Termination and Reduction of the Commitments. (a) Unless previously terminated, the Commitments shall terminate on the Termination Date.
(b) The Borrower may, at any time and from time to time, upon not less than three Business Days' prior notice to the Administrative Agent, terminate the Aggregate Commitments or permanently reduce the Aggregate Commitments by an aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof; provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto and to any prepayment of Loans made on the effective date thereof, the then outstanding principal amount of Committed Loans and Bid Loans would exceed the Aggregate Commitments then in effect and, provided, further, that once reduced in accordance with this Section 2.06, the Aggregate Commitments may not be increased. Any reduction of the Aggregate Commitments shall be applied to each Lender's Commitment in accordance with such Lender's Percentage Share.
Termination and Reduction of the Commitments. (a) The Commitment of each Lender shall be automatically reduced to zero on the earliest to occur of (i) the Commitment Termination Date and (ii) the funding of such Lender’s Loans. All accrued fees shall be due and payable on the date the Commitments are reduced to zero.
(b) The Borrower shall have the right, prior to the Closing Date upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the respective Commitments of the Lenders; provided that each partial reduction shall be in an aggregate amount of at least $2,500,000 or an integral multiple of $1,000,000 in excess thereof. Once reduced or terminated, the Commitments may not be reinstated.
(c) Upon the occurrence of any Prepayment Event prior to the Closing Date, the Borrower shall, within three Business Days, deposit 100% of the Net Cash Proceeds of such Prepayment Event into the Escrow Account, whereupon the Commitments shall automatically be reduced in an aggregate amount equal to 100% of the Net Cash Proceeds of such Prepayment Event. Each Lender’s Commitment shall be reduced pro rata by the amount of such reduction. If such reductions results in the Commitments being reduced to zero, all accrued fees shall be payable upon such reduction. Promptly (and in any event within three Business Days) following the occurrence of a Prepayment Event prior to the Closing Date, the Borrower shall deliver notice in writing to the Administrative Agent describing the Prepayment Event and containing a reasonably detailed calculation of the Net Cash Proceeds of such Prepayment Event. In the event that the Closing Date occurs after the occurrence of such Prepayment Event but prior to the deposit of the Net Cash Proceeds thereof in the Escrow Account, such Net Cash Proceeds shall be required to be applied to prepay the Loans in accordance with Section 2.09(c) on the last day of the three Business Day period referred to in this clause (c). For the avoidance of doubt, any amount required to be credited to the Escrow Account denominated in a currency other than US dollars may be converted into US dollars by or on behalf of the Borrower and this Section 2.04(c) shall apply in respect of such converted amount.
Termination and Reduction of the Commitments. At the close of business on the last Business Day of the Availability Period, the Commitments shall automatically and without notice be reduced to zero, and once borrowed or repaid, the Loan may not be reborrowed.
Termination and Reduction of the Commitments. Scheduled Termination
8.1 Unless previously terminated, the unutilised Commitments shall terminate at the close of business on the Commitment Termination Date.
Termination and Reduction of the Commitments. (a) Unless previously terminated, the Term Commitments and the Revolving Commitments shall terminate on the Commitment Termination Date.
(b) The Company may at any time terminate, or from time to time reduce, the Commitments of either Class; provided that (i) each reduction of the Commitments pursuant to this Section shall be in an amount that is $25,000,000 or a larger multiple of $1,000,000, (ii) the Company shall not terminate or reduce the Term Commitments except to the extent required under Section 2.09, (iii) the Company shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans in accordance with Section 2.08, the total Revolving Exposures would exceed the total Revolving Commitments, and (iv) each request for each such reduction shall be accompanied by a certificate of a Responsible Officer demonstrating (to the reasonable satisfaction of the Administrative Agent) compliance by the Company with Section 8.04 after giving effect to such reduction.
(c) The Company shall notify the Administrative Agent and the Collateral Agent of any election to terminate or reduce the Commitments of either Class 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 Company pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments of either Class delivered by the Company may state that such notice is conditioned upon the effectiveness of other credit facilities or upon the issuance of other indebtedness, in which case such notice may be revoked by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.
(d) The Commitments shall reduce automatically on the date of any prepayment of Loans made pursuant to this Section or Section 2.09 in an amount equal to the amount of such prepayment.
(e) Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments of a Class shall be made ratably among the Lenders with respect to such Class in accordance with their respective Commitments.
Termination and Reduction of the Commitments. (a) Scheduled Termination. Unless previously terminated in accordance with the terms hereof, the Commitments shall terminate on the Maturity Date.
Termination and Reduction of the Commitments. (a) Unless previously terminated, the Tranche A Term Loan Commitments shall terminate on the earlier to occur of (x) the date that is ten (10) Business Days after the occurrence of the Signing Date and (y) at 5:00 p.m. on the Effective Date.
Termination and Reduction of the Commitments. (i) The Company may, at any time, upon not less than thirty days' prior written notice to the Agent, a copy of which shall be promptly provided by the Agent to each Lender, reduce the aggregate Commitment Amounts, with any such reduction in a minimum amount of $10,000,000, or, if more, in an integral multiple of $5,000,000 in excess thereof; provided, that the Company may not reduce the aggregate Commitment Amounts below the aggregate principal amount of outstanding Loans. The Company may, upon not less than thirty days' prior written notice to the Agent, a copy of which shall be promptly provided by the Agent to each Lender, terminate the Commitments in their entirety. Upon termination of the Commitments pursuant to this Section, the Company shall pay to the Agent the aggregate amount of all outstanding Loans, all accrued and unpaid interest thereon, any unpaid fees accrued to the date of such termination and all other unpaid obligations of the Company to the Lenders in respect of their Commitments hereunder.
(ii) Notwithstanding the foregoing, any termination of the Commitments pursuant to Section 6.02 shall supersede any notice of termination or reduction under this Section 2.01(g). Once the Commitments have been terminated or reduced, they may not be reinstated.
Termination and Reduction of the Commitments. Section 2.06(a) of the Credit Agreement is hereby amended to read in its entirety as follows:
Termination and Reduction of the Commitments. Scheduled Termination
