Common use of Reduction or Termination of Commitment Clause in Contracts

Reduction or Termination of Commitment. The Borrower shall have the right to irrevocably terminate or reduce in part the unused portion of the Commitment at any time and from time to time, provided that: (a) the Borrower shall give notice of each such termination or reduction s provided in Section 2.09; and (b) each partial reduction shall be in an aggregate amount at least equal to $1,000,000.

Appears in 1 contract

Samples: Credit Agreement (Meridian Resource Corp)

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Reduction or Termination of Commitment. The Borrower shall have the right to irrevocably terminate or reduce in part the unused portion of the Commitment at any time and from time to time, provided that: (a) the Borrower shall give notice of each such termination or reduction s as provided in Section 2.092.08; and (b) each partial reduction shall be in an aggregate amount at least equal to $1,000,000.

Appears in 1 contract

Samples: Credit Agreement (Meridian Resource Corp)

Reduction or Termination of Commitment. The Borrower shall have the right to irrevocably terminate or reduce in part the unused portion of the Commitment at any time and from time to time, provided that: (a) the Borrower shall give notice of each such termination or reduction s as provided in Section 2.09; and (b) each partial reduction shall be in an aggregate amount at least equal to $1,000,000.

Appears in 1 contract

Samples: Credit Agreement (Imc Global Inc)

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Reduction or Termination of Commitment. The Borrower shall have the right to irrevocably terminate or reduce in part the unused portion of the Commitment at any time and from time to time, provided that: (a) the Borrower shall give notice of each such termination or reduction s provided in Section 2.09; and (b) each partial reduction shall be in an aggregate amount at least equal to $1,000,000.

Appears in 1 contract

Samples: Credit Agreement (Varsity Spirit Corporation)

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