Permanent Reductions Sample Clauses

Permanent Reductions. The Borrower shall have the right, at any time from time to time, without premium or penalty, to permanently reduce the Total Facility, the Maximum Revolver Amount and the Commitments (each a "Reduction"), and the Commitment of each Lender shall be reduced by its Pro Rata Share of each Reduction, if all of the following conditions are met as to each requested Reduction:
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Permanent Reductions. All reductions of the Commitment pursuant to Section 2.1(e), 2.5(c) or any other provision of this Agreement shall be permanent reductions, and the Commitment shall not be increased.
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Permanent Reductions. Upon three (3) Business Days prior written notice delivered from the Borrower to Agent, the Borrower may permanently reduce the Maximum Total Amount; provided that such permanent principal reduction shall be in a principal amount of at least $5,000,000 and in integral amounts of $1,000,000, and provided that such permanent principal reduction shall not reduce the Maximum Total Amount below an amount equal to the sum of all outstanding Advances. In the event that a permanent reduction is made hereunder, then the Maximum Total Amount shall permanently be reduced on a pro rata basis. Any amounts so reduced may not be reinstated.
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Permanent Reductions. Optional permanent reductions of the Revolving Loan Commitment hereunder may be made by the Borrowers, at any time and from time to time, following irrevocable written notice to the Administrative Agent prior to 11:00 a.m. (New York time) on the date three (3) Business Days prior thereto, without premium or penalty, on a pro rata basis among the Lenders, provided that the Borrowers shall, jointly and severally, reimburse the Lenders and the other Credit Parties, on the earlier of demand or the Maturity Date, for any loss or out-of-pocket expense incurred by the Lenders or the other Credit Parties in connection with such reduction as set forth in Section 2.11 hereof. Each notice of reduction shall be irrevocable. Partial reductions shall be in a principal amount of not less than $500,000 or an integral multiple of $100,000 in excess thereof. Upon receipt of any notice of reduction, the Administrative Agent shall promptly notify each Lender of the contents thereof by telephone or telecopy and of such Lender's portion of the reduction.
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Permanent Reductions. The economic benefit of permanent commitment reductions and permanent repayments of principal (collectively, “Permanent Reductions”) shall be allocated as provided in Section 4, “Purchase Price Calculation,” below.
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Permanent Reductions. Upon three (3) Business Days prior written notice delivered from the Borrower to Agent, the Borrower may permanently reduce the
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Related to Permanent Reductions

  • Commitment Reductions (i) The Commitment of each Lender shall be automatically reduced to zero on the Commitment Termination Date of such Lender.

  • Commitment Reduction The Borrowers shall have the right, upon at least two Business Days’ notice to the Administrative Agent, to terminate in whole or, upon same day notice, from time to time to permanently reduce ratably in part the unused portion of the Commitments; provided that each partial reduction shall be in the aggregate amount of $5,000,000 or in an integral multiple of $1,000,000 in excess thereof; provided, further, that the Commitments may not be reduced to an amount that is less than the aggregate Stated Amount of outstanding Letters of Credit. Subject to the foregoing, any reduction of the Commitments to an amount below $200,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount). Each such notice of termination or reduction shall be irrevocable; provided, further, that, if, after giving effect to any reduction of the Commitments, any Borrower Sublimit exceeds the amount of the aggregate Commitments, such sublimit shall be automatically reduced by the amount of such excess. Without limiting subsection (b) below, any Commitment reduced or terminated pursuant to this subsection (a) may not be reinstated.

  • Application of Commitment Reductions; Payment of Fees The Administrative Agent will promptly notify the Appropriate Lenders of any termination or reduction of unused portions of the Letter of Credit Sublimit or the Swing Line Sublimit or the unused Commitments of any Class under this Section 2.06. Upon any reduction of unused Commitments of any Class, the Commitment of each Lender of such Class shall be reduced by such Lender’s Pro Rata Share of the amount by which such Commitments are reduced (other than the termination of the Commitment of any Lender as provided in Section 3.07). All commitment fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

  • Voluntary Commitment Reductions (i) Borrower may, upon not less than three Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof to Administrative Agent (which original written or telephonic notice Administrative Agent will promptly transmit by telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments in an amount up to the amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; provided that any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount.

  • Certain Reductions Notwithstanding anything herein to the contrary, the Company shall reduce Executive’s severance benefits under this Agreement, in whole or in part, by any other severance benefits, pay in lieu of notice, or other similar benefits payable to Executive by the Company in connection with Executive’s termination, including but not limited to payments or benefits pursuant to (a) any applicable legal requirement, including, without limitation, the Worker Adjustment and Retraining Notification Act, or (b) any Company agreement, arrangement, policy or practice relating to Executive’s termination of employment with the Company. The benefits provided under this Agreement are intended to satisfy, to the greatest extent possible, any and all statutory obligations that may arise out of Executive’s termination of employment. Such reductions shall be applied on a retroactive basis, with severance benefits previously paid being recharacterized as payments pursuant to the Company’s statutory obligation.

  • Mandatory Prepayments and Commitment Reductions 22 2.7 Conversion and Continuation Options............................ 23 2.8 Limitations on Eurodollar Tranches............................. 23 2.9 Interest Rates and Payment Dates............................... 23 2.10 Computation of Interest and Fees............................... 24 2.11 Inability to Determine Interest Rate........................... 24 2.12 Pro Rata Treatment and Payments................................ 25 2.13

  • Mandatory Prepayments Commitment Reductions 68 2.13 Application of Prepayments/Reductions ..............................................70 2.14 Allocation of Certain Payments and Proceeds.........................................71 2.15

  • Fee Reduction The Adviser agrees that from the commencement of operations of the Fund through January 31, 2020, it will reduce its compensation and/or reimburse certain expenses for the Fund, to the extent necessary to ensure that the Fund’s total operating expenses, excluding taxes, “Acquired Fund” fees and expenses, dividend and interest expense on securities sold short, interest, extraordinary items, and brokerage commissions, do not exceed (on an annual basis) 0.85%, as a percentage of the Fund’s average daily net assets.

  • Mandatory Repayments and Commitment Reductions (a) In addition to any other mandatory repayments pursuant to this Section 4.02 or any other Section of this Agreement, (i) the outstanding Loans (other than Deferred Loans) shall be repaid on each Repayment Date (or such other date as may be agreed between the Facility Agent and the Borrower) (without further action of the Borrower being required) as set forth under the heading “Part 1” on Schedule 4.02 hereto and (ii) the outstanding Deferred Loans shall be repaid on each Repayment Date (or such other date as may be agreed between the Facility Agent and the Borrower) (without further action of the Borrower being required) (x) in the case of the First Deferred Loans, as set forth under the heading “Part 2” on Schedule 4.02 hereto and (y) in the case of the Second Deferred Loans, as set forth under the heading “Part 3” on Schedule 4.02 hereto (each such repayment of a Loan (including a Deferred Loan), a “Scheduled Repayment”). The repayment schedule for the Loans (other than Deferred Loans) and Deferred Loans is set forth in Schedule 4.02.

  • Application of Prepayments Reductions (a) Any prepayment of any Loan pursuant to Section 2.11 shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:

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