Termination of Revolving Credit Facility. Borrowers shall have the right to terminate or reduce the Revolving Credit Commitment, in whole or in part, upon at least thirty (30) Business Days prior written notice to Lender, without any premium or penalty; provided, however, that all Outstanding Letter of Credit Obligations shall be secured as provided in Section 2.2.3 (Terms of Letters of Credit).
Appears in 3 contracts
Samples: Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp), Financing and Security Agreement (Gp Strategies Corp)
Termination of Revolving Credit Facility. Borrowers shall have the right to terminate or reduce the Revolving Credit Commitment, in whole or in part, upon at least thirty three (303) Business Days prior written notice to Lender, without any premium or penalty; provided, however, that all Outstanding Letter of Credit Obligations shall be secured as provided in Section 2.2.3 (Terms of Letters of Credit)) and that the Obligations with respect to the Term Loan shall have been sooner paid in full.
Appears in 1 contract
Samples: Financing and Security Agreement (Gp Strategies Corp)
Termination of Revolving Credit Facility. Borrowers Borrower shall have the right to terminate or reduce the Revolving Credit Commitment, in whole or in part, upon at least thirty (30) Business Days prior written notice to Lender, without any premium or penalty; provided, however, that all Outstanding Letter of Credit Obligations shall be secured as provided in Section 2.2.3 (Terms of Letters of Credit).
Appears in 1 contract
Samples: Financing and Security Agreement (Gp Strategies Corp)
