Voluntary Termination or Reduction of Revolving Commitments Sample Clauses

Voluntary Termination or Reduction of Revolving Commitments. The Borrower may, upon not less than three Business Days’ prior notice to the Agent (which notice may be conditioned upon the consummation of replacement financing), terminate the Revolving Commitments, or permanently reduce the Aggregate Revolving Commitment by $2,000,000 or any higher integral multiple of $1,000,000; provided that the Aggregate Revolving Commitment shall not be reduced to an amount less than the Total Revolving Usage. Once reduced in accordance with this Section 2.07, the Aggregate Revolving Commitment may not be increased. Any reduction of the Aggregate Revolving Commitment shall be applied to reduce the Revolving Commitment of each Revolving Lender according to its Applicable Percentage.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Voluntary Termination or Reduction of Revolving Commitments. The Companies, acting jointly, may, upon not less than five Business Days' prior notice to the Agent, permanently terminate the Revolving Commitments, or permanently reduce the Revolving Commitments by (a) an aggregate minimum Dollar Equivalent Amount of $5,000,000 or any Dollar Equivalent Amount multiple of $1,000,000 in excess thereof or (b) such other amount as represents the entire unused amount of Revolving Commitments; unless, after giving effect thereto and to any prepayments of Revolving Loans made on the effective date thereof, (a) the Dollar Equivalent Amount of the principal amount of the Revolving Loans, Bid Loans and Swing Line Outstandings, and the Dollar Equivalent Amount of the Effective Amount of Sublimit L/C Obligations then outstanding would exceed the amount of the combined Revolving Commitments then in effect, or (b) the Dollar Equivalent Amount of the Effective Amount of all Sublimit L/C Obligations then outstanding would exceed the Sublimit L/C Commitment. Once reduced in accordance with this Section, the Revolving Commitments may not be increased. Any reduction of the Revolving Commitments shall be applied to each Bank according to its Pro Rata Share. All accrued commitment 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. The Agent shall promptly notify each Bank of the Agent's receipt of and the contents of any notice received by it pursuant to this Section 2.8.
Sample 1
Voluntary Termination or Reduction of Revolving Commitments. The Company may, upon not less than five (5) Business Days' prior notice to the Agent, terminate the Revolving Commitments, or permanently reduce the Revolving Commitments by an aggregate amount of Five Million Dollars ($5,000,000) or any multiple of One Million Dollars ($1,000,000) in excess thereof; unless, after giving effect thereto and to any prepayments of Loans made on the effective date thereof, the then-outstanding principal amount of the Loans would exceed the amount of the combined Revolving Commitments then in effect. Each reduction of the combined Revolving Commitments under this Section 2.05 shall reduce the Revolving Commitment then in effect and shall reduce each future maximum aggregate Revolving Commitment amount as set forth on Schedule 2.01 by a like amount. Once reduced in accordance with this Section, the Revolving Commitments may not be increased. Any reduction of the Revolving Commitments shall be applied to each Lender according to its Pro Rata Share. All accrued Commitment 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.
Sample 1
Voluntary Termination or Reduction of Revolving Commitments. The Company may, upon not less than three Business Days' prior notice to the Agent, terminate the Revolving Commitment, or permanently reduce the Revolving Commitment by an aggregate amount of $1,000,000 or a higher integral multiple of $500,000; unless, after giving effect thereto and to any prepayments of Loans made on the effective date thereof, the aggregate principal amount of all Revolving Loans plus the Effective Amount of all L/C Obligations would exceed the amount of the Revolving Commitment then in effect. Once reduced in accordance with this Section, the Revolving Commitment may not be increased. Any reduction of the Revolving Commitment shall be applied to each Lender according to its Revolving Percentage.
Sample 1
Voluntary Termination or Reduction of Revolving Commitments. The Borrowers may, upon not less than three Business Days' prior notice to the Administrative Agent (which shall give notice thereof to the Lending Parties) by the Borrower Representative on behalf of the Borrowers, terminate the Revolving Commitments, or permanently reduce the Revolving Commitments in a Minimum Amount; unless, after giving effect thereto and to any prepayments of relevant Loans made on the effective date thereof, the Effective Amount of all outstanding Revolving Loans (including for purposes hereof the Swingline Loans) plus the Effective Amount of all outstanding Letter of Credit Obligations would exceed the amount of the Revolving Commitments then in effect. Once reduced in accordance with this Section 2.5, the Revolving Commitments may not be increased. Any reduction of the Revolving Commitments shall be applied to each Revolving Lender according to its Pro Rata Share. All accrued commitment fees to the effective date of any reduction or termination of the Revolving Commitments shall be paid on the effective date of such reduction or termination.
Sample 1
Voluntary Termination or Reduction of Revolving Commitments. The Company may, upon not less than three Business Days' prior notice to the Agent (which shall give notice thereof to the Lending Parties), terminate the Revolving Commitments, or permanently reduce the Revolving Commitments by an aggregate minimum amount of $5,000,000 or any multiple of $1,000,000 in excess thereof; unless, after giving effect thereto and to any prepayments of relevant Loans made on the effective date thereof, the Effective Amount of all outstanding Revolving Loans (including for purposes hereof the Swingline Loans and Alternate Currency Loans) plus the Effective Amount of all outstanding Letter of Credit Obligations minus the lesser of (x) the Effective Amount of all Alternate Currency Loans supported by Alternate Currency Standby Letters of Credit and (y) the Effective Amount of all Letter of Credit Obligations with respect to Alternate Currency Standby Letters of Credit, would exceed the amount of the Revolving Commitments then in effect. Once reduced in accordance with this Section 2.5, the Revolving Commitments may not be increased. Any reduction of the Revolving Commitments shall be applied to each Revolving Lender according to its Revolver Pro Rata Share. All accrued commitment fees to the effective date of any reduction or termination of the Revolving Commitments shall be paid on the effective date of such reduction or termination.
Sample 1
Voluntary Termination or Reduction of Revolving Commitments. Subject to Section 5.5, the Borrower may, upon not less than five (5) Business Days' irrevocable prior written notice to the Administrative Agent (which shall promptly advise each Bank thereof), terminate the Revolving Commitments or permanently reduce the Revolving Commitments by an aggregate minimum amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof; unless, after giving effect thereto and to any prepayments of Committed Loans made on the effective date thereof, the then outstanding principal amount of the Loans would exceed the amount of the aggregate Revolving Commitments then in effect (less the Borrower's aggregate outstanding commercial paper). Once reduced in accordance with this Section, the Revolving Commitments, to the extent terminated or permanently reduced, may not be increased. Any reduction of the Revolving Commitments shall be applied to each Bank's Revolving Commitment, pro rata, according to its Percentage.
Sample 1
AutoNDA by SimpleDocs
Voluntary Termination or Reduction of Revolving Commitments. The Company may at any time terminate, or from time to time reduce, the Revolving Commitments; provided that (i) each reduction of the Revolving Commitments shall be ratable as between the US Revolving Commitment and the Multicurrency Revolving Commitment and shall be in an amount that is $3,000,000 or a larger multiple of $500,000 and (ii) the Company shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.08, the total Revolving Credit Exposures would exceed the total Revolving Commitments.
Sample 1
Voluntary Termination or Reduction of Revolving Commitments 
Sample 1

Related to Voluntary Termination or Reduction of Revolving Commitments

  • Termination or Reduction of Revolving Commitments The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

  • Voluntary Termination or Reduction of Commitments The Company may, upon not less than five Business Days' prior notice to the Agents, terminate the Commitments, or permanently reduce the Commitments by an aggregate minimum amount of $100,000 or any multiple of $50,000 in excess thereof; unless, after giving effect thereto and to any prepayments of Loans made on the effective date thereof, the then-outstanding principal amount of the Loans would exceed the amount of the combined Commitments then in effect. Once reduced in accordance with this Section, the Commitments may not be increased. Any reduction of the Commitments shall be applied to each Bank according to its Pro Rata Share. All accrued commitment fees to, but not including the effective date of any reduction or termination of Commitments, shall be paid on the effective date of such reduction or termination.

  • Voluntary Reduction or Termination of Revolver Commitments (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 20 Business Days prior written notice to Agent at any time after the first Loan Year, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable. On the termination date, Borrowers shall make Full Payment of all Obligations.

  • Optional Termination or Reduction of Commitments During the Revolving Credit Period, the Company may, upon at least three Domestic Business Days’ notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $25,000,000 or any larger multiple thereof, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the Loans.

  • Termination or Reduction of Revolving Credit Commitments The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent (which shall promptly notify each Lender thereof), to terminate the Revolving Credit Commitments or, from time to time, to reduce the amount of the Revolving Credit Commitments; provided that no such termination or reduction of Revolving Credit Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Credit Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Credit Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Credit Commitments then in effect.

  • Termination or Reduction of Aggregate Revolving Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate Revolving Commitments; provided that (i) any such notice shall be 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 $5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Aggregate Revolving Commitments and (iv) if, after giving effect to any reduction of the Aggregate Revolving Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Revolving Commitments, such 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 Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination.

  • Optional Termination or Reduction of Commitment The Borrowers on behalf of the applicable Funds shall have the right upon at least three business days prior written notice to CAPCO, to terminate or reduce the unused portion of the Commitment. Any such reduction of the Commitment shall be in the amount of U.S. $5,000,000 or any larger integral multiple of U.S. $1,000,000 (EXCEPT that any reduction may be in the aggregate amount of the unused Commitment). Accrued fees with respect to the terminated Commitment shall be payable to CAPCO on the effective date of such termination.

  • Termination and Reduction of Revolving Commitments (a) Unless previously terminated, the Revolving Commitments shall terminate on the Maturity Date.

  • Termination or Reduction of Commitment Borrower may, upon notice to Lender, terminate the Commitment, or from time to time permanently reduce the Commitment; provided that (i) any such notice shall be received by Lender not later than 12:00 p.m. five (5) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000 or any whole multiple of $10,000 in excess thereof, (iii) Borrower shall not terminate or reduce the Commitment if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Commitment, and (iv) if, after giving effect to any reduction of the Commitment or the L/C Sublimit exceeds the amount of the Commitment, the L/C Sublimit shall be automatically reduced by the amount of such excess. All fees accrued until the effective date of any termination of the Commitment shall be paid on the effective date of such termination.

  • Termination or Reduction of Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be 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, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such 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 Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

Time is Money Join Law Insider Premium to draft better contracts faster.