Common use of Reduction or Termination of Commitments Clause in Contracts

Reduction or Termination of Commitments. During the Revolving Credit Period, the Borrower may, upon at least three Domestic Business Days' notice to the Agent, (i) terminate the Commitments at any time, if no Loans are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the Loans.

Appears in 3 contracts

Samples: Credit Agreement (Martin Marietta Materials Inc), Revolving Credit Agreement (Martin Marietta Materials Inc), Revolving Credit Agreement (Martin Marietta Materials Inc)

AutoNDA by SimpleDocs

Reduction or Termination of Commitments. During the Revolving Credit Period, the Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans are outstanding the Total Outstanding Amount is equal to zero at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the LoansTotal Outstanding Amount at such time.

Appears in 3 contracts

Samples: Credit Agreement (Martin Marietta Materials Inc), Credit Agreement (Martin Marietta Materials Inc), Credit Agreement (Martin Marietta Materials Inc)

Reduction or Termination of Commitments. During the Revolving Credit Period, the Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans are outstanding at such time or (ii) ratably 24 reduce from time to time by an aggregate amount of $5,000,000 or a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the LoansTotal Outstanding Amount.

Appears in 1 contract

Samples: Credit Agreement (Martin Marietta Materials Inc)

Reduction or Termination of Commitments. During the Revolving Credit Period, the (i) The Borrower may, may upon at least three Domestic Business Days' prior written notice to the Agent, Agent (i) terminate the Revolving Credit Commitments at any time, time if no Loans or LOC Obligations are outstanding at such time or time, and (ii) ratably and permanently reduce from time to time time, by an aggregate amount of not less than $5,000,000 or a larger multiple 3,000,000 and additional increments of $1,000,000, the aggregate amount unused portion of the Commitments in excess of the aggregate outstanding principal amount of the LoansRevolving Credit Commitments.

Appears in 1 contract

Samples: Credit Agreement (Watson Wyatt & Co Holdings)

Reduction or Termination of Commitments. During the Revolving Credit Period, the Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans are outstanding the Total Outstanding Amount is equal to zero at such time or (ii) ratably reduce from time to time by an aggregate amount of 36 $5,000,000 or a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the LoansTotal Outstanding Amount at such time.

Appears in 1 contract

Samples: Credit Agreement (Martin Marietta Materials Inc)

AutoNDA by SimpleDocs

Reduction or Termination of Commitments. During the Revolving Credit Period, the Borrower may, upon at least three Domestic Business Days' notice to the Agent, (i) terminate the Commitments at any time, if no Loans are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the Loans.if

Appears in 1 contract

Samples: Credit Agreement (Martin Marietta Materials Inc)

Reduction or Termination of Commitments. During the Revolving Credit Period, the Borrower may, upon at least three Domestic Business Days' notice to the Agent, (i) terminate the Commitments at any time, if no Loans are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the Loans.by

Appears in 1 contract

Samples: Revolving Credit Agreement (Martin Marietta Materials Inc)

Reduction or Termination of Commitments. During the Revolving Credit Period, the Borrower may, upon at least three Domestic Business Days' notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $5,000,000 or a larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the LoansTotal Outstanding Amount.

Appears in 1 contract

Samples: Credit Agreement (Martin Marietta Materials Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.