Common use of Voluntary Reduction in Revolving Commitment Clause in Contracts

Voluntary Reduction in Revolving Commitment. The Borrower may from time to time permanently reduce the aggregate amount of the Revolving Commitments in whole or in part without premium or penalty except as provided in Section 3.10 upon three (3) Business Days' prior written notice to the Agent; provided that after giving effect to any such voluntary reduction the sum of Revolving Loans plus Swingline Loans plus LOC Obligations then outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced. Partial reductions in the aggregate Revolving Commitment shall in each case be in a minimum aggregate amount of $1,000,000 and integral multiples of $500,000 in excess thereof.

Appears in 2 contracts

Samples: Credit Agreement (Manitowoc Co Inc), Credit Agreement (Manitowoc Co Inc)

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Voluntary Reduction in Revolving Commitment. The Borrower may from time to time permanently reduce the aggregate amount of the Revolving Commitments in whole or in part without premium or penalty except as provided in Section 3.10 upon three (3) Business Days' prior written notice to the Agent; provided that after giving effect to any such voluntary reduction the sum of Revolving Loans plus Swingline Loans plus LOC Obligations then outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced. Partial Except as otherwise specified herein, partial reductions in the aggregate Revolving Commitment shall in each case be in a minimum aggregate amount of $1,000,000 and integral multiples of $500,000 in excess thereof.

Appears in 2 contracts

Samples: Credit Agreement (C2 Inc), Credit Agreement (C2 Inc)

Voluntary Reduction in Revolving Commitment. The Borrower may from time to time permanently reduce the aggregate amount of the Revolving Commitments in whole or in part without premium or penalty except as provided in Section 3.10 upon three (3) Business Days' prior written notice to the Agent; provided that after giving effect to any such voluntary reduction the sum outstanding principal balance of the Revolving Loans plus the aggregate principal amount of outstanding LOC Obligations plus the aggregate principal amount of outstanding Swingline Loans plus LOC Obligations then outstanding shall not exceed the Aggregate Revolving Committed Amount, as reducedreduced hereunder. Partial reductions in the aggregate Revolving Commitment shall in each case be in a minimum aggregate amount of $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Sykes Enterprises Inc)

Voluntary Reduction in Revolving Commitment. The Borrower may from ------------------------------------------- time to time permanently reduce the aggregate amount of the Revolving Commitments in whole or in part without premium or penalty except as provided in Section 3.10 upon three (3) Business Days' prior written notice to the Administrative Agent; provided that after giving effect to any such voluntary reduction of the sum of Revolving Loans plus Swingline Loans plus LOC Obligations then outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced. Partial reductions in the aggregate Revolving Commitment shall in each case be in a minimum aggregate amount of $1,000,000 500,000 and integral multiples of $500,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Cybex International Inc)

Voluntary Reduction in Revolving Commitment. The Borrower may from time to time permanently reduce the aggregate amount of the Revolving Commitments in whole or in part without premium or penalty except as provided in Section 3.10 upon three (3) Business Days' prior written notice to the Agent; provided that after giving effect to any such voluntary reduction the sum of Revolving Loans plus Swingline Loans plus LOC Obligations plus Swing Line Loans then outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced. Partial Except as otherwise specified herein, partial reductions in the aggregate Revolving Commitment shall in each case be in a minimum aggregate amount of $1,000,000 and integral multiples of $500,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

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Voluntary Reduction in Revolving Commitment. The Borrower may from time to time permanently reduce the aggregate amount of the Revolving Commitments in whole or in part without premium or penalty except as provided in Section 3.10 4.10 upon three (3) Business Days' prior written notice to the Agent; provided that after giving effect to any such voluntary reduction the sum of Revolving Loans plus Swingline Loans plus LOC Obligations plus Commercial Paper Obligations plus Swing Line Loans then outstanding shall not exceed the Aggregate Revolving Committed Amount, as reducedreduced from time to time. Partial Except as otherwise specified herein, partial reductions in the aggregate Revolving Commitment shall in each case be in a minimum aggregate amount of $1,000,000 and integral multiples of $500,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Lacrosse Footwear Inc)

Voluntary Reduction in Revolving Commitment. The Borrower may from time to time permanently reduce the aggregate amount of the Revolving Commitments in whole or in part without premium or penalty except as provided in Section 3.10 upon three (3) Business Days' prior written notice to the Agent; provided that after giving effect to any such voluntary reduction the sum of Revolving Loans plus LOC Obligations plus Swingline Loans plus LOC Obligations then outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced. Partial reductions in the aggregate Revolving Commitment shall in each case be in a minimum aggregate amount of $1,000,000 5,000,000 and integral multiples of $500,000 1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Cort Business Services Corp)

Voluntary Reduction in Revolving Commitment. The Borrower may from ------------------------------------------- time to time permanently reduce the aggregate amount of the Revolving Commitments in whole or in part without premium or penalty except as provided in Section 3.10 2.15 upon three (3) Business Days' prior written notice to the Administrative Agent; provided that after giving effect to any such voluntary reduction the sum of the Revolving Loans plus Swingline Loans plus and LOC Obligations then outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced. Partial reductions in the aggregate Revolving Commitment shall in each case be in a minimum aggregate amount of $1,000,000 500,000 and integral multiples of $500,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Cybex International Inc)

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