Common use of Termination or Reduction of the Commitments Clause in Contracts

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reduction.

Appears in 7 contracts

Samples: Credit Agreement (Southwestern Electric Power Co), Credit Agreement (Southwestern Electric Power Co), Credit Agreement (Southwestern Electric Power Co)

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Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the aggregate Outstanding Credits on the date of such termination or reduction.

Appears in 5 contracts

Samples: Credit Agreement (Ohio Power Co), Credit Agreement (Ohio Power Co), Credit Agreement (Ohio Power Co)

Termination or Reduction of the Commitments. (a) The Prior to the Closing Date, the Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available CommitmentsCommitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 4 contracts

Samples: Credit Agreement (Eastman Chemical Co), Credit Agreement (Eastman Chemical Co), Credit Agreement (Eastman Chemical Co)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction of the Total Commitment shall be in a minimum the aggregate amount of $5,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 4 contracts

Samples: Credit Agreement (Invesco Ltd.), Credit Agreement (Invesco Ltd.), Credit Agreement (Invesco Ltd.)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three 10 Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, unused portions of the respective Commitments of the Lenders; provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 3,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 2 contracts

Samples: Credit Agreement (Diveo Broadband Networks Inc), Credit Agreement (Diveo Broadband Networks Inc)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc), Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc)

Termination or Reduction of the Commitments. (a) The Borrower Borrowers shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction of the Total Commitment shall be in a minimum the aggregate amount of $5,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 2 contracts

Samples: Credit Agreement (Invesco Ltd.), Credit Agreement (Invesco Ltd.)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three five Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available CommitmentsCommitments of the Lenders prior to the date of the Advances, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 US$1,000,000 or an integral multiple of $US$1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 2 contracts

Samples: Credit Agreement (Macquarie Infrastructure CO Trust), Credit Agreement (Macquarie Infrastructure CO Trust)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc), Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc)

Termination or Reduction of the Commitments. (a) The Borrower Borrowers shall have the right, upon at least three Business Days' notice to the Administrative Agent, to irrevocably terminate in whole or reduce ratably in part the Available Commitments, aggregate Unused Commitments of the Lenders; provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce or, if less, the aggregate amount of the Revolving Credit Commitments to an amount less than the Outstanding Credits on the date of at such termination or reductiontime.

Appears in 2 contracts

Samples: Credit Agreement (Black & Decker Corp), Credit Agreement (Black & Decker Corp)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reduction.

Appears in 2 contracts

Samples: Credit Agreement (American Electric Power Co Inc), Credit Agreement (American Electric Power Co Inc)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made provided further that would reduce the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the Outstanding Credits on aggregate principal amount of the date of such termination or reductionCompetitive Bid Advances then outstanding.

Appears in 2 contracts

Samples: Credit Agreement (United Parcel Service Inc), Credit Agreement (United Parcel Service Inc)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce occur during the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionDraw Period.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three five Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, unused portions of the respective Commitments of the Lenders; provided that each partial reduction (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce ratably among the aggregate Lenders in accordance with their Commitments with respect to an amount less than the Outstanding Credits on the date of such termination or reductionFacility. Any Commitments terminated under this Section 2.05 may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Qualcomm Inc/De)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 20,000,000 or an integral multiple of $1,000,000 5,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof. SECTION 2.05.

Appears in 1 contract

Samples: Credit Agreement (National Grid Transco PLC)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Available CommitmentsUnused Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Year Credit Agreement (Bausch & Lomb Inc)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Available CommitmentsUnused Commitments or the Unissued Letter of Credit Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Credit Agreement (Royal Caribbean Cruises LTD)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction thereof. The aggregate amount of the Commitments shall be made that would reduce the aggregate Commitments automatically reduced to an amount less than the Outstanding Credits zero on the date of such termination Termination Date. The Commitments once terminated or reductionreduced may not be reinstated.

Appears in 1 contract

Samples: Revolving Credit Agreement (Telecomunicaciones De Puerto Rico Inc)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three (3) Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Available CommitmentsUnused Commitments of the Lenders; provided, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 25.0 million or an integral multiple of $1,000,000 5.0 million in excess thereof and (ii) no thereof; provided, further, that any such termination notice may state that such notice is conditioned upon the effectiveness of other credit facilities or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date consummation of such termination or reductiona specific transaction.

Appears in 1 contract

Samples: Credit Agreement (Twenty-First Century Fox, Inc.)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, (i) upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available CommitmentsUnused Revolving Credit Commitments and (ii) subject to the relevant Issuing Bank Agreement, upon notice on any Business Day to the Agent and an Issuing Bank, to terminate in whole or in part the Letter of Credit Commitment of such Issuing Bank; provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Year Credit Agreement (Mirant Corp)

Termination or Reduction of the Commitments. (a) The Prior to the Effective Date, the Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available CommitmentsCommitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Assignment and Assumption (Eastman Chemical Co)

Termination or Reduction of the Commitments. (a) The Borrower Borrowers shall have the right, upon at least three Business Days' notice to the Administrative Agent, to irrevocably terminate in whole or reduce ratably in part the Available Commitments, aggregate Unused Commitments of the Lenders; provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce or, if less, the aggregate amount of the Commitments to an amount less than the Outstanding Credits on the date of at such termination or reductiontime.

Appears in 1 contract

Samples: Credit Agreement (Black & Decker Corp)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to permanently terminate in whole or permanently reduce ratably in part the Available Commitmentsunused portions of the respective Commitment of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would permanently reduce the aggregate Commitments to an amount less than of the Outstanding Credits Lenders on the date of such termination or reductiona pro-rata basis.

Appears in 1 contract

Samples: Term Credit Agreement (Telecomunicaciones De Puerto Rico Inc)

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Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that each partial reduction (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facility, and provided further that would reduce the aggregate Commitments after giving effect to an amount less than the Outstanding Credits on the date of any such termination or reduction., the

Appears in 1 contract

Samples: Credit Agreement (Warnaco Group Inc /De/)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or permanently reduce ratably in part the Available CommitmentsUnused Commitments of the Lenders; provided, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 25.0 million or an integral multiple of $1,000,000 5.0 million in excess thereof and (ii) no thereof; provided, further, that any such termination notice may state that such notice is conditioned upon the effectiveness of other credit facilities or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date consummation of such termination or reductiona specific transaction.

Appears in 1 contract

Samples: Credit Agreement (Fox Corp)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Unused Commitments, ; provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Day Credit Agreement (Mirant Corp)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Term Credit Agreement (Southwestern Electric Power Co)

Termination or Reduction of the Commitments. (a) The Borrower Borrowers shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to irrevocably terminate in whole or reduce ratably in part the Available Commitments, aggregate Unused Commitments of the Lenders; provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce or, if less, the aggregate amount of the Revolving Credit Commitments to an amount less than the Outstanding Credits on the date of at such termination or reductiontime.

Appears in 1 contract

Samples: Year Credit Agreement (Black & Decker Corp)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or or, upon same day notice, from time to time to permanently reduce ratably in part the Available Commitments, unused portions of the respective Commitments of the Lenders; provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 or in an integral multiple of $1,000,000 in excess thereof and (ii) no thereof. Each such notice of termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionirrevocable.

Appears in 1 contract

Samples: Year Credit Agreement (Jersey Central Power & Light Co)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits Advances on the date of such termination or reduction.

Appears in 1 contract

Samples: Credit Agreement (Southwestern Electric Power Co)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to permanently terminate in whole or permanently reduce ratably in part the Available Commitmentsrespective Commitment of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would first permanently reduce the aggregate Commitments to an amount less than Commitment of BBVASA and then the Outstanding Credits on the date Commitment of such termination or reductionBBVAPR.

Appears in 1 contract

Samples: Term Credit Agreement (Telecomunicaciones De Puerto Rico Inc)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three four Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made provided further that would reduce the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the Outstanding Credits on aggregate principal amount of the date of such termination or reductionCompetitive Bid Advances then outstanding.

Appears in 1 contract

Samples: Credit Agreement (United Parcel Service of America Inc)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Credit Agreement (Puerto Rico Telephone Co Inc)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 20,000,000 or an integral multiple of $1,000,000 5,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Credit Agreement (New England Electric System)

Termination or Reduction of the Commitments. (a) The Borrower Borrowers shall have the right, upon at least three Business Days’ notice signed by both Borrowers to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 1,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Credit Agreement (Ambac Financial Group Inc)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part part, in each case permanently, the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount which is less than the aggregate amount of the A Advances and the B Advances then outstanding and provided further that each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reduction.in

Appears in 1 contract

Samples: Credit Agreement (Corn Products International Inc)

Termination or Reduction of the Commitments. (a) The Borrower shall have the rightright at any time, upon at least three Business Days’ prior written notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available CommitmentsCommitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Term Credit Agreement (Ovintiv Inc.)

Termination or Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitmentsunused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum the aggregate amount of $5,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reductionthereof.

Appears in 1 contract

Samples: Backstop Credit Agreement (United Parcel Service Inc)

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