Common use of Voluntary Termination of Unutilized Commitments Clause in Contracts

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days’ prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company shall have the right, at any time or from time to time, without premium or penalty to terminate the Total Unutilized Revolving Loan Commitment in whole, or reduce it in part, pursuant to this Section 4.02(a), in an integral multiple of $1,000,000 in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each Lender.

Appears in 4 contracts

Samples: Credit Agreement (Mobile Mini Inc), Credit Agreement (Mobile Mini Inc), Credit Agreement (Mobile Mini Inc)

AutoNDA by SimpleDocs

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days’ Day’s prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, whole or reduce it in part, pursuant to this Section 4.02(a), in an integral multiple multiples of $1,000,000 in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; thereto, provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each Lender.

Appears in 2 contracts

Samples: Credit Agreement (Trico Marine Services Inc), Credit Agreement (Trico Marine Services Inc)

Voluntary Termination of Unutilized Commitments. (a) Upon at least three five Business Days’ Day's prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the LendersBanks), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, whole or reduce it in part, pursuant to this Section 4.02(a)3.02, in an integral multiple of $1,000,000 5,000,000, in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; , provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each LenderBank.

Appears in 2 contracts

Samples: Pledge Agreement (Pool Energy Services Co), Credit Agreement (Pool Energy Services Co)

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days’ Day's prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, whole or reduce it in part, pursuant to this Section 4.02(a)3.02, in an integral multiple a minimum amount of $1,000,000 and, in excess thereof, in integral multiples of $100,000 in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; , provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each Lender.

Appears in 1 contract

Samples: Hanger Orthopedic Group Inc

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days’ prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty to terminate the Total Unutilized Revolving Loan Commitment in whole, or reduce it in part, pursuant to this Section 4.02(a), in an integral multiple of $1,000,000 in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; , provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each RL Lender.

Appears in 1 contract

Samples: Credit Agreement (Information Services Group Inc.)

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days’ Day’s prior written notice to the Administrative Agent at the its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate or reduce the Total Unutilized Term Loan Commitment or Revolving Loan Commitment Commitment, in whole, whole or reduce it in part, pursuant to this Section 4.02(a), in an integral multiple multiples of $1,000,000 in the case of partial reductions to the Total Unutilized Term Loan Commitment and/or the Revolving Loan Commitment; , provided that each such reduction shall apply proportionately to permanently reduce the Term Loan Commitment or Revolving Loan Commitment Commitment, as the case may be, of each Lender.

Appears in 1 contract

Samples: Credit Agreement (General Maritime Corp / MI)

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days’ Day’s prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company Borrowers shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, whole or reduce it in part, pursuant to this Section 4.02(a3.02(a), in an integral multiple multiples of $1,000,000 in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; thereto, provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each Lender.

Appears in 1 contract

Samples: Credit Agreement (Trico Marine Services Inc)

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days' prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment in whole, or reduce it in part, pursuant to this Section 4.02(a3.02(a), in an integral multiple of $1,000,000 5,000,000 in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; , provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each Lender.

Appears in 1 contract

Samples: Credit Agreement (Trizec Properties Inc)

Voluntary Termination of Unutilized Commitments. (a) Upon at least three (3) Business Days' prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, whole or reduce it in part, pursuant to this Section 4.02(a2.02(a), in an integral multiple of $1,000,000 in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; , provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each Lender.

Appears in 1 contract

Samples: Credit Agreement (Weblink Wireless Inc)

Voluntary Termination of Unutilized Commitments. (a) Upon at least three one Business Days’ Day's prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company Borrowers shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, whole or reduce it in part, pursuant to this Section 4.02(a3.02(a), in an integral multiple of $1,000,000 in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; , provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each Lender.

Appears in 1 contract

Samples: Pledge Agreement (Sitel Corp)

AutoNDA by SimpleDocs

Voluntary Termination of Unutilized Commitments. (a) Upon at least three one Business Days’ Day's prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the LendersBanks), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, whole or reduce it in part, pursuant to this Section 4.02(a3.02(a), in an integral multiple of $1,000,000 1,000,000, in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; , provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each LenderBank.

Appears in 1 contract

Samples: Sitel Corp

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days15 days’ prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company shall have the right, at any time or from time to time, without premium or penalty to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, or reduce it each in part, pursuant to this Section 4.02(a)4.02, in an integral multiple minimum amounts of $5,000,000 plus $1,000,000 increments in the case of partial reductions to the Total Unutilized Revolving Loan Commitmentexcess thereof; provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each LenderLender in accordance with their respective RL Percentages of the Total Revolving Loan Commitment.

Appears in 1 contract

Samples: Abl Credit Agreement (Affinia Group Intermediate Holdings Inc.)

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days’ prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, each case in whole or reduce it in part, pursuant to this Section 4.02(a), in an integral multiple multiples of $1,000,000 5,000,000 in the case of partial reductions to reductions, provided that each such reduction of the Total Unutilized Revolving Loan Commitment; provided that each such reduction Commitment shall apply proportionately to permanently reduce the Revolving Loan Commitment of each LenderLender with such a Commitment.

Appears in 1 contract

Samples: Credit Agreement (Trizec Properties Inc)

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days’ Day’s prior written notice to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Revolving Credit Lenders), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, whole or reduce it in part, pursuant to this Section 4.02(a)3.02, in an integral multiple a minimum amount of $1,000,000 and, in excess thereof, in integral multiples of $100,000 in the case of partial reductions to the Total Unutilized Revolving Loan Commitment; , provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each Revolving Credit Lender.

Appears in 1 contract

Samples: Credit Agreement (Hanger Orthopedic Group Inc)

Voluntary Termination of Unutilized Commitments. (a) Upon at least three Business Days’ prior written notice to the Administrative Agent at the its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the US Company Borrower shall have the right, at any time or from time to time, without premium or penalty penalty, to terminate the Total Unutilized Revolving Loan Commitment Commitment, in whole, whole or reduce it in part, pursuant to this Section 4.02(a), in an aggregate principal amount of at least $5,000,000 and in integral multiple multiples of $1,000,000 in the case of any partial reductions to the Total Unutilized Revolving Loan Commitment; in excess of $5,000,000, provided that each such reduction shall apply proportionately to permanently reduce the Revolving Loan Commitment of each Lender.

Appears in 1 contract

Samples: Credit Agreement (Todco)

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