Common use of Termination or Reduction of Revolving Commitments Clause in Contracts

Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such -------- termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

Appears in 4 contracts

Samples: Credit Agreement (Lexar Media Inc), Credit Agreement (Intira Corp), Credit Agreement (Hilfiger Tommy Corp)

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Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- shall have the right, upon not less than three Business Banking Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such -------- termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, (x) the Total Revolving Extensions of Credit would exceed the Total Revolving CommitmentsCommitments or (y) the Available Revolving Commitment of any Revolving Bank would be less than zero. Any such reduction shall be in an amount equal to $1,000,00010,000,000, or a whole multiple of $1,000,000 in excess thereof, and shall reduce permanently the Revolving Commitments then in effect.

Appears in 3 contracts

Samples: Credit Agreement (Computer Associates International Inc), Credit Agreement (Computer Associates International Inc), Credit Agreement (Computer Associates International Inc)

Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such -------- termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

Appears in 2 contracts

Samples: Coaxial LLC, Insight Communications Co Inc

Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided PROVIDED that no such -------- termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

Appears in 2 contracts

Samples: Credit Agreement (Montgomery Open Mri LLC), Credit Agreement (Buslease Inc /New/)

Termination or Reduction of Revolving Commitments. The Subject to the terms of the Subordination Agreement, the Borrower ------------------------------------------------- shall have the right, upon not less than three Business Days' notice to the Administrative AgentLenders, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided provided, that no such -------- termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total aggregate principal amount of Revolving Extensions of Credit Loans then outstanding would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

Appears in 2 contracts

Samples: Subordinated Credit Agreement (Virgin Mobile USA, Inc.), Guarantee and Collateral Agreement (Virgin Mobile USA, Inc.)

Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Total Revolving Commitments or, from time to time, to reduce the amount of the Total Revolving CommitmentsCommitments or the Swing Line Commitment; provided that no such -------- termination or reduction of Total Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions aggregate outstanding amount of Credit Loans would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments and/or the Swing Line Commitment, as applicable, then in effecteffect on a pro-rata basis.

Appears in 1 contract

Samples: Senior Credit Agreement (AerCap Holdings N.V.)

Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- shall have the right, upon not less than three Business Days' notice by delivery of a notice of prepayment to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such -------- termination or reduction of -------- Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000100,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (American Pharmaceutical Partners Inc /Ca/)

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Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- ------------------------------------------------------ shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such -------- termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,00010,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Agl Resources Inc)

Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- Subject to Section 2.9, ASC shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such -------- termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000500,000, or a whole multiple of $100,000 in excess thereof, shall be made pro rata to the Revolving Commitments of all Revolving Lenders and shall reduce permanently the Revolving Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (American Skiing Co /Me)

Termination or Reduction of Revolving Commitments. The Borrower ------------------------------------------------- shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Total Revolving Commitments or, from time to time, to reduce the amount of the Total Revolving Commitments, in each case, without premium or penalty; provided that no such -------- termination or reduction of Total Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently (subject to Section 2.1(b)) the Total Revolving Commitments then in effect.. Following an Extension Request pursuant to Section

Appears in 1 contract

Samples: Credit Agreement (Northern States Power Co)

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