Common use of Revolver Commitments Clause in Contracts

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 3 contracts

Samples: Credit Agreement (Asure Software Inc), Credit Agreement (Asure Software Inc), Credit Agreement (Asure Software Inc)

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Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments Commitments, subject to payment of Liquidated Damages in accordance with Section 2.10(e), to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an aggregate amount which is not less than of $500,000 5,000,000 or any whole multiple of $1,000,000 in excess thereof (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 3 contracts

Samples: Credit Agreement (Nuverra Environmental Solutions, Inc.), Credit Agreement (Nuverra Environmental Solutions, Inc.), First Lien Credit Agreement (Nuverra Environmental Solutions, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments to an amount (which may be zero) not less than the greater of (1) $5,000,000, and (2) the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 (unless the Revolver Commitments are being reduced to zero $5,000,000 and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,500,000), shall be made by providing not less than 10 5 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.. Each such reduction of the Revolver Commitments shall be accompanied by

Appears in 3 contracts

Samples: Credit Agreement (Daegis Inc.), Credit Agreement (Daegis Inc.), Credit Agreement (Unify Corp)

Revolver Commitments. The Revolver Commitments shall terminate on the Revolver Maturity Date. Borrower may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a2.12(a). Each such reduction shall be in an amount which is not less than $500,000 1,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 3 contracts

Samples: Loan and Security Agreement (Freshpet, Inc.), And Security Agreement (Freshpet, Inc.), And Security Agreement (Freshpet, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once The Revolver Commitments, once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 2 contracts

Samples: Credit Agreement (Delta Apparel, Inc), Credit Agreement (Delta Apparel, Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the greater of (x) $100,000,000 and (y) the sum of (Ai) the Revolver Usage as of such date, plus (Bii) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (Ciii) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero $100,000,000 and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,000105,000,000), shall be made by providing not less than 10 ten (10) Business Days Days’ prior written notice to Agent, Agent (or such shorter period as is acceptable to Agent in its discretion) and shall be irrevocableirrevocable provided that such reduction may be subject to a condition consisting of the closing and availability of funds under any financing facility or securities issuable. Once reduced, the Revolver Commitments may not be increased, except in accordance with Section 2.4(g). Each Unless otherwise agreed in writing among Borrowers, Agent and each Lender directly affected thereby, each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 2 contracts

Samples: Credit Agreement (BOISE CASCADE Co), Credit Agreement (BOISE CASCADE Co)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 2,500,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0002,500,000), shall be made by providing not less than 10 5 Business Days Days' prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 2 contracts

Samples: Credit Agreement (PROS Holdings, Inc.), Credit Agreement (PROS Holdings, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments Commitments, without premium or penalty, other than payments required pursuant to Section 2.12(b)(ii), to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,00030,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 2 contracts

Samples: Credit Agreement (Federal Signal Corp /De/), Credit Agreement (Federal Signal Corp /De/)

Revolver Commitments. The Revolver Commitments shall terminate on the Revolver Maturity Date. Borrower may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a2.12(a). Each such reduction shall be in an amount which is not less than $500,000 1,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0001,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 2 contracts

Samples: Loan and Security Agreement (Freshpet, Inc.), Loan and Security Agreement (Freshpet, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,00010,000,000), shall be made by providing not less than 10 three Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 2 contracts

Samples: Credit Agreement (FleetMatics Group PLC), Credit Agreement (FleetMatics Group PLC)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty (except for the fee provided for in Section 2.10(d) hereof), to an amount (which may be zero) not less than the sum of (A1) the Revolver Usage as of such date, plus (B1) the principal amount of all Revolving Loans not yet made as to which a request has been given by any Borrower (or Administrative Borrower on behalf of such Borrower) under Section 2.3(a), plus (C1) the amount of all Letters of Credit not yet issued as to which a request has been given by Administrative Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000 and integral multiples of $1,000,000 in excess thereof), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (Advanced Energy Industries Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Table of Contents Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 2,500,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,000), 2,500,000) shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (InfuSystem Holdings, Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by any Borrower (or Administrative Borrower on behalf of such Borrower) under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Administrative Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (K Swiss Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000), shall be made by providing not less than 10 5 Business Days prior written notice to Agent, and shall be irrevocableirrevocable (other than as provided in Section 3.5). Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share Pro Rata Share thereof.

Appears in 1 contract

Samples: Credit Agreement (Accuride Corp)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Subject to Section 2.6(e), Borrowers may reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (Cc) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000), shall be made by providing not less than 10 Business Days Days’ prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (General Finance CORP)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 2,500,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior -#PageNum#- to such reduction are less than $500,0002,500,000), shall be made by providing not less than 10 5 Business Days Days' prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (PROS Holdings, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000), shall be made by providing not less than 10 3 Business Days prior written notice to Agent, Agent and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share Pro Rata Share thereof.

Appears in 1 contract

Samples: Credit Agreement (Internap Network Services Corp)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 1,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,000)1,000,000, shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable; provided, that the Revolver Commitments shall not be in an amount less than $5,000,000. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (Streamline Health Solutions Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may from time to time reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 50,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,00050,000), shall be made by providing not less than 10 three (3) Business Days prior written notice to AgentAgent (or such shorter period as Agent may agree to in its sole discretion), and shall be irrevocable; provided that if such reduction is in connection with a refinancing of this Agreement and termination of all of the Revolver Commitments, such notice may be revocable and/or extendable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (Intapp, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 10,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,00010,000,000), shall be made by providing not less than 10 Business Days Days’ prior written notice to Administrative Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (Anixter International Inc)

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Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000), shall be made by providing not less than 10 5 Business Days prior written notice to Agent, Agent and shall be irrevocableirrevocable unless such notice specifies it is conditional on the consummation of a refinancing or other transaction, in which case such notice shall be contingent on the consummation thereof, and may be revoked by Administrative Borrower if such refinancing or other transaction fails to close. Once reduced, the Revolver Commitments may not be increased, except as provided in Section 2.1(a). Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share Pro Rata Share thereof.

Appears in 1 contract

Samples: Credit Agreement (Remy International, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 10,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,00010,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (Chiquita Brands International Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), 2.2(a) plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a2.10(a)). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and terminated and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof. Notwithstanding the foregoing, unless the Revolver Commitments are being reduced to zero and terminated, no such reduction shall result in the Revolver Commitments being reduced to an amount less than $55,000,000.

Appears in 1 contract

Samples: Credit Agreement (MGP Ingredients Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the greater of (x) $100,000,000 and (y) the sum of (Ai) the Revolver Usage as of such date, plus (Bii) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (Ciii) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero 127255152_10 $100,000,000 and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,000105,000,000), shall be made by providing not less than 10 ten (10) Business Days Days’ prior written notice to Agent, Agent (or such shorter period as is acceptable to Agent in its discretion) and shall be irrevocableirrevocable provided that such reduction may be subject to a condition consisting of the closing and availability of funds under any financing facility or securities issuable. Once reduced, the Revolver Commitments may not be increased, except in accordance with Section 2.4(g). Each Unless otherwise agreed in writing among Borrowers, Agent and each Lender directly affected thereby, each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (BOISE CASCADE Co)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 2,500,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,000)2,500,000, shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (Callidus Software Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the greater of (x) $100,000,000 and (y) the sum of (Ai) the Revolver Usage as of such date, plus (Bii) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (Ciii) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero $100,000,000 and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,000105,000,000), shall be made by providing not less than 10 ten (10) Business Days Days’ prior written notice to Agent, Agent (or such shorter period as is acceptable to Agent in its discretion) and shall be irrevocableirrevocable provided that such reduction may be subject to a condition consisting of the closing and availability of funds under any financing facility or securities issuable. Once reduced, the Revolver Commitments may not be increased, except in accordance with Section 2.4(g). Each EachUnless otherwise agreed in writing among Borrowers, Agent and each Lender directly affected thereby, each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (BOISE CASCADE Co)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the face amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such partial reduction shall be in an amount which is not less than an integral multiple of $500,000 1,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0005,000,000), shall be made by providing not less than 10 5 Business Days prior written notice to Agent, Agent and shall be irrevocableirrevocable unless such notice specifies it is conditional on the consummation of a refinancing or other transaction, in which case such notice shall be contingent on the consummation thereof, and may be revoked by Borrower if such refinancing or other transaction fails to close. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share Pro Rata Share thereof.

Appears in 1 contract

Samples: Credit Agreement (Westwood One Inc /De/)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,00040,000,000), shall be made by providing not less than 10 5 Business Days prior written notice to Agent, Agent and shall be irrevocableirrevocable unless such notice specifies it is conditional on the consummation of a refinancing or other transaction, in which case such notice shall be contingent on the consummation thereof, and may be revoked by Administrative Borrower if such refinancing or other transaction fails to close. Once reduced, the Revolver Commitments may not be increased, except as provided in Section 2.1(a). Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share Pro Rata Share thereof.

Appears in 1 contract

Samples: Credit Agreement (Remy International, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the greater of (x) $100,000,000 and (y) the sum of (Ai) the Revolver Usage as of such date, plus (Bii) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (Ciii) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 5,000,000 (unless the Revolver Commitments are being reduced to zero $100,000,000 and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,000105,000,000), shall be made by providing not less than 10 ten (10) Business Days Days’ prior written notice to Agent, Agent (or such shorter period as is acceptable to Agent in its discretion) and shall be irrevocableirrevocable provided that such reduction may be subject to a condition consisting of the closing and availability of funds under any financing facility or securities issuable. Once reduced, the Revolver Commitments may not be increased, except in accordance with Section 2.4(g). Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (BOISE CASCADE Co)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $500,000 10,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,00040,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (Power Solutions International, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments Commitments, without premium or penalty, to an amount (which may be zero) not less than the greater of (A) $40,000,000, and (B) the sum of (Ax) the Revolver Usage as of such date, plus (By) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (Cz) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower Borrowers pursuant to Section 2.11(a); provided that, in no event shall the Borrowers reduce the Revolver Commitments at any time to an amount which would be less than the outstanding principal amount of the Term Loan at such time. Each such reduction shall be in an amount which is not less than $500,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,000)5,000,000, shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Samples: Credit Agreement (Unifi Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Administrative Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Administrative Borrower pursuant to Section 2.11(a), plus (D) the aggregate amount of the Pre-Petition Obligations outstanding under the Pre-Petition Credit Facility as of such date. Each such reduction shall be in an amount which is not less than an integral multiple of $500,000 1,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $500,0001,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, Agent and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share Pro Rata Share thereof.

Appears in 1 contract

Samples: Credit Agreement (Angiotech Pharmaceuticals Inc)

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