Reduction of the Commitment. The Borrower shall have the right, upon at least thirty (30) Business Days' notice to the Agent, to terminate in whole or reduce in part the Aggregate Commitment by an amount not exceeding the Unused Commitment, each such reduction to be allocated among the unused portions of the Advance Commitment and the Letter of Credit Commitment, as the Borrower shall specify, in accordance with each Lender's Pro Rata Share thereof; provided, however, that each partial reduction shall be in the amount of $1,000,000 and in integral multiples of $1,000,000 in excess of that amount.
Appears in 3 contracts
Samples: Credit Agreement (Vicorp Restaurants Inc), Credit Agreement (Vicorp Restaurants Inc), Credit Agreement (Vicorp Restaurants Inc)
Reduction of the Commitment. The Borrower shall have the rightmay, upon at least thirty two (302) Business Days' β notice to the Deal Agent, to terminate in whole or reduce in part the Aggregate Commitment by an amount not exceeding the Unused Commitment, each such reduction to be allocated among the unused portions portion of the Advance Commitment and that exceeds the Letter of Credit Commitment, as the Borrower shall specify, in accordance with each Lender's Pro Rata Share thereofAggregate Loan Amount; provided, however, that each partial reduction of the Commitment shall be in the an aggregate amount of equal to $1,000,000 and in or an integral multiples multiple thereof. Each notice of $1,000,000 in excess of that amountreduction or termination pursuant to this Section 2.5 shall be irrevocable.
Appears in 3 contracts
Samples: Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp), Loan and Security Agreement (Credit Acceptance Corp)
Reduction of the Commitment. The Borrower shall have the rightmay, upon at least thirty two (302) Business Days' β notice to the Deal Agent, to terminate in whole or reduce in part the Aggregate Commitment by an amount not exceeding the Unused Commitment, each such reduction to be allocated among the unused portions portion of the Advance Commitment and that exceeds the Letter of Credit Commitment, as the Borrower shall specify, in accordance with each Lender's Pro Rata Share thereofAggregate Loan Amount; provided, however, that each partial reduction of the Commitment shall be in the an aggregate amount of equal to $1,000,000 and in or an integral multiples multiple thereof. Each notice of $1,000,000 in excess of that amountreduction or termination pursuant to this Section 2.5(a) shall be irrevocable.
Appears in 1 contract
Samples: Loan and Security Agreement (Credit Acceptance Corp)
