Common use of Revolver Commitments Clause in Contracts

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver 126471205_8 Usage as of such date, plus (B) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower under Section 2.3(a). Each such reduction shall be in an amount which is not less than $10,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $10,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each reduction of the Revolver Commitments shall reduce the Revolver Commitment of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Sources: Credit Agreement (Titan Machinery Inc.)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower Borrowers may reduce the Revolver Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum greater of (A) $40,000,000, and (B) the sum of (x) the Revolver 126471205_8 Usage as of such date, plus (By) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower Borrowers under Section 2.3(a), plus (z) 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 $10,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $10,000,000)5,000,000, shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitment Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Sources: Credit Agreement (Unifi Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may at any time or from time to time reduce the Revolver Commitments, without premium or penalty, to an amount not less than the greater of (which may be zeroA) $25,000,000 and (B) an amount not less than the sum of (A1) the Revolver 126471205_8 Usage as of such date, plus (B2) the principal amount of all Revolving Loans not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (3) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $10,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $10,000,000)500,000, shall be made by providing not less than 10 5 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitment Commitments of each Lender proportionately in accordance with its ratable share thereof.

Appears in 1 contract

Sources: Credit Agreement (Medical Action Industries Inc)

Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. Borrower may reduce the Revolver Commitments, without premium or penalty, Commitments to an amount (which may be zero) not less than the sum of (A) the Revolver 126471205_8 Usage as of such date, plus (B) the principal amount of all Revolving Loans Advances not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $10,000,000 1,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $10,000,0001,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, Agent and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each reduction of the Revolver Commitments shall reduce the Revolver Commitment of each Lender proportionately in accordance with its ratable share thereof.be

Appears in 1 contract

Sources: Credit Agreement (Realpage Inc)