Termination and Reduction of Revolving Credit Commitments. (a) Unless previously terminated, the Revolving Credit Commitments shall terminate on the Maturity Date.
(b) The Borrowers may at any time terminate, or from time to time reduce, the Revolving Credit Commitments; provided that (i) each reduction of the Revolving Credit Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the Borrowers shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans in accordance with Section 2.11, the Revolving Credit Exposures would exceed the total Revolving Credit Commitments.
(c) The Borrowers shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments under paragraph (b) of this Section at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Revolving Credit Lenders of the contents thereof. Each notice delivered by the Borrowers pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Credit Commitments delivered by the Borrowers may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrowers (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Credit Commitments shall be permanent. Each reduction of the Revolving Credit Commitments shall be made ratably among the Revolving Credit Lenders in accordance with their respective Revolving Credit Commitments.
Termination and Reduction of Revolving Credit Commitments. The Borrower shall have the right, upon not less than three (3) Business Days’ notice to the Administrative Agent (which shall promptly notify each Lender thereof), to terminate the Aggregate Revolving Credit Commitments or, from time to time, to reduce the amount of the Aggregate Revolving Credit Commitments; provided that no such termination or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Credit Loans made on the effective date thereof, the Available Revolving Credit Commitment of any Lender would not be greater than or equal to zero. Any such permitted reduction shall be in an amount equal to $1,000,000 or a whole multiple of $100,000 in excess thereof and shall reduce permanently the Aggregate Revolving Credit Commitments then in effect.
Termination and Reduction of Revolving Credit Commitments. (a) Unless previously terminated, the Revolving Credit Commitments shall terminate on the Revolving Credit Maturity Date.
(b) The Borrower may at any time terminate, or from time to time reduce, the Revolving Credit Commitments; provided that (A) each reduction of the Revolving Credit Commitments shall be in an amount that is an integral multiple of $500,000 and not less than $1,000,000 and (B) the Borrower shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans in accordance with Section 2.10, the sum of the Revolving Credit Exposures would exceed the Aggregate Revolving Credit Commitments.
(c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable. Any such termination or reduction shall be permanent and shall be made ratably among the Revolving Credit Lenders in accordance with their respective Revolving Credit Commitments thereto. 52450492_8
Termination and Reduction of Revolving Credit Commitments. (a) The Revolving Credit Commitments shall be automatically and permanently terminated on the Termination Date.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days' prior written notice to the Administrative Agent, the Borrower may terminate in whole or reduce in part the aggregate Unutilized Commitments, provided that any such partial reduction shall be in an aggregate amount of not less than $1,000,000 or, if greater, an integral multiple thereof. The amount of any termination or reduction made under this subsection (b) may not thereafter be reinstated.
(c) Each reduction of the Revolving Credit Commitments pursuant to this SECTION 3.5 shall be applied ratably among the Revolving Lenders according to their respective Revolving Credit Commitments.
Termination and Reduction of Revolving Credit Commitments. The Company shall have the right to terminate or reduce the Revolving Credit Commitments at any time and from time to time at its option, provided that (i) the Treasury Manager shall give three Business Days prior written notice of such termination or reduction to the Agent (with sufficient executed copies for each Bank) specifying the amount and effective date thereof, (ii) each partial reduction of the Revolving Credit Commitments shall be in a minimum amount of $10,000,000 and in integral multiples thereof and shall reduce the Revolving Credit Commitments of all of the Banks proportionately in accordance with the respective commitment amounts for each such Bank set forth in the signature pages hereof next to the name of each such Bank, (iii) no such termination or reduction shall be permitted with respect to any portion of the Revolving Credit Commitments as to which a request for a Borrowing pursuant to Section 2.4 is then pending, (iv) the Revolving Credit Commitments may not be terminated if any Loans are then outstanding and may not be reduced below the principal amount of Loans then outstanding, The Revolving Credit Commitments or any portion thereof terminated or reduced pursuant to this Section 2.2, whether optional or mandatory, may not be reinstated. The Borrowers shall immediately prepay the applicable Loans to the extent they exceed the applicable reduced aggregate Commitments pursuant hereto.
Termination and Reduction of Revolving Credit Commitments. (a) Upon at least three (3) Business Days' prior irrevocable written notice (or facsimile notice promptly confirmed in writing) to the Agent, the Borrowers may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Total Commitment, ratably among the Lenders in accordance with the amounts of their Revolving Credit Commitments; provided, however, that the Total Commitment shall not be reduced at any time to an amount less than the Revolving Credit Loans outstanding under the Revolving Credit Commitments and the Letter of Credit Usage at such time. Each partial reduction of the Total Commitment shall be in a minimum of $500,000 or an integral multiple of $100,000.
Termination and Reduction of Revolving Credit Commitments. (a) Upon at least three Business Days prior irrevocable written, telex or facsimile notice to the Agent, the Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Total Revolving Credit Commitment, ratably among the Lenders in accordance with the amounts of their respective Revolving Credit Commitments. Each partial reduction of the Total Revolving Credit Commitment shall be in a minimum of $1,000,000 and an integral multiple of $1,000,000.
(b) Simultaneously with any termination or reduction of the Total Revolving Credit Commitment pursuant to paragraph (a) of this Section 2.08, the Borrower shall pay to each Lender, through the Agent, the Revolving Credit Commitment Fee on the amount of the Revolving Credit Commitment of such Lender so terminated or reduced owed to the date of such termination or reduction.
Termination and Reduction of Revolving Credit Commitments. (a) The Company shall have the right to terminate or reduce the Revolving Credit Commitments at any time and from time to time, provided that (i) the Company shall give notice of such termination or reduction to the Agent specifying the amount and effective date thereof, (ii) each partial reduction of the Revolving Credit Commitment shall be in a minimum amount of $5,000,000 and in an integral multiple of $1,000,000 and shall reduce the Revolving Credit Commitments of all of the Lenders proportionately in accordance with the respective Revolving Credit Commitment amounts for each such Lender, (iii) no such termination or reduction shall be permitted with respect to any portion of the Revolving Credit Commitments as to which a request for an Advance pursuant to Section 2.4 is then pending, (iv) the Revolving Credit Commitments may not be terminated if any Revolving Credit Advances are then outstanding and may not be reduced below the principal amount of Revolving Credit Advances then outstanding, (v) the Revolving Credit Commitments may not be reduced below the outstanding principal amount of 14% Senior Notes, (vi) the Revolving Credit Commitments shall be automatically reduced by the unused amount of the Acquisition Amount on the Acquisition Amount Expiry Date, and (vii) the Revolving Credit Commitments shall reduce, on a pro rata basis, in 24 consecutive quarterly reductions on the last Business Day of each March, June, September and December commencing with the last Business Day of March, 1998, as follows: Date of each Quarterly Reduction of Revolving Amount of each Quarterly Amount of Annual Reduction of Revolving Credit Reductions of Revolving Credit Commitments Commitments Credit Commitments Four principal installments on the last $1,375,000 $5,500,000 Business day of March, 1998, June, 1998, September, 1998 and December, 1998 Four principal installments on the last $1,718,750 $6,875,000 Business Day of March, 1999, June, 1999, September, 1999 and December, 1999 Four principal installments on the last $2,062,500 $8,250,000 Business Day of March, 2000, June, 2000, September, 2000 and December, 2000 Four principal installments on the last $2,406,250 $9,625,000 Business Day of March, 2001, June, 2001, September, 2001 and December, 2001 Four principal installments on the last $2,750,000 $11,000,000 Business Day of March, 2002, June, 2002, September, 2002 and December, 2002 Four principal installments on the last $3,437,500 $13,750,000 Business Day of Marc...
Termination and Reduction of Revolving Credit Commitments. (a) Upon at least two (2) Business Days' prior irrevocable written notice (or facsimile notice promptly confirmed in writing) to the Administrative Agent, the Borrowers may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Total Revolving Credit Commitment, ratably among the Lenders in accordance with the amounts of their Revolving Credit Commitments; provided, however, that the Total Revolving Credit Commitment shall not be reduced at any time to an amount less than the Revolving Credit Loans outstanding under the Revolving Credit Commitments and the Letter of Credit Usage at such time. Each partial reduction of the Total Revolving Credit Commitment shall be in a minimum of $100,000 or an integral multiple of $100,000.
Termination and Reduction of Revolving Credit Commitments. (a) Upon at least three (3) Business Days' prior irrevocable written, facsimile or telephonic notice (promptly confirmed by written or facsimile notice) to the Agent, the Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Total Revolving Credit Commitment, ratably among the Lenders in accordance with the amounts of their Revolving Credit Commitments, subject to payment of the Prepayment Fee on the amount of such termination or reduction, if applicable; provided, however, that the Total Revolving Credit Commitment shall not be reduced at any time to an amount less than the Revolving Credit Loans outstanding under the Revolving Credit Commitments and the Letter of Credit Obligations at such time. Each partial reduction of the Total Revolving Credit Commitment shall be in a minimum of $100,000 or an integral multiple of $100,000.
(b) The Revolving Credit Commitment of each Lender shall automatically and permanently terminate on the Revolving Credit Termination Date, and all Revolving Credit
