Common use of Reduction or Termination of Revolving Commitments Clause in Contracts

Reduction or Termination of Revolving Commitments. The Borrower, from time to time upon not less than five (5) Business Days' prior written notice to the Agent, may permanently reduce the Revolving Commitment Amount; provided, however, that no such reduction shall reduce the Revolving Commitment Amount to an amount less than the Revolving Facility Outstanding Amount. Any such voluntary reduction shall be pro rata as to all Revolving Commitments according to each Bank's Percentage of the Revolving Facility and shall be in an aggregate amount equal to $5,000,000 or a higher integral multiple of $1,000,000. The Borrower at any time prior to the Revolving Commitment Termination Date may terminate the Revolving Commitments by (i) providing to the Agent not less than five (5) Business Days prior written notice of its intention to so terminate the Revolving Commitments and (ii) making payment in full of all principal and interest on the Revolving Notes and terminating, or making a cash deposit with respect to, all outstanding Letters of Credit.

Appears in 2 contracts

Samples: Credit Agreement (Entegris Inc), Credit Agreement (Entegris Inc)

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Reduction or Termination of Revolving Commitments. The Borrower, from time to time upon not less than five three (53) Business Days' prior written notice to the Agent, may permanently reduce the Revolving Commitment Amount; provided, however, that no such reduction shall reduce the Revolving Commitment Amount to an amount less than the Total Outstanding Revolving Facility Outstanding Amount. Any such voluntary reduction shall be pro rata as to all Revolving Commitments according to each Bank's ’s Revolving Percentage of the Revolving Facility and shall be in an aggregate amount equal to $5,000,000 or a higher integral multiple of $1,000,000. The Borrower at any time prior to the Revolving Commitment Termination Date may terminate the Revolving Commitments by (i) providing to the Agent not less than five (5) Business Days prior written notice of its intention to so terminate the Revolving Commitments and (ii) making payment in full of all principal and interest on the Revolving Notes and terminating, or making a cash deposit with respect to, all outstanding Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Entegris Inc)

Reduction or Termination of Revolving Commitments. The Borrower, from time to time upon not less than five (5) Business Days' prior written notice to the Agent, may permanently reduce the Revolving Commitment Amount; provided, however, that no such reduction shall reduce the Revolving Commitment Amount to an amount less than the Revolving Facility Outstanding Amount. Any such voluntary reduction shall be pro rata as to all Revolving Commitments according to each Bank's Percentage of the Revolving Facility and shall be in an aggregate amount equal to $5,000,000 or a higher integral multiple of $1,000,000. The Borrower at any time prior to the Revolving Commitment Termination Date may terminate the Revolving Commitments by (i) providing to the Agent not less than five (5) Business Days prior written notice of its intention to so terminate the Revolving Commitments and (ii) making payment in full of all principal and interest on the Revolving Notes and terminating, or making a cash deposit with respect to, all outstanding Letters of CreditNotes.

Appears in 1 contract

Samples: Credit Agreement (Innovex Inc)

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Reduction or Termination of Revolving Commitments. The Borrower, from time to time upon not less than five thirty (530) Business Days' prior written notice to the Agent, may permanently reduce the Revolving Commitment Amount; provided, however, that no such reduction shall reduce the Revolving Commitment Amount to an amount less than the greater of (i) the Swingline Commitment Amount or (ii) the Revolving Facility Outstanding Amount. Any such voluntary reduction shall be pro rata as to all Revolving Commitments according to each Bank's Percentage of the Revolving Facility and shall be in an aggregate amount equal to $5,000,000 2,000,000 or a higher integral multiple of $1,000,000. The Borrower at any time prior to the Revolving Commitment Termination Date may terminate the Revolving Commitments by (i) providing to the Agent not less than five thirty (530) Business Days Days' prior written notice of its intention to so terminate the Revolving Commitments and (ii) making payment in full of all principal Notes and interest on the Revolving Notes all other monetary Obligations and terminating, or making a cash deposit with respect to, all outstanding Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Luiginos Inc)

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