Examples of Total Unutilized Commitment in a sentence
Pursuant to Section 3.02 of the Credit Agreement, the Borrower hereby terminates the Total Unutilized Commitment in whole, effective as of the Third Amendment Effective Date.
Upon at least five Business Days' prior telephonic notice confirmed in writing to the Agent (which notice the Agent shall promptly transmit to each of the Lenders), the Company shall have the right, without premium or penalty, to terminate the Total Unutilized Commitment in part or in whole; provided, that any such partial termination (a) shall apply proportionately to the Commitment of each of the Lenders and (b) shall be in the amount of $5,000,000 or, if greater, an integral multiple of $1,000,000.
Except with respect to Loans made pursuant to Section 3.03(b), the aggregate principal amount of each Borrowing made by the Lenders shall not be less than the lesser of (i) $3,000,000 and (ii) the Total Unutilized Commitment and, if greater, shall be an integral multiple of $1,000,000.
The aggregate principal amount of each Borrowing of Loans shall be not less than $2,000,000, provided that Borrowings of Loans constituting Base Rate Loans may be made in amounts not less than $1,000,000 (or, if less, the amount of the Total Unutilized Commitment) but at no time shall there be outstanding more than ten Eurodollar Loans.
Upon at least two Business Days' prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Banks), the Borrower shall have the right, at any time or from time to time, without premium or penalty, to terminate or partially reduce the Total Unutilized Commitment, in integral multiples of $1,000,000; provided that each such reduction shall apply proportionately to permanently reduce the Commitment of each Bank.