Common use of Termination or Reduction of Revolving Commitments Clause in Contracts

Termination or Reduction of Revolving Commitments. The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Loans made on the effective date thereof pursuant to Section 2.9, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,000, or an integral multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 5 contracts

Samples: Credit Agreement (Northern Illinois Gas Co /Il/ /New/), Credit Agreement (Agl Resources Inc), Credit Agreement (Nicor Inc)

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Termination or Reduction of Revolving Commitments. The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Loans made on the effective date thereof pursuant to Section 2.9, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,000, or an integral multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 3 contracts

Samples: Credit Agreement (Agl Resources Inc), Credit Agreement (Agl Resources Inc), Credit Agreement (Agl Resources Inc)

Termination or Reduction of Revolving Commitments. The Borrower shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate any of the Revolving Commitments or, from time to time, to reduce the amount of any of the Revolving Commitments; provided provided, that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Loans made on the effective date thereof pursuant to Section 2.9thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an a minimum amount equal to $10,000,0005,000,000, or an integral a whole multiple of $1,000,000 in excess thereofthereof (or, if the then aggregate Revolving Commitments are less than $5,000,000, such lesser amount), and shall reduce permanently the relevant Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Tesoro Petroleum Corp /New/), 364 Day Revolving Credit Agreement (Tesoro Petroleum Corp /New/)

Termination or Reduction of Revolving Commitments. The Borrower Except as otherwise required by Section 2.8(d) hereof, the Borrowers shall have the right, upon not less than three (3) Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that (a) no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Loans made on the effective date thereof pursuant to thereof, any of the limitations set forth in Section 2.92.1(a) would be exceeded, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any and (b) any such reduction shall be in an amount equal to $10,000,0001,000,000, or an integral a whole multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 2 contracts

Samples: Credit Agreement (DFC Global Corp.), Credit Agreement (Dollar Financial Corp)

Termination or Reduction of Revolving Commitments. The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Loans made on the effective date thereof pursuant to Section 2.92.7, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,000, or an integral multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Agl Resources Inc)

Termination or Reduction of Revolving Commitments. The Borrower Subject to Section 2.9, ASC shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof pursuant to Section 2.9thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,000500,000, or an integral a multiple of $1,000,000 100,000 in excess thereof, shall be made pro rata to the Revolving Commitments of all Revolving Lenders and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (American Skiing Co /Me)

Termination or Reduction of Revolving Commitments. The Borrower shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans made on the effective date thereof pursuant to Section 2.92.7, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,000, or an integral multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Agl Resources Inc)

Termination or Reduction of Revolving Commitments. (a) The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans made on the effective date thereof pursuant to Section 2.9thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,0001,000,000, or an integral a whole multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction . (b) Notices under this Section 2.7 shall be made by a Responsible Officer on behalf of the Revolving CommitmentsBorrower.

Appears in 1 contract

Samples: Credit Agreement (Newpark Resources Inc)

Termination or Reduction of Revolving Commitments. The Borrower shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans made on the effective date thereof pursuant to Section 2.9thereof, the Total Revolving Extensions of Credit and the Swingline Exposure would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,0001,000,000, or an integral multiple of $1,000,000 500,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Lifepoint Hospitals Holdings Inc)

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Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided provided, that no such -------- termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans made on the effective date thereof pursuant to Section 2.9thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,0001,000,000, or an integral a whole multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (City Truck Holdings Inc)

Termination or Reduction of Revolving Commitments. The Borrower shall have the right, upon not less than three Business Days' notice to the Co-Administrative AgentAgents, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided PROVIDED that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans made on the effective date thereof pursuant to Section 2.9thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,0005,000,000, or an integral multiple whole multiples of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Energy Corp)

Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans made on the effective date thereof pursuant to Section 2.9thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,0001,000,000, or an integral a whole multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Westar Energy Inc /Ks)

Termination or Reduction of Revolving Commitments. The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans made on the effective date thereof pursuant to Section 2.92.7, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,000, or an integral multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Agl Resources Inc)

Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- shall have the right, upon not less than three seven Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans made on the effective date thereof pursuant to Section 2.9thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,0001,000,000, or an integral a whole multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Lifepoint Hospitals Inc)

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