Decrease in Commitment Clause Samples
Decrease in Commitment. Notwithstanding anything to the contrary herein or in any of the Loan Documents, and so long as no Event of Default exists, Borrower may decrease, but not increase, the maximum principal amount available for borrowing under Line of Credit B (a "Decreased Commitment-Line of Credit B"), subject to all terms, conditions and limitations set forth herein and in Line of Credit Note B, upon ten (10) days prior written notice to Bank in accordance with the provisions of Section 7.2 hereof, provided that (i) a proportionate decrease has been requested to Line of Credit A pursuant to the provisions of Section 1.1(d) hereof, based upon the total commitments then outstanding under Line of Credit A and Line of Credit B; and (ii) at the time that Borrower requests the Decreased Commitment-Line of Credit B and at all times thereafter until implementation of the decrease by Bank, the outstanding principal balance of Line of Credit B is equal to or less than the Decreased Commitment. Borrower agrees to execute and deliver any documents reasonably requested by Bank to effectuate such Decreased Commitment.
Decrease in Commitment. In the event that on the date that is six months after the date that Centaur becomes a Subsidiary, the Factoring Agreement remains in effect, the Aggregate Commitments shall be reduced on such date by an amount equal the Dollar equivalent of the commitment amount of Fortis to factor or discount the accounts of Centaur or otherwise extend credit to Centaur under the Factoring Agreement (the “Fortis Commitment”) as determined by the Administrative Agent at such time on the basis of the Spot Rate (the “Commitment Adjustment Amount”).
Decrease in Commitment. In the event that on November 8, 2010, the Factoring Agreement remains in effect, the Aggregate Commitments shall be reduced on such date by an amount equal the Dollar equivalent of the commitment amount of Fortis to factor or discount the accounts of Centaur or otherwise extend credit to Centaur under the Factoring Agreement (the “Fortis Commitment”) as determined by the Administrative Agent at such time on the basis of the Spot Rate (the “Commitment Adjustment Amount”).