Common use of Revolving Credit Termination Clause in Contracts

Revolving Credit Termination. The Borrowers shall have the right at any time upon 5 days' prior notice to the Banks to terminate the Revolving Credit in whole or in part (but if in part in a minimum principal amount of $10,0000,000 or such greater amount which is an integral multiple of $5,000,000); provided, however, that the Borrowers may not terminate any portion of the Revolving Credit which represents outstanding Loans unless the Borrowers contemporaneously prepay the same.

Appears in 1 contract

Samples: Mississippi Chemical Corp /MS/

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Revolving Credit Termination. The Borrowers Borrower shall have the right at any time upon 5 days' prior notice to the Banks to terminate the Revolving Credit in whole or in part (but if in part in a minimum principal amount of $10,0000,000 10,000,000 or such greater amount which is an integral multiple of $5,000,000); provided, however, that the Borrowers Borrower may not terminate any portion of the Revolving Credit which represents outstanding Loans Revolving Credit Obligations unless the Borrowers Borrower contemporaneously prepay prepays the same or, with respect to any outstanding L/Cs, pledges cash collateral to the Administrative Agent to secure the same.

Appears in 1 contract

Samples: Credit Agreement (Mississippi Chemical Corp /MS/)

Revolving Credit Termination. The Borrowers shall have the right at any time upon 5 days' prior notice to the Banks to terminate the Revolving Credit in whole or in part (but if in part in a minimum principal amount of $10,0000,000 or such greater amount which is an integral multiple of $5,000,000); provided, however, that the Borrowers may not terminate any portion of the Revolving Credit which represents outstanding Loans Revolving Credit Obligations unless the Borrowers contemporaneously prepay the same or, with respect to any outstanding L/Cs, pledge cash collateral to the Administrative Agent to secure the same.

Appears in 1 contract

Samples: Credit Agreement (Mississippi Chemical Corp /MS/)

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Revolving Credit Termination. (a) The Borrowers Borrower shall have the right at any time upon 5 days' prior notice to the Banks to terminate the Revolving Credit in whole or in part (but if in part in a minimum principal amount of $10,0000,000 10,000,000 or such greater amount which is an integral multiple of $5,000,000); provided, however, that the Borrowers Borrower may not terminate any portion of the Revolving Credit which represents outstanding Loans Revolving Credit Obligations unless the Borrowers Borrower contemporaneously prepay prepays the same or, with respect to any outstanding L/Cs, pledges cash collateral to the Administrative Agent to secure the same.

Appears in 1 contract

Samples: Credit Agreement (Mississippi Chemical Corp /MS/)

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