Common use of Termination and Reductions of Commitments Clause in Contracts

Termination and Reductions of Commitments. (i) The aggregate amount of the Revolving Credit Commitments shall be automatically and permanently reduced to zero on the Revolving Credit Commitment Termination Date. The aggregate amount of Revolving Credit Commitments shall be permanently reduced on the date any required prepayments described in Section 2.10(a) are required to be made in the amount specified in Section 2.10(b)(ii). (ii) The aggregate amount of the Term Loan Commitments shall be automatically and permanently reduced to zero immediately after the making of the Term Loans on the Closing Date. (b) Borrower shall have the right at any time or from time to time (without premium or penalty except breakage costs (if any)) (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities will be outstanding as of the date specified for termination, to terminate the Revolving Credit Commitments, and (ii) to reduce the aggregate amount of the Unutilized Revolving Credit Commitments of all the Revolving Credit Lenders; PROVIDED, HOWEVER, that (x) Borrower shall give notice of each such termination or reduction as provided in Section 4.05, and (y) each partial reduction shall be in an aggregate amount at least equal to $5.0 million (or a larger multiple of $1.0 million) or, if less, the remaining Revolving Credit Commitments. (c) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Atrium Companies Inc)

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Termination and Reductions of Commitments. (ia) The aggregate amount of the Revolving Credit Commitments shall be automatically and permanently reduced to zero on the Revolving Credit Commitment Termination Date. The aggregate amount of Revolving Credit Commitments shall be permanently reduced on the date any required prepayments described in Section 2.10(a) are required to be made in the amount specified in Section 2.10(b)(ii). (ii) . The aggregate amount of the Term Loan Commitments shall be automatically and permanently reduced to zero immediately after the making of the Term Loans on the Closing Date. (b) Borrower shall have the right at any time or from time to time (without premium or penalty except breakage costs (if any)) (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities will be outstanding as of the date specified for termination, to terminate the Revolving Credit Commitments, and (ii) to reduce the aggregate amount of the Unutilized Revolving Credit Commitments of all the Revolving Credit Lenders; PROVIDEDprovided, HOWEVERhowever, that (x) Borrower shall give notice of each such termination or reduction as provided in Section 4.05, and (y) each partial reduction shall be in an aggregate amount at least equal to $5.0 million (or a larger multiple of $1.0 million) or, if less, the remaining Revolving Credit Commitments. (c) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Atrium Companies Inc)

Termination and Reductions of Commitments. (i) The aggregate amount of the Revolving Credit Commitments shall be automatically and permanently reduced to zero on the Revolving Credit Commitment Termination Date. The aggregate amount of Revolving Credit Commitments shall be permanently reduced on the date any required prepayments described in Section 2.10(a) are required to be made in the amount specified in Section 2.10(b)(ii). (ii) The aggregate amount of the Term Loan Commitments shall be automatically and permanently reduced to zero immediately after the making of the Term Loans on the Closing Amendment and Restatement Date. (b) Borrower shall have the right at any time or from time to time (without premium or penalty except breakage costs (if any)) (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities will be outstanding as of the date specified for termination, to terminate the Revolving Credit Commitments, and (ii) to reduce the aggregate amount of the Unutilized Revolving Credit Commitments of all the Revolving Credit Lenders; PROVIDED, HOWEVER, that (x) Borrower shall give notice of each such termination or reduction as provided in Section 4.05, and (y) each partial reduction shall be in an aggregate amount at least equal to $5.0 million (or a larger multiple of $1.0 million) or, if less, the remaining Revolving Credit Commitments. (c) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Atrium Companies Inc)

Termination and Reductions of Commitments. (ia) The aggregate amount of the Revolving Credit Commitments shall be automatically and permanently reduced to zero on the Revolving Credit Commitment Termination Date. The aggregate amount of Revolving Credit Commitments shall be permanently reduced on the date any required prepayments described in Section 2.10(a) are required to be made in the amount specified in Section 2.10(b)(ii). (ii) The aggregate amount of the Term Loan Commitments shall be automatically and permanently reduced to zero on the Closing Date immediately after the making of the Term Loans on the Closing Date. (b) Borrower shall have the right at any time or from time to time (without premium or penalty except breakage costs (if any)) (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities will be outstanding as of the date specified for termination, to terminate the Revolving Credit Commitments, and Commitments or (ii) to reduce the aggregate amount of the Unutilized Revolving Credit Commitments of all the Revolving Credit Lenders; PROVIDED, HOWEVER, that (x) Borrower shall give notice of each such termination or reduction as provided in Section 4.05, 4.05 and (y) each partial reduction shall be in an aggregate amount at least equal to $5.0 1.0 million (or a larger multiple of $1.0 million) or, if less, the remaining Revolving Credit Commitments100,000). (c) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Imco Recycling Inc)

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Termination and Reductions of Commitments. (ia) The Commitments ----------------------------------------- shall be automatically and permanently terminated on November 30, 1998 if the Closing Date does not occur by said date. The aggregate amount of the Revolving Credit Commitments shall be automatically and permanently reduced to zero on the Revolving Credit Commitment Termination Date. The aggregate amount of Revolving Credit Commitments shall be permanently reduced on the date any required prepayments described in Section 2.10(a) are required to be made in the amount specified in Section 2.10(b)(ii). (ii) The aggregate amount of the Term Loan Commitments shall be automatically and permanently reduced to zero on the Closing Date immediately after the making of the Term Loans on the Closing Date. (b) Borrower shall have the right right, at any time or from time to time (without premium or penalty except breakage costs (if any)) (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities will be outstanding as of the date specified for termination, to terminate the Revolving Credit Commitments, and (ii) to reduce the aggregate amount of the Unutilized Revolving Credit Commitments of all the Revolving Credit Lenders; PROVIDEDprovided, HOWEVER-------- however, that (x) Borrower shall give notice of each such termination or ------- reduction as provided in Section 4.05, and (y) each partial reduction shall be in an aggregate amount at least equal to $5.0 1.0 million (or a larger multiple of $1.0 million) or, if less, the remaining Revolving Credit Commitments100,000). (c) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Krasovec Frank P)

Termination and Reductions of Commitments. (ia) The aggregate amount of the Revolving Credit Commitments shall be automatically and permanently reduced to zero on the Revolving Credit Commitment Termination Date. The aggregate amount of Revolving Credit Commitments shall be permanently reduced on the date any required prepayments described in Section 2.10(a) are required to be made in the amount specified in Section 2.10(b)(ii). (ii) . The aggregate amount of the Term Loan Commitments shall be automatically and permanently reduced to zero immediately after the making of the Term Loans on the Closing Date. (ba) Borrower shall have the right at any time or from time to time (without premium or penalty except breakage costs (if any)) (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities will be outstanding as of the date specified for termination, to terminate the Revolving Credit Commitments, and (ii) to reduce the aggregate amount of the Unutilized Revolving Credit Commitments of all the Revolving Credit Lenders; PROVIDEDprovided, HOWEVERhowever, that (x) Borrower shall give notice of each such termination or reduction as provided in Section 4.05, and (y) each partial reduction shall be in an aggregate amount at least equal to $5.0 million (or a larger multiple of $1.0 million) or, if less, the remaining Revolving Credit Commitments. (cb) The Commitments once terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Atrium Companies Inc)

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