Common use of Permanent Reduction of the Aggregate Commitment Clause in Contracts

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 or any whole multiple of $500,000 in excess thereof.

Appears in 2 contracts

Samples: Credit Agreement (Rare Hospitality International Inc), Credit Agreement (Rare Hospitality International Inc)

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Permanent Reduction of the Aggregate Commitment. (a) The Borrowers Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penaltypenalty except as provided herein, the Aggregate Revolving Credit Commitment in an aggregate principal amount not less than $1,000,000 5,000,000 or any whole multiple of $500,000 5,000,000 in excess thereof.

Appears in 2 contracts

Samples: Credit Agreement (Roanoke Electric Steel Corp), Credit Agreement (Roanoke Electric Steel Corp)

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 or any whole multiple of $500,000 1,000,000 in excess thereof.

Appears in 2 contracts

Samples: Credit Agreement (Cornerstone Realty Income Trust Inc), Credit Agreement (Cornerstone Realty Income Trust Inc)

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 500,000 or any whole multiple of $500,000 100,000 in excess thereof. The amount of each partial permanent reduction shall be applied pro rata to reduce the remaining mandatory reduction amounts required under Section 2.5(b).

Appears in 1 contract

Samples: Credit Agreement (Medcath Inc)

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate a minimum principal amount not less than $1,000,000 5,000,000 or any whole multiple of $500,000 1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Cca Prison Realty Trust)

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate a minimum principal amount not less than $1,000,000 2,500,000 or any whole multiple of $500,000 1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Corrections Corporation of America)

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole without premium or penalty, (i) the entire Aggregate Commitment at any time or in part (ii) portions of the Aggregate Commitment, from time to time, without premium or penalty, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 5,000,000 or any whole multiple of $500,000 1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Access Financial Solutions Inc)

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers Borrower shall have the right at any time and from time to time, upon at least five three (53) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penaltypremium, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 or any whole multiple of $500,000 1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Insignia Financial Group Inc)

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Permanent Reduction of the Aggregate Commitment. (a) The Borrowers BORROWER shall have the right at any time and from time to time, upon at least five (5) Business Days BUSINESS DAYS prior written notice to the AgentADMINISTRATIVE AGENT, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment AGGREGATE COMMITMENT in an aggregate principal amount not less than Five Million DOLLARS ($1,000,000 5,000,000.00) or any whole multiple of One Million DOLLARS ($500,000 1,000,000.00) in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Unc Inc)

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 or any whole multiple of $500,000 1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Cornerstone Realty Income Trust Inc)

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penaltypremium, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 10,000,000 or any whole multiple of $500,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Quorum Health Group Inc)

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers Borrower shall have the right at any time and from time to time, upon at least five three (53) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 10,000,000 or any whole multiple of $500,000 5,000,000 in excess thereof.

Appears in 1 contract

Samples: Day Credit Agreement (Lci International Inc /Va/)

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 2,500,000 or any whole multiple of $500,000 1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Sholodge Inc)

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