Common use of Partial Reduction of Total Revolving Commitment Clause in Contracts

Partial Reduction of Total Revolving Commitment. Upon at least two (2) Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Day) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii) or (iii) unless, substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000).

Appears in 6 contracts

Samples: Credit Agreement (Builders FirstSource, Inc.), Credit Agreement (Builders FirstSource, Inc.), Collateral Agreement (Builders FirstSource, Inc.)

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Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately proportionately, except as set forth in Sections 11.26 and 11.27 (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately proportionately, except as set forth in Sections 11.26 and 11.27, and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans or cash collateralize Letters of Credit pursuant to Section 2.15(c)(ii) or (iii) unless2.13, substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000); provided further that the Unused Total Revolving Commitment shall not be reduced to an amount that is less than the aggregate principal amount of Competitive Bid Loans then outstanding.

Appears in 4 contracts

Samples: Credit Agreement (Circor International Inc), Credit Agreement (Circor International Inc), Credit Agreement (Circor International Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately proportionately, except as set forth in Sections 2.18 (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately proportionately, except as set forth in Sections 2.18, and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans or cash collateralize Letters of Credit pursuant to Section 2.15(c)(ii) or (iii) unless2.13, substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 4 contracts

Samples: Credit Agreement (Circor International Inc), Credit Agreement (Circor International Inc), Credit Agreement (Circor International Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one writing) (1unless such notice expressly conditions such reduction upon consummation of a transaction which is contemplated to result in prepayment of the Loans, in which case such notice may be revoked by Borrower (by notice to the Administrative Agent on or prior to the specified effective date) Business Dayif such condition is not satisfied) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii‎Section 2.13(c)(ii) or (iii) unless‎(iii), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 1,000,000 (or, if greater, in integral multiples of $250,000).

Appears in 3 contracts

Samples: Credit Agreement (Purple Innovation, Inc.), Credit Agreement (Purple Innovation, Inc.), Credit Agreement (Purple Innovation, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two three (23) Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one writing) (1unless such notice expressly conditions such reduction upon consummation of a transaction which is contemplated to result in prepayment of the Loans, in which case such notice may be revoked by the U.S. Borrower (by notice to the Administrative Agent on or prior to the specified effective date) Business Dayif such condition is not satisfied) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the U.S. Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the U.S. Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iii) unless), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 2 contracts

Samples: Credit Agreement (GTT Communications, Inc.), Credit Agreement (GTT Communications, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Revolving Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassRevolving Lender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount and the Maximum Foreign Currency Exposure Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans or cash collateralize Letters of Credit pursuant to Section 2.15(c)(ii) or (iii) unless2.12, substantially concurrently with such reduction the Borrower makes unless such mandatory prepayment or cash collateralization requirement is satisfied and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 2 contracts

Samples: Credit Agreement (RBC Bearings INC), Credit Agreement (RBC Bearings INC)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.12(b)(ii) or (iii) unless), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 1,000,000 (or, if greater, in integral multiples of $250,0001,000,000). If the Total Revolving Commitment is reduced to any amount that is less than the LC Outstandings, the Borrower shall immediately Cash Collateralize the LC Outstandings to the extent of such excess.

Appears in 2 contracts

Samples: Credit Agreement (Kona Grill Inc), Credit Agreement (Kona Grill Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two three (23) Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing occurrence of any other event and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limitslimit, (iii) such reduction shall apply to proportionately and permanently reduce the Swing Line Commitment, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limit, (iv) no such reduction shall be permitted if the any Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iiiSection 2.13(c)(iii) unless, unless substantially concurrently with such reduction the Borrower makes Borrowers make such mandatory prepayment and (ivv) any partial reduction pursuant to this Section 2.14 2.12 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000).

Appears in 2 contracts

Samples: Credit Agreement (PGT Innovations, Inc.), Credit Agreement (PGT Innovations, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Revolver Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Revolver Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately proportionately, except as set forth in Sections 2.18 (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately proportionately, except as set forth in Sections 2.18, and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans or cash collateralize Letters of Credit pursuant to Section 2.15(c)(ii) or (iii) unless2.13, substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 2 contracts

Samples: Credit Agreement (Circor International Inc), Credit Agreement (Circor International Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one writing) (1unless such notice expressly conditions such reduction upon consummation of a transaction which is contemplated to result in prepayment of the Loans, in which case such notice may be revoked by Borrower (by notice to the Administrative Agent on or prior to the specified effective date) Business Dayif such condition is not satisfied) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iii) unless), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 1,000,000 (or, if greater, in integral multiples of $250,000).

Appears in 2 contracts

Samples: Assignment Agreement (Purple Innovation, Inc.), Credit Agreement (Lemaitre Vascular Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Revolving Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassRevolving Lender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount and the Maximum Foreign Currency Exposure Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans or cash collateralize Letters of Credit pursuant to Section 2.15(c)(ii) or (iii) unless2.13, substantially concurrently with such reduction the Borrower makes unless such mandatory prepayment or cash collateralization requirement is satisfied and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 2 contracts

Samples: Credit Agreement (Cooper Companies Inc), Credit Agreement (Cooper Companies Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Day) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii) or (iii) unless, substantially concurrently with such reduction the Borrower makes such mandatory prepayment and prepayment, (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000)) and (v) in no event shall any termination or reduction of the total Amendment No. 6 Non-Extended Revolving Commitments be on less than a pro rata basis (but may be on a greater than pro rata basis) with any termination or reduction of the total Amendment No. 6 Extended Revolving Commitments.

Appears in 1 contract

Samples: Abl Credit Agreement (Builders FirstSource, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) one Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) Day’s prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the of any Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii) or (iii) unless, substantially concurrently with such reduction the Borrower makes Borrowers make such mandatory prepayment and prepayment, (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000).

Appears in 1 contract

Samples: Credit Agreement (Patheon Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans or cash collateralize Letters of Credit pursuant to Section 2.15(c)(ii) or (iii) unless2.13, substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,000$ 1,000,000); provided further that the Unused Total Revolving Commitment shall not be reduced to an amount that is less than the aggregate principal amount of Competitive Bid Loans then outstanding.

Appears in 1 contract

Samples: Credit Agreement (Circor International Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two three (23) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event transaction that will result in the reduction of the Unused Total Revolving Commitment and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the any Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iii) unless, substantially concurrently with such reduction the Borrower makes Borrowers make such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 2.12 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000).

Appears in 1 contract

Samples: Credit Agreement (PGT, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two three (23) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event transaction that will result in the reduction of the Unused Total Revolving Commitment and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limitslimit, (iii) such reduction shall apply to proportionately and permanently reduce the Swing Line Commitment, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limit, (iv) no such reduction shall be permitted if the any Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iiiSection 2.13(c)(iii) unless, substantially concurrently with such reduction the Borrower makes Borrowers make such mandatory prepayment and (ivv) any partial reduction pursuant to this Section 2.14 2.12 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000).

Appears in 1 contract

Samples: Credit Agreement (PGT, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Revolving Lenders), the Borrower Company shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Revolving Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassRevolving Lender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limitslimit, (iii) no such reduction shall be permitted if the Borrower Borrowers would be required to make a mandatory prepayment of Loans or cash collateralize Letters of Credit pursuant to Section 2.15(c)(ii) or (iii) unless2.13, substantially concurrently with such reduction the Borrower makes unless such mandatory prepayment or cash collateralization requirement is satisfied and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 10,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 1 contract

Samples: Credit Agreement (Cooper Companies Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) one Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) Day’s prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iii) ), unless, substantially concurrently with such reduction reduction, the Borrower makes such mandatory prepayment prepayment, and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 1.0 million (or, if greater, in integral multiples of $250,000500,000).

Appears in 1 contract

Samples: Credit Agreement (American Dental Partners Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two one (21) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event transaction that will result in the reduction of the Unused Total Revolving Commitment and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the any Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii) or (iii) unless, substantially concurrently with such reduction the Borrower makes Borrowers make such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000).

Appears in 1 contract

Samples: Credit Agreement (PGT, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two one (21) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the any Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii) or (iiiSection 2.15(c)(iii) unless, substantially concurrently with such reduction the Borrower makes Borrowers make such mandatory prepayment prepayment, and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000).

Appears in 1 contract

Samples: Credit Agreement (Patheon Holdings Cooperatief U.A.)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (except as provided below) (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassApplicable Percentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) in the event that such reduction shall result in a Total Revolving Commitment that is less than the then-effective LC Sublimit, such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only Sublimit to an amount equal to the extent that the Unused then effective Total Revolving Commitment would be reduced below any such limits(as so reduced), (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans or cash collateralize Letters of Credit pursuant to Section 2.15(c)(ii) or (iii) unless2.13, substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,000200,000); provided, further, that a notice of partial reduction of the Total Revolving Commitment may state that such notice is conditioned on the occurrence of other transactions, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Appears in 1 contract

Samples: Credit Agreement (Epiq Systems Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower Borrowers would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iii); (iv) unless, substantially concurrently with no such reduction shall be permitted if, after giving effect to such reduction, the Borrower makes such mandatory prepayment Total Revolving Commitment would be less than $10,000,000, and (ivv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 2,500,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 1 contract

Samples: Credit Agreement (Nautical Miles Inc.)

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Partial Reduction of Total Revolving Commitment. Upon at least two (2) Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Day) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii) or (iii) unless, substantially concurrently with such reduction the Borrower makes such mandatory prepayment and and, (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000).. and (v) in no event shall any termination or reduction of the total Amendment No. 6 Non-Extended Revolving Commitments be on less than a pro rata basis (but may be on a greater than pro rata basis) with any termination or reduction of the total Amendment No. 6

Appears in 1 contract

Samples: Credit Agreement (Builders FirstSource, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two one (21) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion shall agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon on the closing occurrence of any other event and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the of any Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii) or (iii) unless, substantially concurrently with such reduction the Borrower makes Borrowers make such mandatory prepayment and prepayment, (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000).. Table of Contents

Appears in 1 contract

Samples: Credit Agreement (JGWPT Holdings Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two three (23) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Revolving Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment Commitments of any Class; provided, however, that (i) any such reduction shall apply to proportionately (based on each Revolving Lender’s Revolving Facility Percentage within each applicable Class) and permanently reduce the Revolving Commitment of each Revolving Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment AmountTotal Letter of Credit Commitment, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limitslimit, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii) or (iii2.09(c)(i) unless, substantially concurrently with such reduction the Borrower makes Borrowers make such mandatory prepayment prepayment, and (iv) any partial reduction pursuant to this Section 2.14 2.10 shall be in the amount of at least $500,000 (or, if greater, in integral multiples of $250,000100,000).

Appears in 1 contract

Samples: Credit Agreement (Teladoc, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one writing) (1unless such notice expressly conditions such reduction upon consummation of a transaction which is contemplated to result in prepayment of the Loans, in which case such notice may be revoked by Borrower (by notice to the Administrative Agent on or prior to the specified effective date) Business Dayif such condition is not satisfied) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iii) unless, substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 1 contract

Samples: Credit Agreement (GTT Communications, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect Lender, provided that, such notice of reduction may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the Borrower (by notice to each applicable Class, the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied; (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iii) unless), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 1,000,000 (or, if greater, in integral multiples of $250,000500,000).

Appears in 1 contract

Samples: Credit Agreement (American Pacific Corp)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce reduce, pro rata, the Revolving Commitment and LC Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower Borrowers would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(b)(ii) or (iii) unless), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 1,000,000 (or, if greater, in integral multiples of $250,000500,000); provided further that a notice of partial reduction of the Total Revolving Commitment may state that such notice is conditioned on the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrowers (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Appears in 1 contract

Samples: Credit Agreement (Nn Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one writing) (1unless such notice expressly conditions such reduction upon consummation of a transaction which is contemplated to result in prepayment of the Loans, in which case such notice may be revoked by Borrower (by notice to the Administrative Agent on or prior to the specified effective date) Business Dayif such condition is not satisfied) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iii) unless), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 1 contract

Samples: Credit Agreement (GTT Communications, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two three (23) Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one writing) (1unless such notice expressly conditions such reduction upon consummation of a transaction which is contemplated to result in prepayment of the Loans, in which case such notice may be revoked by the U.S. Borrower (by notice to the Administrative Agent on or prior to the specified effective date) Business Dayif such condition is not satisfied) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the 108 Lenders), the U.S. Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the U.S. Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iii) unless), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (iv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 1 contract

Samples: Credit Agreement (GTT Communications, Inc.)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) such reduction shall apply to permanently reduce the Swing Line Commitment but only to the extent that the Unused Total Revolving Commitment would be reduced below the Swing Line Commitment, (iv) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.13(c)(ii) or (iii) unlessSection 2.13(c)(iii), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (ivv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 (or, if greater, 10,000,000 and in integral multiples of $250,000)1,000,000.

Appears in 1 contract

Samples: Credit Agreement (TopBuild Corp)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) such reduction shall apply to permanently reduce the Swing Line Commitment but only to the extent that the Unused Total Revolving Commitment would be reduced below the Swing Line Commitment, (iv) no such reduction shall be permitted if the Borrower would be required to 61 make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii‎Section 2.13(c)(ii) or (iii) unless‎Section 2.13(c)(iii), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (ivv) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 (or, if greater, 10,000,000 and in integral multiples of $250,000)1,000,000.

Appears in 1 contract

Samples: Credit Agreement (TopBuild Corp)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) three Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice the Administrative Agent’s Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any partial reduction shall be in the amount of at least $5,000,000 (or, if greater, in integral multiples of $1,000,000), (ii) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable Class, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment Amount, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limitsLender, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans or Cash Collateralize Letters of Credit pursuant to Section 2.15(c)(ii) or (iii) unless, substantially concurrently with such reduction the Borrower makes such mandatory prepayment 5.1 and (iv) if, after giving effect to any partial reduction pursuant to this Section 2.14 shall be in of the Total Revolving Commitment, Letter of Credit Commitment Amount or the Swing Line Sublimit exceeds the amount of at least $500,000 (orthe Total Revolving Commitments, if greaterthe Letter of Credit Commitment Amount and/or the Swing Line Sublimit, in integral multiples as the case may be, shall be automatically reduced by the amount of $250,000)such excess.

Appears in 1 contract

Samples: Pledge and Security Agreement (American Dental Partners Inc)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) ten Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Day) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment AmountAmount and the Swingline Commitment, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii‎Section 2.12(b)(i) or (iii) unless‎Section 2.12(b)(i), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (ivand, ‎Section 2.12(b)(iii) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 1 contract

Samples: Credit Agreement (TRC Companies Inc /De/)

Partial Reduction of Total Revolving Commitment. Upon at least two (2) ten Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior irrevocable written notice (or telephonic notice confirmed in writing within one (1) Business Day) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the closing of any other event which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to partially and permanently reduce the Unused Total Revolving Commitment of any ClassCommitment; provided, however, that (i) any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage within each applicable ClassPercentage) and permanently reduce the Revolving Commitment of each Lender with respect to each applicable ClassLender, (ii) such reduction shall apply to proportionately and permanently reduce the LC Commitment AmountAmount and the Swingline Commitment, but only to the extent that the Unused Total Revolving Commitment would be reduced below any such limits, (iii) no such reduction shall be permitted if the Borrower would be required to make a mandatory prepayment of Loans pursuant to Section 2.15(c)(ii2.12(b)(i) or (iii) unlessSection 2.12(b)(i), substantially concurrently with such reduction the Borrower makes such mandatory prepayment and (ivand, Section 2.12(b)(iii) any partial reduction pursuant to this Section 2.14 shall be in the amount of at least $500,000 5,000,000 (or, if greater, in integral multiples of $250,0001,000,000).

Appears in 1 contract

Samples: Assignment Agreement (TRC Companies Inc /De/)

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