Common use of Voluntary Termination or Reduction Clause in Contracts

Voluntary Termination or Reduction. The Company may at any time terminate or from time to time reduce the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is $15,000,000 or a larger multiple of $1,000,000 and (ii) the Company shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Syndicated Loans in accordance with Section 2.09, the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total Commitments.

Appears in 9 contracts

Samples: Execution (International Paper Co /New/), Year Credit Agreement (International Paper Co /New/), Year Credit Agreement (International Paper Co /New/)

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Voluntary Termination or Reduction. The Company may at any time terminate terminate, or from time to time reduce reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is $15,000,000 2,000,000 or a larger multiple of $1,000,000 and (ii) the Company shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Syndicated Loans in accordance with Section 2.092.10, the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total Commitments.

Appears in 3 contracts

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

Voluntary Termination or Reduction. The Company may at any time terminate terminate, or from time to time reduce reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is $15,000,000 25,000,000 or a larger multiple of $1,000,000 5,000,000; and (ii) the Company shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Syndicated Revolving Loans in accordance with Section 2.092.11, (x) the sum of the total Revolving Total Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans Exposure would exceed the total CommitmentsTotal Commitment or (y) any Lender’s Credit Exposure would exceed such Lender’s Commitment.

Appears in 3 contracts

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

Voluntary Termination or Reduction. The Company may at any time terminate terminate, or from time to time reduce reduce, the Revolving Credit Commitments; provided that (i) each reduction of the Revolving Credit Commitments shall be in an amount that is $15,000,000 2,000,000 or a larger multiple of $1,000,000 and (ii) the Company shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Syndicated Loans in accordance with Section 2.092.10, the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total CommitmentsAggregate Commitment.

Appears in 2 contracts

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

Voluntary Termination or Reduction. The Company may at any time terminate terminate, or from time to time reduce reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is $15,000,000 or a larger an integral multiple of $1,000,000 5,000,000 and not less than $5,000,000 and (ii) the Company shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Syndicated Loans in accordance with Section 2.092.11, the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total Commitments.

Appears in 2 contracts

Samples: Credit Agreement (Newell Rubbermaid Inc), Credit Agreement (Newell Rubbermaid Inc)

Voluntary Termination or Reduction. The Company may at any time terminate terminate, or from time to time reduce reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is $15,000,000 25,000,000 or a larger multiple of $1,000,000 5,000,000; and (ii) the Company shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Syndicated Revolving Loans in accordance with Section 2.092.11, the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total Commitmentslesser of (x) the Total Commitment and (y) the Borrowing Base.

Appears in 2 contracts

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

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Voluntary Termination or Reduction. The Company may at any time terminate or from time to time reduce the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is $15,000,000 or a larger multiple of $1,000,000 and (ii) the Company shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Syndicated Loans in accordance with Section 2.09, the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total CommitmentsCommitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (International Paper Co /New/)

Voluntary Termination or Reduction. The Company may at any time terminate terminate, or from time to time reduce reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is $15,000,000 25,000,000 or a larger multiple of $1,000,000 5,000,000; and (ii) the Company shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Syndicated Revolving Loans in accordance with Section 2.092.11, (x) the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total CommitmentsTotal Commitment or (y) any Lender’s Credit Exposure would exceed such Lender’s Commitment.

Appears in 1 contract

Samples: Credit Agreement (Brunswick Corp)

Voluntary Termination or Reduction. The Company may at any time terminate terminate, or from time to time reduce reduce, the unutilized amount of the Revolving Credit Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is $15,000,000 5,000,000 or a larger multiple of $1,000,000 and (ii) the Company shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Syndicated Revolving Credit Loans in accordance with Section 2.09, the sum of total Revolving Credit Exposures would exceed the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total Commitments.

Appears in 1 contract

Samples: Credit Agreement (Advo Inc)

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