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

Termination or Reduction of the Commitments. The Borrower 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 $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstated.

Appears in 5 contracts

Samples: Revolving Credit Agreement (Oracle Corp), 364 Day Revolving Credit Agreement (Oracle Corp /De/), Revolving Credit Agreement (Oracle Corp)

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Termination or Reduction of the Commitments. The Borrower 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 $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstatedthereof.

Appears in 4 contracts

Samples: Credit Agreement (Mirant Americas Generating LLC), Credit Agreement (Mirant Corp), Credit Agreement (Mirant Corp)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction of the Total Commitment shall be in the aggregate amount of $10,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstatedthereof.

Appears in 4 contracts

Samples: Credit Agreement (Invesco Ltd.), Credit Agreement (Invesco Ltd.), Credit Agreement (Invesco Ltd.)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the unused portions Unused Commitments or the Unissued Letter of the respective Credit Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstatedthereof.

Appears in 3 contracts

Samples: Credit Agreement (Sra International Inc), Credit Agreement (Hill-Rom Holdings, Inc.), Credit Agreement (Hillenbrand, Inc.)

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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the thereof. (b) The aggregate amount of the Commitments of the Lenders shall not be automatically reduced to an amount that is less than zero on the sum of the total Revolving Credit Exposures then outstanding and provided further that Termination Date. (c) The Commitments once terminated, a Commitment terminated or reduced may not be reinstated.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc), Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc)

Termination or Reduction of the Commitments. The Borrower 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 $10,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstated.

Appears in 2 contracts

Samples: 364 Day Term Loan Agreement (Oracle Corp /De/), 364 Day Term Loan Agreement (Oracle Corp /De/)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three (3) 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 (a) each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof thereof; and provided further that (b) the aggregate amount of the Commitments of the Lenders all Commitments, upon such reduction, shall not be reduced to an amount that is less than the sum aggregate principal amount of the total Revolving Credit Exposures all Utilizations then outstanding and provided further that once terminated, a Commitment may not be reinstatedoutstanding.

Appears in 2 contracts

Samples: Credit Agreement (Southern Power Co), Credit Agreement (Southern Power Co)

Termination or Reduction of the Commitments. The Borrower 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 PROVIDED that each partial reduction shall be in the aggregate amount of $10,000,000 1,000,000 or an integral multiple of $1,000,000 multiple in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstatedthereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (Foundation Health Systems Inc)

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Termination or Reduction of the Commitments. The Borrower Borrowers shall have the right, upon at least three Business Days’ notice signed by both Borrowers to the AgentAdministrative Agent (which shall promptly notify each Lender), 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 $10,000,000 15,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of thereof. Once terminated or reduced, the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstated, except as provided in Section 2.16.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ambac Financial Group Inc)

Termination or Reduction of the Commitments. 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 part, in each case permanently, the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that which is less than the sum aggregate amount of the total Revolving Credit Exposures A Advances and the B Advances then outstanding and provided further that once terminated, a Commitment may not each partial reduction shall be reinstated.in

Appears in 1 contract

Samples: Revolving Credit Agreement (Corn Products International Inc)

Termination or Reduction of the Commitments. The Borrower 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 $10,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstated.

Appears in 1 contract

Samples: 364 Day Revolving Credit Agreement (Oracle Corp /De/)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the thereof. The aggregate amount of the Commitments of the Lenders shall not be automatically reduced to an amount that is less than zero on the sum of the total Revolving Credit Exposures then outstanding and provided further that Termination Date. The Commitments once terminated, a Commitment terminated or reduced may not be reinstated.

Appears in 1 contract

Samples: Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc)

Termination or Reduction of the Commitments. The Borrower 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 $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that ---------------- the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum aggregate principal amount of the total Revolving Credit Exposures Competitive Bid Advances then outstanding and provided further that once terminated, a Commitment may not be reinstatedoutstanding.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Monsanto Co /New/)

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