Common use of Optional Termination or Reduction Clause in Contracts

Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the then unused Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and integral multiples of $1,000,000 in excess thereof and (ii) any partial reduction shall apply to reduce proportionately and permanently the Commitment of each Lender.

Appears in 3 contracts

Sources: Credit Agreement (Spectra Energy Corp.), Credit Agreement (Spectra Energy Partners, LP), Credit Agreement (Spectra Energy Corp.)

Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the then unused Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and an integral multiples multiple of $1,000,000 in excess thereof 5,000,000 and (ii) any partial reduction shall apply to reduce proportionately and permanently the Commitment of each Lendernot less than $10,000,000.

Appears in 3 contracts

Sources: Credit Agreement (IHS Markit Ltd.), Credit Agreement (IHS Inc.), Credit Agreement (IHS Inc.)

Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the then unused CommitmentsCommitments under any Term Loan Facility; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 5,000,000 and integral multiples of $1,000,000 in excess thereof and (ii) any partial reduction shall apply to reduce proportionately and permanently the Commitment of each LenderLender under such Term Loan Facility.

Appears in 1 contract

Sources: Subordinated Delayed Draw Credit Agreement (Gencorp Inc)

Optional Termination or Reduction. The Borrower Borrowers may at any time terminate, or from time to time reduce, the then unused Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and an integral multiples multiple of $1,000,000 in excess thereof 5,000,000 and (ii) any partial reduction shall apply to reduce proportionately and permanently the Commitment of each Lender.not less than $10,000,000. CREDIT AGREEMENT, Page 27 007751-0138-14324-Active.18411811 #86414519v6

Appears in 1 contract

Sources: Credit Agreement (IHS Inc.)

Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the then unused Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and integral multiples of $1,000,000 in excess thereof and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving effect to any partial reduction shall apply to reduce proportionately and permanently concurrent prepayment of the Commitment Revolving Advances in accordance with Section 2.10, the aggregate outstanding principal amount of each LenderRevolving Advances would exceed the aggregate Commitments.

Appears in 1 contract

Sources: 364 Day Credit Agreement (Spectra Energy Corp.)

Optional Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the then unused Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is at least $10,000,000 and an integral multiples multiple of $1,000,000 in excess thereof and (ii) any partial reduction shall apply to reduce proportionately and permanently the Commitment of each Lendernot less than $1,000,000.

Appears in 1 contract

Sources: Credit Agreement (IHS Markit Ltd.)