Terminations or Reductions of Commitments Sample Clauses
Terminations or Reductions of Commitments. (a) Voluntary Commitment Reduction. Without premium or penalty, and upon giving not less than five Business Days prior written and irrevocable notice to Administrative Agent, Borrowers may terminate in whole or in part the unused portion of the Revolver Commitment, the Swing Line Commitment, or the commitment under the LC Subfacility; provided that: (i) each partial termination of the Revolver Commitment shall be in an amount of not less than $25,000,000 or a greater integral multiple of $5,000,000; each partial termination of the Swing Line Commitment or the commitment under the LC Subfacility shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; and (ii) on any date of determination, the amount of the Revolver Commitment may not be reduced below the Revolver Commitment Usage, the Swing Line Commitment may not be reduced below the Swing Line Principal Debt, and the commitment under the LC Subfacility may not be reduced below the LC Exposure unless the mandatory prepayment required by SECTION 3.3(b) (if any) is made contemporaneously with such reduction. At the time of any commitment termination under this SECTION 2.5, Borrowers shall pay to Administrative Agent, for the account of each Lender, any amounts that may then be due under SECTION 3.3(b), all accrued and unpaid fees then due and payable under this Agreement, the interest attributable to the amount of that reduction, and any related Consequential Loss. Any part of the Revolver Commitment, the Swing Line Commitment, or the commitment under the LC Subfacility that is terminated may not be reinstated.
Terminations or Reductions of Commitments. (a) [omitted intentionally]
Terminations or Reductions of Commitments. On the Revolving Loan Termination Date, all Revolving Loan --------- Commitments shall be terminated in their entirety.
Terminations or Reductions of Commitments. (a VOLUNTARY COMMITMENT REDUCTIONS. Without premium or penalty, and upon giving not less than ten Business Days prior written and irrevocable notice to Administrative Agent, Borrower may terminate in whole or in part the unused portion of the Commitment; PROVIDED THAT:
(i) each partial termination shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; (ii) the amount of the Commitment may not be reduced below the Commitment Usage; and (iii) each reduction shall be allocated ratably among Lenders in accordance with their respective Committed Sums. Promptly after receipt of such notice of termination or reduction, Administrative Agent shall notify Lenders of the proposed cancellation or reduction. Such termination or partial reduction of the Commitment shall be effective on the Business Day specified in Borrower's notice (which date must be at least ten Business Days after Borrower's delivery of such notice). In the event that the Commitment is reduced to zero at a time when there is no LC Exposure or Principal Debt outstanding, this Agreement shall be terminated to the extent specified in SECTION 13.14, and all commitment fees and other fees then earned and unpaid hereunder and all other amounts of the Obligation then due and owing shall be immediately due and payable, without notice or demand by Administrative Agent or any Lender.
Terminations or Reductions of Commitments. (a) VOLUNTARY COMMITMENT REDUCTION. Without premium or penalty, and upon giving not less than three Business Days prior written and irrevocable notice to Administrative Agent, Borrower may terminate in whole or in part the unused portion of the Commitment, or the commitment under the LC Subfacility; provided that: (i) each partial termination of the Commitment shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; each partial termination of the commitment under the LC Subfacility shall be in an amount of not less than $1,000,000 or a greater integral multiple of $500,000; and (ii) on any date of determination, the amount of the Commitment may not be reduced below the Commitment Usage, and the commitment under the LC Subfacility shall not be reduced below the LC Exposure. At the time of any commitment termination under this Section 2.3, Borrower shall pay to Administrative Agent, for the account of each Lender any amounts that may then be due under Section 3.3(c), all accrued and unpaid fees then due and payable under this Agreement, the interest attributable to the amount of that reduction, and any related Consequential Loss. Any part of the Commitment or the commitment under the LC Subfacility that is terminated may not be reinstated.
Terminations or Reductions of Commitments