Termination/Reduction Sample Clauses
Termination/Reduction. (i) The Borrower shall have the right to terminate the Loan prior to the originally scheduled Maturity Date by providing the Administrative Agent (with the Administrative Agent giving prompt notice thereof to the Lenders) with ten (10) days’ written notice of the Borrower’s intention to terminate the Loan (the date of such termination being the “Borrower Termination Date”). In the event that the Borrower provides such written notice to the Administrative Agent, (i) as of the date of the notice, the Lenders shall have no further obligation to make or issue, and the Borrower shall have no further right to receive or request, any Loan Advances or any Letters of Credit hereunder, and (ii) the Borrower shall be obligated on the Borrower Termination Date to pay in full all accrued interest, principal and other charges due with respect to the Loan, including, without limitation, any Breakage Fees due on account of such payment and (y) either (1) provide Administrative Agent with cash collateral equal to the outstanding amount of all outstanding Letters of Credit from a source other than the proceeds of the Loan or (2) return all outstanding Letters of Credit to the Administrative Agent. If such cash collateral is posted, such funds shall be held in an interest bearing account at the Administrative Agent, shall be pledged to secure the Obligations, and shall be refunded on a dollar for dollar basis to the Borrower upon the return to the Administrative Agent, or the expiration, of each Letter of Credit.
(ii) The Borrower shall have the right to reduce the Established Loan Amount to an amount not less than $100,000,000.00 prior to the originally scheduled Maturity Date by providing the Administrative Agent (with the Administrative Agent giving prompt notice thereof to the Lenders) with ten (10) days’ written notice of the Borrower’s intention to reduce the Established Loan Amount (the date of such reduction being the “Borrower Reduction Date”). In the event that the Borrower provides such written notice to the Administrative Agent, (i) as of the date of the notice, the Lenders shall have no further obligation to make or issue, and the Borrower shall have no further right to receive or request, any Loan Advances or any Letters of Credit such that (1) the outstanding principal balance of the Loan plus (2) the L/C Exposure, would exceed such reduced Established Loan Amount, and (ii) the Borrower shall be obligated on the Borrower Reduction Date to pay in full the exces...
Termination/Reduction. The City may voluntarily terminate the Letter of Credit at any time with 30 days prior written notice to the Bank; provided, however, that in the event the City elects to terminate or permanently reduce (excluding in connection with mandatory sinking fund redemptions) the Available Amount of the Letter of Credit prior to its Stated Expiration Date, the City shall pay to the Bank the Letter of Credit Fees that would be due and payable to the Bank through the Stated Expiration Date based on the Available Amount in effect on date of such termination or reduction less the Letter of Credit Fees already paid (the “Make-Whole Fee”) up to and including the termination or reduction date. The City will not be required to pay the Make-Whole Fee to the Bank if: (a) the Letter of Credit is terminated due to a downgrade of the short-term rating of the Bank below “P-1” by ▇▇▇▇▇’▇, “A-1” by S&P, or “F1” by Fitch; or (b) the Bonds are refunded from a source of funds that does not require a credit facility or analogous facility from a bank or financial institution, or the rate of interest on the Bonds is converted to a fixed rate or another interest rate mode that does not require a credit facility, a bank direct purchase facility, or an analogous facility from a bank or financial institution.
Termination/Reduction. Extension and Increase of Commitments; Reduction of AHIHL Sublimit.
(a) Unless previously terminated, the Commitments and the LC Commitments shall terminate on the Maturity Date.
(b) The Company may at any time terminate, or from time to time reduce, the aggregate amount of the Commitments and AHIHL may at any time terminate, or from time to time reduce, the aggregate amount of the AHIHL Sublimit; provided that (i) each reduction of the Commitments or the AHIHL Sublimit, as applicable, shall be in an amount that is an integral multiple of $10,000,000 and not less than $50,000,000 and (ii) the Company or AHIHL, as applicable, shall not terminate or reduce the Commitments or the AHIHL Sublimit, as applicable, if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.10, (a) the sum of the Total Exposures of all the Lenders would exceed the total Commitments or (b) the amount of the Total Exposures of all the Lenders attributable to Loans made to and Letters of Credit issued for the account of AHIHL would exceed the AHIHL Sublimit.
(c) The Company or AHIHL, as applicable, shall notify the Administrative Agent of any election to terminate or reduce the Commitments or the AHIHL Sublimit under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Company or AHIHL, as applicable, pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Company or AHIHL, as applicable, may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Company or AHIHL, as applicable (by notice to the Administrative Agent on or prior to the specified effective date), if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders based on their respective Commitments.
(d) The Company, on behalf of itself and AHIHL, may, by notice to the Administrative Agent (which shall promptly deliver a copy to each of the Lenders) given not less than 30 days and not more than 90 days prior to any anniversary of the Effective Date (a "Maturity Exte...
Termination/Reduction. Company shall have the right, upon at least three Business Days’ notice to Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; provided that each partial reduction shall be in the aggregate amount of $5.0 million or an integral multiple of $1.0 million in excess thereof and; provided, further, that after giving effect to any such partial reduction, the total Commitments shall not be less than the sum of (i) the then outstanding aggregate amount of Loans and (ii) the greater of (x) Letter of Credit Liability or (y) aggregate amount of Letter of Credit Commitments. Once terminated, such Commitments may not be reinstated.
Termination/Reduction or Increases in Commitments --------------------------------------------------
Termination/Reduction and Increase of Aggregate ------------------------------------------------------- Commitment. ----------
(a) Scheduled Termination of Commitments. Unless previously --------------------------------------- terminated, the Commitments shall terminate on the Maturity Date. If at any time the Maximum Credit Amount or the Borrowing Base is terminated or reduced to zero, then the Commitments shall terminate on the effective date of such termination or reduction.
Termination/Reduction and Increase of Revolving Commitments ------------------------------------------------------------
(a) Unless previously terminated, the Revolving Commitments shall terminate on the Revolving Maturity Date.
(b) On each date below, the Revolving Commitments shall be automatically reduced by an amount equal to (i) the total of the Revolving Commitments as of March 30, 2004 multiplied by (ii) the percentage set forth ------------- below adjacent to such date: ==================================================== Date Percentage ---------------------------------------------------- March 31, 2004 3.00% ---------------------------------------------------- June 30, 2004 3.00% ---------------------------------------------------- September 30, 2004 3.00% ---------------------------------------------------- December 31, 2004 3.00% ---------------------------------------------------- March 31, 2005 4.25% ---------------------------------------------------- June 30, 2005 4.25% ---------------------------------------------------- September 30, 2005 4.25% ---------------------------------------------------- December 31, 2005 4.25% ---------------------------------------------------- March 31, 2006 4.25% ---------------------------------------------------- June 30, 2006 4.25% ---------------------------------------------------- September 30, 2006 4.25% ---------------------------------------------------- December 31, 2006 4.25% ---------------------------------------------------- March 31, 2007 4.25% ---------------------------------------------------- June 30, 2007 4.25% ---------------------------------------------------- September 30, 2007 4.25% ---------------------------------------------------- December 31, 2007 4.25% ---------------------------------------------------- March 31, 2008 5.50% ---------------------------------------------------- June 30, 2008 5.50% ---------------------------------------------------- September 30, 2008 5.50% ---------------------------------------------------- December 31, 2008 5.50% ---------------------------------------------------- March 31, 2009 7.50% ---------------------------------------------------- Revolving Maturity Date 7.50% ====================================================
(c) The Borrower may at any time terminate, or from time to time reduce, the Revolving Commitments, provided that (i) the Borrower shall not -------- terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment o...
Termination/Reduction. Notwithstanding the foregoing but subject to Section 4.1, Section 13.1 and Section 13.2, and with the exception of services provided pursuant to the Employee Lease Agreement, which may not be reduced or terminated prior to the expiration of the term set forth therein, at any time after the date hereof and from time to time: 1) CPP may elect to terminate in whole or in part any Metris Services or reduce the scope and duration of any of the Metris Services, by identifying which Metris Services it elects to so terminate or reduce by giving written notice to Metris at least 60 days prior to the effective date of any such termination or reduction (a "Modification Notice") and 2) Metris may elect to terminate in whole or in part any CPP Services or reduce the scope and duration of any of the CPP Services, by identifying which CPP Services it elects to so terminate or reduce by giving a Modification Notice to CPP at least 60 days prior to the effective date of any such termination or reduction. Any termination or reduction in CPP Services or Metris Services proposed pursuant to this paragraph 2.3 shall be subject to review by the Performance Review Committee (as defined in paragraph 14) which shall determine the reduction in fees and/or costs, as applicable, resulting from such termination or reduction. In the event the Performance Review Committee fails to reach a mutually acceptable resolution with respect to such reduction in fees and/or costs, the associated proposed termination or reduction shall not become effective and the Metris Services or CPP Services, as applicable, shall continue at then-current pricing levels.
Termination/Reduction. The City may terminate or reduce any Tax Incentives upon the City’s determination that the Project Operator has failed to comply with any provision of this Agreement or applicable City procedures, policy and guidelines for this program in effect on the date of execution of this Agreement. If the City chooses to terminate or reduce the Tax Incentives pursuant to this provision, termination or reduction of any Tax Incentives shall be effective thirty
Termination/Reduction. This Agreement shall terminate when all the Credits shall have expired or been terminated and all outstanding Liabilities shall have been paid in full. If the Bank receives evidence satisfactory to it that the aggregate amount of all outstanding Guarantees is permanently reduced with the consent of SVG and all affected beneficiaries of Third Party Guarantees, the Bank shall promptly reduce the maximum amount available to be drawn under the Letter of Credit by an amount equal to the amount of such permanent reduction. If the Bank receives evidence satisfactory to it that all outstanding Guarantees have been terminated with the consent of SVG and all beneficiaries of Third Party Guarantees, the Bank shall promptly terminate the Letter of Credit.