Reductions of Commitments Sample Clauses
Reductions of Commitments. Each reduction of the Commitments under Section 2.11. shall be in an aggregate minimum amount of $10,000,000 and integral multiples of $5,000,000 in excess thereof.
Reductions of Commitments. (a) At any time the Borrower may, upon at least ten (10) Business Days’ prior written notice to the Administrative Agent, each Agent, the Securities Intermediary and each Hedge Counterparty, if any, reduce the Facility Amount, which shall be applied, unless otherwise consented to by the Administrative Agent (acting at the direction of the Required Lenders) and the Agents, pro rata to the Aggregate Commitment. Each partial reduction shall be in a minimum aggregate amount of $5,000,000 or integral multiples of $1,000,000 in excess thereof. Reductions of the Aggregate Commitment pursuant to this Section shall be allocated to the Commitment of each Committed Lender and each Conduit Lender, pro rata based on the Lender Percentage of the Aggregate Commitment represented by such Commitment. Any request for a reduction in the Facility Amount shall be irrevocable and the Borrower shall deliver no more than two such requests in any 12-month period.
(b) In connection with any reduction of the Facility Amount, the Borrower shall remit (i) first, to each applicable Agent for the ratable payment to each Lender, the amount sufficient to pay the Aggregate Unpaids due to such Lenders with respect to such reduction of the Facility Amount, including any associated Breakage Costs and (ii) second, to the relevant Hedge Counterparty, any Hedge Breakage Costs due to such Hedge Counterparty with respect to the reduction of the Loans Outstanding; provided, however, that no such reduction shall be given effect unless the Borrower has complied with the terms of any Hedging Agreement requiring that any Hedge Transaction related thereto be terminated in whole or in part as a result of any such reduction in the Loans Outstanding.
(c) On the Revolving Period Termination Date, the Commitments of all Lenders shall be automatically reduced to zero.
Reductions of Commitments. 15 2.03 Fees..............................................................15 2.04
Reductions of Commitments. Each reduction of the Revolving Credit Commitments under Section 2.10 shall be in an aggregate minimum amount of $10,000,000.00 and integral multiples of $5,000,000.00 in excess thereof.
Reductions of Commitments. (a) Unless previously reduced to zero, the Total Commitment and each LC Commitment shall be reduced to zero on the Commitment Termination Date.
(b) The Borrower may at any time or from time to time reduce the Total Commitment; provided that (i) each reduction of the Total Commitment (other than a reduction of the Total Commitment to zero) shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the Borrower shall not reduce the Total Commitment if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.08, the aggregate Credit Exposures would exceed the Total Commitment.
(c) The Borrower shall notify the Administrative Agent of any election to reduce the Total Commitment under paragraph (b) of this Section at least three Business Days prior to the effective date of such reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of reduction of the Total Commitment to zero delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or financings, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any reduction of the Total Commitment shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments.
Reductions of Commitments. The Borrower shall have the right at any time and from time to time, without penalty or bonus, upon delivery of a Repayment/Cancellation Notice to the Administrative Agent on the Required Notice, to terminate the whole or reduce in part on a permanent basis the unused portion of the Commitments (pro rata among the Lenders on the basis of their respective Commitments); provided that each partial reduction shall be in an aggregate minimum amount of C$10 million and multiples in excess thereof of C$5 million.
Reductions of Commitments. At any time the Borrower Representative, on behalf of the Borrowers, may, upon at least ten (10) Business Days' prior written notice to the Agent and each Lender, reduce the aggregate Commitment of the Lenders. Each partial reduction shall be in a minimum aggregate amount of five million dollars ($5,000,000) or integral multiples of one million dollars ($1,000,000) in excess thereof, but in no event shall the Commitment be reduced below the Advances Outstanding. Reductions of the Commitments pursuant to this Section 2.6(a) shall reduce the Commitment of each Lender on a pro rata basis such that, after giving effect to a reduction, each Lender's Pro Rata Share is unchanged. Any request for a reduction in the Commitment shall be irrevocable. In connection with any reduction of the Commitment, the Borrower Representative shall deliver to the Agent and to each Lender instructions regarding such reduction.
Reductions of Commitments. Each reduction of the Commitments under -------------------------
Reductions of Commitments. The Company may permanently reduce the Aggregate Revolving Commitment in whole, or in part ratably among the Revolving Lenders, in an aggregate minimum amount of $5,000,000 and in integral multiples of $1,000,000 in excess thereof (which reduction need not be in the minimum amount or integral multiple if the Aggregate Revolving Commitment is reduced in whole) upon at least three Business Day’s prior written notice to the Administrative Agent and each Issuing Bank, which notice shall specify the amount of any such reduction; provided that the amount of the Aggregate Revolving Commitment may not be reduced below the sum of the Dollar Amount of the outstanding Revolving Credit Obligations to remain outstanding after such reduction. All accrued commitment fees shall be payable on the effective date of any termination of all or any part the obligations of the Lenders to make Loans hereunder. Each notice delivered by the Company pursuant to this Section 2.04 shall be irrevocable; provided that a notice of reduction of the Aggregate Revolving Commitment under this Section 2.04 may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.
Reductions of Commitments. (a) At any time the Borrower may, upon at least five Business Days’ prior written notice to the Administrative/Collateral Agent, reduce the Total Commitment in whole or in part. Each partial reduction shall be in an aggregate amount of $25,000,000 or integral multiples of $5,000,000 in excess thereof (or such other amount requested by the Borrower to which the Administrative/Collateral Agent consents). Reductions of the aggregate Commitments pursuant to this subsection 2.5(a) of this Agreement shall be allocated (i) to the Maximum Loan Amount of each Noncommitted Lender, pro rata based on the Noncommitted Percentage represented by such Maximum Loan Amount, and (ii) to the aggregate Commitments of Committed Lenders for each Noncommitted Lender pro rata based on their respective Adjusted Commitment Percentages. The Administrative/Collateral Agent shall promptly deliver a copy of any such notice to each Agent and each Lender.
(b) On the Facility Termination Date, the Commitment of each Lender shall be automatically reduced to zero.