Commitment Reductions, Etc. (i) The Commitment of each Lender shall be automatically reduced to zero on the Termination Date of such Lender. In addition, the U.S. Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that (x) the Total Commitments shall not be reduced pursuant to this sentence to an amount which is less than the Total Outstandings, (y) each partial reduction shall be in an aggregate amount of at least $10,000,000 or any integral multiple of $1,000,000 in excess thereof and (z) a reduction in the Commitments shall not be allowed if, as a result thereof, the Commitments would be reduced to an amount which is less than the sum of the Swing Loan Commitments plus the Letter of Credit Sublimit. Each Commitment reduction pursuant to this Section 2.06(a)(i) shall be permanent (subject, however, to the rights of the U.S. Borrower under Section 2.06(b)). (ii) The Swing Loan Commitment of each Swing Loan Lender shall be automatically reduced to zero on the Termination Date of such Swing Loan Lender. In addition, the Swing Loan Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion of the Swing Loan Commitment of the Swing Loan Lenders, provided that each partial reduction shall be in an aggregate amount of at least the Dollar Equivalent $10,000,000. Each Swing Loan Commitment reduction pursuant to this Section 2.06(a)(ii) shall be permanent (subject, however, to the rights of the U.S. Borrower under Section 2.06(b)).
Appears in 2 contracts
Sources: Credit Agreement (FMC Corp), Credit Agreement (FMC Corp)
Commitment Reductions, Etc. (i) The Commitment of each Lender shall be automatically reduced to zero on the Termination Date of such Lender. In addition, the U.S. Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Commitments shall not be reduced pursuant to this sentence to an amount which is less than the Total Outstandings, (y) each partial reduction shall be in an aggregate amount of at least $10,000,000 or any integral multiple of $1,000,000 in excess thereof and (z) a reduction in the Commitments shall not be allowed if, as a result thereof, the Commitments would be reduced to an amount which is less than the sum of the Total Swing Loan Commitments plus the Letter of Credit SublimitFacility. Each Commitment reduction pursuant to this Section 2.06(a)(i) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)).
(ii) The Swing Loan Commitment of each Swing Loan Lender Bank shall be automatically reduced to zero on the Termination Date of such Swing Loan LenderBank. In addition, the Swing Loan Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion portions of Total Swing Loan Commitments, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Swing Loan Commitments shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of the Swing Loans at such time, (y) the Swing Loan Commitment of the any Swing Loan Lenders, provided that Bank shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of Swing Loans of such Swing Loan Bank at such time and (z) each partial reduction shall be in an aggregate amount of at least the Dollar Equivalent $10,000,000. Each Swing Loan Commitment reduction pursuant to this Section 2.06(a)(ii) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)).
Appears in 2 contracts
Sources: Credit Agreement (Marriott International Inc /Md/), Credit Agreement (Marriott International Inc /Md/)
Commitment Reductions, Etc. (i) The Commitment of each Lender shall be automatically reduced to zero on the Termination Date of such Lender. In addition, the U.S. Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that (x) the Total Commitments shall not be reduced pursuant to this sentence to an amount which is less than the Total Outstandings, (y) each partial reduction shall be in an aggregate amount of at least $10,000,000 or any integral multiple of $1,000,000 in excess thereof and (z) a reduction in the Commitments shall not be allowed if, as a result thereof, the Commitments would be reduced to an amount which is less than the sum of the Swing Loan Commitments plus the Letter of Credit SublimitSub-Facility. Each Commitment reduction pursuant to this Section 2.06(a)(i) shall be permanent (subject, however, to the rights of the U.S. Borrower under Section 2.06(b)).
(ii) The Swing Loan Commitment of each the Swing Loan Lender shall be automatically reduced to zero on the Termination Date of such the Swing Loan Lender. In addition, the a Swing Loan Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion of the Swing Loan Commitment of the Swing Loan LendersLender, provided that each partial reduction shall be in an aggregate amount of at least the Dollar Equivalent $10,000,000. Each Swing Loan Commitment reduction pursuant to this Section 2.06(a)(ii) shall be permanent (subject, however, to the rights of the U.S. Borrower under Section 2.06(b)).
Appears in 2 contracts
Sources: Credit Agreement (FMC Corp), Credit Agreement (FMC Corp)
Commitment Reductions, Etc. (i) The Commitment of each Lender shall be automatically reduced to zero on the Termination Date of such Lender. In addition, the U.S. Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Commitments shall not be reduced pursuant to this sentence to an amount which is less than the Total Outstandings, (y) each partial reduction shall be in an aggregate amount of at least $10,000,000 or any integral multiple of $1,000,000 in excess thereof and (z) a reduction in the Commitments shall not be allowed if, as a result thereof, the Commitments would be reduced to an amount which is less than the sum of the Total Dollar Swing Loan Commitments plus the Total Multicurrency Swing Loan Commitments plus the Letter of Credit SublimitFacility. Each Commitment reduction pursuant to this Section 2.06(a)(i) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)).
(ii) [Intentionally omitted].
(iii) The Dollar Swing Loan Commitment of each Dollar Swing Loan Lender Bank shall be automatically reduced to zero on the Termination Date of such Dollar Swing Loan LenderBank. In addition, the Swing Loan Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion portions of their respective Dollar Swing Loan Commitments of the Dollar Swing Loan Commitment of the Swing Loan LendersBanks, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Dollar Swing Loan Commitments shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of the Dollar Swing Loans at such time and (y) each partial reduction shall be in an aggregate amount of at least the Dollar Equivalent $10,000,000. Each Dollar Swing Loan Commitment reduction pursuant to this Section 2.06(a)(ii) shall be permanent (subject, however, to the rights of the U.S. Borrower under Section 2.06(b)).SECOND AMENDED AND RESTATED CREDIT AGREEMENT
Appears in 1 contract
Commitment Reductions, Etc. (i) The Commitment of each Lender shall be automatically reduced to zero on the Termination Date of such Lender. In addition, the U.S. Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Commitments shall not be reduced pursuant to this sentence to an amount which is less than the Total Outstandings, (y) each partial reduction shall be in an aggregate amount of at least $10,000,000 or any integral multiple of $1,000,000 in excess thereof and (z) a reduction in the Commitments shall not be allowed if, as a result thereof, the Commitments would be reduced to an amount which is less than the sum of the Total Swing Loan Commitments plus the Letter of Credit SublimitFacility. Each Commitment reduction pursuant to this Section 2.06(a)(i) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)).
(ii) The Swing Loan Commitment of each Swing Loan Lender Bank shall be automatically reduced to zero on the Termination Date of such Swing Loan LenderBank. In addition, the Swing Loan Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion portions of Total Swing Loan Commitments, provided that the Company may FIFTH AMENDED AND RESTATED CREDIT AGREEMENT condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Swing Loan Commitments shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of the Swing Loans at such time, (y) the Swing Loan Commitment of the any Swing Loan Lenders, provided that Bank shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of Swing Loans of such Swing Loan Bank at such time and (z) each partial reduction shall be in an aggregate amount of at least the Dollar Equivalent $10,000,000. Each Swing Loan Commitment reduction pursuant to this Section 2.06(a)(ii) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)).
Appears in 1 contract
Commitment Reductions, Etc. (i) The Commitment of each Lender shall be automatically reduced to zero on the Termination Date of such Lender. In addition, the U.S. Borrower shall have the right, upon at least three Business Days’ ' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that (x) the Total Commitments shall not be reduced pursuant to this sentence to an amount which is less than the Total Outstandings, (y) each partial reduction shall be in an aggregate amount of at least $10,000,000 or any integral multiple of $1,000,000 in excess thereof and (z) a reduction in the Commitments shall not be allowed if, as a result thereof, the Commitments would be reduced to an amount which is less than the sum of the Swing Loan Commitments plus the Letter of Credit SublimitSub-Facility. Each Commitment reduction pursuant to this Section 2.06(a)(i) shall be permanent (subject, however, to the rights of the U.S. Borrower under Section 2.06(b)).
(ii) The Swing Loan Commitment of each the Swing Loan Lender shall be automatically reduced to zero on the Termination Date of such the Swing Loan Lender. In addition, the a Swing Loan Borrower shall have the right, upon at least three Business Days’ ' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion of the Swing Loan Commitment of the Swing Loan LendersLender, provided that each partial reduction shall be in an aggregate amount of at least the Dollar Equivalent $10,000,000. Each Swing Loan Commitment reduction pursuant to this Section 2.06(a)(ii) shall be permanent (subject, however, to the rights of the U.S. Borrower under Section 2.06(b)).
Appears in 1 contract
Sources: Credit Agreement (FMC Corp)
Commitment Reductions, Etc. (i) The Commitment of each Lender shall be automatically reduced to zero on the Termination Date of such Lender. In addition, the U.S. Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Commitments shall not be reduced pursuant to this sentence to an amount which is less than the Total Outstandings, (y) each partial reduction shall be in an aggregate amount of at least $10,000,000 or any integral multiple of $1,000,000 in excess thereof and (z) a reduction in the Commitments shall not be allowed if, as a result thereof, the Commitments would be reduced to an amount which is less than the sum of the Total THIRD AMENDED AND RESTATED CREDIT AGREEMENT Dollar Swing Loan Commitments plus the Total Multicurrency Swing Loan Commitments plus the Letter of Credit SublimitFacility. Each Commitment reduction pursuant to this Section 2.06(a)(i) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)).
(ii) [Intentionally omitted].
(iii) The Dollar Swing Loan Commitment of each Dollar Swing Loan Lender Bank shall be automatically reduced to zero on the Termination Date of such Dollar Swing Loan LenderBank. In addition, the Swing Loan Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion portions of their respective Dollar Swing Loan Commitments of the Dollar Swing Loan Commitment of the Swing Loan LendersBanks, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Dollar Swing Loan Commitments shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of the Dollar Swing Loans at such time and (y) each partial reduction shall be in an aggregate amount of at least the Dollar Equivalent $10,000,000. Each Dollar Swing Loan Commitment reduction pursuant to this Section 2.06(a)(ii2.06(a)(iii) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)).
(iv) The Multicurrency Swing Loan Commitment of each Multicurrency Swing Loan Bank shall be automatically reduced to zero on the Termination Date of such Multicurrency Swing Loan Bank. In addition, the Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of their respective Multicurrency Swing Loan Commitments of the Multicurrency Swing Loan Banks, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Multicurrency Swing Loan Commitments shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of the Multicurrency Swing Loans at such time and (y) each partial reduction shall be in an aggregate amount of at least $10,000,000. Each Multicurrency Swing Loan Commitment reduction pursuant to this Section 2.06(a)(iv) shall be permanent (subject, however, to the rights of the Company under Section 2.06(b)).
Appears in 1 contract
Commitment Reductions, Etc. (i) The Commitment of each Lender shall be automatically reduced to zero on the Termination Date of such Lender. In addition, the U.S. Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Commitments shall not be reduced pursuant to this sentence to an amount which is less than the Total Outstandings, (y) each partial reduction shall be in an aggregate amount of at least $10,000,000 or any integral multiple of $1,000,000 in excess thereof and (z) a reduction in the Commitments shall not be allowed if, as a result thereof, the Commitments would be reduced to an amount which is less than the sum of the Total Dollar Swing Loan Commitments plus the Total Multicurrency Swing Loan Commitments plus the Letter of Credit SublimitFacility. Each Commitment reduction pursuant to this Section 2.06(a)(i) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)).
(ii) If the Expiration Date occurs, the Total Commitments automatically and permanently (but subject to potential future increase under Section 2.06(b)) shall be reduced on such date, ratably among the Lenders, to $2,500,000,000 (or, if the Total Commitments were reduced in accordance with this Agreement on or prior to such date to a lesser amount, such lesser amount).
(iii) The Dollar Swing Loan Commitment of each Dollar Swing Loan Lender Bank shall be automatically reduced to zero on the Termination Date of such Dollar Swing Loan LenderBank. In addition, the Swing Loan Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion portions of their respective Dollar Swing Loan Commitments of the Dollar Swing Loan Commitment of the Swing Loan LendersBanks, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Dollar Swing Loan Commitments shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of the Dollar Swing Loans at such time and (y) each partial reduction shall be in an aggregate amount of at least the Dollar Equivalent $10,000,000. Each Dollar Swing Loan Commitment reduction pursuant to this Section 2.06(a)(ii2.06(a)(iii) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)). FOURTH AMENDED AND RESTATED CREDIT AGREEMENT
(iv) The Multicurrency Swing Loan Commitment of each Multicurrency Swing Loan Bank shall be automatically reduced to zero on the Termination Date of such Multicurrency Swing Loan Bank. In addition, the Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of their respective Multicurrency Swing Loan Commitments of the Multicurrency Swing Loan Banks, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Multicurrency Swing Loan Commitments shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of the Multicurrency Swing Loans at such time and (y) each partial reduction shall be in an aggregate amount of at least $10,000,000. Each Multicurrency Swing Loan Commitment reduction pursuant to this Section 2.06(a)(iv) shall be permanent (subject, however, to the rights of the Company under Section 2.06(b)).
Appears in 1 contract
Commitment Reductions, Etc. (i) The Commitment of each Lender shall be automatically reduced to zero on the Termination Date of such Lender. In addition, the U.S. Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Commitments shall not be reduced pursuant to this sentence to an amount which is less than the Total Outstandings, (y) each partial reduction shall be in an aggregate amount of at least $10,000,000 or any integral multiple of $1,000,000 in excess thereof and (z) a reduction in the Commitments shall not be allowed if, as a result thereof, the Commitments would be reduced to an amount which is less than the sum of the Total Swing Loan Commitments plus the Letter of Credit SublimitFacility. Each Commitment reduction pursuant to this Section 2.06(a)(i) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)).. FIFTH AMENDED AND RESTATED CREDIT AGREEMENT
(ii) The Swing Loan Commitment of each Swing Loan Lender Bank shall be automatically reduced to zero on the Termination Date of such Swing Loan LenderBank. In addition, the Swing Loan Borrower Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion portions of Total Swing Loan Commitments, provided that the Company may condition any such notice upon the consummation of an acquisition, disposition, financing or other event, provided further that (x) the Total Swing Loan Commitments shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of the Swing Loans at such time, (y) the Swing Loan Commitment of the any Swing Loan Lenders, provided that Bank shall not be reduced pursuant to this sentence to an amount which is less than the aggregate outstanding principal amount of Swing Loans of such Swing Loan Bank at such time and (z) each partial reduction shall be in an aggregate amount of at least the Dollar Equivalent $10,000,000. Each Swing Loan Commitment reduction pursuant to this Section 2.06(a)(ii) shall be permanent (subject, however, to the rights of the U.S. Borrower Company under Section 2.06(b)).
Appears in 1 contract