Common use of Voluntary Termination of the Total Revolving Commitment Clause in Contracts

Voluntary Termination of the Total Revolving Commitment. Upon at least two (2) Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Day) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the occurrence of any other event and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right to terminate in whole the Total Revolving Commitment; provided that (i) all outstanding Revolving Loans and Unpaid Drawings are contemporaneously prepaid in accordance with Section 2.15 and (ii) either (A) there are no outstanding Letters of Credit or (B) the Borrower shall contemporaneously cause all outstanding Letters of Credit to be surrendered for cancellation (any such Letters of Credit to be replaced by letters of credit issued by other financial institutions (which are not LC Issuers under this Agreement) acceptable to each LC Issuer and the Revolving Lenders) or shall Cash Collateralize all LC Outstandings.

Appears in 8 contracts

Samples: Abl Credit Agreement (Builders FirstSource, Inc.), Credit Agreement (Builders FirstSource, Inc.), Credit Agreement (Builders FirstSource, Inc.)

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Voluntary Termination of the Total Revolving Commitment. Upon at least two one (21) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the occurrence of any other event and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to terminate in whole the Total Revolving Commitment; , provided that (i) all outstanding Revolving Loans and Unpaid Drawings are contemporaneously prepaid in accordance with Section 2.15 and (ii) either (A) there are no outstanding Letters of Credit or (B) the Borrower Borrowers shall contemporaneously cause all outstanding Letters of Credit to be surrendered for cancellation (any such Letters of Credit to be replaced by letters of credit issued by other financial institutions (which are not LC Issuers under this Agreement) acceptable to each LC Issuer and the Revolving Lenders) or shall Cash Collateralize all LC Outstandings.

Appears in 1 contract

Samples: Credit Agreement (PGT, Inc.)

Voluntary Termination of the Total Revolving Commitment. Upon at least two three (23) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the occurrence of any other event and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to terminate in whole the Total Revolving Commitment; , provided that (i) all outstanding Revolving Loans and Unpaid Drawings are contemporaneously prepaid in accordance with Section 2.15 2.13 and (ii) either (A) there are no outstanding Letters of Credit or (B) the Borrower Borrowers shall contemporaneously cause all outstanding Letters of Credit to be surrendered for cancellation (any such Letters of Credit to be replaced by letters of credit issued by other financial institutions (which are not LC Issuers under this Agreement) acceptable to each LC Issuer and the Revolving Lenders) or shall Cash Collateralize all LC Outstandings.

Appears in 1 contract

Samples: Credit Agreement (PGT, Inc.)

Voluntary Termination of the Total Revolving Commitment. Upon at least two one (21) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the occurrence of any other event and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to terminate in whole the Total Revolving Commitment; , provided that (i) all outstanding Revolving Loans and Unpaid Drawings are contemporaneously prepaid in accordance with Section 2.15 (and any outstanding B/As are cash collateralized in accordance with Section 2.07(l)) and (ii) either (A) there are no outstanding Letters of Credit or (B) the Borrower Borrowers shall contemporaneously cause all outstanding Letters of Credit to be surrendered for cancellation (any such Letters of Credit to be replaced by letters of credit issued by other financial institutions (which are not LC Issuers under this Agreement) acceptable to each LC Issuer and the Revolving Lenders) or shall Cash Collateralize all LC Outstandings.

Appears in 1 contract

Samples: Credit Agreement (Patheon Holdings Cooperatief U.A.)

Voluntary Termination of the Total Revolving Commitment. Upon at least two three (23) Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the occurrence of any other event and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to terminate in whole the Total Revolving Commitment; provided that (i) all outstanding Revolving Loans, Swing Loans and Unpaid Drawings are contemporaneously prepaid in accordance with Section 2.15 2.13 and (ii) either (A) there are no outstanding Letters of Credit or (B) the Borrower Borrowers (x) shall contemporaneously cause all outstanding Letters of Credit to be surrendered for cancellation (any such Letters of Credit to be replaced by letters of credit issued by other financial institutions (which are not LC Issuers under this Agreement) acceptable to each LC Issuer and the Revolving Lenders) or backstopped on terms reasonably satisfactory to the applicable LC Issuers or (y) shall Cash Collateralize all LC Outstandings.

Appears in 1 contract

Samples: Credit Agreement (PGT Innovations, Inc.)

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Voluntary Termination of the Total Revolving Commitment. Upon at least two one (21) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion shall agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon on the occurrence of any other event and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to terminate in whole the Total Revolving Commitment; , provided that (i) all outstanding Revolving Loans and Unpaid Drawings are contemporaneously prepaid in accordance with Section 2.15 and (ii) either (A) there are no outstanding Letters of Credit or (B) the Borrower Borrowers shall contemporaneously cause all outstanding Letters of Credit to be surrendered for cancellation (any such Letters of Credit to be replaced by letters of credit issued by other financial institutions (which are not LC Issuers under this Agreement) acceptable to each LC Issuer and the Revolving Lenders) or shall Cash Collateralize all LC Outstandings.

Appears in 1 contract

Samples: Credit Agreement (JGWPT Holdings Inc.)

Voluntary Termination of the Total Revolving Commitment. Upon at least two (2) one Business Days’ (or such shorter period as the Administrative Agent may in its discretion agree) Day’s prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the occurrence of any other event and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to terminate in whole the Total Revolving Commitment; , provided that (i) all outstanding Revolving Loans and Unpaid Drawings are contemporaneously prepaid in accordance with Section 2.15 (and any outstanding B/As are cash collateralized in accordance with Section 2.07(l)) and (ii) either (A) there are no outstanding Letters of Credit or (B) the Borrower Borrowers shall contemporaneously cause all outstanding Letters of Credit to be surrendered for cancellation (any such Letters of Credit to be replaced by letters of credit issued by other financial institutions (which are not LC Issuers under this Agreement) acceptable to each LC Issuer and the Revolving Lenders) or shall Cash Collateralize all LC Outstandings.

Appears in 1 contract

Samples: Credit Agreement (Patheon Inc)

Voluntary Termination of the Total Revolving Commitment. Upon at least two three (23) Business Days’ Day’s (or such shorter period as the Administrative Agent may in its discretion agree) prior written notice (or telephonic notice confirmed in writing within one (1) Business Daywriting) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the occurrence of any other event and which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower Borrowers shall have the right to terminate in whole the Total Revolving Commitment; , provided that (i) all outstanding Revolving Loans, Swing Loans and Unpaid Drawings are contemporaneously prepaid in accordance with Section 2.15 2.13 and (ii) either (A) there are no outstanding Letters of Credit or (B) the Borrower Borrowers shall contemporaneously cause all outstanding Letters of Credit to be surrendered for cancellation (any such Letters of Credit to be replaced by letters of credit issued by other financial institutions (which are not LC Issuers under this Agreement) acceptable to each LC Issuer and the Revolving Lenders) or shall Cash Collateralize all LC Outstandings.

Appears in 1 contract

Samples: Credit Agreement (PGT, Inc.)

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