Termination and Reduction of Commitments and Swingline Commitment. (a) Unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date. (b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 or, if greater, an integral multiple of $5,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(b) may not thereafter be reinstated. (c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 2 contracts
Sources: Credit Agreement (Old Dominion Freight Line, Inc.), Credit Agreement (Old Dominion Freight Line, Inc.)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Commitments shall be automatically and permanently terminated on the Termination Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 or, if greater, an integral multiple of $5,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(bsubsection (b) may not thereafter be reinstated.
(c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 2 contracts
Sources: Credit Agreement (Old Dominion Freight Line Inc/Va), Credit Agreement (Old Dominion Freight Line Inc/Va)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Term Loan Commitments shall be automatically and permanently terminated concurrently with the making of the Term Loans on the Closing Date. The Revolving Credit Commitments shall be automatically and permanently terminated on the Revolving Credit Termination Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date8.2.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, and in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Revolving Credit Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 5,000,000 ($500,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(b) may not thereafter be reinstated.
(c) Each reduction of the Revolving Credit Commitments pursuant to this Section 2.5 shall be applied ratably among the Revolving Credit Lenders according to their respective Revolving Credit Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Revolving Credit Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Revolving Credit Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment Commitment, as the case may be, to the amount of the aggregate Revolving Credit Commitments (as so reduced), without any further action on the part of the Borrower or Borrower, the Swingline Lender or any other Lender.
Appears in 2 contracts
Sources: Credit Agreement (Intercontinentalexchange Inc), Credit Agreement (Intercontinentalexchange Inc)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Commitments shall be automatically and permanently terminated on the Termination Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the . The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, and in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 2,000,000 ($500,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(b2.5(a) may not thereafter be reinstated.
(c) Each reduction of the Commitments pursuant to this Section 2.5 section shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment or the Letter of Credit Subcommitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment or the Letter of Credit Subcommitment, to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or Borrower, the Swingline Lender or any other Lender.
Appears in 2 contracts
Sources: Credit Agreement and Pledge and Security Agreement (Swisher Hygiene Inc.), Credit Agreement (Swisher Hygiene Inc.)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the The aggregate Commitments shall be automatically and permanently terminated on the Commitment Termination Date and (ii) the Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Commitment Termination Date.
(b) At any time and from time to time after the date hereof, upon not less than five (5) three Business Days’ prior written notice to the Administrative Agent (and, and in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, ; provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 5,000,000 ($500,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof thereof, and applied ratably among the Lenders according to their respective Commitments ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(b2.6(b) may not thereafter be reinstated.
(c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 2.6 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment or the Letter of Credit Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment or the Letter of Credit Commitment, as the case may be, to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or Borrower, the Issuing Lender, the Swingline Lender or any other Lender.
(c) All fees accrued in respect of the Unutilized Commitments until the effective date of any termination thereof shall be paid on the effective date of such termination.
Appears in 2 contracts
Sources: Credit Agreement (Unum Group), Credit Agreement (Unum Group)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the The aggregate Commitments shall be automatically and permanently terminated on the Commitment Termination Date and (ii) the Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Commitment Termination Date.
(b) At any time and from time to time after the date hereof, upon not less than five (5) three Business Days’ prior written notice to the Administrative Agent (and, and in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower Company may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, ; provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 1,000,000 ($500,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment), and applied ratably among the Lenders according to their respective Commitments. Any such notice delivered by the Company may be conditioned upon the effectiveness of other transactions, in which case such notice may be revoked or its effectiveness deferred by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. The amount of any termination or reduction made under this Section 2.5(b2.6(b) may not thereafter be reinstated.
(c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 2.6 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment Commitment, the Letter of Credit Sublimit and/or the Participated Letter of Credit Sublimit at such time shall result in an automatic corresponding reduction of the Swingline Commitment Commitment, the Letter of Credit Sublimit and/or the Participated Letter of Credit Sublimit, as the case may be, to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or Borrowers, the Issuing Banks, the Swingline Lender or any other Lender.
(c) All fees accrued in respect of the Unutilized Commitments until the effective date of any termination thereof shall be paid on the effective date of such termination.
Appears in 2 contracts
Sources: Credit Agreement (Unum Group), Credit Agreement (Unum Group)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the The aggregate Commitments shall be automatically and permanently terminated on the Commitment Termination Date and (ii) the Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Commitment Termination Date.
(b) At any time and from time to time after the date hereof, upon not less than five (5) three Business Days’ prior written notice to the Administrative Agent (and, and in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower Company may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, ; provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 1,000,000 ($500,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment), and applied ratably among the Lenders according to their respective Commitments. Any such notice delivered by the Company may be conditioned upon the effectiveness of other transactions, in which case such notice may be revoked or its effectiveness deferred by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. The amount of any termination or reduction made under this Section 2.5(b2.6(b) may not thereafter be reinstated.
(c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 2.6 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or Borrowers, the Issuing Banks, the Swingline Lender or any other Lender.
(c) All fees accrued in respect of the Unutilized Commitments until the effective date of any termination thereof shall be paid on the effective date of such termination.
Appears in 1 contract
Sources: Credit Agreement (Unum Group)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the The Term Loan Commitments shall be automatically and permanently terminated on the Closing Date (or, if earlier, on May 28, 1999), unless the Term Loans have been made in full on or prior to such date. The Revolving Credit Commitments shall be automatically and permanently terminated on the Revolving Credit Termination Date and (ii) or on May 28, 1999, but only if the Closing Date shall not have occurred on or prior to such date). The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section or Section 8.2.
(b) The Revolving Credit Commitments shall, on each date upon which a prepayment of the Loans is required under any of subsections (d) and (e) of Section 2.6 (and exceeds in amount the aggregate principal amount of Term Loans then outstanding) or would be required if Term Loans were then outstanding, be automatically and permanently reduced by the amount, if any, by which the amount of such required prepayment (determined as if an unlimited amount of Term Loans were then outstanding) exceeds the aggregate principal amount of Term Loans then actually outstanding, as more particularly set forth in Section 2.6(f).
(c) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ ' prior written notice to the Administrative Agent (and, in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Revolving Credit Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 5,000,000 ($1,000,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment)thereof. The amount of any termination or reduction made under this Section 2.5(bsubsection (c) may not thereafter be reinstated.
(cd) Each reduction of the Revolving Credit Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Revolving Credit Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Revolving Credit Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Revolving Credit Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Revolving Credit Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 1 contract
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Term A-1 Loan Commitments shall be automatically and permanently terminated with the making of the Term A-1 Loans on the Closing Date. The Revolving Credit Commitments shall be automatically and permanently terminated on the Revolving Credit Termination Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the . The Incremental Term Loan Commitments relating to any Series of Incremental Term Loans shall be automatically and permanently terminated on with the Termination Date and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Datemaking of such Series of Incremental Term Loans.
(b) At any time and from time to time after the date hereof, upon not less than five three (53) Business Days’ prior written notice to the Administrative Agent (and, in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Revolving Credit Commitments (but not to an amount lower than the aggregate principal amount of Swingline Loans outstanding at the time of reduction) or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 1,000,000 ($200,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 500,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(b) may not thereafter be reinstated.
(c) Each reduction of the Revolving Credit Commitments pursuant to this Section 2.5 shall be applied ratably among the Revolving Credit Lenders according to their respective Revolving Credit Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Revolving Credit Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Revolving Credit Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Revolving Credit Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 1 contract
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the The Tranche B Commitments shall be automatically and permanently terminated on the Closing Date (or, if earlier, on July 31, 2002), unless the Tranche B Term Loans have been made in full on or prior to such date. The Revolving Credit Commitments shall be automatically and permanently terminated on the Revolving Credit Termination Date and (ii) the Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section or Section 8.2.
(b) The Revolving Credit Commitments shall, on each date upon which a prepayment of the Loans is required under any of subsections (d) and (e) of Section 2.6 (and exceeds in amount the aggregate principal amount of Term Loans then outstanding) or would be required if Term Loans were then outstanding, be automatically and permanently reduced by the amount, if any, by which the amount of such required prepayment (determined as if an unlimited amount of Term Loans were then outstanding) exceeds the aggregate principal amount of Term Loans then actually outstanding, as more particularly set forth in Section 2.6(g).
(c) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ ' prior written notice to the Administrative Agent (and, in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Revolving Credit Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 5,000,000 ($1,000,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment)thereof. The amount of any termination or reduction made under this Section 2.5(bsubsection (c) may not thereafter be reinstated.
(cd) Each reduction of the Revolving Credit Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Revolving Credit Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Revolving Credit Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Revolving Credit Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Revolving Credit Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 1 contract
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Commitments shall be automatically and permanently terminated on the Termination Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 or, if greater, an integral multiple of $5,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(bsubsection (b) may not thereafter be reinstated.
(c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 1 contract
Sources: Credit Agreement (Old Dominion Freight Line Inc/Va)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Tranche A Term Loan Commitments and Tranche B Term Loan Commitments shall be automatically and permanently terminated on June 13, 2003, if the Closing Date shall not have occurred on or prior to such date. The Revolving Credit Commitments shall be automatically and permanently terminated on the Revolving Credit Termination Date (or on June 13, 2003, if the Closing Date shall not have occurred on or prior to such date). The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date (or on June 13, 2003, if the Closing Date shall not have occurred on or prior to such date), unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date.
(b) At any time and from time to time after the date hereof, upon not less than five three (53) Business Days’ prior written notice to the Administrative Agent (and, in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Revolving Credit Commitments (but not to an amount lower than the aggregate principal amount of Swingline Loans outstanding at the time of reduction) or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 1,000,000 ($200,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 500,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(b) may not thereafter be reinstated.
(c) Each reduction of the Revolving Credit Commitments pursuant to this Section 2.5 shall be applied ratably among the Revolving Credit Lenders according to their respective Revolving Credit Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Revolving Credit Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Revolving Credit Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Revolving Credit Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 1 contract
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Commitments shall be automatically and permanently terminated on the Termination Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date8.2.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, and in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Dollar Commitments, the aggregate Unutilized Multicurrency Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 5,000,000 ($500,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(b) may not thereafter be reinstated.
(c) Each Except as set forth in Section 2.5(d), each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders of such Class according to their respective CommitmentsCommitments of such Class. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Dollar Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment Commitment, as the case may be, to the amount of the aggregate Dollar Commitments (as so reduced), without any further action on the part of the Borrower, the Swingline Lender or any other Lender.
(d) The Borrower or shall have the right, at any time, upon at least ten Business Days’ notice to a Defaulting Lender (with a copy to the Administrative Agent), to terminate in whole such Lender’s Commitment, without affecting the Commitments of any other Lender; provided that, (i) for so long as any Loans are outstanding, the consent of the Required Lenders shall be required prior to the termination of the Commitment of any Defaulting Lender and (ii) such Defaulting Lender has paid the Administrative Agent, the Swingline Lender, the Issuing Lender and any Lender all amounts owed by such Defaulting Lender pursuant to the terms of this Agreement. Such termination shall be effective, (x) with respect to such Lender’s Unutilized Commitment, on the date set forth in such notice, provided, however, that such date shall be no earlier than ten Business Days after receipt of such notice and (y) with respect to each Revolving Loan outstanding to such Lender, in the case of Base Rate Loans, on the date set forth in such notice and, in the case of LIBOR Loans, on the last day of the then current Interest Period relating to such LIBOR Loan. Upon termination of a Lender’s Commitments under this Section 2.5(d), the Borrower will pay or cause to be paid all principal of, and interest accrued to the date of such payment on, Revolving Loans owing to such Lender and, subject to Section 2.21, pay any accrued commitment fees or letter of credit fees payable to such Lender pursuant to the provisions of Section 2.9, and all other amounts payable to such Lender hereunder (including, but not limited to, any amounts owing under Sections 2.15 and 2.16); and, if such Lender is an Issuing Lender, shall pay to such Issuing Lender for deposit in an escrow account an amount equal to the Letter of Credit Exposure issued by such Issuing Bank, whereupon all Letters of Credit issued by such Issuing Bank shall be deemed to have been issued outside of this Agreement on a bilateral basis and shall cease for all purposes to constitute a Letter of Credit issued under this Agreement, and upon such payments, except as otherwise provided below, the obligations of such Lender hereunder shall, by the provisions hereof, be released and discharged; provided, however, that (i) such Lender’s rights under Sections 2.15, 2.16, 2.19(j) and 10.1, in each case in accordance with the terms thereof, shall survive such release and discharge as to matters occurring prior to such date and (ii) such escrow agreement shall be in a form reasonably agreed to by the Borrower and such Issuing Lender. Subject to Section 2.20, the aggregate amount of the Commitments of the Lenders once reduced pursuant to this Section 2.5(d) may not be reinstated. The termination of the Commitments of a Defaulting Lender pursuant to this Section 2.5(d) will not be deemed to be a waiver of any right that the Borrower, the Administrative Agent, the Issuing Lender or any other Lender may have against such Defaulting Lender that arose prior to the date of such termination. Upon any such termination, the pro rata shares of the remaining Lenders will be revised.
Appears in 1 contract
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the The Commitments shall be automatically and permanently terminated on the Termination Date Maturity Date, and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, in each case unless sooner terminated pursuant to subsections (b) or (c) below or Section 9.2.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ ' prior written notice to the Administrative Agent (and, in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Aggregate Unutilized Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 5,000,000 ($1,000,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment)thereof. The amount of any termination or reduction made under this Section 2.5(bsubsection (b) may not thereafter be reinstated.
(c) The Aggregate Commitments shall, on each date upon which a prepayment of the Loans is required under Sections 2.6(d) through 2.6(f), be automatically and permanently reduced by an amount equal to the amount of such required prepayment.
(d) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Aggregate Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Aggregate Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 1 contract
Sources: Credit Agreement (Movie Gallery Inc)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Facility 1 Term Loan Commitments shall be automatically and permanently terminated concurrently with the making of the Facility 1 Term Loans on the Closing Date. The Revolving Commitments shall be automatically and permanently terminated on the Revolving Termination Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the 8.2. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 8.2.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, and in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Revolving Commitments or the Unutilized Swingline Commitment, ; provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 5,000,000 ($500,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(b) may not thereafter be reinstated.
(c) Each reduction of the Revolving Commitments pursuant to this Section 2.5 shall be applied ratably among the Revolving Lenders according to their respective Revolving Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Revolving Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Revolving Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Revolving Commitments (as so reduced), without any further action on the part of the Borrower or Borrower, the Swingline Lender or any other Lender.
Appears in 1 contract
Sources: Credit Agreement (Greenbacker Renewable Energy Co LLC)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Commitments shall be automatically and permanently terminated on the Termination Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 1,000,000 or, if greater, an integral multiple of $5,000,000 500,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(bsubsection (b) may not thereafter be reinstated.
(c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 1 contract
Sources: Credit Agreement (Old Dominion Freight Line Inc/Va)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the The aggregate Commitments shall be automatically and permanently terminated on the Commitment Termination Date and (ii) the Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Commitment Termination Date.
(b) At any time and from time to time after the date hereof, upon not less than five (5) three Business Days’ prior written notice to the Administrative Agent (and, and in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, ; provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 5,000,000 ($500,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment), and applied ratably among the Lenders according to their respective Commitments. The amount of any termination or reduction made under this Section 2.5(b2.6(b) may not thereafter be reinstated.
(c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 2.6 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment Commitment, the Letter of Credit Sublimit and/or the Participated Letter of Credit Sublimit at such time shall result in an automatic corresponding reduction of the Swingline Commitment Commitment, the Letter of Credit Sublimit and/or the Participated Letter of Credit Sublimit, as the case may be, to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or Borrower, the Issuing Banks, the Swingline Lender or any other Lender.
(c) All fees accrued in respect of the Unutilized Commitments until the effective date of any termination thereof shall be paid on the effective date of such termination.
Appears in 1 contract
Sources: Credit Agreement (Unum Group)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Commitments shall be automatically and permanently terminated on the Termination Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the . The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, and in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower ▇▇▇▇▇▇▇▇ may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, ; provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 or5,000,000 ($500,000 in the case of the Unutilized Swingline Commitment) and, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(b) may not thereafter be reinstated; provided that a notice of termination or reduction delivered by ▇▇▇▇▇▇▇▇ pursuant to this Section 2.5(b) may state that such termination or reduction is conditioned upon the effectiveness of other credit facilities or the receipt of proceeds from the issuance of other Indebtedness, in which case such notice may be revoked by ▇▇▇▇▇▇▇▇ (by notice to the Administrative Agent on or prior to one Business Day before the specified effective date) if such condition is not satisfied.
(c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective CommitmentsApplicable Percentages. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment or the L/C Subcommitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment or the L/C Subcommitment, as the case may be, to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or ▇▇▇▇▇▇▇▇, the Swingline LenderLender or any other Lender or any Issuing Bank.
Appears in 1 contract
Sources: Credit Agreement (Crawford & Co)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Term Loan Commitments shall be automatically and permanently terminated concurrently with the making of the Term Loans on the Closing Date (or on December 15, 2003, if the Closing Date shall not have occurred on or prior to such date). The Revolving Credit Commitments shall be automatically and permanently terminated on the Revolving Credit Termination Date (or on December 15, 2003, if the Closing Date shall not have occurred on or prior to such date), unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the . The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity DateDate (or on December 15, 2003, if the Closing Date shall not have occurred on or prior to such date), unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2.
(b) At any time and from time to time after the date hereof, upon not less than five three (53) Business Days’ prior written notice to the Administrative Agent (and, and in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Revolving Credit Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 1,000,000 ($200,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 500,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment), and provided further that a notice of termination of the Revolving Credit Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, a public offering of Capital Stock of the Parent or a sale of all or substantially all the assets or Capital Stock of the Borrower or the Parent (whether by merger or otherwise), in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. The amount of any termination or reduction made under this Section 2.5(b) may not thereafter be reinstated.
(c) Each reduction of the Revolving Credit Commitments pursuant to this Section 2.5 shall be applied ratably among the Revolving Credit Lenders according to their respective Revolving Credit Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Revolving Credit Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Revolving Credit Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Revolving Credit Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 1 contract
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Commitments shall be automatically and permanently terminated on the Termination Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 3,000,000 ($1,000,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 500,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(bsubsection (b) may not thereafter be reinstated.
(c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or the Swingline Lender.
Appears in 1 contract
Sources: Credit Agreement (Old Dominion Freight Line Inc/Va)
Termination and Reduction of Commitments and Swingline Commitment. (a) Unless The Commitments shall be automatically and permanently terminated on the Revolving Credit Termination Date. The Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date, unless sooner terminated pursuant to any other provision of this Section 2.5 or Section 9.2, (i) the Commitments shall be automatically and permanently terminated on the Termination Date and (ii) the Swingline Commitment shall be automatically and permanently terminated on the Swingline Maturity Date8.2.
(b) At any time and from time to time after the date hereof, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (and, or in the case of a termination or reduction of the Unutilized Swingline Commitment, the Swingline Lender), the Borrower may terminate in whole or reduce in part the aggregate Unutilized Commitments or the Unutilized Swingline Commitment, provided that any such partial reduction shall be in an aggregate amount of not less than $10,000,000 5,000,000 ($500,000 in the case of the Unutilized Swingline Commitment) or, if greater, an integral multiple of $5,000,000 1,000,000 in excess thereof ($1,000,000 or if greater, an integral multiple of $100,000 in the case of the Unutilized Swingline Commitment). The amount of any termination or reduction made under this Section 2.5(b) may not thereafter be reinstated.
(c) Each reduction of the Commitments pursuant to this Section 2.5 shall be applied ratably among the Lenders according to their respective Commitments. Notwithstanding any provision of this Agreement to the contrary, any reduction of the Commitments pursuant to this Section 2.5 that has the effect of reducing the aggregate Commitments to an amount less than the amount of the Swingline Commitment at such time shall result in an automatic corresponding reduction of the Swingline Commitment Commitment, as the case may be, to the amount of the aggregate Commitments (as so reduced), without any further action on the part of the Borrower or Borrower, the Swingline Lender or any other Lender.
Appears in 1 contract