Common use of Reductions in Aggregate Commitment Clause in Contracts

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,000, upon at least five (5) Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate amount of the outstanding Letter of Credit Obligations.

Appears in 3 contracts

Samples: Letter of Credit Agreement (Navigators Group Inc), Letter of Credit Agreement (Navigators Group Inc), Funds at Lloyd’s Letter of Credit Agreement (Navigators Group Inc)

AutoNDA by SimpleDocs

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, whole or in part ratably among the Lenders in a minimum amount of $15,000,000 and integral multiples of $5,000,0002,500,000 in excess thereof, upon at least five (5) two Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Letter of Credit ObligationsSyndicated Advances.

Appears in 3 contracts

Samples: Revolving Credit Agreement (TJX Companies Inc /De/), Revolving Credit Agreement (TJX Companies Inc /De/), Revolving Credit Agreement (TJX Companies Inc /De/)

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment (and the Maximum Aggregate Commitment) in whole, or in part ratably among the Lenders in integral multiples of $5,000,000, upon at least five (5) ten Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; , provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Letter of Credit ObligationsAdvances.

Appears in 2 contracts

Samples: Unsecured Revolving Credit Agreement (Susa Partnership Lp), Unsecured Revolving Credit Agreement (Susa Partnership Lp)

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples a minimum aggregate amount of $5,000,00010,000,000, upon at least five (5) Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; providedPROVIDED, howeverHOWEVER, that the amount of the Aggregate Commitment may not be reduced below the aggregate amount of the outstanding Letter of Credit ObligationsTotal Outstandings.

Appears in 1 contract

Samples: Credit Agreement (Interim Services Inc)

Reductions in Aggregate Commitment. (a) The Borrower may without premium or penalty permanently reduce the Aggregate Commitment in whole, or in part part, ratably among the Lenders 20 in aggregate integral multiples of $5,000,0005,000,000 (or if less, the Aggregate Commitment), upon at least five two (52) Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided, however, provided that the amount of the Aggregate Commitment may not be reduced below the aggregate amount of the outstanding Letter of Aggregate Outstanding Credit ObligationsExposure, after taking into account any prepayments to be made on or before such date.

Appears in 1 contract

Samples: Credit Agreement (Oge Energy Corp.)

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral a minimum aggregate amount of $5,000,000 (and multiples of $5,000,000500,000 in excess thereof), upon at least five (5) three Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Letter of Credit ObligationsAdvances.

Appears in 1 contract

Samples: Credit Agreement (Firstar Corp /Wi/)

Reductions in Aggregate Commitment. (a) The Borrower may ---------------------------------- permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,0001,000,000, upon at least five (5) three Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided, however, that reduction (the amount of the "Aggregate Commitment may not be reduced below the aggregate amount of the outstanding Letter of Credit ObligationsReduction Notice").

Appears in 1 contract

Samples: Interim Credit Agreement (Gardner Denver Inc)

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum amount of $5,000,000 and in integral multiples of $5,000,000, 1,000,000 if in excess thereof upon at least five (5) three Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; , provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Letter of Credit Obligations.Extensions and may not in any event be reduced below $50,000,000 unless reduced to zero (

Appears in 1 contract

Samples: Credit Agreement (Sun Communities Inc)

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,000250,000, upon at least five (5) ten Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; , provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Letter Advances. All accrued commitment fees shall be payable on the effective date of Credit Obligationsany termination of the obligations of the Lenders to make Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Administaff Inc \De\)

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,000, upon at least five (5) ten Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; , provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Letter of Credit ObligationsAdvances.

Appears in 1 contract

Samples: Unsecured Revolving Credit Agreement (Storage Usa Inc)

AutoNDA by SimpleDocs

Reductions in Aggregate Commitment. (a) The Borrower may ---------------------------------- permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,000, upon at least five (5) three Business Days’ Day's written notice to the Administrative Agent, which notice shall specify specify, the amount of any such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the sum of (i) the Dollar Equivalent of the aggregate principal amount of the then outstanding Advances plus (ii) the Facility Letter ---- of Credit Obligations.

Appears in 1 contract

Samples: Revolving Credit Agreement (BDM International Inc /De)

Reductions in Aggregate Commitment. (a) The Subject to Section 2.17, ---------------------------------- the Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral a minimum aggregate amount of $5,000,000 (and multiples of $5,000,0001,000,000 in excess thereof), upon at least five (5) three Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the Dollar Equivalent of the aggregate principal amount of the then outstanding Letter of Credit ObligationsAdvances.

Appears in 1 contract

Samples: Credit Agreement (Jostens Inc)

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part part, ratably among the Lenders in integral a minimum aggregate amount of $5,000,000 (and multiples of $5,000,000500,000 in excess thereof), upon at least five (5) three Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Letter of Credit ObligationsAdvances.

Appears in 1 contract

Samples: Credit Agreement (Firstar Corp /Wi/)

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in a minimum amount of $5,000,000 and in integral multiples of $5,000,0001,000,000 in excess thereof, upon at least five (5) three Business Days' written notice to the Administrative AgentBank, which notice shall specify the amount of any such reduction; , provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate amount principal Dollar Amount, calculated as of the date of such reduction of the Commitment, of all outstanding Letter of Credit ObligationsAdvances.

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Enesco Group Inc)

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,000, upon at least five (5) three Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the sum of the aggregate principal amount of the outstanding Letter of Credit ObligationsAdvances and the aggregate outstanding L/C Obligations and Swing Line Loans.

Appears in 1 contract

Samples: Credit Agreement (Omnicare Inc)

Reductions in Aggregate Commitment. (a) The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,00010,000,000, upon at least five (5) three Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; , provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate amount of the outstanding Letter of Aggregate Outstanding Credit ObligationsExposure.

Appears in 1 contract

Samples: Credit Agreement (Tecumseh Products Co)

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