Voluntary Termination or Reduction of Commitments. The Company may, upon not less than five Business Days’ prior notice to the Administrative Agent, terminate the Aggregate Revolving Commitment or permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereof; provided that (i) no such reduction or termination shall be permitted if, after giving effect thereto and to any prepayments of the Loans made on the effective date thereof, the then Total Outstanding Amount would exceed the amount of the Aggregate Revolving Commitment then in effect and (ii) if, after giving effect to any reduction of the Aggregate Revolving Commitment, the Alternative Currency Sublimit exceeds the amount of the Aggregate Revolving Commitment, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excess. Any reduction of the Aggregate Revolving Commitment shall be applied to each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Percentage. All accrued facility fees to, but not including the effective date of any reduction or termination of Revolving Commitments, shall be paid on the effective date of such reduction or termination.
Appears in 3 contracts
Samples: Credit Agreement (General Mills Inc), Five Year Credit Agreement (General Mills Inc), Credit Agreement (General Mills Inc)
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior notice to the Administrative Agent, irrevocably terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by the Administrative Agent not later than 11:00 a.m. (San Francisco time) five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, and (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the sum of the Loans made on aggregate LC Exposure (or the effective date Dollar Equivalent thereof, ) plus the then Total Outstanding Amount aggregate outstanding principal amount of the Revolving Advances of all of the Lenders would exceed the amount Aggregate Commitments. The Administrative Agent will promptly notify the Lenders of the Aggregate Revolving Commitment then in effect and (ii) if, after giving effect to any such notice of termination or reduction of the Aggregate Revolving Commitment, the Alternative Currency Sublimit exceeds the amount of the Aggregate Revolving Commitment, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excessCommitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Applicable Percentage. All fees accrued facility fees to, but not including in respect of the Aggregate Commitments until the effective date of any termination or reduction or termination of Revolving Commitments, the Aggregate Commitments shall be paid on the effective date of such reduction termination or terminationreduction, as applicable.
Appears in 3 contracts
Samples: Revolving Loan and Financial Letter of Credit Facility Agreement (Fluor Corp), Credit Agreement (Fluor Corp), Credit Agreement (Fluor Corp)
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior written notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by Administrative Agent not later than 11:00 a.m. three Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $1,000,000 or any whole multiple of $1,000,000 in excess thereof, and (iii) Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Aggregate Revolving Credit Exposure would exceed the amount Aggregate Commitments. Administrative Agent will promptly notify of the Aggregate Revolving Commitment then in effect and (ii) if, after giving effect to any such notice of termination or reduction of the Aggregate Revolving Commitment, the Alternative Currency Sublimit exceeds the amount of the Aggregate Revolving Commitment, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excessCommitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Applicable Percentage. All fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Aggregate Commitments shall be paid on the effective date of such reduction or termination.
Appears in 3 contracts
Samples: Credit Agreement (Granite Ridge Resources, Inc.), Credit Agreement (Granite Ridge Resources, Inc.), Credit Agreement (Granite Ridge Resources, Inc.)
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior written notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by Administrative Agent not later than 11:00 a.m. three Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $1,000,000 or any whole multiple of $1,000,000 in excess thereof, and (iii) Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Aggregate Revolving Credit Exposure would exceed the amount Aggregate Commitments. Administrative Agent will promptly notify Lenders of the Aggregate Revolving Commitment then in effect and (ii) if, after giving effect to any such notice of termination or reduction of the Aggregate Revolving Commitment, the Alternative Currency Sublimit exceeds the amount of the Aggregate Revolving Commitment, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excessCommitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Applicable Percentage. All fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Aggregate Commitments shall be paid on the effective date of such reduction or termination.
Appears in 2 contracts
Samples: Credit Agreement (Granite Ridge Resources, Inc.), Credit Agreement (Granite Ridge Resources, Inc.)
Voluntary Termination or Reduction of Commitments. The Company may, upon not less than five Business Days’ prior notice to the Administrative Agent, irrevocably terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted ifreceived by the Administrative Agent not later than 1:00 p.m. (New York City time) five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, and (iii) the Company shall not terminate or reduce the Aggregate Commitments if such reduction, after giving effect thereto and to any concurrent prepayments hereunder, would result in (x) the Dollar Equivalent of the Loans made on aggregate Revolving Credit Exposures exceeding the effective date thereofAggregate Commitments, (y) the then Total Outstanding Amount would exceed the amount Dollar Equivalent of the Aggregate sum of the aggregate outstanding Revolving Commitment then Advances and the LC Exposure in effect and (ii) if, after giving effect to respect of Financial Letters of Credit exceeding the Revolving Facility Sublimit. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitment, the Alternative Currency Sublimit exceeds the amount of the Aggregate Revolving Commitment, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excessCommitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Applicable Percentage. All fees accrued facility fees to, but not including in respect of the Aggregate Commitments until the effective date of any termination or reduction or termination of Revolving Commitments, the Aggregate Commitments shall be paid on the effective date of such reduction termination or terminationreduction, as applicable.
Appears in 2 contracts
Samples: Revolving Loan and Letter of Credit Facility Agreement (Fluor Corp), Revolving Loan and Letter of Credit Facility Agreement (Fluor Corp)
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior written notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by Administrative Agent not later than 11:00 a.m. three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) Borrower shall not terminate or reduce the Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Revolving Credit Exposure of all Lenders would exceed the aggregate amount of the Aggregate Revolving Commitment then in effect Commitments of the Lenders, and (iiiv) if, after giving effect to any reduction of the Aggregate Revolving CommitmentCommitments, the Alternative Currency Letter of Credit Sublimit exceeds the amount of the Aggregate Revolving Commitmentaggregate Commitments, such Alternative Currency Sublimit sublimit shall be automatically reduced by the amount of such excess. Administrative Agent will promptly notify Lenders of any such notice of termination or reduction of Commitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Applicable Percentage. All fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Commitments shall be paid on the effective date of such reduction or termination.
Appears in 2 contracts
Samples: Credit Agreement (Pfsweb Inc), Credit Agreement (Sunnova Energy International Inc.)
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 9:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate minimum amount of $25,000,000 5,000,000 or any whole multiple of $5,000,000 in excess thereof; provided that , (iiii) no such reduction the Borrower shall not terminate or termination shall be permitted reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Outstandings would exceed the amount of the Aggregate Revolving Commitment then in effect Commitments, and (iiiv) if, after giving effect to any reduction of the Aggregate Revolving CommitmentCommitments, the Alternative Currency Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Revolving CommitmentCommitments, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excess. Any The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitment Commitments. Any reduction or termination of the Aggregate Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment PercentageLender according to its Pro Rata Share. All accrued facility fees to, but not including accrued until the effective date of any reduction or termination of Revolving Commitments, the Aggregate Commitments shall be paid on the effective date of such reduction or termination.
Appears in 1 contract
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior written notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by Administrative Agent not later than 11:00 a.m. three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) Borrower shall not terminate or reduce the Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Aggregate Exposure of all Lenders would exceed the aggregate amount of the Aggregate Revolving Commitment then in effect Commitments of the Lenders, and (iiiv) if, after giving effect to any reduction of the Aggregate Revolving CommitmentCommitments, the Alternative Currency Letter of Credit Sublimit exceeds the amount of the Aggregate Revolving Commitmentaggregate Commitments, such Alternative Currency Sublimit sublimit shall be automatically reduced by the amount of such excess. Administrative Agent will promptly notify Lenders of any such notice of termination or reduction of the Commitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Aggregate Exposure Percentage. All fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Commitments shall be paid on the effective date of such reduction or termination.
Appears in 1 contract
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $500,000 or any whole multiple of $100,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Outstandings would exceed the amount Aggregate Commitments. The Administrative Agent will promptly notify the Lenders of the Aggregate Revolving Commitment then in effect and (ii) if, after giving effect to any such notice of termination or reduction of the Aggregate Revolving Commitment, the Alternative Currency Sublimit exceeds the amount of the Aggregate Revolving Commitment, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excessCommitments. Any such voluntary reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment PercentageLender according to its Pro Rata Share. All commitment fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Commitments shall be paid on the effective date of such reduction or termination.
Appears in 1 contract
Samples: Credit Agreement (Pegasus Satellite Communications Inc)
Voluntary Termination or Reduction of Commitments. The Company Borrower Representative may, upon not less than five Business Days’ prior written notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by Administrative Agent not later than 11:00 a.m. three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower Representative shall not terminate or reduce the Commitments if, immediately after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Revolving Credit Exposure of all Lenders would exceed the amount of the Aggregate Revolving Commitment then Line Cap in effect at such time and (iiiv) if, immediately after giving effect to any reduction of the Aggregate Revolving CommitmentCommitments, the Alternative Currency Letter of Credit Sublimit or Swing Line Sublimit exceeds the amount of the Aggregate Revolving CommitmentCredit Facility, such Alternative Currency Sublimit sublimit shall be automatically reduced by the amount of such excess. Administrative Agent will promptly notify Lenders of any such notice of termination or reduction of the Commitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Applicable Percentage. All fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Commitments shall be paid on the effective date of such reduction or termination.
Appears in 1 contract
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by the Administrative Agent not later than 11:00 a.m. three Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof and (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Outstandings would exceed the amount Aggregate Commitments. The Administrative Agent will promptly notify the Lenders of the Aggregate Revolving Commitment then in effect and (ii) if, after giving effect to any such notice of termination or reduction of the Aggregate Revolving Commitment, the Alternative Currency Sublimit exceeds the amount of the Aggregate Revolving Commitment, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excessCommitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment PercentageLender according to its Pro Rata Share. All commitment fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Aggregate Commitments shall be paid on the effective date of such reduction or termination.
Appears in 1 contract
Samples: Credit Agreement (Danaher Corp /De/)
Voluntary Termination or Reduction of Commitments. The Company Borrower Representative may, upon not less than five Business Days’ prior written notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by Administrative Agent not later than 11:00 a.m. three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $1,000,000 or any whole multiple of $100,000 in excess thereof, (iii) the Borrower Representative shall not terminate or reduce the Commitments if, immediately after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Revolving Credit Exposure of all Lenders would exceed the amount of the Aggregate Revolving Commitment then Line Cap in effect at such time and (iiiv) if, immediately after giving effect to any reduction of the Aggregate Revolving CommitmentCommitments, the Alternative Currency Letter of Credit Sublimit or Swing Line Sublimit exceeds the amount of the Aggregate Revolving CommitmentCredit Facility, such Alternative Currency Sublimit sublimit shall be automatically reduced by the amount of such excess. Administrative Agent will promptly notify Lenders of any such notice of termination or reduction of the Commitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Applicable Percentage. All fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Commitments shall be paid on the effective date of such reduction or termination.
Appears in 1 contract
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior written notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by Administrative Agent not later than 11:00 a.m. three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $[***] or any whole multiple of $[***] in excess thereof, (iii) Borrower shall not terminate or reduce the Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Revolving Credit Exposure of all Lenders would exceed the aggregate amount of the Aggregate Revolving Commitment then in effect Commitments of the Lenders, and (iiiv) if, after giving effect to any reduction of the Aggregate Revolving CommitmentCommitments, the Alternative Currency Letter of Credit Sublimit exceeds the amount of the Aggregate Revolving Commitmentaggregate Commitments, such Alternative Currency Sublimit sublimit shall be automatically reduced by the amount of such excess. Administrative Agent will promptly notify Lenders of any such notice of termination or reduction of Commitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Applicable Percentage. All fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Commitments shall be paid on the effective date of such reduction or termination.
Appears in 1 contract
Samples: Credit Agreement (Sunnova Energy International Inc.)
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior written notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by Administrative Agent not later than 11:00 a.m. three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof, and (iii) Borrower shall not terminate or reduce the Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Revolving Credit Exposure of all Lenders would exceed the aggregate amount of the Aggregate Revolving Commitment then in effect and (ii) if, after giving effect to Commitments of the Lenders. Administrative Agent will promptly notify Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitment, the Alternative Currency Sublimit exceeds the amount of the Aggregate Revolving Commitment, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excessCommitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Applicable Percentage. All fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Commitments shall be paid on the effective date of such reduction or termination.
Appears in 1 contract
Voluntary Termination or Reduction of Commitments. The Company may, upon not less than five Business Days’ prior notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof and (iii) the Company shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Outstandings would exceed the amount Aggregate Commitments. The Administrative Agent will promptly notify the Lenders of the Aggregate Revolving Commitment then in effect and (ii) if, after giving effect to any such notice of termination or reduction of the Aggregate Revolving Commitment, the Alternative Currency Sublimit exceeds the amount of the Aggregate Revolving Commitment, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excessCommitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment PercentageLender according to its Pro Rata Share. All facility and utilization fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Aggregate Commitments shall be paid on the effective date of such reduction or termination.
Appears in 1 contract
Samples: Credit Agreement (Danaher Corp /De/)
Voluntary Termination or Reduction of Commitments. The Company Borrower may, upon not less than five Business Days’ prior notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment by an aggregate minimum amount of $25,000,000 or any multiple of $5,000,000 in excess thereofCommitments; provided that (i) no any such reduction or termination notice shall be permitted received by the Administrative Agent not later than 2:00 p.m. three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments of the Loans made on the effective date thereofhereunder, the then Total Outstanding Amount Outstandings would exceed the amount of the Aggregate Revolving Commitment then in effect Commitments, and (iiiv) if, after giving effect to any reduction of the Aggregate Revolving CommitmentCommitments, the Alternative Currency Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Revolving CommitmentCommitments, such Alternative Currency Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Commitment of each Bank’s Revolving Commitment in accordance with such Bank’s Commitment Lender according to its Applicable Percentage. All fees accrued facility fees to, but not including until the effective date of any reduction or termination of Revolving Commitments, the Aggregate Commitments shall be paid on the effective date of such reduction or termination.
Appears in 1 contract