Common use of VOLUNTARY PERMANENT REDUCTIONS Clause in Contracts

VOLUNTARY PERMANENT REDUCTIONS. Upon two Business Days' written notice to the Agent, the Borrower may from time to time voluntarily permanently reduce the Revolving Credit Commitment. Each voluntary reduction shall be in a minimum amount of $1,000,000 or, if greater than $1,000,000, in integral multiples of $500,000.

Appears in 2 contracts

Samples: Credit Agreement (Best Lock Corp), Credit Agreement (Best Universal Lock Co)

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VOLUNTARY PERMANENT REDUCTIONS. Upon two Business Days' written notice to the Agent, the Borrower Borrowers may from time to time voluntarily permanently reduce the Revolving Credit Commitment. Each voluntary reduction shall be in a minimum amount of $1,000,000 or, if greater than $1,000,000, in integral multiples of $500,000.

Appears in 1 contract

Samples: Credit Agreement (Circuit Systems Inc)

VOLUNTARY PERMANENT REDUCTIONS. Upon two Business Days' written notice to the AgentBank, the Borrower may from time to time voluntarily voluntary permanently reduce the Revolving Credit Commitment. Each voluntary reduction shall be in a minimum amount of $1,000,000 200,000 or, if greater than $1,000,000200,000, in integral multiples of $500,000100,000.

Appears in 1 contract

Samples: Credit Agreement (Gerdau Ameristeel Corp)

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VOLUNTARY PERMANENT REDUCTIONS. Upon two Business Days' written notice to the AgentBank, the Borrower may from time to time voluntarily permanently reduce the Revolving Credit Commitment. Each voluntary reduction shall be in a minimum amount of $1,000,000 200,000 or, if greater than $1,000,000200,000, in integral multiples of $500,000100,000.

Appears in 1 contract

Samples: Credit Agreement (Gerdau Ameristeel Corp)

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