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

Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders under any Facility, provided that each partial reduction (x) shall be in the minimum aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facility.

Appears in 3 contracts

Samples: Credit Agreement (International Flavors & Fragrances Inc), Credit Agreement (International Flavors & Fragrances Inc), Credit Agreement (International Flavors & Fragrances Inc)

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Termination or Reduction of the Commitments. (a) The Company Borrowers shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused unused portions of the respective Commitments of the Lenders under any FacilityLenders, provided that each partial reduction (x) shall be in the minimum aggregate amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facilitythereof.

Appears in 2 contracts

Samples: Credit Agreement (Mirae Asset Discovery Funds), Credit Agreement (Mirae Asset Discovery Funds)

Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused unused portions of the respective Commitments of the Lenders under any FacilityLenders, provided that each partial reduction (x) shall be in the minimum aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) provided further that the aggregate amount of the Commitments of the Lenders shall not be made ratably among reduced to an amount that is less than the Appropriate Lenders in accordance with their Commitments with respect to such Facilityaggregate Dollar Amount of the Competitive Bid Advances then outstanding.

Appears in 2 contracts

Samples: Year Credit Agreement (Polyone Corp), Year Credit Agreement (Polyone Corp)

Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Revolving Credit Commitments or the Unissued Letter of Credit Commitments of the Lenders under any FacilityLenders, provided that each partial reduction (x) shall be in the minimum aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facilitythereof.

Appears in 1 contract

Samples: Five Year Credit Agreement (York International Corp /De/)

Termination or Reduction of the Commitments. (a) ------------------------------------------- Optional. The Company shall have the right, upon at least three Business Days' -------- notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Unused aggregate unused Commitments of the Lenders under any Facility, Lenders; provided that each partial -------- reduction (x) shall be in the minimum an aggregate amount of $10,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among or, if less, the Appropriate Lenders in accordance with their aggregate amount of all Commitments with respect to at such Facilitytime.

Appears in 1 contract

Samples: Day Credit Agreement (Sprint Corp)

Termination or Reduction of the Commitments. (a) The Company Borrower shall have the right, upon at least three Business Days’ notice to the AgentAgent (which shall promptly notify each of the Lenders), to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders under any Facilityunused Commitments, provided that each partial reduction (x) shall be in the minimum aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facilitythereof.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Gatx Corp)

Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments of the Lenders under any Facilityor the Unissued Letter of Credit Commitments of the Issuing Banks, provided that each partial reduction (x) shall be in the minimum aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facilitythereof.

Appears in 1 contract

Samples: Five Year Credit Agreement (Electronic Data Systems Corp /De/)

Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments of the Lenders under any FacilityLenders, provided that each partial reduction (x) shall be in the a minimum aggregate amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facilitythereof.

Appears in 1 contract

Samples: Credit Agreement (Chemtura CORP)

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Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments unused portions of the Lenders under any FacilityTerm Commitments, the Unused Revolving Credit Commitments, the unused Swing Line Commitments or the Unissued Letter of Credit Commitments, provided that each partial reduction of a Facility (xi) shall be in the minimum aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (yii) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facility.

Appears in 1 contract

Samples: Credit Agreement (Jabil Circuit Inc)

Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments of the Lenders under any Facility, provided that each partial reduction (x) shall be in the minimum aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facility.

Appears in 1 contract

Samples: Credit Agreement (International Flavors & Fragrances Inc)

Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three two Business Days' notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments of the Lenders under any FacilityLenders, provided provided, however, that each partial reduction (x) shall be in the minimum aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facilitythereof.

Appears in 1 contract

Samples: Credit Agreement (Xerox Corp)

Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three Business Days' notice to the Paying Agent, to terminate in whole or permanently reduce ratably in part the Unused unused portions of the respective Commitments of the Lenders under any FacilityLenders, provided that each partial reduction (x) shall be in the minimum aggregate amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facilitythereof.

Appears in 1 contract

Samples: Day Credit Agreement (Goodrich Corp)

Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three two Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments of the Lenders under any FacilityLenders, provided provided, however, that each partial reduction (x) shall be in the minimum aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facilitythereof.

Appears in 1 contract

Samples: Credit Agreement (Xerox Corp)

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