Reduction or Termination of the Aggregate Commitment Sample Clauses
Reduction or Termination of the Aggregate Commitment. (a) The ---------------------------------------------------- Company may from time to time on at least five Business Days' prior written notice received by the U.S. Agent (which shall promptly advise each Bank thereof) permanently reduce the amount of the Aggregate Commitment to an amount not less than the sum of the aggregate unpaid Dollar Equivalent principal amount of all Loans and the aggregate Stated Amount of all Letters of Credit. Any such reduction shall be in an amount not less than U.S.$5,000,000 or a higher integral multiple of U.S.$1,000,000. The Company may at any time on like notice terminate the Commitments upon payment in full by the Borrowers of all Loans and all other obligations of the Borrowers hereunder and cash collateralization in full, pursuant to documentation in form and substance reasonably satisfactory to the U.S. Banks, of all obligations (contingent or otherwise) arising with respect to the Letters of Credit.
(b) The amount of the Aggregate Commitment shall be reduced on the last day of each calendar quarter, beginning September 30, 2001 and continuing through June 30, 2003, in each case by an amount equal to 2.5% of the sum of $750,000,000 plus the amount of all increases in the Aggregate Commitment pursuant to Section 6.1.2. ------------- No voluntary reduction of the amount of the Aggregate Commitment pursuant to clause (a) above shall reduce any scheduled reduction to the amount of the ---------- Aggregate Commitment pursuant to this clause (b). ----------
(c) The Company shall reduce the Aggregate Commitment at any time, and in the amount, required by Section 10.9. ------------
(d) All reductions of the amount of the Aggregate Commitment shall reduce the Commitments pro rata among the U.S. Banks according to their respective Percentages.
Reduction or Termination of the Aggregate Commitment. Borrower may, upon prior notice to Lenders (through Agent), terminate in whole or reduce in part, as of the date specified by Borrower in such notice, any then unused portion of the Aggregate Commitment, in an amount of at least $1,000,000 or any amount in excess thereof (unless such unused portion of the Aggregate Commitment is less than $1,000,000, in which case Borrower may reduce the entire amount thereof). From the effective date of any reduction or termination, any commitment fee payable pursuant to the Fee Letter shall be computed on the basis of the Aggregate Commitment as so reduced or terminated. Once reduced or terminated, the Aggregate Commitment may not be increased or otherwise reinstated.