Reduction of Revolving Credit Facility Sample Clauses

Reduction of Revolving Credit Facility. (i) The Borrowers shall have the right, at any time and from time to time, upon at least 30 days' prior irrevocable, written notice to the Administrative Agent, to terminate or reduce permanently all or a portion of the Revolving Credit Facility, without premium or penalty; PROVIDED, HOWEVER, that any such partial reduction of such facility shall be not less than $200,000 and shall not reduce the Revolving Credit Facility below the amount of the aggregate Letter of Credit Obligations. As of the date of termination or reduction set forth in such notice, the Revolving Credit Facility shall be permanently reduced to the amount stated in the Borrowers' notice for all purposes herein, and the Borrowers shall pay the amount necessary to reduce the amount of the outstanding 62 71 Revolving Credit Loans to an amount not greater than the Revolving Credit Facility as so reduced, together with accrued interest on the amounts so prepaid.
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Reduction of Revolving Credit Facility. The Borrower shall have the right, upon at least one (1) Business Day's notice to the Bank, to terminate in whole or reduce in part the unused portion of the Revolving Credit Facility, provided that each partial reduction shall be in the amount of not less than Five Hundred Thousand Dollars ($500,000).
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Reduction of Revolving Credit Facility. The aggregate amount of the Revolving Credit Commitments of the Lenders has been reduced from $50,000,000 to $33,000,000, effective as of June 23, 2008.
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Reduction of Revolving Credit Facility. (i) The Borrower shall have the right, at any time and from time to time, upon at least three Business Days' prior irrevocable written notice to Agent, to terminate or reduce permanently all or a portion of the unused Revolving Credit Facility; PROVIDED, HOWEVER, that any such partial reduction shall be made in increments of $500,000 or an integral multiple thereof and shall not reduce the Revolving Credit Facility below the amount of the aggregate Letter of Credit Obligations. As of the date of termination or reduction set forth in such notice and upon payment of any fee payable pursuant to SECTION 5.11, the Revolving Credit Facility shall be permanently reduced to the amount stated in the Borrower's notice for all purposes herein (and each Lender's Commitment shall also be reduced by such Lender's Commitment Percentage of the amount of such reduction).
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Reduction of Revolving Credit Facility. (i) The Borrower shall have the right, at any time and from time to time, upon at least three Business Days' prior irrevocable, written notice to Agent, to terminate or reduce permanently all or a portion of the unused Revolving Credit Facility; provided, however, that any such partial reduction shall be made in increments of $1,000,000 or an integral multiple thereof and shall not reduce the Revolving Credit Facility below the amount of the aggregate Letter of Credit Obligations. As of the date of termination or reduction set forth in such notice, the Revolving Credit Facility shall be permanently reduced to the amount stated in the Borrower's notice for all purposes herein (and each Lender's Commitment shall also be reduced by such Lender's Commitment Percentage of the amount of such reduction).
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Reduction of Revolving Credit Facility. Subject to Clause 7.1, the Revolving Credit Facility Commitments shall be reduced on the following dates (the "REDUCTION DATES") by the amount set
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Reduction of Revolving Credit Facility. The Borrower shall have the right, at any time and from time to time, upon at least three Business Days' prior irrevocable, written notice to the Agent, to reduce permanently all or a portion of the Revolving Facility Amount; provided, however, that any such reduction shall be made in an amount not less than $2,000,000 or increments of $1,000,000 in excess thereof and shall not reduce the Revolving Credit Facility below the sum of the amount of the aggregate Stated Amount of all Letters of Credit outstanding at such time. As of the date of reduction set forth in such notice, the Revolving Facility Amount and the Total Facility shall be permanently reduced to the amount stated in the Borrower's notice for all purposes herein, and the Borrower shall pay the amount necessary to reduce the amount of the Revolving Credit Loans outstanding under the Revolving Credit Facility to the Revolving Facility Amount as so reduced, together with accrued interest on the amounts so prepaid. In the event of such reduction, each Lender's Revolving Facility Percentage Amount shall be reduced in an amount equal to such Lender's Revolving Facility Percentage of the amount of such reduction."
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Reduction of Revolving Credit Facility. The Borrower shall have the right, at any time and from time to time, upon at least three Business Days' prior irrevocable written notice to Agent, to terminate or reduce permanently all or a portion of the unused Revolving Credit Facility; PROVIDED, HOWEVER, that any such partial reduction shall be made in increments of $500,000 or an integral multiple thereof and shall not reduce the Revolving Credit Facility below the amount of the aggregate Letter of Credit Obligations. As of the date of termination or reduction set forth in such notice and upon payment of any fee payable pursuant to SECTION 4.11, the Revolving Credit Facility shall be permanently reduced to the amount stated in the Borrower's notice for all purposes herein (and each Lender's Commitment shall also be reduced by such Lender's Commitment Percentage of the amount of such reduction). The amount of the Revolving Credit Facility shall be automatically reduced to zero on the Termination Date. The Revolving Credit Facility or any portion thereof terminated or reduced pursuant to this SECTION 4.10 may not be reinstated.
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Reduction of Revolving Credit Facility 
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Related to Reduction of Revolving Credit Facility

  • Termination of Revolving Credit Facility The Revolving Credit Facility and the Revolving Credit Commitments shall terminate on the Revolving Credit Maturity Date.

  • Reduction of Revolving Credit Commitment The Borrower shall have the right at any time after the Closing Date upon five (5) days’ prior written notice to the Administrative Agent to permanently reduce (ratably among the Lenders in proportion to their Ratable Shares) the Revolving Credit Commitments, in a minimum amount of $5,000,000 and whole multiples of $1,000,000, or to terminate completely the Revolving Credit Commitments, without penalty or premium except as hereinafter set forth; provided that any such reduction or termination shall be accompanied by prepayment of the Notes, together with outstanding Commitment Fees, and the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 5.10 [Indemnity] hereof) to the extent necessary to cause the aggregate Revolving Facility Usage after giving effect to such prepayments to be equal to or less than the Revolving Credit Commitments as so reduced or terminated. Any notice to reduce the Revolving Credit Commitments under this Section 2.11 shall be irrevocable.

  • The Revolving Credit Facility On the terms and conditions set forth in the MLA and this Supplement, CoBank agrees to make loans to the Company during the period set forth below in an aggregate principal amount not to exceed, at any one time outstanding, the lesser of $25,000,000.00 (the “Commitment”), or the “Borrowing Base” (as calculated pursuant to the Borrowing Base Report attached hereto as Exhibit A). Within the limits of the Commitment, the Company may borrow, repay and reborrow.

  • Repayment of Revolving Credit Loans The Borrower shall repay the Revolving Credit Loans together with all outstanding interest thereon on the Expiration Date.

  • Revolving Credit Facility (i) Subject to the terms and conditions hereof, each Lender severally agrees to make available to Borrowers from time to time until the Commitment Termination Date its Pro Rata Share of advances (each, a “Revolving Credit Advance”). The Pro Rata Share of the Loans of any Lender shall not at any time exceed its separate Commitment. The obligations of each Lender hereunder shall be several and not joint. Until the Commitment Termination Date, Borrowers may borrow, repay and reborrow under this Section 2.1(a); provided, that (x) the amount of any Revolving Credit Advances to be made at any time shall not exceed Availability at such time, (y) the amount of any Revolving Credit Advances to be made to the U.S. Borrowers at any time shall not exceed the U.S. Availability at such time and (z) the amount of any Revolving Credit Advances to be made to the Canadian Borrowers at any time shall not exceed the Canadian Availability at such time. Each Revolving Credit Advance shall be made on notice by Borrower Representative to one of the representatives of Agent identified in Schedule (2.1) at the address specified therein. Any such notice must be given no later than (1) 12 noon (New York, New York time) on the date of the proposed Revolving Credit Advance, in the case of a Base Rate Loan, or (2) 12 noon (New York, New York time) on the date which is three (3) Business Days’ prior to the proposed Revolving Credit Advance, in the case of a LIBOR Loan. Each such notice (a “Notice of Revolving Credit Advance”) may be given verbally by telephone but must be immediately confirmed in writing (by fax, electronic mail or overnight courier) substantially in the form of Exhibit 2.1(a)(i), and shall include the information required in such Exhibit. If any Borrower desires to have the Revolving Credit Advances bear interest by reference to a LIBOR Rate, with respect to LIBOR Loans denominated in Dollars, and BA Rate, with respect to LIBOR Loans denominated in Canadian Dollars, Borrower Representative must comply with Section 2.5(e). All Revolving Credit Advances (x) made to a U.S. Borrower shall be denominated in Dollars and (y) made to a Canadian Borrower shall be denominated in Dollars or Canadian Dollars but shall be deemed to have been made (in the case of Canadian Dollar Revolving Credit Advances) in the Dollar Equivalent of such Revolving Credit Advance.

  • Termination or Reduction of Revolving Credit Commitments The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent (which shall promptly notify each Lender thereof), to terminate the Revolving Credit Commitments or, from time to time, to reduce the amount of the Revolving Credit Commitments; provided that no such termination or reduction of Revolving Credit Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Credit Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Credit Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Credit Commitments then in effect.

  • Extension of Revolving Credit Commitments The Borrower may at any time and from time to time request that all or a portion of the Revolving Credit Commitments of a given Class (each, an “Existing Revolver Tranche”) be amended to extend the Maturity Date with respect to all or a portion of any principal amount of such Revolving Credit Commitments (any such Revolving Credit Commitments which have been so amended, “Extended Revolving Credit Commitments”) and to provide for other terms consistent with this Section 2.16. In order to establish any Extended Revolving Credit Commitments, the Borrower shall provide a notice to the Administrative Agent (who shall provide a copy of such notice to each of the Lenders under the applicable Existing Revolver Tranche) (each, a “Revolver Extension Request”) setting forth the proposed terms of the Extended Revolving Credit Commitments to be established, which shall (x) be identical as offered to each Lender under such Existing Revolver Tranche (including as to the proposed interest rates and fees payable) and offered pro rata to each Lender under such Existing Revolver Tranche and (y) be identical to the Revolving Credit Commitments under the Existing Revolver Tranche from which such Extended Revolving Credit Commitments are to be amended, except that: (i) the Maturity Date of the Extended Revolving Credit Commitments may be delayed to a later date than the Maturity Date of the Revolving Credit Commitments of such Existing Revolver Tranche, to the extent provided in the applicable Extension Amendment; (ii) the Effective Yield with respect to extensions of credit under the Extended Revolving Credit Commitments (whether in the form of interest rate margin, upfront fees, commitment fees, original issue discount or otherwise) may be different than the Effective Yield for extensions of credit under the Revolving Credit Commitments of such Existing Revolver Tranche, in each case, to the extent provided in the applicable Extension Amendment; (iii) the Extension Amendment may provide for other covenants and terms that apply solely to any period after the Latest Maturity Date that is in effect on the effective date of the Extension Amendment (immediately prior to the establishment of such Extended Revolving Credit Commitments); and (iv) all borrowings under the applicable Revolving Credit Commitments (i.e., the Existing Revolver Tranche and the Extended Revolving Credit Commitments of the applicable Revolver Extension Series) and repayments thereunder shall be made on a pro rata basis (except for (I) payments of interest and fees at different rates on Extended Revolving Credit Commitments (and related outstandings) and (II) repayments required upon the Maturity Date of the non-extending Revolving Credit Commitments); provided, further, that (A) no Default shall have occurred and be continuing at the time a Revolver Extension Request is delivered to Lenders, (B) in no event shall the final maturity date of any Extended Revolving Credit Commitments of a given Revolver Extension Series at the time of establishment thereof be earlier than the then Latest Maturity Date of any other Revolving Credit Commitments hereunder, (C) any such Extended Revolving Credit Commitments (and the Liens securing the same) shall be permitted by the terms of the Intercreditor Agreements (to the extent any Intercreditor Agreement is then in effect) and (D) all documentation in respect of such Extension Amendment shall be consistent with the foregoing. Any Extended Revolving Credit Commitments amended pursuant to any Revolver Extension Request shall be designated a series (each, a “Revolver Extension Series”) of Extended Revolving Credit Commitments for all purposes of this Agreement; provided that any Extended Revolving Credit Commitments amended from an Existing Revolver Tranche may, to the extent provided in the applicable Extension Amendment, be designated as an increase in any previously established Revolver Extension Series with respect to such Existing Revolver Tranche. Each Revolver Extension Series of Extended Revolving Credit Commitments incurred under this Section 2.16 shall be in an aggregate principal amount that is not less than $5,000,000.

  • Repayment of Revolving Credit Advances The Borrower shall repay to the Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Revolving Credit Advances then outstanding.

  • Increase in Revolving Credit Facility The references to “$20,000,000” in Section 2.1 of the Credit Agreement and in Section 2.2(a) of the Credit Agreement are deleted and are replaced by “$60,000,000”.

  • Revolving Credit Facility Fee From the Effective Date to the Revolving Credit Maturity Date, the Borrowers shall pay, jointly and severally, to the Agent for distribution to the Lenders pro-rata in accordance with their respective Percentages, a Revolving Credit Facility Fee quarterly in arrears commencing January 1, 2008 and on the first day of each calendar quarter thereafter (in respect of the prior three months or any portion thereof). The Revolving Credit Facility Fee payable to each Lender shall be determined by multiplying the Applicable Fee Percentage times such Lender’s Revolving Credit Percentage of the Revolving Credit Aggregate Commitment then in effect (whether used or unused). The Revolving Credit Facility Fee shall be computed on the basis of a year of three hundred sixty (360) days and assessed for the actual number of days elapsed. Whenever any payment of the Revolving Credit Facility Fee shall be due on a day which is not a Business Day, the date for payment thereof shall be extended to the next Business Day. Upon receipt of such payment, Agent shall make prompt payment to each Lender of its share of the Revolving Credit Facility Fee based upon its respective Percentage. It is expressly understood that the Revolving Credit Facility Fees described in this Section are not refundable.

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