Common use of Voluntary Prepayments; Reductions in Revolving Loan Commitments Clause in Contracts

Voluntary Prepayments; Reductions in Revolving Loan Commitments. Borrower may at any time on at least five (5) days’ prior written notice to Agent voluntarily prepay all or part of the Term Loan B; provided that any such prepayments shall be in a minimum amount of $5,000,000 and integral multiples of $250,000 in excess of such amount. In addition, Borrower may at any time on at least 5 days’ prior written notice to Agent permanently reduce (but not terminate) the Revolving Loan Commitment; provided that (A) any such reductions shall be in a minimum amount of $3,000,000 and integral multiples of $250,000 in excess of such amount, (B) the Revolving Loan Commitment shall not be reduced to an amount less than the amount of the Revolving Loan outstanding, and (C) after giving effect to such reductions, Borrower shall comply with Section 1.3

Appears in 1 contract

Samples: Credit Agreement (Navarre Corp /Mn/)

AutoNDA by SimpleDocs

Voluntary Prepayments; Reductions in Revolving Loan Commitments. Borrower may at any time on at least five ten (510) days’ prior written notice to Agent (i) voluntarily prepay all or part of the Term Loan Band/or (ii) permanently reduce (but not terminate) the Revolving Loan Commitment; provided provided, that (A) any such prepayments or reductions of the Term Loan shall be in a minimum amount of $1,000,000 and integral multiples of $250,000 in excess of such amount and any such prepayments or reductions of the Revolver Loan Commitment shall be in a minimum amount of $5,000,000 and integral multiples of $250,000 in excess of such amount. In addition, Borrower may at any time on at least 5 days’ prior written notice to Agent permanently reduce (but not terminate) the Revolving Loan Commitment; provided that (A) any such reductions shall be in a minimum amount of $3,000,000 and integral multiples of $250,000 1,000,000 in excess of such amount, (B) the Revolving Loan Commitment shall not be reduced to an amount less than the greater of (x) $30,000,000 and (y) the amount of the Revolving Loan then outstanding, and (C) after giving effect to such reductions, Borrower shall comply with Section 1.3

Appears in 1 contract

Samples: Credit Agreement (Applied Extrusion Technologies Inc /De)

Voluntary Prepayments; Reductions in Revolving Loan Commitments. Borrower may at any time on at least five three (53) days’ prior written notice to Agent (i) voluntarily prepay all or part of the Term Loan B; provided that any such prepayments shall be in a minimum amount of $5,000,000 and integral multiples of $250,000 in excess of such amount. In addition, Borrower may at any time on at least 5 days’ prior written notice to Agent and/or (ii) permanently reduce (but not terminate) the Revolving Loan Commitment; provided that (A) any such prepayments or reductions shall be in a minimum amount of $3,000,000 500,000 and integral multiples of $250,000 100,000 in excess of such amount, (B) the Revolving Loan Commitment shall not be reduced pursuant to this sentence to an amount less than the amount of the Revolving Loan outstanding, $30,000,000 and (C) after giving effect to such reductions, Borrower shall comply with Section 1.3

Appears in 1 contract

Samples: Credit Agreement (RBC Bearings INC)

AutoNDA by SimpleDocs

Voluntary Prepayments; Reductions in Revolving Loan Commitments. Borrower may at any time on at least five three (53) days’ prior written notice to Agent (i) voluntarily prepay all or part of the Term Loan B; provided that any such prepayments shall be in a minimum amount of $5,000,000 and integral multiples of $250,000 in excess of such amount. In addition, Borrower may at any time on at least 5 days’ prior written notice to Agent and/or (ii) permanently reduce (but not terminate) the Revolving Loan CommitmentCommitments; provided provided, that (A) any such prepayments or reductions shall be in a minimum amount of $3,000,000 500,000 and integral multiples of $250,000 100,000 in excess of such amount, (B) the Revolving Loan Commitment Commitments shall not be reduced to an amount less than the greater of the amount of the Revolving Loans outstanding or $30,000,000; (C) the U.S. Revolving Loan outstanding, Commitment and the Schaublin Revolving Loan Commitment shall be reduced pro rata; and (CD) after giving effect to such reductions, Borrower shall comply with Section 1.3

Appears in 1 contract

Samples: Credit Agreement (Roller Bearing Co of America Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.