Reduction or Termination of the Credit Sample Clauses

Reduction or Termination of the Credit. The Borrower may from time to time, upon at least five Banking Days' prior written or telephonic notice received by the Bank, permanently reduce the amount of the Credit, but only upon payment of the unpaid principal amount of the Loans, if any, in excess of the then reduced amount of the Credit, plus (i) accrued interest to the date of such payment on the principal amount being repaid, if any, and (ii) any amount required to indemnify the Bank pursuant to Section 2.6 in respect of such payment. Any such reduction shall be in a minimum amount of $1,000,000 or in an integral multiple of $1,000,000 in excess thereof. The Borrower may at any time on like notice terminate the Credit upon payment in full of (a) the Loans, (b) accrued interest thereon to the date of such payment, (c) any amount required to indemnify the Bank pursuant to Section 2.6 in respect of such payment, and (d) any other liabilities of the Borrower hereunder. The Borrower shall promptly confirm any telephonic notice of reduction or termination of the Credit in writing.
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Reduction or Termination of the Credit. The Company may from time to time, upon at least five (5) Banking Days' prior written notice received by the Agent (which shall promptly advise each Bank thereof), permanently reduce the amount of the Credit (such reduction to be made among the Banks according to their respective pro rata share of the Credit), but only upon payment of the outstanding principal of the Notes in excess of the then reduced amount of the Credit, plus accrued interest to the date of such payment on the principal amount being repaid; provided, however, that any reduction of the Credit which would require payment of a Eurodollar Advance may be made only on the last day of the relevant Interest Period for such Eurodollar Advance. Any such reduction shall be in a minimum amount of $1,000,000 or in an integral multiple of $1,000,000. The Company may at any time on like notice terminate the Credit upon payment in full of the outstanding Notes and other liabilities of the Company hereunder.
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Reduction or Termination of the Credit. The Company may from time to time, upon at least five (5) Banking Days' prior written or telephonic notice received by the Agent (which shall promptly advise the Banks), irrevocably elect to permanently reduce the amount of the Credit and the Commitment Amounts (such reduction to be made among the Banks according to their respective Percentages), but only upon payment to the Agent, for the account of the Banks, of the unpaid principal amount of the Revolving Loans, if any, in excess of the then reduced amount of the Revolving Credit Commitment Amount, plus (i) accrued interest to the date of such payment on the principal amount being repaid and (ii) any amount required to indemnify each of the Banks pursuant to Section 3.4 in respect of such payment. Any such reduction shall be in a minimum amount of $1,000,000 and in an integral multiple of $500,000. The Company may at any time on like notice irrevocably elect to terminate the Credit and the Commitments upon payment in full of (a) the Revolving Loans (or the Term Loans, if applicable), (b) unpaid accrued interest on Loans to the date of such payment, (c) any amount required to indemnify any Bank pursuant to Section 3.4 in respect of such payment, and (d) any other Liabilities of the Company. The Company shall promptly confirm any telephonic notice of reduction or termination of the Credit in writing.
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Reduction or Termination of the Credit. The Company may from time to time, upon at least three Banking Days' prior written or telephonic notice received by the Agent (which shall promptly advise each Bank thereof), permanently reduce the amount of the Commitments, but only upon payment of the unpaid principal amount of the Revolving Loans, if any, in excess of the then reduced amount of the Credit, plus (I) accrued interest to the date of such payment on the principal amount being repaid, (ii) any amount required to indemnify the Bank pursuant to Section 2.7 in respect of such payment, and (iii) the commitment fee on the amount of each Bank's Commitment so reduced which is accrued but unpaid through the date of such reduction, it being understood that at no time may the unpaid principal amount of the Revolving Loans exceed the aggregate Commitments. Any such reduction shall be in a minimum amount of $1,000,000 and in an integral multiple of $100,000. The Company may at any time on like notice terminate the Credit upon payment in full of (a) the Revolving Loans, (b) accrued interest thereon to the date of such payment,(c)any amount required to indemnify the Banks pursuant to Section 2.7 in respect of such payment, and (d) any other liabilities of the Company hereunder. The Company shall promptly confirm any telephonic notice of reduction or termination of the Credit in writing."
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Related to Reduction or Termination of the Credit

  • Reduction or Termination of Commitments Unless previously terminated, the Commitments shall terminate on the Revolving Commitment Termination Date. The Borrower shall have the right, upon not less than two Business Days’ written notice to the Administrative Agent, to terminate the Commitments or, from time to time, reduce the amount of the Commitments; provided, however, that the Borrower shall not terminate or reduce any Commitment if, after giving effect to any concurrent repayment of the Loans in accordance with Section 2.07 and Section 2.08, the total Credit Exposure of the Lenders would exceed the sum of total Commitments. Any reduction shall be accompanied by prepayment of the Loans to the extent, if any, that the total Credit Exposure of the Lenders then outstanding exceeds the sum of the total Commitments as then reduced. Any termination of the Commitments shall be accompanied by prepayment in full of the Loans then outstanding and the payment of any unpaid fees then accrued hereunder. Upon receipt of such notice, the Administrative Agent shall promptly notify each Lender thereof. Any partial reduction shall be in an amount of $5,000,000 or a whole multiple thereof and shall reduce permanently the total amount of the Commitments, together with a corresponding reduction in the aggregate amount of each Lender’s applicable Commitment. The Commitments, once terminated or reduced, may not be reinstated. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their Commitments (except for in connection with the termination of this Agreement as to any Lender pursuant to Section 10.15).

  • Modification or Termination The Loan Documents may only be modified or terminated by a written instrument or instruments intended for that purpose and executed by the party against which enforcement of the modification or termination is asserted. Any alleged modification or termination which is not so documented shall not be effective as to any party.

  • Termination or Reduction of the Commitments (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reduction.

  • Amendment, Suspension or Termination of the Plan By accepting this Award, Participant expressly warrants that he or she has received an Award of Restricted Stock Units under the Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time.

  • Optional Termination or Reduction of the Commitments (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof.

  • Resignation or Termination of Agent The Agent may resign at any time on ten (10) days’ prior notice, so long as a successor Agent, reasonably satisfactory to the Note Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a Securitization is satisfactory to the Note Holders), has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. UBS AG, New York Branch, as Initial Agent, may transfer its rights and obligations to a Servicer, the Trustee or the Certificate Administrator, as successor Agent, at any time without the consent of any Note Holder. Notwithstanding the foregoing, Note Holders hereby agree that, simultaneously with the closing of the Lead Securitization, the Master Servicer shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place of UBS AG, New York Branch without any further notice or other action. The termination or resignation of such Master Servicer, as Master Servicer under the Lead Securitization Servicing Agreement, shall be deemed a termination or resignation of such Master Servicer as Agent under this Agreement, and any successor master servicer shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place thereof without any further notice or other action.

  • Dissolution or Termination Any particular Series shall be dissolved upon the occurrence of the applicable dissolution events set forth in Article VIII, Section 1 hereof. Upon dissolution of a particular Series, the Trustees shall wind up the affairs of such Series in accordance with Article VIII Section 1 hereof and thereafter, rescind the establishment and designation thereof. The Board of Trustees shall terminate any particular Class and rescind the establishment and designation thereof: (i) upon approval by a majority of votes cast at a meeting of the Shareholders of such Class, provided a quorum of Shareholders of such Class are present, or by action of the Shareholders of such Class by written consent without a meeting pursuant to Article V, Section 3; or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Class, or (B) upon prior written notice to the Shareholders of such Class; provided, however, that upon the rescission of the establishment and designation of any particular Series, every Class of such Series shall thereby be terminated and its establishment and designation rescinded. Each resolution of the Board of Trustees pursuant to this Section 6(i) shall be incorporated herein by reference upon adoption.

  • Expiration or Termination A. Owner shall have the right, upon thirty (30) days prior written notice to Operator, to terminate this Agreement in its entirety, upon or after the happening of one or more of the following events, if said event or events shall then be continuing:

  • Cancellation or Termination The Provider is the responsible party for honoring cancellation requests. Such requests must be received in writing. You may cancel this Service Agreement at any time (send your written request to us at xxxxxxxxxxxxx@0-00.xxx) and is non-cancelable by us, except for:

  • Effect of Termination or Reduction Any termination or reduction of the Commitments of a Class shall be permanent. Each reduction of the Commitments of a Class shall be made ratably among the Lenders of such Class in accordance with their respective Commitments.

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