Common use of Optional Termination or Reductions of Commitments (Pro-Rata) Clause in Contracts

Optional Termination or Reductions of Commitments (Pro-Rata). The Borrower may, upon at least three Business Days’ prior written notice to the Administrative Agent, permanently (i) terminate the Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.

Appears in 12 contracts

Samples: Revolving Credit Agreement (PPL Energy Supply LLC), Revolving Credit Agreement (PPL Energy Supply LLC), Revolving Credit Agreement (PPL Energy Supply LLC)

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Optional Termination or Reductions of Commitments (Pro-Rata). The Borrower may, upon at least three Business Days’ prior written ' notice to the Administrative Agent, permanently (i) terminate the Revolving Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by a minimum an aggregate amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Revolving Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Revolving Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.

Appears in 5 contracts

Samples: Year Credit Agreement (PPL Electric Utilities Corp), Day Credit Agreement (PPL Montana LLC), Year Credit Agreement (PPL Montana LLC)

Optional Termination or Reductions of Commitments (Pro-Rata). The Borrower may, upon at least three Business Days’ prior written notice to the Administrative Agent, permanently (i) terminate the Revolving Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Revolving Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Revolving Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.

Appears in 4 contracts

Samples: Credit Agreement (PPL Energy Supply LLC), Credit Agreement (PPL Energy Supply LLC), Credit Agreement (PPL Energy Supply LLC)

Optional Termination or Reductions of Commitments (Pro-Rata). The Borrower may, upon at least three Business Days’ prior written notice to the Administrative Agent, permanently (i) terminate the Revolving Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Revolving Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Revolving Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.

Appears in 4 contracts

Samples: Credit Agreement (PPL Energy Supply LLC), Credit Agreement (PPL Energy Supply LLC), Credit Agreement (PPL Energy Supply LLC)

Optional Termination or Reductions of Commitments (Pro-Rata). The Borrower may, upon at least three Business Days’ prior written notice to the Administrative Agent, permanently (i) terminate the Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by a minimum amount of $10,000,000 5,000,000 or any larger integral multiple of $5,000,0001,000,000, the aggregate amount of the Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.

Appears in 3 contracts

Samples: Revolving Credit Agreement (PPL Electric Utilities Corp), Revolving Credit Agreement (PPL Corp), Revolving Credit Agreement (PPL Corp)

Optional Termination or Reductions of Commitments (Pro-Rata). The Borrower may, upon at least three Business Days’ prior written notice to the Administrative Agent, permanently (i) terminate the Commitments, if there are no Revolving Outstandings Letter of Credit Liabilities at such time or (ii) ratably reduce from time to time by a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Commitments in excess of the aggregate Revolving OutstandingsLetter of Credit Liabilities. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.

Appears in 3 contracts

Samples: Credit Agreement (LG&E & KU Energy LLC), Amendment and Restatement Agreement (LG&E & KU Energy LLC), Letter of Credit Agreement (PPL Corp)

Optional Termination or Reductions of Commitments (Pro-Rata). The Borrower may, upon at least three Business Days' prior written notice to the Administrative Agent, permanently (i) terminate the Revolving Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Revolving Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Revolving Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.

Appears in 2 contracts

Samples: Credit Agreement (PPL Electric Utilities Corp), Year Credit Agreement (PPL Electric Utilities Corp)

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Optional Termination or Reductions of Commitments (Pro-Rata). The Borrower may, upon at least three Business Days’ prior written notice to the Administrative Agent, permanently (i) terminate the Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.. (b)

Appears in 2 contracts

Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/), Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)

Optional Termination or Reductions of Commitments (Pro-Rata). The Borrower may, upon at least three Business Days’ prior written notice to the Administrative Agent, permanently (i) terminate the Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.

Appears in 1 contract

Samples: Term Loan Credit Agreement (PPL Electric Utilities Corp)

Optional Termination or Reductions of Commitments (Pro-Rata). The Borrower may, prior to the Closing Date upon at least three Business Days’ prior written notice to the Administrative Agent, permanently (i) terminate the Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Commitments in excess of the aggregate Revolving OutstandingsCommitments. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. If the Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.

Appears in 1 contract

Samples: Credit Agreement (PPL Corp)

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