Voluntary Reduction of Revolving Commitment. The Borrowers may at any time, or from time to time, upon not less than three (3) Business Days' prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of $500,000 or more, in increments of $100,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes exceeds the Revolving Commitment as reduced pursuant to this Section 2.
Appears in 5 contracts
Samples: Credit Agreement (Continental Resources Inc), Credit Agreement (Continental Crude Co), Credit Agreement (Continental Resources Inc)
Voluntary Reduction of Revolving Commitment. The Borrowers Borrower may at any time, or from time to time, upon not less than three (3) Business Days' Days prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of at least $500,000 1,000,000 or more, in increments of $100,000 1,000,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes exceeds the Revolving Commitment as reduced pursuant to this Section 22(c).
Appears in 3 contracts
Samples: Credit Agreement (Atwood Oceanics Inc), Credit Agreement (Atwood Oceanics Inc), Credit Agreement (Atwood Oceanics Inc)
Voluntary Reduction of Revolving Commitment. The Borrowers may at any time, or from time to time, upon not less than three (3) Business Days' Days prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of at least $500,000 1,000,000 or more, in increments of $100,000 1,000,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes exceeds the Revolving Commitment as reduced pursuant to this Section 22(e).
Appears in 3 contracts
Samples: Credit Agreement (Atwood Oceanics Inc), Credit Agreement (Atwood Oceanics Inc), Credit Agreement (Atwood Oceanics Inc)
Voluntary Reduction of Revolving Commitment. The Subject to the provisions of Section 5(e) hereof, the Borrowers may at any time, or from time to time, upon not less than three (3) Business Days' prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of $500,000 1,000,000 or more, in increments of $100,000 1,000,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes exceeds the Revolving Commitment as reduced pursuant to this Section 2.
Appears in 2 contracts
Samples: Credit Agreement (Exco Resources Inc), Credit Agreement (Exco Resources Inc)
Voluntary Reduction of Revolving Commitment. The Borrowers may at ------------------------------------------- any time, or from time to time, upon not less than three (3) Business Days' Days prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of $500,000 100,000 or more, in increments of $100,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes Note exceeds the Revolving Commitment as reduced pursuant to this Section 2.
Appears in 1 contract
Samples: Loan Agreement (Gothic Energy Corp)
Voluntary Reduction of Revolving Commitment. The Borrowers Subject to the provisions of Section 5(e) hereof, the Borrower may at any time, or from time to time, upon not less than three (3) Business Days' prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of $500,000 C$1,000,000 or more, in increments of $100,000 C$1,000,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes exceeds the Revolving Commitment as reduced pursuant to this Section 2.
Appears in 1 contract
Voluntary Reduction of Revolving Commitment. The Borrowers Borrower may at any time, or from time to time, upon not less than three (3) Business Days' Days prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the a minimum amount of $500,000 or more, in increments of at least $100,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Note or Notes in the amount by which the outstanding principal balance of the Revolving Note or Notes exceeds the Revolving Commitment as reduced pursuant to this Section 22(d).
Appears in 1 contract
Samples: Senior Secured Loan Agreement (Southwest Royalties Holdings Inc)
Voluntary Reduction of Revolving Commitment. The Borrowers may at ------------------------------------------- any time, or from time to time, upon not less than three (3) Business Days' Days prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of $500,000 or more, in increments of $100,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes exceeds the Revolving Commitment as reduced pursuant to this Section 2.
Appears in 1 contract
Samples: Loan Agreement (Gothic Energy Corp)
Voluntary Reduction of Revolving Commitment. The Borrowers Borrower may at any time, or from time to time, upon not less than three (3) Business Days' Days prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of at least $500,000 1,000,000 or more, in increments of $100,000 1,000,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes exceeds exceed the Revolving Commitment as reduced pursuant to this Section 22(e). Any such reduction in the Revolving Commitment shall be permanent and not subject to reinstatement.
Appears in 1 contract
Voluntary Reduction of Revolving Commitment. The Borrowers Subject to the provisions of Section 5(e) hereof, the Borrower may at any time, or from time to time, upon not less than three (3) Business Days' prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of $500,000 1,000,000 or more, in increments of $100,000 1,000,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes exceeds the Revolving Commitment as reduced pursuant to this Section 2.
Appears in 1 contract
Voluntary Reduction of Revolving Commitment. The Borrowers Borrower may at any time, or from time to time, upon not less than three (3) Business Days' Days prior written notice to AgentBank, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of $500,000 100,000 or more, in increments of $100,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes Note in the amount by which the outstanding principal balance of the Revolving Notes Note exceeds the Revolving Commitment as reduced pursuant to this Section 2.
Appears in 1 contract
Voluntary Reduction of Revolving Commitment. The Borrowers Borrower may at any time, or from time to time, upon not less than three (3) Business Days' prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of $500,000 or more, in increments of $100,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes exceeds the Revolving Commitment as reduced pursuant to this Section 2.
Appears in 1 contract
Samples: Loan Agreement (Gothic Energy Corp)
Voluntary Reduction of Revolving Commitment. The Borrowers Borrower may at ------------------------------------------- any time, or from time to time, upon not less than three (3) Business Days' prior written notice to Agent, reduce or terminate the Revolving Commitment; provided, however, that (i) each reduction in the Revolving Commitment must be in the amount of $500,000 or more, in increments of $100,000 and (ii) each reduction must be accompanied by a prepayment of the Revolving Notes in the amount by which the outstanding principal balance of the Revolving Notes exceeds the Revolving Commitment as reduced pursuant to this Section 2.
Appears in 1 contract
Samples: Credit Agreement (Wiser Oil Co)