Common use of Reduction or Termination of Commitments Clause in Contracts

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment or permanently reduce the Revolver Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) Revolver Principal Debt and (ii) L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, may not be increased. Any reduction of the Revolver Commitment shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments shall be paid on the effective date of such termination.

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments Commitments, or (prior to funding the Term LoanInitial Funding Date) permanently reduce the Term Loan Commitment Commitment, or permanently reduce the Revolver Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) Revolver Principal Debt and (ii) L/C ObligationsDebt; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three five Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 5,000,000 or any whole multiple of $1,000,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, Commitments may not be increased. Any reduction of the Revolver Commitment shall be applied to the Revolver Commitment of each Revolver Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Term Loan Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments shall be paid on the effective date of such termination.

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments Commitments, or (prior from time to funding the Term Loan) time permanently reduce the Term Loan Commitment or permanently reduce the Revolver Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) Revolver Principal Debt and (ii) L/C ObligationsAggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three five Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent shall will promptly notify the Lenders of any such notice of termination or reduction or terminationof the Aggregate Commitments. Once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, Aggregate Commitments may not be increased. Any reduction of the Revolver Commitment Aggregate Commitments shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to until the effective date of any termination of the Aggregate Revolver Commitments shall be paid on the effective date of such termination.

Reduction or Termination of Commitments. (a) The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment or permanently reduce the Revolver Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) Revolver Principal Debt and (ii) L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three five Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 3,000,000 or any whole multiple of $1,000,000 500,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, may not be increased. Any reduction of the Revolver Commitment shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments shall at Administrative Agent’s option either be paid on the effective date of such terminationtermination or on the date when such commitment fee would otherwise be due.

Reduction or Termination of Commitments. The Parent Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment Commitments, or permanently reduce the Revolver Commitment Aggregate Commitments to an amount not less than the sum of the then Outstanding Amount of the then existing (i) Revolver Principal Debt all Loans and (ii) L/C Obligations, without penalty or premium; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, and (iii) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit or the Subsidiary Sublimit exceeds the amount of the Aggregate Commitments, such sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or terminationtermination of the Aggregate Commitments. Once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, Aggregate Commitments may not be increased. Any reduction of the Revolver Commitment Aggregate Commitments shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments shall be paid on the effective date of such termination.

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment or permanently reduce the Revolver Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (ia) Revolver Principal Debt and Debt, (iib) L/C Obligations, and (c) Swing Line Loans; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m.a.m. New York, three New York time, five Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 500,000 or any whole multiple of $1,000,000 500,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once Except as set forth in Section 2.16, once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, may not be increased. Any reduction of the Revolver Commitment shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Revolver Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments Commitment shall be paid on the effective date of such termination.

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment or permanently reduce the Revolver Commitment Aggregate Committed Sum to an amount not less than the sum of the Outstanding Amount of the then then-existing (iSection 2.4(x) Revolver Principal Debt and (iiSection 2.4(y) L/C Obligations; provided provided, that (ixi) any such notice shall be received by the Administrative Agent not later than 11:00 a.m.a.m. New York, three New York time, five (5) Business Days prior to the date of such termination or reduction, and (iiyii) any such partial reduction shall be in an aggregate amount of $10,000,000 500,000 or any whole multiple of $1,000,000 500,000 in excess thereof. Any such notice may be revocable and condition such termination or reduction of the Aggregate Committed Sum on the closing of a refinancing or transaction permitted hereunder, the proceeds of which shall be used to prepay the Committed Loans. The Administrative Agent shall promptly notify the Lenders of any such notice of such reduction or termination. Once Except as set forth in Section 2.14, once reduced in accordance with this SectionSection 2.04, the Revolver Commitment or Term Loan Commitment, as the case may be, Aggregate Committed Sum may not be increased. Any reduction of the Revolver Commitment Aggregate Committed Sum shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment Committed Sum so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments Committed Sum shall be paid on the effective date of such termination.. Section 2.05

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, : (i) terminate the Aggregate Commitments or (Revolving Commitment prior to funding the Term Loan) permanently reduce the Term Loan Commitment or permanently reduce the Revolver Commitment Maturity Date to an amount not less than the sum of the Outstanding Amount of the then existing (ia) Revolver Principal Debt and (iib) L/C Obligations; provided that (ii) terminate the Term Loan Commitment prior to the date of disbursement of the Term Loan; and (iii) terminate the Acquisition Facility Commitment prior to the Acquisition Facility Drawdown Termination Date to an amount not less than the Outstanding Amount of the then existing Acquisition Loa Principal Debt; PROVIDED THAT (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three five Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 1,000,000 or any whole multiple of $1,000,000 500,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, so reduced may not be increased. Any reduction of the Revolver any Commitment shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan corresponding Commitment of each Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments such Commitment shall be paid on the effective date of such termination.

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment Commitments, or permanently reduce the Revolver Commitment Aggregate Commitments to an amount not less than the sum of the then Outstanding Amount of the then existing (i) Revolver Principal Debt all Loans and (ii) L/C Obligations, without penalty or premium; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, and (iii) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit exceeds the amount of the Aggregate Commitments, such sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or terminationtermination of the Aggregate Commitments. Once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, Aggregate Commitments may not be increased. Any reduction of the Revolver Commitment Aggregate Commitments shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments shall be paid on the effective date of such termination.

Reduction or Termination of Commitments. The Borrower maymay at any time, upon 5 Business Days’ prior notice to the Administrative AgentAgent (who shall promptly notify each Lender thereof), terminate permanently terminate, or from time to time permanently ratably reduce, the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment or permanently reduce the Revolver Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) Revolver Principal Debt and (ii) L/C ObligationsTotal Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three Business Days prior to the date of termination or reduction, and (ii) any such each partial reduction of the Total Commitments shall be in an aggregate amount of that is $10,000,000 1,000,000 or any whole multiple of $1,000,000 500,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, may not be increased. Any Each partial reduction of the Revolver Commitment Total Commitments shall be applied ratably to the Revolver Commitment of each Lender according to its Pro Rata Share, and any Lender. In the case of a reduction of the Term Loan Commitment shall be applied to Total Commitments, the Term Loan Commitment of each Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments shall be paid Borrower shall, on the effective date of such reduction, prepay in accordance with Section 2.05 so much of the aggregate outstanding principal amount of the Loans as exceeds the amount of the Total Commitments as so reduced together with all interest accrued thereon. In the case of the termination of the Total Commitments, Borrower shall, on the effective date of any such termination, prepay the principal amount of all outstanding Loans, all accrued and unpaid interest thereon and all fees, expenses and any other amounts due hereunder or under any other Credit Document. Once such termination or reduction has occurred, the Total Commitments and each Lender’s Commitment, or the amount of such reduction, may not be reinstated.

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment Commitments, or permanently reduce the Revolver Commitment Aggregate Commitments to an amount not less than the sum of the then Outstanding Amount of the then existing (i) Revolver Principal Debt and (ii) L/C Obligationsall Loans; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three five Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or terminationtermination of the Aggregate Commitments. Once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, Aggregate Commitments may not be increased. Any reduction of the Revolver Commitment Aggregate Commitments shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Lender according to its Pro Rata Share. All commitment undrawn fees on the portion of the Aggregate Revolver Commitment so terminated which have and funding fees accrued to until the effective date of any termination of the Aggregate Revolver Commitments shall be paid on the effective date of such termination. Notwithstanding anything to the contrary contained herein or in any other Loan Document, upon each increase in the Other Commitment pursuant to Section 2.16 of the Other Credit Agreement, the Aggregate Commitments automatically, without further act, shall permanently be reduced by the amount of each such increase, and shall not thereafter be reinstated.

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, Agent terminate the Aggregate Commitments or (Revolving Commitment prior to funding the Term Loan) permanently reduce the Term Loan Commitment or permanently reduce the Revolver Commitment Maturity Date to an amount not less than the sum of the Outstanding Amount of the then existing (ia) Revolver Principal Debt and (iib) L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three five Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 1,000,000 or any whole multiple of $1,000,000 500,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Revolver Revolving Commitment or Term Loan Commitment, as the case may be, may not be increased. Any reduction of the Revolver Revolving Commitment shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan corresponding Revolving Commitment of each Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Revolving Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments Revolving Commitment shall be paid on the effective date of such termination.. Axxxx-Xxxxxxxx Energy Amended & Restated Credit Agreement

Reduction or Termination of Commitments. The Borrower Company may, upon notice to the Administrative Agent, terminate the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment Revolving Credit Commitments, or permanently reduce the Revolver Commitment Aggregate Revolving Credit Commitments to an amount not less than the sum then Dollar Equivalent Amount of the aggregate Outstanding Amount of the then existing (i) Revolver Principal Debt all Revolving Loans, Swing Line Loans and (ii) L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m., three New York time, five Business Days prior to the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of the Dollar Equivalent Amount of $10,000,000 or any whole multiple of the Dollar Equivalent Amount of $1,000,000 in excess thereof. The Administrative Agent shall promptly notify the Revolving Lenders of any such notice of reduction or terminationtermination of the Aggregate Revolving Credit Commitments. Once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, Aggregate Revolving Credit Commitments may not be increased. Any reduction of the Revolver Commitment Aggregate Revolving Credit Commitments shall be applied to the Revolver Revolving Credit Commitment of each Revolving Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Lender according to its Pro Rata Revolving Share. All commitment facility fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to until the effective date of any termination of the Aggregate Revolver Revolving Credit Commitments shall be paid on the effective date of such termination.

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment or permanently reduce the Revolver Aggregate Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) Revolver Principal Debt unpaid principal balance of the Revolving Loans and (ii) L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m.noon, three Business Days prior to (or if all the outstanding Borrowings are Base Rate Loans, no later than noon on) the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 3,000,000 or any whole multiple of $1,000,000 500,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Revolver Aggregate Commitment or Term Loan Commitment, as the case may be, may not be increased. Any reduction of the Revolver Aggregate Commitment shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Lender according to its Pro Rata Share. All Except in connection with a termination or reduction of the entire Aggregate Commitment, all commitment fees on the portion of the Aggregate Revolver Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments Commitment shall at Administrative Agent’s option either be paid on the effective date of such terminationtermination or on the date when such commitment fee would otherwise be due.

Reduction or Termination of Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments or (prior to funding the Term Loan) permanently reduce the Term Loan Commitment or permanently reduce the Revolver Commitment Aggregate Committed Sum to an amount not less than the sum of the Outstanding Amount of the then then-existing (ia) Revolver Principal Debt and (iib) L/C Obligations; provided provided, that (ix) any such notice shall be received by the Administrative Agent not later than 11:00 a.m.a.m. New York, three New York time, five (5) Business Days prior to the date of termination or reduction, and (iiy) any such partial reduction shall be in an aggregate amount of $10,000,000 500,000 or any whole multiple of $1,000,000 500,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once Except as set forth in Section 2.14, once reduced in accordance with this Section, the Revolver Commitment or Term Loan Commitment, as the case may be, Aggregate Committed Sum may not be increased. Any reduction of the Revolver Commitment Aggregate Committed Sum shall be applied to the Revolver Commitment of each Lender according to its Pro Rata Share, and any reduction of the Term Loan Commitment shall be applied to the Term Loan Commitment of each Lender according to its Pro Rata Share. All commitment fees on the portion of the Aggregate Revolver Commitment Committed Sum so terminated which have accrued to the effective date of any termination of the Aggregate Revolver Commitments Committed Sum shall be paid on the effective date of such termination.