Common use of Changes of Commitment Amounts Clause in Contracts

Changes of Commitment Amounts. (a) The Company shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate or, from time to time, reduce the Revolving Credit Commitments subject to the provisions of this Section 5.4. To the extent, if any, that the sum of the Revolving Credit Loans, Swing Line Loans, and Revolving L/C Obligations then outstanding and the Dollar Equivalent of the amounts available to be drawn under outstanding Letters of Credit exceeds the Line Cap (after giving effect to the Revolving Credit Commitments as then reduced), the Company shall be required to make a prepayment equal to such excess amount, the proceeds of which shall be applied first, to prepay any Protective Advances, second, to payment of the Swing Line Loans then outstanding, third, to payment of the Revolving Credit Loans then outstanding, fourth, to payment of any Revolving L/C Obligations then outstanding, and fifth, to Cash

Appears in 1 contract

Sources: Credit Agreement (KLX Inc.)

Changes of Commitment Amounts. (a) The Company Borrower shall have ----------------------------- the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate or, or from time to time, time to permanently reduce the Revolving Credit Commitments Commitments, subject to the provisions of this Section 5.4subsection 4.3. To the extent, if any, that the sum of the amount of the Revolving Credit Loans, Swing Line Loans, Loans and Revolving L/C Obligations then outstanding and the Dollar Equivalent of the amounts available to be drawn under outstanding Letters of Credit exceeds the Line Cap (after giving effect to amount of the Revolving Credit Commitments as then reduced), the Company Borrower shall be required to make a prepayment equal to such excess amount, the proceeds of which shall be applied applied, first, to prepay any Protective Advances, second, to payment of the Swing Line Loans then outstanding, thirdsecond, to payment ----- ------ of the Revolving Credit Loans then outstanding, fourththird, to payment of any Revolving L/C ----- Obligations then outstanding, and fifthfourth, to Cashcash collateralize any outstanding ------ Letters of Credit on terms reasonably satisfactory to

Appears in 1 contract

Sources: Credit Agreement (Iwo Holdings Inc)

Changes of Commitment Amounts. (a) The Company Borrower shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate or, or from time to time, time to permanently reduce the Revolving Credit Commitments Commitments, subject to the provisions of this Section 5.4subsection 4.3. To the extent, if any, that the sum of the amount of the Revolving Credit Loans, Swing Line Loans, Loans and Revolving L/C Obligations then outstanding and the Dollar Equivalent of the amounts available to be drawn under outstanding Letters of Credit exceeds the Line Cap (after giving effect to amount of the Revolving Credit Commitments as then reduced), the Company Borrower shall be required to make a prepayment equal to such excess amount, the proceeds of which shall be applied applied, first, to prepay any Protective Advances, second, to payment of the Swing Line Loans then outstanding, thirdsecond, to payment of the Revolving Credit Loans then outstanding, fourththird, to payment of any Revolving L/C Obligations then outstanding, and fifthfourth, to Cashcash collateralize any outstanding Letters of Credit on terms reasonably satisfactory to

Appears in 1 contract

Sources: Credit Agreement (Us Unwired Inc)