Common use of Voluntary Reduction or Termination Clause in Contracts

Voluntary Reduction or Termination. of the Revolving Commitment Amount. The Company may from time to time on at least five Business Days' prior written notice received by the Agent (which shall promptly advise each Bank thereof) permanently reduce the Revolving Commitment Amount to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $5,000,000 or a higher integral multiple of $1,000,000. Concurrently with any reduction of the Revolving Commitment Amount to zero, the Company shall pay all interest on the Revolving Loans, all 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 2 contracts

Samples: Credit Agreement (Nashua Corp), Credit Agreement (Nashua Corp)

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Voluntary Reduction or Termination. of the Revolving Commitment AmountLoan Commitments. 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 Bank thereof) permanently reduce the Revolving Commitment Amount Loan Commitments to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $5,000,000 2,000,000 or a higher integral multiple of $1,000,0002,000,000. Concurrently with any reduction of the Revolving Commitment Amount Loan Commitments to zero, the Company shall pay all interest on the Revolving Loans, all 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 (Cabot Microelectronics Corp)

Voluntary Reduction or Termination. of the Revolving Commitment Amount. The Company may from time to time on at least five (5) Business Days' prior written notice received by the Agent (which shall promptly advise each Bank thereof) permanently reduce the Revolving Commitment Amount to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $5,000,000 or a higher integral multiple of $1,000,000. Concurrently with any reduction of the Revolving Commitment Amount to zero, the Company shall pay all interest on the Revolving Loans, all non-use facility 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 (Valassis Communications Inc)

Voluntary Reduction or Termination. of the Revolving Commitment Amount. The Company may from time to time on at least five Business Days' prior written notice received by the Agent (which shall promptly advise each Bank thereof) permanently reduce the Revolving Commitment Amount to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $5,000,000 500,000 or a higher integral multiple of $1,000,000100,000. Concurrently with any reduction of the Revolving Commitment Amount to zero, the Company shall pay all interest on the Revolving Loans, all non-use 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 (Asg Sub Inc)

Voluntary Reduction or Termination. of the Revolving Commitment Amount. The Company may from time to time on at least five Business Days' prior written notice received by the Agent (which shall promptly advise each Bank Lender thereof) permanently reduce the Revolving Commitment Amount to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $5,000,000 1,000,000 or a higher integral multiple of $1,000,000100,000. Concurrently with any reduction of the Revolving Commitment Amount to zero, the Company shall pay all interest on the Revolving Loans, all 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 (Global Technovations Inc)

Voluntary Reduction or Termination. of the Revolving Commitment Amount. The Company may from time to time on at least five Business Days' prior written notice received by the Agent (which shall promptly advise each Bank thereof) permanently reduce the Revolving Commitment Amount to an amount not less than the Revolving OutstandingsOutstandings and the outstanding balance of the Swingline Loans. Any such reduction shall be in an amount not less than $5,000,000 or a higher integral multiple of $1,000,000250,000.00. Concurrently with any reduction of the Revolving Commitment Amount to zero, the Company shall pay in full all principal and all interest on the Revolving Loans, all 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 (Loews Cineplex Entertainment Corp)

Voluntary Reduction or Termination. of the Revolving Commitment Amount. Amount The Company may from time to time on at least five Business Days' prior written notice received by the Agent (which shall promptly advise each Bank Lender thereof) permanently reduce the Revolving Commitment Amount to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $5,000,000 1,000,000 or a higher integral multiple of $1,000,000100,000. Concurrently with any reduction of the Revolving Commitment Amount to zero, the Company shall pay all interest on the Revolving Loans, all 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 (Global Technovations Inc)

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Voluntary Reduction or Termination. of the Revolving Commitment Amount. The Company may from time to time on at least five Business Days' prior written notice received by the Agent (which shall promptly advise each Bank thereof) permanently reduce the Revolving Commitment Amount to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $5,000,000 500,000 or a higher integral multiple of $1,000,000100,000. Concurrently with any reduction of the Revolving Commitment Amount to zero, the Company shall pay all interest on the Revolving Loans, all 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 (Compudyne Corp)

Voluntary Reduction or Termination. of the Revolving Commitment Amount. The Company Loan Parties may from time to time on at least five Business Days' ’ prior written notice received by the Agent (which shall promptly advise each Bank thereof) permanently reduce the Revolving Commitment Amount to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $5,000,000 1,000,000 or a higher integral multiple of $1,000,000. Concurrently with any reduction of the Revolving Commitment Amount to zero, the Company Loan Parties shall pay all interest on the Revolving Loans, all 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 (Clarion Technologies Inc/De/)

Voluntary Reduction or Termination. of the Revolving Commitment Amount. 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 Bank thereof) permanently reduce the Revolving Commitment Amount to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $5,000,000 10,000,000 or a higher integral multiple of $1,000,000. Concurrently with any reduction of the Revolving Commitment Amount to zero, the Company shall pay all interest on the Revolving Loans, all 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 (Cabot Microelectronics Corp)

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