Reduction of Total Commitment. (a) The Borrowers shall have the right at any time and from time to time upon three (3) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 or integral multiples of $1,000,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. The Administrative Agent will notify the Banks promptly after receiving any notice of the Borrowers delivered pursuant to this §2.2.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Waste Industries Usa Inc), Revolving Credit Agreement (Waste Industries Usa Inc), Revolving Credit Agreement (Waste Industries Usa Inc)
Reduction of Total Commitment. (a) The Borrowers shall have the right at any time and from time to time upon three two (32) Business Days Days' prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiples of $1,000,000 in excess multiple thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. The Administrative Agent will notify the Banks promptly after receiving any notice of the Borrowers delivered pursuant to this §2.2ss.2.2.
Appears in 2 contracts
Samples: Revolving Credit and Term Loan Agreement (Casella Waste Systems Inc), Revolving Credit Agreement (Superior Services Inc)
Reduction of Total Commitment. (a) The Borrowers shall have the right at any time and from time to time upon three two (32) Business Days Days' prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or an integral multiples of $1,000,000 in excess multiple thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. The Administrative Agent will notify the Banks promptly after receiving any notice of the Borrowers delivered pursuant to this §2.2.
Appears in 1 contract
Samples: Revolving Credit Agreement (Casella Waste Systems Inc)
Reduction of Total Commitment. (a) The Borrowers shall have the right at any time and from time to time upon three five (35) Business Days Days' prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or integral multiples of $1,000,000 500,000 in excess thereof thereof, or terminate entirely entirely, the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. The Administrative Agent will notify the Banks promptly after receiving any notice of the Borrowers delivered pursuant to this §2.22.2.1.
Appears in 1 contract
Samples: Revolving Credit Agreement (Waste Connections Inc/De)
Reduction of Total Commitment. (a) The Borrowers shall have the right at any time and from time to time upon three five (35) Business Days prior written notice to the Administrative Agent to reduce by $5,000,000 1,000,000 or integral multiples of $1,000,000 500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata PRO RATA in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. The Administrative Agent will notify the Banks promptly after receiving any notice of the Borrowers delivered pursuant to this §2.2ss.2.2.
Appears in 1 contract
