Common use of Termination or Reduction of Commitments Clause in Contracts

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five Business Days' notice to the Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect.

Appears in 3 contracts

Samples: Credit Agreement (Big City Radio Inc), Credit Agreement (Big City Radio Inc), Credit Agreement (Adams Outdoor Advertising LTD Partnership)

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Termination or Reduction of Commitments. (a) The Borrower shall have the rightright at any time during the Commitment Period, upon not less than five Business Days' notice to the Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 1,000,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect.

Appears in 2 contracts

Samples: Credit Agreement (Rockefeller Center Properties Inc), Credit Agreement (Rcpi Trust /De/)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five three (3) Business Days' notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to at least $100,000 1,000,000 or a any larger whole multiple thereof thereof, and shall reduce permanently the Commitments then in effect. The Commitments shall terminate in full upon the occurrence of the end of the Commitment Period.

Appears in 2 contracts

Samples: Term Loan Agreement (Bungeltd), Term Loan Agreement (Bungeltd)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five three Business Days' notice to the Administrative Agent, to terminate the Commitments or, from time to timetime on or before June 30, 2005, to reduce the amount of the Commitments. Any such reductions shall be in an aggregate amount equal to or less than $135,000,000, and each such reduction shall be in an amount equal to $100,000 or a whole multiple thereof of $1,000,000 and shall reduce permanently the Commitments then in effect.

Appears in 2 contracts

Samples: Loan Agreement (Century Aluminum Holdings, Inc.), Loan Agreement (Century Louisiana, Inc.)

Termination or Reduction of Commitments. (a) The Borrower shall have the rightmay, upon not less than five three Business Days' written notice to the Administrative Agent, to terminate the Commitments or, from time to time, to or reduce the unutilized amount of the Commitments. Any such reduction of the Commitments shall be in an amount equal to $100,000 10,000,000 or a whole multiple of $1,000,000 in excess thereof and shall reduce permanently the Commitments then in effect.

Appears in 2 contracts

Samples: Credit Agreement (Virginia Electric & Power Co), Credit Agreement (Dominion Resources Inc /Va/)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five Business Days' notice to the Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 1,000,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect.

Appears in 2 contracts

Samples: Credit Agreement (Brown Tom Inc /De), Credit Agreement (Brown Tom Inc /De)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five Business Days' notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce the aggregate amount of the CommitmentsCommitments to an amount that is not less than the aggregate principal amount of all outstanding Loans. Any such reduction shall be in an amount equal to $100,000 5,000,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Lender thereof.

Appears in 2 contracts

Samples: Credit Agreement (Affiliated Managers Group Inc), Credit Agreement (Affiliated Managers Group Inc)

Termination or Reduction of Commitments. (a) The Borrower shall --------------------------------------- have the right, upon not less than five Business Days' notice to the Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Adams Outdoor Advertising Inc)

Termination or Reduction of Commitments. (a) The Borrower shall have the rightmay, at any time upon not less than five at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce in part the Commitments; provided that (i) each partial reduction of the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an aggregate amount equal to of $100,000 5,000,000 or a whole an integral multiple of $1,000,000 in excess thereof and (ii) any such termination or reduction shall reduce permanently be made ratably among the Commitments then Lenders in effectaccordance with their Commitments.

Appears in 1 contract

Samples: Credit Agreement (Allegheny Energy Supply Co LLC)

Termination or Reduction of Commitments. (a) The Borrower Borrowers shall have the right, upon not less than five one Business Days' Day's prior notice to the AgentAdministrative Agent (who shall notify the Lenders), to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 1,000,000 or a whole multiple of $100,000 in excess thereof and shall reduce permanently the Commitments then in effect. In addition, the Commitments shall be permanently reduced as set forth in Sections 2.8(b)(iii) and (iv).

Appears in 1 contract

Samples: Credit Agreement (Telscape International Inc)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five three Business Days' notice to the Administrative Agent, to terminate the Commitments when no Loans or Letters of Credit are then outstanding or, from time to time, to reduce the amount unutilized portion of the Commitments. Any such reduction shall be in an amount equal to $100,000 10,000,000 or a whole multiple of $1,000,000 in excess thereof and shall reduce permanently the Commitments then in effect.

Appears in 1 contract

Samples: Delphi Automotive Systems Corp

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five Business Days' notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce the aggregate amount of the CommitmentsCommitments to an amount that is not less than the aggregate principal amount of all outstanding Loans. Any such reduction shall be in an amount equal to $100,000 5,000,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Managers Group Inc)

Termination or Reduction of Commitments. (a) The Borrower Company shall have the right, upon not less than five Business Days' notice to the Agent, to terminate the Commitments when no Loans are then outstanding or, from time to time, to reduce the amount unutilized portion of the Commitments. Any such reduction shall be in an amount equal to $100,000 10,000,000 or a whole multiple of $10,000,000 in excess thereof and shall reduce permanently the Commitments then in effect.

Appears in 1 contract

Samples: Residential Funding Corp

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five three Business Days' notice to the Administrative Agent, to terminate any of the Commitments or, from time to time, to reduce the amount of any of the Commitments. Any such reduction shall be in an amount equal to $100,000 1,000,000, or a whole multiple thereof thereof, and shall reduce permanently the applicable Commitments then in effect.

Appears in 1 contract

Samples: Collateral Agreement (Sirius Satellite Radio Inc)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five Business Days' written notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 5,000,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect. The Administrative Agent shall promptly send a copy of any notices of reduction or termination of the Commitments to each of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Phelps Dodge Corp)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five two Business Days' notice to the Administrative Agent, to terminate the Commitments when no Loans or Letters of Credit are then outstanding or, from time to time, to reduce the amount unutilized portion of the Commitments. Any such reduction pursuant to this Section 2.4 shall be in an amount equal to $100,000 10,000,000 or a whole multiple of $1,000,000 in excess thereof and shall reduce permanently the Commitments then in effect, and the fees payable pursuant to Section 2.11 shall then reflect the reduced Commitments.

Appears in 1 contract

Samples: Credit Agreement (Gannett Co., Inc.)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five one Business Days' Day’s notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce reduce, in whole or in part, the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 1,000,000, or a whole multiple thereof thereof, and shall reduce permanently the Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Super MergerSub Inc.)

Termination or Reduction of Commitments. (a) The Borrower Borrowers shall have the right, upon not less than five four Business Days' notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 5,000,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect.

Appears in 1 contract

Samples: Multi Currency, Multi Option Credit Agreement (Harman International Industries Inc /De/)

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Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five Business Days' notice to the Agent, to terminate the Commitments oror , from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 1,000,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Brown Tom Inc /De)

Termination or Reduction of Commitments. (a) The Borrower Borrowers shall --------------------------------------- have the right, upon not less than five one Business Days' Day's prior notice to the AgentAdministrative Agent (who shall notify the Lenders), to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 1,000,000 or a whole multiple of $100,000 in excess thereof and shall reduce permanently the Commitments then in effect. In addition, the Commitments shall be permanently reduced as set forth in Sections 2.8(b)(iii) and (iv).

Appears in 1 contract

Samples: Credit Agreement (Telscape International Inc)

Termination or Reduction of Commitments. (a) The From and after the Execution Date, the Borrower shall have the right, upon not less than five three Business Days' notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitmentsthereof. Any such reduction shall be in an amount equal to of $100,000 10,000,000, or a whole multiple thereof of $5,000,000 in excess thereof, and shall reduce permanently the amount of such Commitments then in effect.

Appears in 1 contract

Samples: Term Loan Agreement (Phillips 66)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five Business Days' notice to the Agent, to terminate the Term Loan Commitments or, from time to time, to reduce the amount of the Term Loan Commitments. Any such reduction shall be in an amount equal to $100,000 1,000,000 or a whole multiple of $100,000 in excess thereof and shall reduce permanently the Term Loan Commitments then in effect.. 38 33

Appears in 1 contract

Samples: Credit Agreement (Polo Ralph Lauren Corp)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, prior to the Closing Date, upon not less than five three Business Days' notice to the Administrative Agent, to terminate the Commitments or, from time to time, to ratably reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 10,000,000, or a whole an integral multiple thereof of $1,000,000 in excess thereof, and shall reduce permanently the Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Commitments.

Appears in 1 contract

Samples: Bridge Term Loan Credit Agreement (Agl Resources Inc)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five Business Days' notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce the aggregate amount of the CommitmentsCommitments to an amount that is not less than the aggregate principal amount of all outstanding Loans. Any such reduction shall be in an amount equal to $100,000 5,000,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Managers Group Inc)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five Business Days' notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 5,000,000 or a whole multiple thereof and shall reduce permanently the Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Affiliated Managers Group Inc)

Termination or Reduction of Commitments. (a) The Borrower shall have the rightmay, upon not less than five Business Days' ’ prior notice to the Agent, to terminate the Commitments, or permanently reduce the Commitments orby a minimum amount of U.S.$1,000,000 or a higher integral multiple of U.S.$500,000; unless, from time after giving effect thereto and to timeany prepayments of Loans made on the effective date thereof, to reduce the Total Outstandings would exceed the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 or a whole multiple thereof and shall reduce permanently the combined Commitments then in effect.

Appears in 1 contract

Samples: Bridge Credit Agreement (Lance Inc)

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five three Business Days' notice to the AgentAdministrative Agent (which will promptly notify the Lenders thereof), to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $100,000 1,000,000 or a whole multiple of $1,000,000 in excess thereof and shall reduce permanently the Commitments then in effect."

Appears in 1 contract

Samples: Amendment and Restatement (Kroger Co)

Termination or Reduction of Commitments. (a) The Borrower shall have the rightmay, upon -------------------------------------------- not less than five three Business Days' written notice to the Administrative Agent, to terminate the Commitments or, from time to time, to or reduce the unutilized amount of the Commitments. Any such reduction of the Commitments shall be in an amount equal to $100,000 10,000,000 or a whole multiple of $1,000,000 in excess thereof and shall reduce permanently the Commitments then in effect.

Appears in 1 contract

Samples: Virginia Electric & Power Co

Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than five three Business Days' notice to the Administrative Agent, to terminate the Delayed-Draw Term Commitments or, from time to time, to reduce the amount of the Available Delayed-Draw Term Commitments. Any such reduction shall be in an amount equal to $100,000 1,000,000, or a whole multiple thereof thereof, and shall reduce permanently the Available Delayed-Draw Term Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Knight Capital Group, Inc.)

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