Common use of Voluntary Reduction or Termination of the Revolving Commitment Clause in Contracts

Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five Business Days’ prior written notice received by the Administrative Agent (which shall advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line Loans. Any such reduction shall be in an amount not less than an integral multiple of $1,000,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Commitment Fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Westinghouse Air Brake Technologies Corp)

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Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five (5) Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $5,000,000 or a higher integral multiple of $1,000,000. Concurrently with any reduction of the Revolving Commitment to zerozero (0), the Company Borrowers shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Epiq Systems Inc)

Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $1,000,000 or a higher integral multiple of $1,000,000100,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Loan and Security Agreement (Material Sciences Corp)

Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $5,000,000 or a higher integral multiple of $1,000,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit and Existing Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Standard Parking Corp)

Voluntary Reduction or Termination of the Revolving Commitment. The Company Borrower may from time to time on at least five (5) Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $5,000,000 or a higher integral multiple of $1,000,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company Borrower shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Primoris Services Corp)

Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than $1,000,000 and an integral multiple of $1,000,00050,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Wells Mid-Horizon Value-Added Fund I LLC)

Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five (5) Business Days’ prior written notice received by given in accordance with Section 15.3 hereof (which the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $500,000 or a higher integral multiple of $1,000,000100,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all accrued interest on the Revolving Loans, all Commitment Fees accrued non-use fees and all accrued letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Continental Materials Corp)

Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $1,000,000 or a higher integral multiple of $1,000,000. Concurrently with any permanent reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Fresh Brands Inc)

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Voluntary Reduction or Termination of the Revolving Commitment. The Company Borrower may from time to time on at least five Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $5,000,000 or a higher integral multiple of $1,000,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company Borrower shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Infrastructure & Energy Alternatives, Inc.)

Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $10,000,000 or a higher integral multiple of $1,000,0005,000,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Centene Corp)

Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $100,000 or a higher integral multiple of $1,000,000100,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (World Fuel Services Corp)

Voluntary Reduction or Termination of the Revolving Commitment. The Company Borrowers may from time to time on at least five Business Days' prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $500,000 or a higher integral multiple of $1,000,000100,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company Borrowers shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Reinhold Industries Inc/De/)

Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five Business Days' prior written notice received by the Administrative Paying Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings plus the outstanding amount of all Swing Line LoansOutstandings. Any such reduction shall be in an amount not less than an $5,000,000 or a higher integral multiple of $1,000,000. Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Commitment Fees non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit and Existing Letters of Credit.

Appears in 1 contract

Samples: Credit Agreement (Standard Parking Corp)

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