TERMINATION OR REDUCTION OF COMMITMENTS definition

TERMINATION OR REDUCTION OF COMMITMENTS. The Company may terminate the unused commitments in amounts of at least $25 million at any time on three business days' written notice. In addition, in the event of a sale of assets which exceeds the percentage of Consolidated Net Assets set forth in paragraph 15 of the Covenants section below, a mandatory reduction of the Aggregate Commitment under the 5-Year Facility (and prepayment of any outstanding borrowings thereunder in excess of such reduced Aggregate Commitment) will be required in the amount by which the net proceeds from such sale exceed such percentage of Consolidated Net Assets.

Examples of TERMINATION OR REDUCTION OF COMMITMENTS in a sentence

  • TERMINATION OR REDUCTION OF COMMITMENTS: The Company may reduce the Revolving Credit Facility commitment in amounts of at least $5,000,000 or terminate it in its entirety at any time on five (5) business days notice, subject to customary yield protection and payment provisions.

  • MANDATORY TERMINATION OR REDUCTION OF COMMITMENTS.......................

  • THE COMMITMENTS AND CREDIT EXTENSIONS 29 2.01 COMMITTED LOANS 29 2.02 BORROWINGS, CONVERSIONS AND CONTINUATIONS OF COMMITTED LOANS 29 2.03 INTENTIONALLY OMITTED 30 2.04 LETTERS OF CREDIT 30 2.05 SWING LINE LOANS 39 2.06 PREPAYMENTS 42 2.07 TERMINATION OR REDUCTION OF COMMITMENTS 43 2.08 REPAYMENT OF LOANS 43 2.09 INTEREST 43 2.10 FEES 44 2.11 COMPUTATION OF INTEREST AND FEES; RETROACTIVE ADJUSTMENTS OF APPLICABLE RATE 44 2.12 EVIDENCE OF DEBT.

  • MANDATORY TERMINATION OR REDUCTION OF COMMITMENTS.................................

  • DEFAULT RATE: After the occurrence and during the existence of a Default, interest on the Loans shall accrue at a rate equal to the then highest rate which may be applicable to any of the Loans plus 2.0% TERMINATION OR REDUCTION OF COMMITMENTS: The Borrower may, upon at least three Domestic Business Days' notice to the Bank, terminate or reduce the Unused Commitments.

Related to TERMINATION OR REDUCTION OF COMMITMENTS

  • Revolving Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Revolving Commitment, if any, is set forth on Appendix A-3 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Revolving Commitments as of the Closing Date is $60,000,000.

  • Revolving Credit Commitment Termination Date means the earliest to occur of (i) other than with respect to Extended Revolving Credit Commitments, August 28, 2022, (ii) the date the Revolving Credit Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14, (iii) the date of the termination of the Revolving Credit Commitments pursuant to Section 8.2, and (iv) solely with respect to any Extended Revolving Credit Commitments, the applicable Extended Maturity Date.

  • Total Utilization of Revolving Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the Issuing Bank for any amount drawn under any Letter of Credit, but not yet so applied), (ii) the aggregate principal amount of all outstanding Swing Line Loans and (iii) the Letter of Credit Usage.

  • Aggregate Commitments means the Commitments of all the Lenders.

  • Revolving Commitment Termination Date means the earliest of (i) November 3, 2017, (ii) the date on which the Revolving Commitments are terminated pursuant to Section 2.9 and (iii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise); provided, that, with respect to any Extended Revolving Commitment (and the Extended Revolving Loans made pursuant thereto), the termination date set forth in the Extension Offer with respect thereto.

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Total Utilization of Revolving Loan Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the applicable Issuing Lender for any amount drawn under any Letter of Credit but not yet so applied) plus (ii) the aggregate principal amount of all outstanding Swing Line Loans plus (iii) the Letter of Credit Usage.

  • Aggregate Commitment means the aggregate of the Commitments of all of the Lenders, as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Commitment is $500,000,000.

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).

  • Revolving Loan Commitment Termination Date means the earliest of

  • Aggregate Revolving Commitments means the Revolving Commitments of all the Lenders, as adjusted from time to time in accordance with the terms hereof. The initial amount of the Aggregate Revolving Commitments in effect on the Closing Date is SEVEN HUNDRED MILLION DOLLARS ($700,000,000.00).

  • Total Facility B Commitments means the aggregate of the Facility B Commitments, being €30,000,000 at the date of this Agreement.

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • Total Commitments means the aggregate of the Commitments of all the Lenders.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Total Commitment means, at any time, the sum of the Commitments of each of the Lenders at such time.

  • Other Revolving Commitments means one or more Classes of revolving credit commitments hereunder or extended Revolving Commitments that result from a Refinancing Amendment.

  • Term Loan Commitment Termination Date means the earliest to occur of (a) the Amendment No. 9 Effective Date, (b) the date the Term Loan Commitments are permanently reduced to zero pursuant to 2.01(b) and (c) the date of the termination of the Term Loan Commitments pursuant to Section 9.01.

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • Aggregate Revolving Credit Commitments means, at any time, the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders at such time.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Revolving Credit Aggregate Commitment means Eighty Million Dollars ($80,000,000.00), subject to increases pursuant to Section 2.12 hereof up to the Revolving Credit Optional Increase Amount, and subject to reduction or termination under Section 2.11 or 9.2 hereof.

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

  • Replacement Revolving Facility Effective Date shall have the meaning assigned to such term in Section 2.21(l).

  • Total Revolving Commitments at any time, the aggregate amount of the Revolving Commitments then in effect.