Common use of Optional Reductions Clause in Contracts

Optional Reductions. The Borrower shall have the right, upon at least three (3) 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 (i) each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) the aggregate of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of Commitments.

Appears in 2 contracts

Samples: Credit Agreement (Viad Corp), Credit Agreement (Viad Corp)

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Optional Reductions. The Borrower Borrowers shall have the right, upon at least three (3) four Business Days' notice to the Administrative AgentAgent by both Borrowers, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; , provided that (i) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount which is less than the aggregate principal amount of the Advances then outstanding, and provided, further, that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) the aggregate of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of Commitments.

Appears in 2 contracts

Samples: Credit Agreement (Computer Sciences Corp), Credit Agreement (Computer Sciences Corp)

Optional Reductions. The Borrower shall have the right, upon at least three (3) four Business Days' notice to the Administrative AgentAgent by the Borrower, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; , provided that (i) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount which is less than the aggregate principal amount of the Advances then outstanding, and provided, further, that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) the aggregate of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of Commitments.

Appears in 2 contracts

Samples: Credit Agreement (Computer Sciences Corp), Credit Agreement (Computer Sciences Corp)

Optional Reductions. The Borrower shall have the right, upon at least three (3) 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 (i) each partial reduction shall be in the aggregate amount of $5,000,000 or an integral a multiple of 20 21 $1,000,000 in excess thereof, and (ii) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of Commitments.

Appears in 1 contract

Samples: Credit Agreement (Dial Corp /New/)

Optional Reductions. The Borrower Borrowers shall have the right, upon at least three (3) four Business Days' notice to the Administrative AgentAgent by both Borrowers, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; , provided that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount which is less than the sum of (i) the aggregate principal amount of the Advances then outstanding and (ii) the aggregate principal amount of Commercial Paper then outstanding, and provided, further, that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) the aggregate of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of Commitments.

Appears in 1 contract

Samples: Credit Agreement (Computer Sciences Corp)

Optional Reductions. The Borrower Borrowers shall have the ------------------- right, upon at least three (3) four Business Days' notice to the Administrative AgentAgent by both Borrowers, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; , provided that (i) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount which is less than the aggregate principal amount of the Advances then outstanding, and provided, further, that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) the aggregate of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of Commitments.

Appears in 1 contract

Samples: Credit Agreement (Computer Sciences Corp)

Optional Reductions. The Borrower shall have the right, upon at least three (3) Business Days' prior notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the unused portions of the respective Tranche A Loan Commitments of the LendersBanks; provided PROVIDED, HOWEVER, that (i) each partial reduction shall be in the aggregate amount of not less than $5,000,000 or an integral multiple of $1,000,000 5,000,000 in excess thereof, and (ii) ; optional reductions may be allocated against Scheduled Tranche A Loan Commitment Reduction Dates in any manner requested by the aggregate of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of CommitmentsBorrower.

Appears in 1 contract

Samples: Credit Agreement (Blockbuster Inc)

Optional Reductions. The Borrower Borrowers shall have the right, upon ------------------- at least three (3) four Business Days' notice to the Administrative AgentAgent by both Borrowers, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; , provided that (i) each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) the aggregate of -------- the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization aggregate principal amount of Commitmentsthe Advances then outstanding, and provided, further, that each partial reduction shall be in the aggregate -------- ------- amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Computer Sciences Corp)

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Optional Reductions. The Borrower shall have the right, upon at least three (3) four 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 (i) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount which is less than the aggregate principal amount of the Total Utilization of Commitments and provided, further, that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) the aggregate of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of Commitments.

Appears in 1 contract

Samples: Credit Agreement (McIi Holdings Usa Inc)

Optional Reductions. The Borrower shall have the right, upon at least three (3) 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 (i) each partial reduction shall be in the aggregate amount of $5,000,000 or an integral a multiple of $1,000,000 in excess thereof, and (ii) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of Commitments.

Appears in 1 contract

Samples: Credit Agreement (Dial Corp /New/)

Optional Reductions. The Borrower shall have the right, upon at least three (3) 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 (i) each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and (ii) the aggregate of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of 32 Commitments.

Appears in 1 contract

Samples: Credit Agreement (Viad Corp)

Optional Reductions. The Borrower shall have the rightmay at any time or from time to time, upon at least not less than three (3) Business Banking Days' ’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenderswhich notice shall be irrevocable; provided that (i) each partial reduction of the Commitments shall be in the an aggregate amount of $5,000,000 1,000,000 or an integral multiple of $1,000,000 500,000 in excess thereof; provided, and (ii) the aggregate of the Commitments of the Lenders shall not be reduced to an amount which is less than the Total Utilization of Commitments.however, that:

Appears in 1 contract

Samples: Credit Agreement (West Marine Inc)

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