Common use of Reduction of Total Commitment Clause in Contracts

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three (3) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the 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 Section 2.3, the Administrative Agent will notify the 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 Lenders 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 5 contracts

Samples: Revolving Credit Agreement (Coach Inc), Revolving Credit Agreement (Coach Inc), Revolving Credit Agreement (Coach Inc)

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Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3ss.2.3, the Administrative Agent will notify the Lenders 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 Lenders 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.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Marcam Corp)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 500,000 or an integral multiple of $100,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the 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 Section §2.3, the Administrative Agent will notify the 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 Lenders 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: Credit Agreement (Safety Insurance Group Inc), Revolving Credit Agreement (Safety Insurance Group Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 or an integral a whole multiple of $1,000,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the 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 Section §2.3, the Administrative Agent will notify the 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 Lenders the full amount of any Commitment Facility 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 Borrowers shall have the right at any time and from time to time upon three (3) Business Days Days' prior written notice to the Administrative Agent to reduce by $5,000,000 500,000 or an any greater integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 from the Borrower Borrowers delivered pursuant to this Section 2.3/section/2.3, the Administrative Agent will notify the Lenders Banks 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 Lenders 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.

Appears in 1 contract

Samples: Credit Agreement (Xomed Surgical Products Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the 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 Section 2.3, the Administrative Agent will notify the 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 Lenders 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 (Buca Inc /Mn)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three two (32) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 100,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3, the Administrative Agent will notify the Lenders 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 Lenders Banks the full amount of any Commitment Fee facility fee and utilization 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 (Charlotte Russe Holding Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 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 Lenders 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 Section 2.3ss.2.3, the Administrative Agent will notify the Lenders 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 Lenders 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.

Appears in 1 contract

Samples: Revolving Credit Agreement (Brooks Automation Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days Days' prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiple thereof or to terminate entirely the Total Commitment, Commitment whereupon the Commitments of the Lenders 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 Section 2.3, the Administrative Agent will notify the 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 Lenders 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 (Friendly Ice Cream Corp)

Reduction of Total Commitment. The Borrower Borrowers shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the 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 Section 2.3ss.2.3, the Administrative Agent will notify the 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 Lenders the full amount of any Commitment Facility 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 (Watts Industries Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiple multiples of $1,000,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3§3.3, the Administrative Agent will notify the Lenders 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 Lenders 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.

Appears in 1 contract

Samples: Revolving Credit Agreement (Anacomp Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three (3) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 100,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section §2.3, the Administrative Agent will notify the Lenders 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 Lenders 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 (Digitas Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three one (31) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 or an integral a whole multiple of $100,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3, the Administrative Agent will notify the Lenders 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 Lenders 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.

Appears in 1 contract

Samples: Revolving Credit Agreement (Decisionone Holdings Corp)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the 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 Section 2.3(S)2.3, the Administrative Agent will notify the 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 Lenders 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 (Lifeline Systems Inc)

Reduction of Total Commitment. The Borrower Borrowers shall have the right at any time and from time to time upon three (3) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess thereof or to terminate entirely the Total Commitment, Commitment whereupon the Commitments of the 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 Section 2.3, the Administrative Agent will notify the 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 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: Revolving Credit Agreement (Zale Corp)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Facility Agent to reduce by $5,000,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3ss.2.3, the Administrative Facility Agent will notify the Lenders of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Administrative Facility Agent for the respective accounts of the 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: Revolving Credit Agreement (Sassco Fashions LTD /De/)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 500,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the 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 Section §2.3, the Administrative Agent will notify the 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 Lenders 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: Term Loan Agreement (CAI International, Inc.)

Reduction of Total Commitment. The Borrower Borrowers shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the 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 Section §2.3, the Administrative Agent will notify the 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 Lenders the full amount of any Commitment Unused 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 (Seneca Foods Corp /Ny/)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days Days' prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3ss.2.3, the Administrative Agent will notify the Lenders 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 Lenders 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 under this ss.2.3 may be reinstated.

Appears in 1 contract

Samples: Revolving Credit Agreement (Stage Stores Inc)

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Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three (3) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral a whole multiple of $100,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the 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 Section §2.3, the Administrative Agent will notify the 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 Lenders 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: Senior Unsecured Credit Agreement (Barnes Group Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3, the Administrative Agent will notify the Lenders 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 Lenders 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.

Appears in 1 contract

Samples: Revolving Credit Agreement (Anacomp Inc)

Reduction of Total Commitment. The Borrower Borrowers shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 500,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Borrowers delivered pursuant to this Section 2.3, the Administrative Agent will notify the Lenders Banks 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 Lenders 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.

Appears in 1 contract

Samples: Revolving Credit Agreement (American Restaurant Group Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 100,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3, the Administrative Agent will notify the Lenders 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 Lenders 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.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hbo & Co)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three (3) Business Days days prior written notice to the Administrative Agent to reduce by $5,000,000 or an a larger integral multiple thereof of $1,000,000 or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section §2.3, the Administrative Agent will notify the Lenders 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 Lenders 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.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Agreement (Rogers Corp)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days Days’ prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiple thereof or to terminate entirely the Total Commitment, Commitment whereupon the Commitments of the 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 Section §2.3, the Administrative Agent will notify the 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 Lenders 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 (Friendly Ice Cream Corp)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three (3) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 100,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3ss.2.3, the Administrative Agent will notify the Lenders 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 Lenders 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 (Digitas Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3, the Administrative Agent will notify the Lenders 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 Lenders 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 (Cabot Microelectronics Corp)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 500,000 or an integral multiple of $100,000 in excess thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section §2.3, the Administrative Agent will notify the Lenders 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 Lenders 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.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Fargo Electronics Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three (3) Business Days days prior written notice to the Administrative Agent to reduce by $5,000,000 or an a larger integral multiple thereof of $1,000,000 or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3, the Administrative Agent will notify the Lenders 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 Lenders 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.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Agreement (Rogers Corp)

Reduction of Total Commitment. The Borrower Borrowers shall have the right at any time and from time to time upon three seven (37) Business Days days prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Borrowers delivered pursuant to this Section 2.3ss.2.3, the Administrative Agent will notify the Lenders Banks 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 Lenders 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.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Morgan Group Inc)

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time upon three (3) Business Days Days' prior written notice to the Administrative Agent to reduce by $5,000,000 500,000 or an integral multiple thereof or to terminate entirely the Total Commitment, whereupon the Commitments of the Lenders 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 Section 2.3(S)2.3, the Administrative Agent will notify the Lenders 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 Lenders 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.

Appears in 1 contract

Samples: Revolving Credit Agreement (Moore Medical Corp)

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