Reduction of Facility Limit. The SPV may, upon at least ten (10) Business Days’ written notice to the Agent and each Managing Agent, terminate the facility provided in this Article II in whole or, from time to time, irrevocably reduce in part the unused portion of the Facility Limit; provided that each partial reduction shall be in the amount of at least $5,000,000, or an integral multiple of $1,000,000 in excess thereof, and that, unless terminated in whole, the Facility Limit shall in no event be reduced below $50,000,000; and provided further that (in addition to and without limiting any other requirements for termination or prepayment hereunder) no such termination in whole shall be effective unless and until all Aggregate Unpaids have been paid in full. The Agent shall advise the Managing Agents of any notice it receives pursuant to this Section 2.16.
Reduction of Facility Limit. Effective as of the Effective Date (as defined below) and notwithstanding anything in the Receivables Loan Agreement or any other Facility Document to the contrary (including, without limitation, Sections 2.04, 2.06, 2.07 and 2.14 of the Receivables Loan Agreement), (i) the Facility Limit is hereby reduced from $700,000,000 to $600,000,000, with all $100,000,000 of such reduction to be applied to reduce the Commitment of BTMU from $250,000,000 to $150,000,000 (and, for the avoidance of doubt, no other Committed Lender’s Commitment will be reduced as a result of such reduction in the Facility Limit), (ii) if immediately after giving effect to such reduction in the Facility Limit there is a Borrowing Base Deficiency, Borrower will repay a sufficient principal amount of Advances such that immediately after giving effect to such reduction in the Facility Limit and such repayment there is no Borrowing Base Deficiency, all of which repayment will be applied to reduce the Revolving Principal Balance owing to Victory (and, for the avoidance of doubt, none of such repayment will be applied to reduce the Revolving Principal Balance owing to any other Lender) and (iii) Borrower will pay to BTMU, as Managing Agent on behalf of the applicable members of the Victory Lender Group, all unpaid fees and Interest owing under the Receivables Loan Agreement or any other Facility Document to members of the Victory Lender Group and accrued through but excluding the Effective Date (and, for the avoidance of doubt, no other Lender Group’s unpaid fees or Interest will be paid in connection with the foregoing), together with any CP Breakage incurred by Victory as a result of the foregoing repayment of a portion of the Revolving Principal Balance owing to it (with such repayment being deemed an Optional Prepayment for purposes of such CP Breakage).
Reduction of Facility Limit. 21.1 If, at any time, we determine that the adjusted purchase price is lower than that stated by you, we reserve the right to reduce the facility limit.
21.2 We reserve the right to review or alter the facility limit at our discretion and shall give prior written confirmation to you in such event and any decision of ours shall be final and conclusive on you.
21.3 In the case of a Property Loan used for refinancing, we may vary the facility limit after we have determined the total amount of CPF savings used to purchase the property and make payments to any prior mortgagee of the property.
Reduction of Facility Limit. The SPV may, upon at least ten (10) Business Days’ written notice to the Agent and each Managing Agent, terminate the facility provided in this Article II in whole or, from time to time, irrevocably reduce in part the unused portion of the Facility Limit; provided that each partial reduction shall be in the amount of at least $5,000,000, or an integral multiple of $1,000,000 in excess thereof, and that, unless terminated in whole, the Facility Limit shall in no event be reduced below $200,000,000. Subject to the other requirements set forth in this Section 2.16, the SPV may terminate the facility at any time in its discretion by repurchasing all Receivables and Related Security from the Investors for a purchase price equal to the Aggregate Unpaids. No termination shall be effective unless and until all Aggregate Unpaids have been paid in full. The Agent shall advise the Managing Agents of any notice it receives pursuant to this Section 2.16.
Reduction of Facility Limit. The Seller shall have the right, at any time upon at least three (3) Business Days' notice to Triple-A, to terminate in whole or reduce in part the unused portion of the Facility Limit in a minimum amount of $10,000,000 and increments of $1,000,000 in excess thereof; PROVIDED that if the aggregate of the simultaneous reductions in the Facility Limit hereunder and under the Credit Agreement satisfy such test, the Seller may reduce the unused portion of the Facility Limit hereunder in a minimum amount of $3,000,000 and increments of $600,000 in excess thereof; PROVIDED, that in no event shall the Facility Limit be reduced to less than the amount of Capital then outstanding. Any such termination shall be without premium or penalty of any kind, except for any indemnification which may be owed in connection with such termination pursuant to SECTION 2.06 and SECTION 8.01.
Reduction of Facility Limit. The SPV may, upon at least five (5) Business Days’ written notice to the Agent and each Managing Agent, from time to time, irrevocably reduce in part the unused portion of the Facility Limit; provided that (x) each partial reduction shall be in the amount of at least $1,000,000, or an integral multiple of $500,000 in excess thereof, and that, unless reduced in whole, the Facility Limit shall in no event be reduced below $50,000,000 and (y) any such reduction shall be accompanied by an equal and corresponding reduction of the Facility Limit under the CF Transfer Agreement.
Reduction of Facility Limit. 7.7.1 At the request of the Company by giving not less than ten Business Day's prior written notice to Burdale, the Facility Limit may from time to time be reduced provided that on or before the effective date for such reduction the Company shall pay (or procure payment) to Burdale of:
(a) such amount as may be necessary in prepayment of the Loans and/or as cash collateral for Outstanding Purchase Price and/or Burdale's contingent obligations under any issued L/C or unmatured Forex Transaction to ensure that the Facility Companies remain in compliance with the Availability Limits (as adjusted to take account of such amendments pursuant to Clause 5.7); and
(b) a fee of 1% of the amount of the reduction of the Facility Limit.
7.7.2 Any exercise by Burdale of its rights under Clause 16.2(b) and/or 16.3 and/or the operation of Clause 7.6 shall be deemed for the purposes of paragraph 7.7.1(b) above to be a reduction in the Facility Limit in an amount equal to the amount of the Facility or Facilities so cancelled.
Reduction of Facility Limit. At the request of the Company by giving not less than ten Business Day's prior written notice to Burdale, the Facility Limit may from time to time be reduced provided that on or before the effective date for such reduction the Company shall pay to Burdale:
(a) such amount as may be necessary as cash collateral for Outstanding Purchase Price and/or Burdale's contingent obligations under any issued L/C to ensure that the Company remains in compliance with the Availability Limits; and
(b) a fee calculated by applying to the amount of the reduction the applicable percentage set out in column (2) below:
(2) DATE OF REDUCTION APPLICABLE PERCENTAGE On or before the first anniversary of today's 2% date After the first but on or before the second 1% anniversary of today's date After the second but on or before the third 0.5% anniversary of today's date Any exercise by Burdale of its rights under Clause 15.2(b) and/or 15.3 and/or the operation of Clause 12.1 shall be deemed for the purposes of paragraph (b) above to be
Reduction of Facility Limit. The Seller shall have the right, at any time upon at least three (3) Business Days' notice to Triple-A, to terminate in whole or reduce in part the unused portion of the Facility Limit in a minimum amount of $10,000,000 and increments of $1,000,000 in excess thereof; PROVIDED, that in no event shall the Facility Limit be reduced to less than the amount of Capital then outstanding. Any such termination shall be without premium or penalty of any kind, except for any indemnification which may be owed in connection with such termination pursuant to SECTION 2.06 and SECTION 8.01.
Reduction of Facility Limit. The Facility Limit may be reduced or terminated in accordance with the terms of Section 2.2 of the Note Purchase Agreement.
