Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 4 contracts
Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc)
Reduction of Total Commitment. The Borrower Borrowers shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Administrative Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Banks Lenders shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower Borrowers delivered pursuant to this (S)2.3§ 2.1.4, the Administrative Agent will notify the Banks Lenders of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower Borrowers shall pay to the Administrative Agent for the respective accounts of the Banks Lenders the full amount of any commitment fee Commitment Fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated. In addition, the Total Commitment shall be reduced in accordance with § 4.2.
Appears in 2 contracts
Samples: Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.), Revolving Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time prior to the Maturity Date upon five three (53) Business Days Days' prior written notice to the Agent to reduce by $2,500,000 5,000,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments Commitment Amount of the Banks each Bank shall be reduced pro rata PRO RATA in accordance with their --- ---- respective its Commitment Percentages of Percentage by the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3Section 2.5, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee the Facility Fee then accrued on the amount of the reduction. No reduction or termination of the Commitments Total Commitment may be reinstated.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Staples Inc), Revolving Credit Agreement (Staples Inc)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3S)2.6, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments or of the Total Commitment may be reinstated.
Appears in 2 contracts
Samples: Revolving Credit Agreement (New England Business Service Inc), Revolving Credit Agreement (New England Business Service Inc)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days Days’ prior written notice to the Agent to reduce by $2,500,000 or an integral multiple the minimum amount of $500,000 in excess thereof 5,000,000 and integral multiples of $1,000,000 thereafter or to terminate entirely the Total Commitment, whereupon the Commitments of the Banks Lenders shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3§2.3, the Agent will notify the Banks Lenders of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks Lenders the full amount of any commitment fee Commitment Fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 2 contracts
Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.), Revolving Credit Agreement (Seacastle Inc.)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 5,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five three (53) Business Days prior written notice to the Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Revolving Credit Loan --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (Petro Stopping Centers Holdings Lp), Revolving Credit and Term Loan Agreement (Petro Stopping Centers L P)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3ss 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3Section 2.6, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments or of the Total Commitment may be reinstated.
Appears in 1 contract
Samples: Revolving Credit Agreement (New England Business Service Inc)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five seven (57) Business Days prior written notice to the Agent to reduce by $2,500,000 5,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof the unborrowed portion of the Total Commitment or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right at any ----------------------------- any time and from time to time upon five three (53) Business Days prior written notice to the Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Revolving Credit Loan Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Petro Stopping Centers L P)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five three (53) Business Days prior written notice to the Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata PRO RATA in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3Section 2.7, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments or of the Total Commitment may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time prior to the Maturity Date upon five three (53) Business Days Days' prior written notice to the Agent to reduce by $2,500,000 5,000,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments Commitment Amount of the Banks each Lender shall be reduced pro rata PRO RATA in accordance with their --- ---- respective its Commitment Percentages of Percentage by the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3Section 2.6, the Agent will notify the Banks Lenders of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks Lenders the full amount of any commitment fee the Facility Fee then accrued on the amount of the reduction. No reduction or termination of the Commitments Total Commitment may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 1,000,000 or an integral multiple multiples of $500,000 1,000,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3§2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee Commitment Fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated. In addition, the Total Commitment shall be reduced in accordance with §3.2 hereof.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five ten (510) Business Days prior written notice to the Administrative Agent to reduce by $2,500,000 2,000,000 or an integral multiple multiples of $500,000 1,000,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.32.3, the Administrative Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Administrative Agent for the respective accounts of the Banks the full amount of any commitment fee Facility Fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right right, at ----------------------------- any time and from time to time time, upon five three (53) Business Days Days' prior written notice to the Agent Agents, to reduce by $2,500,000 5,000,000 or an integral multiple of $500,000 in excess thereof thereof, or terminate entirely entirely, the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.32.3, the Agent Agents will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent Agents for the respective accounts of the Banks the full amount of any commitment fee Commitment Fee then accrued on the amount of the reduction, plus any amounts due under Section 3.2 and 3.3.2 hereof. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Administrative Agent to reduce by $2,500,000 5,000,000 or an integral a whole multiple of $500,000 1,000,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Banks Lenders shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Administrative Agent will notify the Banks Lenders of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Administrative Agent for the respective accounts of the Banks Lenders the full amount of any commitment fee Commitment Fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)
Reduction of Total Commitment. The Borrower shall have the ----------------------------- right at ----------------------------- any time and from time to time upon five three (53) Business Days prior written notice to the Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in --- ---- accordance with their --- ---- respective Revolving Credit Loan Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Petro Stopping Centers L P)
Reduction of Total Commitment. The Borrower shall have the right ----------------------------- at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 500,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3ss.2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- ------------------------------ any time and from time to time upon five (5) Business Days prior written notice to the Loan and Collateral Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Loan and Collateral Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Loan and Collateral Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Revolving Credit Agreement (California Steel Industries Inc)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Administrative Agent to reduce by $2,500,000 5,000,000 or an in integral multiple multiples of $500,000 1,000,000 in excess thereof of $5,000,000 or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3Section 2.3, the Administrative Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Administrative Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Bangor Hydro Electric Co)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 500,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata PRO RATA in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, ss.
2.3.1 the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Credit Agreement (HPSC Inc)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time prior to the Maturity Date upon five three (53) Business Days Days' prior written notice to the Agent to reduce by $2,500,000 5,000,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments Commitment Amount of the Banks each Bank shall be reduced pro rata PRO RATA in accordance with their --- ---- respective its Commitment Percentages of Percentage by the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3ss.2.6, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee the Facility Fee then accrued on the amount of the reduction. No reduction or termination of the Commitments Total Commitment may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five three (53) Business Days prior written notice to the Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata PRO RATA in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3Section 2.7, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment facility fee then accrued on the amount of the reduction. No reduction or termination of the Commitments or of the Total Commitment may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 500,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata PRO RATA in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 1,000,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Revolving Credit Agreement (Answer Think Consulting Group Inc)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 500,000 or an integral multiple of $500,000 in excess thereof 100,000 or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3ss.2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Revolving Credit Agreement (National Auto Finance Co Inc)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five three (53) Business Days prior written notice to the Agent to reduce by $2,500,000 500,000 or an integral multiple of $500,000 100,000 in excess thereof of the unborrowed portion of the Total Commitment or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the --- ---- amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Revolving Credit and Acquisition Loan Agreement (Jackson Products Inc)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 500,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the unborrowed portion of the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata PRO RATA in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3ss.2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Credit Agreement (HPSC Inc)
Reduction of Total Commitment. The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 E10,000,000 or an integral multiple of $500,000 E1,000,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Reduction of Total Commitment. The Borrower shall have the right ----------------------------- at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Mapics Inc)