Common use of Changes of Commitments Clause in Contracts

Changes of Commitments. (a) The Borrower shall have the right to terminate or to reduce the amount of the Aggregate Commitments at any time or from time to time upon not less than three (3) Business Days' prior notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $10,000,000 or any whole multiple of $1,000,000 in excess thereof) and shall be irrevocable and effective only upon receipt by the Administrative Agent.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Ashland Inc), Credit Agreement (Ashland Inc.), Joinder Agreement (Ashland Inc)

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Changes of Commitments. (a) The Borrower Company on behalf of an Obligor shall have the right to terminate or to reduce the amount of the Aggregate Commitments at any time or from time to time upon not less than three two (32) Business Days' prior notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $10,000,000 or any whole multiple of $1,000,000 in excess thereof) and shall be irrevocable and effective only upon receipt by the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Eex Corp), Credit Agreement (Enserch Exploration Inc)

Changes of Commitments. (a) The Borrower Company shall have the right to terminate or to reduce the amount of the Aggregate Commitments at any time or from time to time upon not less than three (3) Business Days' Day's prior written notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $10,000,000 5,000,000 or any whole multiple increment of $1,000,000 5,000,000 in excess thereof) and shall be irrevocable and effective only upon receipt by the Administrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Houston Exploration Co), Credit Agreement (Houston Exploration Co)

Changes of Commitments. (a) The Borrower shall have the right to terminate or to reduce the amount of the Aggregate Revolving Credit Commitments at any time time, or from time to time time, upon not less than three (3) Business Days' prior notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $10,000,000 2,000,000 or any whole multiple of $1,000,000 2,000,000 in excess thereof) and shall be irrevocable and effective only upon receipt by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Buckeye Partners L P)

Changes of Commitments. (a) The Borrower shall have the right to terminate or to reduce the amount of the Aggregate Revolving Credit Commitments at any time time, or from time to time time, upon not less than three (3) Business Days' prior notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $10,000,000 2,000,000 or any whole multiple of $1,000,000 2,000,000 in excess thereof) and shall be irrevocable and effective only upon receipt by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Buckeye Partners L P)

Changes of Commitments. (a) The Borrower shall have the right to terminate or to reduce the amount of the Aggregate Credit Commitments at any time time, or from time to time time, upon not less than three (3) Business Days' prior notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $10,000,000 2,000,000.00 or any whole multiple of $1,000,000 1,000,000.00 in excess thereof) and shall be irrevocable and effective only upon receipt by the Administrative Agent.

Appears in 1 contract

Samples: Subordinate Credit Agreement (Crimson Exploration Inc.)

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Changes of Commitments. (a) The Borrower Company shall have the right to terminate or to reduce the amount of the Aggregate Commitments at any time or from time to time upon not less than three (3) Business Days' Day's prior written notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $10,000,000 5,000,000 or any whole multiple increment of $1,000,000 5,000,000 in excess thereof) and shall be irrevocable and effective only upon receipt by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Houston Exploration Co)

Changes of Commitments. (a) The Borrower shall have the right to terminate or to reduce the amount of the Aggregate Revolving Credit Commitments at any time time, or from time to time time, upon not less than three (3) Business Days' prior notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $10,000,000 1,000,000 or any whole multiple of $1,000,000 in excess thereof) and shall be irrevocable and effective only upon receipt by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Buckeye GP Holdings L.P.)

Changes of Commitments. (a) The Borrower Company shall have the right to terminate or to reduce the amount of the Aggregate Commitments at any time or from time to time upon not less than three (3) Business Days' Day’s prior written notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $10,000,000 5,000,000 or any whole multiple increment of $1,000,000 5,000,000 in excess thereof) and shall be irrevocable and effective only upon receipt by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Houston Exploration Co)

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