Common use of Reduction of Commitments Clause in Contracts

Reduction of Commitments. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders, in an aggregate minimum amount of $5,000,000 and integral multiples of $5,000,000 in excess of that amount (unless the Aggregate Commitment is reduced in whole), upon at least three (3) Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction; PROVIDED, HOWEVER, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Revolving Credit Obligations. All accrued commitment fees shall be payable on the effective date of any partial or complete termination of the obligations of the Lenders to make Revolving Loans hereunder.

Appears in 4 contracts

Samples: Credit Agreement (Homeusa Inc), Credit Agreement (Metals Usa Inc), Credit Agreement (Transportation Components Inc)

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Reduction of Commitments. The Borrower may permanently reduce the Aggregate Revolving Loan Commitment in whole, or in part ratably among the Lenders, in an aggregate minimum amount of $5,000,000 with respect thereto and integral multiples of $5,000,000 1,000,000 in excess of that amount with respect thereto (unless the Aggregate Revolving Loan Commitment is reduced in whole), upon at least three (3) Business Days' Day’s prior written notice to the AgentLender, which notice shall specify the amount of any such reduction; PROVIDEDprovided, HOWEVERhowever, that the amount of the Aggregate Revolving Loan Commitment may not be reduced below the aggregate principal amount Dollar Amount of the outstanding Revolving Credit Obligations. All accrued commitment facility fees shall be payable on the effective date of any partial or complete termination of the obligations of the Lenders Lender to make Revolving Loans hereunder.

Appears in 2 contracts

Samples: Assignment and Assumption Agreement (Quixote Corp), Subsidiary Stock Pledge Agreement (Quixote Corp)

Reduction of Commitments. The Borrower may permanently reduce the Aggregate Revolving Loan Commitment in whole, or in part ratably among the Lenders, in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $5,000,000 250,000 in excess of that amount (unless the Aggregate Commitment is reduced in whole)amount, upon at least three (3) Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction; PROVIDEDprovided, HOWEVERhowever, that the amount of the Aggregate Revolving Loan Commitment may not be reduced below the aggregate principal amount of the outstanding Revolving Credit Obligations. All accrued commitment fees shall be payable on the effective date of any partial or complete termination of the obligations of the Lenders to make Revolving Loans hereunder.

Appears in 2 contracts

Samples: Credit Agreement (SCP Pool Corp), Credit Agreement (SCP Pool Corp)

Reduction of Commitments. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders, in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $5,000,000 1,000,000 in excess of that amount (unless the Aggregate Commitment is reduced in whole)amount, upon at least three (3) five Business Days' prior written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; PROVIDEDprovided, HOWEVERhowever, that the amount of the Aggregate Commitment may not be reduced below the sum of the aggregate principal amount of the outstanding Revolving Credit ObligationsAdvances and the aggregate outstanding L/C Obligations and Swing Line Loans. All accrued commitment fees shall be payable on the effective date of any partial or complete termination of the obligations of the Lenders to make Revolving Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Wabash National Corp /De)

Reduction of Commitments. The Borrower may permanently reduce the Aggregate Revolving Loan Commitment in whole, or in part ratably among the Lenders, in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $5,000,000 100,000 in excess of that amount (unless the Aggregate Revolving Loan Commitment is reduced in whole), upon at least three (3) one Business Days' Day's written notice to the Agent, which notice shall specify the amount of any such reduction; PROVIDEDprovided, HOWEVERhowever, that the amount of the Aggregate Revolving Loan Commitment may not be reduced below the aggregate principal amount of the outstanding Revolving Credit Obligations. All accrued commitment fees shall be payable on the effective date of any partial or complete termination of the obligations of the Lenders to make Revolving Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Binks Sames Corp)

Reduction of Commitments. The Borrower may permanently reduce the Aggregate Revolving Loan Commitment in whole, or in part ratably among the Lenders, in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $5,000,000 1,000,000 in excess of that amount (unless the Aggregate Revolving Loan Commitment is reduced in whole), upon at least three (3) five Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction; PROVIDEDprovided, HOWEVERhowever, that the amount of the Aggregate Revolving Loan Commitment may not be reduced below the aggregate principal amount of the outstanding Revolving Credit Obligations. All accrued commitment fees shall be payable on the effective date of any partial or complete termination of the obligations of the Lenders to make Revolving Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Printpack Inc)

Reduction of Commitments. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders, in an aggregate minimum amount of $5,000,000 and integral multiples of $5,000,000 in excess of that amount (unless the Aggregate Commitment is reduced in whole), upon at least three (3) Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction; PROVIDED, HOWEVER, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Revolving Credit Obligations. All accrued commitment fees shall be payable on the 397909 Execution Copy 25 effective date of any partial or complete termination of the obligations of the Lenders to make Revolving Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Metals Usa Inc)

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Reduction of Commitments. The Borrower may permanently reduce the Aggregate Revolving Loan Commitment in whole, or in part ratably among the Lenderspart, in an aggregate minimum amount of $5,000,000 1,000,000 and integral multiples of $5,000,000 100,000 in excess of that amount (unless the Aggregate Revolving Loan Commitment is reduced in whole), upon at least three (3) one Business Days' Day's written notice to the AgentLender, which notice shall specify the amount of any such reduction; PROVIDEDprovided, HOWEVERhowever, that the amount of the Aggregate Revolving Loan Commitment may not be reduced below the aggregate principal amount of the outstanding Revolving Credit Obligations. All accrued commitment fees shall be payable on the effective date of any partial or complete termination of the obligations of the Lenders Lender to make Revolving Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Finishmaster Inc)

Reduction of Commitments. The Borrower Borrowers may permanently reduce the Aggregate Revolving Loan Commitment in whole, or in part ratably among the Lenders, in an aggregate minimum amount of $5,000,000 500,000 and integral multiples of $5,000,000 250,000 in excess of that amount (unless the Aggregate Commitment is reduced in whole)amount, upon at least three (3) one Business Days' Day's prior written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; PROVIDEDprovided, HOWEVERhowever, that the amount of the Aggregate Revolving Loan Commitment may not be reduced below the aggregate principal amount of the outstanding Revolving Credit Obligations. All accrued commitment fees shall be payable on the effective date of any partial or complete termination of the obligations of the Lenders to make Revolving Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Aas Capital Corp)

Reduction of Commitments. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders, in an aggregate minimum amount of $5,000,000 and integral multiples of $5,000,000 in excess of that amount (unless the Aggregate Commitment is reduced in whole), upon at least three (3) Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction; PROVIDEDprovided, HOWEVER, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Revolving Credit Obligations. All accrued commitment fees shall be payable on the effective date of any partial or complete termination of the obligations of the Lenders to make Revolving Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Transportation Components Inc)

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