Termination or Reduction of Term Commitments Sample Clauses

Termination or Reduction of Term Commitments. The aggregate Term Commitments shall be automatically and permanently reduced to zero on the date of the Borrowing.
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Termination or Reduction of Term Commitments. Prior to the Commitment Termination Date, the Borrower shall have the right, upon not less than three Business Days’ irrevocable notice to the Administrative Agent, to terminate the Term Commitments or, from time to time, to reduce the amount of the Term Commitments; provided that a notice of termination of the Term Commitments delivered by the Borrower may state that such notice is conditioned upon the occurrence of any stated event, including the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified termination date) if such condition is not satisfied. Any such reduction shall be in an amount equal to $50,000,000 or a whole multiple of $5,000,000 in excess thereof and shall reduce permanently the Term Commitments then in effect. To the extent not previously terminated pursuant to this Section 2.13, all unused Term Commitments hereunder shall terminate on the Commitment Termination Date after giving effect to any borrowing of the Loans on the Commitment Termination Date.
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Termination or Reduction of Term Commitments. The Borrower may, upon notice to the Administrative Agent, terminate or reduce the unused portion of the Term Commitments; provided, that (a) each such notice shall be in writing and, unless waived by the Administrative Agent, must be received by the Administrative Agent at least three (3) Business Days prior to the effective date of such termination or reduction, and shall be irrevocable and (b) any such partial reduction shall be in an aggregate amount of $1,000,000 or a larger multiple of $500,000. The Administrative Agent will promptly notify the Lenders of any termination or reduction of the Term Commitments, pursuant to this Section. Upon any reduction of unused Term Commitments, the Term Commitment of each Lender shall be reduced by such Lender’s ratable share of the amount of such reduction.
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Termination or Reduction of Term Commitments 
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Related to Termination or Reduction of Term Commitments

  • Termination or Reduction of the Commitments (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reduction.

  • Termination or Reduction of Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

  • Termination Reduction or Increase of the Commitments (a) The Company shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that (x) 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 Competitive Bid Advances then outstanding, and (y) once terminated, a portion of a Commitment shall not be reinstated except pursuant to Section 2.05(c).

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