Common use of Reduction of Revolving Credit Commitment Clause in Contracts

Reduction of Revolving Credit Commitment. The Borrower may from time to time by written notice delivered to the Administrative Agent at least seven (7) Business Days prior to the date of the requested reduction, reduce by a minimum amount of $1,000,000, and in additional increments of $500,000, any unborrowed portion of the Revolving Credit Commitment. No reduction of the Revolving Credit Commitment shall be subject to reinstatement.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Mac-Gray Corp), Credit and Term Loan Agreement (Mac-Gray Corp)

AutoNDA by SimpleDocs

Reduction of Revolving Credit Commitment. The Borrower may from time to time by written notice delivered to the Administrative Agent Lender at least seven (7) 5 Business Days prior to the date of the requested reduction, reduce by a minimum amount of $1,000,000500,000, and in additional increments of $500,000100,000, any unborrowed portion of the Revolving Credit CommitmentCommitment then in effect. No reduction of the Revolving Credit Commitment shall be subject to reinstatement.

Appears in 2 contracts

Samples: Credit and Term Loan Agreement (Open Link Financial, Inc.), Credit and Term Loan Agreement (Open Link Financial, Inc.)

Reduction of Revolving Credit Commitment. The Borrower may from time to time by written notice delivered to the Administrative Agent at least seven five (75) Business Days prior to the date of the requested reduction, reduce by a minimum amount of $1,000,0005,000,000, and in additional increments of $500,0001,000,000, any unborrowed portion of the Revolving Credit Commitment. No reduction of the Revolving Credit Commitment shall be subject to reinstatement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ross Stores Inc)

Reduction of Revolving Credit Commitment. The Borrower Borrowers may from time to time by written notice delivered to the Administrative Agent at least seven (7) three Business Days prior to the date of the requested reduction, reduce by a minimum amount integral multiples of $1,000,000, and in additional increments of $500,000, 100,000 any unborrowed portion of the aggregate Revolving Credit CommitmentCommitments. Any such reduction shall be PRO RATA based on the Revolving Credit Commitment Percentage of each of the Banks. No reduction of the Revolving Credit Commitment Commitments shall be subject to reinstatement.

Appears in 1 contract

Samples: Revolving Credit Agreement (Unicco Service Co)

AutoNDA by SimpleDocs

Reduction of Revolving Credit Commitment. The Borrower may from ---------------------------------------- time to time by written notice delivered to the Administrative Agent at least seven (7) 5 Business Days prior to the date of the requested reduction, reduce by a minimum amount of $1,000,000, and in additional increments of $500,000, any unborrowed portion of the Revolving Credit Commitment. No reduction of the Revolving Credit Commitment shall be subject to reinstatement.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Wm Acquisition Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!