Reduction or Cancellation Sample Clauses

Reduction or Cancellation. The Borrower may at any time after the date hereof cancel the Aggregate Commitment in whole, or reduce the Aggregate Commitment, in a minimum amount of $5,000,000 (and in integral multiples of $1,000,000) ratably among the Lenders upon at least three (3) Business Days' prior written notice to the Administrative Agent, which notice shall specify the amount of such reduction; provided, however, no such notice of cancellation shall be effective to the extent that it would reduce the Aggregate Commitment to an amount which would be less than the aggregate outstanding principal amount of the Advances (including Swing Loans). Any notice of cancellation given pursuant to this Section 2.6 shall be irrevocable and permanent and shall specify the date upon which such cancellation is to take effect. The Administrative Agent shall promptly notify each Lender of its receipt of notice from the Borrower electing to cancel all or reduce a portion of the Aggregate Commitment. Each reduction of the Aggregate Commitment shall cancel each Lender's Commitment ratably in proportion to the ratio that such Lender's Commitment bears to the Aggregate Commitment.
Sample 1
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Reduction or Cancellation. Borrower may, upon five Business Days prior notice to Agent, effective as of the date specified in that notice and with no Right of reinstatement, either terminate in whole or reduce in part the total Commitments. Any partial reduction must be (a) at least $500,000 and any increment of $100,000 and (b) proportionate for each Lender according to its Commitment Percentage.
Sample 1
Reduction or Cancellation. The Borrower may at any time after the date hereof cancel either the Facility A Aggregate Commitment or (prior to the Conversion Date) the Facility B Aggregate Commitment, in whole, or reduce either of them with a corresponding reduction in the Aggregate Commitment, in a minimum amount of $10,000,000 (and in integral multiples of $5,000,000) ratably among the Lenders upon at least five (5) Business Days' prior written notice to the Administrative Agent, which notice shall specify the amount of such reduction and whether and to what extent such reduction shall apply to the Facility A Aggregate Commitment or the Facility B Aggregate Commitment, or either of them; provided, however, no such notice of cancellation shall be effective to the extent that it would (i) reduce the Facility A Aggregate Commitment to an amount which would be less than the sum of the outstanding principal amount of the Facility A Advances plus the Facility A Competitive Bid Advances or (ii) reduce the Facility B Aggregate Commitment to an amount which would be less than the sum of the outstanding principal amount of the Facility B Advances plus the Facility B Competitive Bid Advances. Any notice of cancellation given pursuant to this Section 2.6 shall be irrevocable and permanent and shall specify the date upon which such cancellation is to take effect. The Administrative Agent shall promptly notify each Lender of its receipt of notice from the Borrower electing to cancel all or reduce a portion of the Aggregate Commitment. Each reduction of the Facility A Aggregate Commitment or the Facility B Aggregate Commitment shall cancel each Lender's Commitment ratably in proportion to the ratio that such Lender's Commitment bears to the Aggregate Commitment.
Sample 1

Related to Reduction or Cancellation

  • Notice of Cancellation or Change There shall be no cancellation, change, potential exhaustion of aggregate limits or non-renewal of insurance coverage(s) without thirty (30) days written prior written notice to the State.

  • Change or Cancellation DXC may, without charge, change or cancel any portion of this Order including, without limitation, quantity required, DXC designs or specifications prior to shipment provided DXC gives Supplier notice. If DXC changes or cancels any portion of this Order as provided above, Supplier shall provide DXC with a written claim for adjustment prior to shipment which contemplates Supplier’s actual costs incurred as a direct result of such change or cancellation which are not recoverable by either: (i) the sale of Products or provision of Services to other parties within a reasonable time or (ii) the exercise by Supplier, in a commercially reasonable manner, of other mitigation measures. If the parties are unable to agree on the adjustment amount, DXC may, without any liability to Supplier, terminate this Order as to all Products and/or Services affected.

  • No Rescission or Cancellation The Servicer shall not permit any rescission or cancellation of any Receivable except in accordance with the Credit Card Guidelines or as ordered by a court of competent jurisdiction or other Governmental Authority.

  • NOTICE OF CHANGE OR CANCELLATION There shall be no cancellation, material change, exhaustion of aggregate limits, or intent not to renew insurance coverage, either in whole or in part, without at least sixty (60) days prior written Legal Notice by Contractor to Enterprise Services. Failure to provide such notice, as required, shall constitute default by Contractor. Any such written notice shall include the Master Contract number stated on the cover of this Master Contract.

  • Voluntary cancellation The Company may, if it gives the Agent not less than three Business Days' prior written notice (or such shorter period as the Majority Lenders may agree), cancel the whole or any part (being a minimum amount of EUR 5,000,000) of the Available Facility. Any cancellation under this Clause 9.3 shall reduce the Commitments of the Lenders rateably under the Facility.

  • No Cancellation No Required Insurance policy may be canceled by either Party during the required insured period under this Agreement, except after thirty days’ prior written notice to the City by certified mail, return receipt requested. Prior to the effective date of any such cancellation Consultant must procure and put into effect equivalent coverage(s).

  • Contract Cancellation By written notice and without a cure period, Buyer may cancel the whole Contract, or any part of this Contract, in the event of the suspension of Seller’s business, insolvency of Seller, institution of bankruptcy, liquidation proceedings by or against Seller, appointment of a trustee or receiver for Seller’s property or business, any assignment, reorganization, or arrangement by Seller for the benefit of creditors, or the debarment or suspension of Seller by any Government agency. Xxxxx’s remedies in the event of a cancellation of the Contract pursuant to this ¶ 18 shall be the same as set forth in ¶ 19, TERMINATION FOR DEFAULT.

  • Cancellation or reduction for convenience 20.1 The Commonwealth may cancel or reduce the scope of this Agreement by notice, due to:

  • Prepayment and Cancellation 8.1 Mandatory prepayment - illegality

  • Funding Cancellation As required by Financial Management Circular 2007-1 and IC § 5-22-17-5, when the Director of the State Budget Agency makes a written determination that funds are not appropriated or otherwise available to support continuation of performance of this Contract, this Contract shall be canceled. A determination by the Director of State Budget Agency that funds are not appropriated or otherwise available to support continuation of performance shall be final and conclusive.

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