Common use of Revolver Commitments Clause in Contracts

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrowers may reduce the Revolver Commitments, without premium or penalty, to an amount not less than the greater of (x) $100,000,000 and (y) the sum of (i) the Revolver Usage as of such date, plus (ii) the principal amount of all Advances not yet made as to which a request has been given by Borrowers under Section 2.3(a), plus (iii) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $5,000,000 (unless the Revolver Commitments are being reduced to $100,000,000 and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $105,000,000), shall be made by providing not less than ten (10) Business Days’ prior written notice to Agent (or such shorter period as is acceptable to Agent in its discretion) and shall be irrevocable provided that such reduction may be subject to a condition consisting of the closing and availability of funds under any financing facility or securities issuable. Once reduced, the Revolver Commitments may not be increased, except in accordance with Section 2.4(g). Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Sources: Credit Agreement (BOISE CASCADE Co)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrowers may reduce the Revolver Commitments, without premium or penalty, to an amount not less than the greater of (x) $100,000,000 and (y) the sum of (i) the Revolver Usage as of such date, plus (ii) the principal amount of all Advances not yet made as to which a request has been given by Borrowers under Section 2.3(a), plus (iii) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $5,000,000 (unless the Revolver Commitments are being reduced to $100,000,000 and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $105,000,000), shall be made by providing not less than ten (10) Business Days’ prior written notice to Agent (or such shorter period as is acceptable to Agent in its discretion) and shall be irrevocable provided that such reduction may be subject to a condition consisting of the closing and availability of funds under any financing facility or securities issuable. Once reduced, the Revolver Commitments may not be increased, except in accordance with Section 2.4(g). Each EachUnless otherwise agreed in writing among Borrowers, Agent and each Lender directly affected thereby, each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Sources: Credit Agreement (BOISE CASCADE Co)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrowers may reduce the Revolver Commitments, without premium or penalty, to an amount not less than the greater of (x) $100,000,000 and (y) the sum of (i) the Revolver Usage as of such date, plus (ii) the principal amount of all Advances not yet made as to which a request has been given by Borrowers under Section 2.3(a), plus (iii) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $5,000,000 (unless the Revolver Commitments are being reduced to 127255152_10 $100,000,000 and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $105,000,000), shall be made by providing not less than ten (10) Business Days’ prior written notice to Agent (or such shorter period as is acceptable to Agent in its discretion) and shall be irrevocable provided that such reduction may be subject to a condition consisting of the closing and availability of funds under any financing facility or securities issuable. Once reduced, the Revolver Commitments may not be increased, except in accordance with Section 2.4(g). Each Unless otherwise agreed in writing among Borrowers, Agent and each Lender directly affected thereby, each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Sources: Credit Agreement (BOISE CASCADE Co)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrowers may reduce the Revolver Commitments, without premium or penalty, to an amount (which may be zero) not less than the greater of (x) $100,000,000 and (y) the sum of (iA) the Revolver Usage as of such date, plus (iiB) the principal amount of all Advances not yet made as to which a request has been given by Borrowers under Section 2.3(a), plus (iiiC) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $5,000,000 (unless the Revolver Commitments are being reduced to $100,000,000 zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $105,000,0005,000,000), shall be made by providing not less than ten (10) 5 Business Days’ Days prior written notice to Agent (or such shorter period as is acceptable to Agent in its discretion) and shall be irrevocable provided that unless such reduction notice specifies it is conditional on the consummation of a refinancing or other transaction, in which case such notice shall be contingent on the consummation thereof, and may be subject revoked by Administrative Borrower if such refinancing or other transaction fails to a condition consisting of the closing and availability of funds under any financing facility or securities issuableclose. Once reduced, the Revolver Commitments may not be increased, except as provided in accordance with Section 2.4(g2.1(a). Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share Pro Rata Share thereof.

Appears in 1 contract

Sources: Credit Agreement (Remy International, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrowers Borrower may reduce the Revolver Commitments, without premium or penalty, Commitments to an amount (which may be zero) not less than the greater of (x) $100,000,000 and (y) the sum of (iA) the Revolver Usage as of such date, plus (iiB) the principal amount of all Advances not yet made as to which a request has been given by Borrowers Borrower under Section 2.3(a), plus (iiiC) the face amount of all Letters of Credit not yet issued as to which a request has been given by Borrowers Borrower pursuant to Section 2.11(a). Each such partial reduction shall be in an amount which is not less than an integral multiple of $5,000,000 1,000,000 (unless the Revolver Commitments are being reduced to $100,000,000 and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $105,000,0005,000,000), shall be made by providing not less than ten (10) 5 Business Days’ Days prior written notice to Agent (or such shorter period as is acceptable to Agent in its discretion) and shall be irrevocable provided that unless such reduction notice specifies it is conditional on the consummation of a refinancing or other transaction, in which case such notice shall be contingent on the consummation thereof, and may be subject revoked by Borrower if such refinancing or other transaction fails to a condition consisting of the closing and availability of funds under any financing facility or securities issuableclose. Once reduced, the Revolver Commitments may not be increased, except in accordance with Section 2.4(g). Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share Pro Rata Share thereof.

Appears in 1 contract

Sources: Credit Agreement (Westwood One Inc /De/)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrowers may reduce the Revolver Commitments, without premium or penalty, to an amount (which may be zero) not less than the greater of (x) $100,000,000 and (y) the sum of (iA) the Revolver Usage as of such date, plus (iiB) the principal amount of all Advances Revolving Loans not yet made as to which a request has been given by Borrowers under Section 2.3(a), 2.2(a) plus (iiiC) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrowers pursuant to Section 2.11(a2.10(a)). Each such reduction shall be in an amount which is not less than $5,000,000 (unless the Revolver Commitments are being reduced to $100,000,000 zero and terminated and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $105,000,0005,000,000), shall be made by providing not less than ten (10) 10 Business Days’ Days prior written notice to Agent (or such shorter period as is acceptable to Agent in its discretion) Agent, and shall be irrevocable provided that such reduction may be subject to a condition consisting of the closing and availability of funds under any financing facility or securities issuableirrevocable. Once reduced, the Revolver Commitments may not be increased, except in accordance with Section 2.4(g). Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof. Notwithstanding the foregoing, unless the Revolver Commitments are being reduced to zero and terminated, no such reduction shall result in the Revolver Commitments being reduced to an amount less than $55,000,000.

Appears in 1 contract

Sources: Credit Agreement (MGP Ingredients Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrowers Borrower may from time to time reduce the Revolver Commitments, without premium or penalty, Commitments to an amount (which may be zero) not less than the greater of (x) $100,000,000 and (y) the sum of (iA) the Revolver Usage as of such date, plus (iiB) the principal amount of all Advances not yet made as to which a request has been given by Borrowers Borrower under Section 2.3(a), plus (iii) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $5,000,000 50,000 (unless the Revolver Commitments are being reduced to $100,000,000 zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $105,000,00050,000), shall be made by providing not less than ten three (103) Business Days’ Days prior written notice to Agent (or such shorter period as is acceptable Agent may agree to Agent in its sole discretion) ), and shall be irrevocable irrevocable; provided that if such reduction is in connection with a refinancing of this Agreement and termination of all of the Revolver Commitments, such notice may be subject to a condition consisting of the closing and availability of funds under any financing facility or securities issuablerevocable and/or extendable. Once reduced, the Revolver Commitments may not be increased, except in accordance with Section 2.4(g). Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Sources: Credit Agreement (Intapp, Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrowers may reduce the Revolver Commitments, without premium or penalty, to an amount (which may be zero) not less than the greater of (x) $100,000,000 and (y) the sum of (iA) the Revolver Usage as of such date, plus (iiB) the principal amount of all Advances not yet made as to which a request has been given by Borrowers under Section 2.3(a), plus (iiiC) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrowers pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $5,000,000 (unless the Revolver Commitments are being reduced to $100,000,000 zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $105,000,00040,000,000), shall be made by providing not less than ten (10) 5 Business Days’ Days prior written notice to Agent (or such shorter period as is acceptable to Agent in its discretion) and shall be irrevocable provided that unless such reduction notice specifies it is conditional on the consummation of a refinancing or other transaction, in which case such notice shall be contingent on the consummation thereof, and may be subject revoked by Administrative Borrower if such refinancing or other transaction fails to a condition consisting of the closing and availability of funds under any financing facility or securities issuableclose. Once reduced, the Revolver Commitments may not be increased, except as provided in accordance with Section 2.4(g2.1(a). Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share Pro Rata Share thereof.

Appears in 1 contract

Sources: Credit Agreement (Remy International, Inc.)