Common use of Termination or Reduction Clause in Contracts

Termination or Reduction. The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the respective Unused Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments once reduced as provided in this Section 2.05(a), may not be reinstated, except as provided in Section 2.05(b) below.

Appears in 2 contracts

Sources: Credit Agreement (Washington Post Co), Credit Agreement (Washington Post Co)

Termination or Reduction. The Borrower shall have the right, upon at least ------------------------ three Business Days' notice to the Funding Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Unused Commitments of the Lenders, provided that each partial reduction of the Total Commitment shall be in the aggregate amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments once reduced as provided in this Section 2.05(a), may not be reinstated, except as provided in Section 2.05(b) below.

Appears in 1 contract

Sources: Credit Agreement (Amvescap PLC/London/)

Termination or Reduction. The Borrower 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 portions of the respective Unused Commitments of the Lenders, provided that each partial reduction of the Total Commitment shall be in the aggregate amount of $10,000,000 50,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments once reduced as provided in this Section 2.05(a), may not be reinstated, except as provided in Section 2.05(b) below.

Appears in 1 contract

Sources: Credit Agreement (Amvescap PLC/London/)

Termination or Reduction. The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the respective Unused Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments once reduced as provided in this Section 2.05(a), may not be reinstated, except as provided in Section 2.05(b) below.

Appears in 1 contract

Sources: Credit Agreement (Washington Post Co)

Termination or Reduction. The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the respective Unused Commitments of the LendersLender Parties, provided that (i) each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments thereof and (ii) once reduced as provided in this Section 2.05(a)terminated, a Commitment may not be reinstated, reinstated except as provided in Section 2.05(b) below2.06(b).

Appears in 1 contract

Sources: Credit Agreement (Genuity Inc)

Termination or Reduction. The Borrower 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 portions of the respective Unused Commitments of the Lenders, provided that each partial reduction of the Total Commitment shall be in the aggregate amount of $10,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments once reduced as provided in this Section 2.05(a), may not be reinstated, except as provided in Section 2.05(b) below.

Appears in 1 contract

Sources: Credit Agreement (Invesco Ltd.)

Termination or Reduction. The Borrower 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 portions of the respective Unused Commitments of the Lenders, provided that each partial reduction of the Total Commitment shall be in the aggregate amount of $10,000,000 50,000,000 or an integral multiple of $1,000,000 in excess thereof. The aggregate amount of the Commitments once reduced as provided in this Section 2.05(a), may not be reinstated, except as provided in Section 2.05(b) below.

Appears in 1 contract

Sources: Five Year Credit Agreement (Invesco Ltd.)