Reductions in Commitment. The Borrower shall have the right from time to time to permanently reduce the Aggregate Commitments, provided that (i) notice of such reduction is given not less than two Business Days prior to such reduction, (ii) the resulting Aggregate Commitments are not less than the Facility Usage, and (iii) each partial reduction shall be in an amount at least equal to $5,000,000 and in multiples of $1,000,000 in excess thereof.
Reductions in Commitment. The Borrower shall have the right from time to time to permanently reduce the Aggregate Commitments, provided that (i) notice of such reduction is given not less than two Business Days prior to such reduction, (ii) the resulting Aggregate Commitments are not less than the Facility Usage, and (iii) each partial reduction shall be in an amount at least equal to $5,000,000 and in multiples of $1,000,000 in excess thereof. Such notice may state that such notice is conditioned upon the effectiveness of other credit facilities or the receipt of the proceeds from the incurrence of other Indebtedness or any other event, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified date) if such condition is not satisfied.
Reductions in Commitment. The Borrower shall have the right, upon at least 3 Business Days' prior written notice to the Lender at the Payment Office, to reduce permanently the Commitment, in an aggregate amount equal to an integral multiple of $1,000,000 and not less than $10,000,000, or to terminate the unutilized portion of the Commitment.
Reductions in Commitment. The Borrower may, at any time and from time to time upon one (1) Business Day’s prior irrevocable written notice to the Agent, reduce (on a pro rata basis among the Lenders) or terminate the Commitment without premium or penalty, provided, however, that each partial reduction shall be in an amount equal to Five Hundred Thousand Dollars ($500,000) or an integral multiple of One Hundred Thousand Dollars ($100,000) in excess thereof and provided further, that the Commitment shall not be reduced or terminated at any time that would require the prepayment of a LIBOR Loan on a day other than the last day of the relevant Interest Period. Once so reduced, the Commitment shall not be increased and once so terminated, the Commitment shall not be reinstated.
Reductions in Commitment. Notwithstanding the maximum principal amount for Line of Credit B set forth in Section 1.2 (a) above, the maximum principal amount available under Line of Credit B shall be reduced automatically and without further notice on the first business day following the payment by Borrower to Bank of a Release Price in accordance with the terms of Section 1.6 hereof, by an amount equal to such Release Price.
Reductions in Commitment. The Borrowers may permanently reduce the Commitment in whole, or in part in a minimum amount of $1,000,000 (and in multiples of $500,000 if in excess thereof) (or the Approximate Equivalent Amount if denominated in an Agreed Currency other than Dollars), upon at least three (3) Business Days’ prior written notice to the Lender of such reduction, 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 Amount of the Outstanding Credit Exposure. All accrued Commitment Fees shall be payable on the effective date of any termination of all or any part of the obligations of the Lender to make Credit Extensions hereunder. For purposes of calculating the Commitment Fee hereunder, the principal amount of each Credit Extension made in an Agreed Currency other than Dollars shall be at any time the Dollar Amount of such Credit Extension as determined on the most recent Computation Date with respect to such Credit Extension.
Reductions in Commitment. The maximum committed amount under the Loan shall be reduced by the following amounts: (a) $533,000.00 semi-annually on the first day of January and July of each year commencing on the first day of July, 2007, until the first day of July, 2008; (b) $312,000.00 semi-annually on the first day of January and July of each year commencing on the first day of July, 2008, until the first day of January, 2010; and (c) $329,000.00 on the first day of January and July of each year commencing on the first day of January, 2010. Holland & Xxxx LLP Reno, Nevada
4. Section B.4(c) of the Loan Agreement is hereby amended to provide as follows:
Reductions in Commitment. 23 2.6 Interest. . . . . . . . . . . . . . . . . . . . . . 24 2.7 Advances. . . . . . . . . . . . . . . . . . . . . . 26 2.8
Reductions in Commitment. The Borrower may, at any time and from time to time upon one (1) Business Day’s prior irrevocable written notice, reduce or terminate the Commitment without premium or penalty, provided, however, that each partial reduction shall be in an amount equal to Five Hundred Thousand Dollars ($500,000) or an integral multiple of One Hundred Thousand Dollars ($100,000) in excess thereof and provided further, that the Commitment shall not be reduced or terminated at any time that would require the prepayment of a LIBOR Loan on a day other than the last day of the relevant Interest Period. Once so reduced, the Commitment shall not be increased and once so terminated, the Commitment shall not be reinstated.
Reductions in Commitment. Unless earlier terminated pursuant to this Agreement, the Commitment of each Lender shall automatically and permanently terminate on the Effective Date.
