Termination and Reduction. The Borrower shall have the right, upon at least two Business Days' notice to the Agent, to terminate in whole or reduce each Lender's Pro Rata Share of the unused Commitments, provided that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Uncommitted Advances then outstanding. Each partial reduction of the Commitments shall be in the aggregate amount of at least $10,000,000 or a larger whole multiple of $1,000,000.
Appears in 4 contracts
Samples: Credit Agreement (Stanley Works), Credit Agreement (Stanley Works), Credit Agreement (Stanley Works)
Termination and Reduction. The Borrower shall have the right, upon at least two Business Days' notice to the Administrative Agent, to terminate in whole or reduce each Lender's Pro Rata Share of the unused Commitments, provided that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Uncommitted Advances then outstanding. Each partial reduction of the Commitments shall be in the aggregate amount of at least $10,000,000 or a larger whole multiple of $1,000,000.
Appears in 3 contracts
Samples: Credit Agreement (Stanley Works), Credit Agreement (Stanley Works), Credit Agreement (Stanley Works)
Termination and Reduction. The Borrower shall have the right, upon at least two Business Days' β notice to the Administrative Agent, to terminate in whole or reduce each Lender's βs Pro Rata Share of the unused Commitments, provided that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Uncommitted Advances then outstanding. Each partial reduction of the Commitments shall be in the aggregate amount of at least $10,000,000 or a larger whole multiple of $1,000,000.
Appears in 1 contract
Samples: Credit Agreement (Stanley Works)
