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

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstated.

Appears in 5 contracts

Samples: Revolving Credit Agreement (Oracle Corp), Day Revolving Credit Agreement (Oracle Corp), Day Revolving Credit Agreement (Oracle Corp)

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Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, ; provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstatedthereof.

Appears in 4 contracts

Samples: Credit Agreement (Mirant Corp), Credit Agreement (Mirant Americas Generating LLC), Credit Agreement (Mirant Corp)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the unused portions Unused Commitments or the Unissued Letter of the respective Credit Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstatedthereof.

Appears in 3 contracts

Samples: Credit Agreement (Sra International Inc), Credit Agreement (Hill-Rom Holdings, Inc.), Credit Agreement (Hillenbrand, Inc.)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstated.

Appears in 2 contracts

Samples: Day Term Loan Agreement (Oracle Corp /De/), Day Term Loan Agreement (Oracle Corp /De/)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the unused portions Unused Commitments or the Unissued Letter of the respective Credit Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstatedthereof.

Appears in 2 contracts

Samples: Credit Agreement (Everest Re Group LTD), Credit Agreement (Everest Re Group LTD)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three (3) Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, ; provided that (a) each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof thereof; and provided further that (b) the aggregate amount of the Commitments of the Lenders all Commitments, upon such reduction, shall not be reduced to an amount that is less than the sum aggregate principal amount of the total Revolving Credit Exposures all Utilizations then outstanding and provided further that once terminated, a Commitment may not be reinstatedoutstanding.

Appears in 2 contracts

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

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or permanently reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstatedthereof.

Appears in 2 contracts

Samples: Credit Agreement (Bausch & Lomb Inc), Credit Agreement (Beckman Coulter Inc)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstatedthereof.

Appears in 1 contract

Samples: Credit Agreement (Beckman Coulter Inc)

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Termination or Reduction of the Commitments. The Borrower Borrowers shall have the right, upon at least three Business Days’ notice signed by both Borrowers to the AgentAdministrative Agent (which shall promptly notify each Lender), to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 15,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of thereof. Once terminated or reduced, the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstated, except as provided in Section 2.16.

Appears in 1 contract

Samples: Credit Agreement (Ambac Financial Group Inc)

Termination or Reduction of the Commitments. The Borrower Borrowers shall have the right, upon at least three Business Days’ notice signed by both Borrowers to the AgentAdministrative Agent (which shall promptly notify each Lender), to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 15,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of thereof. Once terminated or reduced, the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstated, except as provided in Section 2.16 or 2.17.

Appears in 1 contract

Samples: Credit Agreement (Ambac Financial Group Inc)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided PROVIDED that each partial reduction shall be in the aggregate amount of $10,000,000 1,000,000 or an integral multiple of $1,000,000 multiple in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstatedthereof.

Appears in 1 contract

Samples: Credit Agreement (Foundation Health Systems Inc)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $10,000,000 25,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the sum of the total Revolving Credit Exposures then outstanding and provided further that once terminated, a Commitment may not be reinstated.

Appears in 1 contract

Samples: Day Revolving Credit Agreement (Oracle Corp /De/)

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