Reductions of Commitment. The Total Commitment with respect to the Revolving Credit may be voluntarily reduced, at the Borrowers' option, in minimum increments of $1,000,000.00, with any payment of interest, subject to the payment of the Line (Unused) Fee described below.
Reductions of Commitment. (a) Upon at least five Business Days’ notice, the Borrower shall have the right to permanently terminate or reduce the aggregate unused amount of the Commitment at any time and from time to time; provided that (i) each partial reduction shall be in an aggregate amount at least equal to $10,000,000 and in integral multiples of $1,000,000 above such amount and (ii) no reduction shall be made which would reduce the Commitment to an amount less than the then outstanding Loans. Any reduction in (or termination of) the Commitment shall be permanent and may not be reinstated.
(b) If the Borrower or any Acquisition Subsidiary shall have received commitments to lend under a credit facility (other than (i) under revolving credit facilities existing on the date hereof, as such facilities may be increased in accordance with the terms thereof existing on the date hereof, (ii) under commercial paper programs and (iii) under a $557,500,000 revolving credit facility entered into substantially contemporaneously with this Credit Agreement), from any party other than the Borrower or any of its Subsidiaries, the Commitment shall be permanently reduced by an amount equal to such commitments to lend.
(c) If the Borrower or any Acquisition Subsidiary shall have received Net Cash Proceeds from (i) the issuance by the Borrower or any Acquisition Subsidiary of any Indebtedness for borrowed money having a maturity of greater than 180 days with an aggregate principal balance in excess of $10,000,000 owing to a Person that is not the Borrower or a Subsidiary of the Borrower (other than (A) Indebtedness incurred by Borrower or any Acquisition Subsidiary under revolving credit facilities existing on the date hereof, as such facilities may be increased in accordance with the terms thereof existing on the date hereof and (B) Indebtedness incurred by the Borrower under a $557,500,000 revolving credit facility entered into substantially contemporaneously with this Credit Agreement), or (ii) the sale or issuance in the capital markets by the Borrower or any Acquisition Subsidiary of equity interests for Net Cash Proceeds in excess of $10,000,000 (other than the issuance of not more than $130,000,000 of equity interests before the earlier of the consummation of the Michigan Acquisition and the consummation of the Minnesota Acquisition and the issuance of equity interests as part of a stock investment plan pursuant to which existing shareholders are offered an opportunity to reinvest dividends...
Reductions of Commitment. 7 1.8 INTEREST............................................................................. 8 1.9 FEES................................................................................. 10 1.10
Reductions of Commitment. Each reduction of the Commitment under Section 2.9. shall be in a minimum amount of $100,000 and integral multiples of $50,000 in excess thereof.
Reductions of Commitment. 2 2.01 Mandatory Reduction of Commitments............................2
Reductions of Commitment. If any reduction in the [Facility A Commitments] [Facility B Commitments] occurs between the date of this Assignment Agreement and the Effective Date, the percentage of the [Facility A Commitments] [Facility B Commitments] assigned to the Assignee shall remain the percentage specified in Section 1 hereof and the dollar amount of the [Facility A Commitment] [Facility B Commitment] of the Assignee shall be recalculated based on the reduced [Facility A Commitments] [Facility B Commitments].
Reductions of Commitment. Notwithstanding any provision to the contrary contained herein or in any other Loan Document, the Commitment shall automatically reduce, without further written agreement or authorization by Borrower, as follows: (a) effective as of the Guaranty/Pledged Liquidity Account Reduction Event, the Commitment shall automatically reduce by an amount equal to the aggregate amount of all unfunded “contingency”, Hard Costs and other line items set forth in the Project Budget, except for any unfunded Interest Reserve Amount or other “operating deficit” Soft Costs, and no further advances of Loan proceeds shall thereafter be available to Borrower, other than for payment of accrued interest under the Loan in accordance with the terms of Section 6.5 or payment of other “operating deficit” Soft Costs as and when occurred in accordance with the terms of this Agreement; and (b) effective as of the commencement of the Extension Period, the unfunded portion of the Commitment shall automatically terminate and no further advances of Loan proceeds shall be available to Borrower during the Extension Period.
Reductions of Commitment. (a) [Reserved].
(b) The Borrower shall have the right to terminate or reduce the unused amount of the Commitment at any time or from time to time upon not less than three Business Days’ prior notice to the Lender of each such termination or reduction, which notice shall specify the effective date of such termination or reduction and the amount of any such reduction (provided that the amount of any such reduction shall be equal to £100,000 or an integral multiple of £100,000 in excess thereof or, if less, the remaining unused portion thereof) and shall be irrevocable and effective only upon receipt by the Lender; provided that the Borrower may not reduce the Commitment below the Total Utilization then in effect.
(c) The Commitment shall be cancelled in full and reduced to zero if:
(i) a Press Release has not been published by close of business in London on the date falling 10 Business Days after the date of this Agreement; or
(ii) an Offer Document has not been issued within 28 days of the date of publication of the Press Release referred to in clause (i) above (or by such later date as may be agreed to by the Panel).
(d) All or any portion of the Commitment once terminated or reduced may not be reinstated.
Reductions of Commitment. 6 1.7 INTEREST................................................. 6 1.8 FEES..................................................... 7 1.9 COMPUTATION OF INTEREST AND FEES......................... 7 1.10 PROMISSORY NOTES; RECORDS OF ACCOUNT...................... 7 1.11
Reductions of Commitment. If any reduction in the Commitment occurs between the date of this Assignment Agreement and the Effective Date, the percentage interest specified in Item 3 of Schedule 1 shall remain the same, but the dollar amount purchased shall be recalculated based on the reduced Commitment of the Assignor.
