon any reduction of the Credit Facility, the Individual Commitment of each Lender shall thereupon be reduced by an amount equal to such Lender’s Pro Rata Share of the amount of such reduction of the Credit Facility.

Reduction of Credit Facility. The Obligors, the Lenders, and the Administrative Agent hereby acknowledge and agree that the Credit Facility shall be reduced to the amount of $22,972,050, such reduction to be effective as of five Banking Days following the date of this agreement in accordance with Section 2.3 of the Credit Agreement. Any and all references to the amount of the Credit Facility in the Credit Agreement (including, without limitation, Section 2.1 thereof and Schedule A thereto) shall thereafter be amended to delete reference to “$24,000,000” and replaced with “$22,972,050”