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 Administrative 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 $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 aggregate principal amount of the Competitive Bid Advances then outstanding.

Appears in 2 contracts

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

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the LendersLenders prior to the date of the Advances, provided that each partial reduction shall be in the aggregate amount of $25,000,000 US$1,000,000 or an integral multiple of $US$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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 2 contracts

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

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $25,000,000 20,000,000 or an integral multiple of $1,000,000 5,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 2 contracts

Sources: Credit Agreement (National Grid Transco PLC), Credit Agreement (New England Electric System)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction of the Total Commitment shall be in the aggregate amount of $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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 2 contracts

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

Termination or Reduction of the Commitments. The Borrower shall have the rightmay, upon at least three five Business Days' notice to the Administrative AgentLender, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the LendersUnused Commitment; provided, provided however, that each such partial reduction shall be in the an aggregate amount of $25,000,000 1,000,000 or an integral multiple of $1,000,000 100,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Credit Agreement (Komag Inc /De/)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $25,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Credit Agreement (Beckman Coulter 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 Administrative AgentAgent (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 $25,000,000 15,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Revolving Credit Agreement (Ambac Financial Group Inc)

Termination or Reduction of the Commitments. The (a) 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $25,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that thereof. (b) All unused Commitments shall automatically terminate after the aggregate amount of Advances are made on the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Competitive Bid Advances then outstandingEffective Date.

Appears in 1 contract

Sources: 364 Day Term Loan Credit Agreement (Eastman Chemical Co)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments Commitment of the Lenders, provided that each partial reduction shall be in the aggregate amount of $25,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that shall first permanently reduce the aggregate amount Commitment of BBVASA and then the Commitments Commitment of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Competitive Bid Advances then outstandingBBVAPR.

Appears in 1 contract

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

Termination or Reduction of the Commitments. The Subject to the approval of the Required Lenders, the Borrower shall have the right, upon at least three five Business Days' notice to the Administrative AgentLender, to terminate in whole or reduce ratably in part the unused portions portion of the respective Commitments of the LendersCommitment, provided that each partial reduction shall be in the aggregate minimum amount of $25,000,000 250,000 or an integral multiple of a $1,000,000 50,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Credit Agreement (American Safety Razor Co)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, Unused Commitments; provided that each partial reduction shall be in the aggregate amount of $25,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: 364 Day 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 Administrative Agent, to terminate in whole or permanently reduce ratably in part the unused portions of the respective Unused Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $25,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Credit Agreement (Bausch & Lomb Inc)

Termination or Reduction of the Commitments. 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 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 $25,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Credit Agreement (Royal Caribbean Cruises LTD)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Backstop Credit Agreement (United Parcel Service Inc)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, ; provided that each partial reduction shall be in the aggregate amount of $25,000,000 5,000,000 or in an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount thereof. Each such notice of the Commitments of the Lenders termination or reduction shall not be reduced to an amount that is less than the aggregate principal amount of the Competitive Bid Advances then outstandingirrevocable.

Appears in 1 contract

Sources: Credit Agreement (Jersey Central Power & Light Co)

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 Administrative AgentAgent (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 $25,000,000 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 may not be reduced to an amount that is less than the aggregate principal amount of the Competitive Bid Advances then outstandingreinstated, except as provided in Section 2.16 or 2.17.

Appears in 1 contract

Sources: Revolving 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 Administrative 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 $25,000,000 1,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Revolving 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 to the Administrative Agent, to irrevocably terminate in whole or reduce ratably in part the unused portions of the respective aggregate Unused Commitments of the Lenders, ; provided that each partial reduction shall be in the aggregate amount of $25,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that or, if less, the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Competitive Bid Advances then outstandingat such time.

Appears in 1 contract

Sources: Credit Agreement (Black & Decker Corp)

Termination or Reduction of the Commitments. 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 unused portions of the respective aggregate Unused Commitments of the Lenders, ; provided that each partial reduction shall be in the an aggregate amount of $25,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that or, if less, the aggregate amount of the all Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Competitive Bid Advances then outstandingat such time.

Appears in 1 contract

Sources: Credit Agreement (True North Communications Inc)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction -------- shall be in the aggregate amount of $25,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Revolving Credit Agreement (Ambac Financial Group Inc)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $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 aggregate principal amount of the Competitive Bid Advances then outstanding.

Appears in 1 contract

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

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction (i) shall be in the aggregate amount of $25,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) shall be made ratably among the Appropriate Lenders in accordance with their Commitments with respect to such Facility, and provided further that the aggregate amount of the Commitments of the Lenders shall not be reduced after giving effect to an amount that is less than the aggregate principal amount of the Competitive Bid Advances then outstanding.any such reduction, the

Appears in 1 contract

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

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $25,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Credit Agreement (Puerto Rico Telephone Co Inc)

Termination or Reduction of the Commitments. The Borrower shall have the rightmay, upon at least three five Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the LendersUnused Commitments; provided, provided however, that each partial reduction of the Unused Commitments (i) shall be in the an aggregate amount of $25,000,000 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 (ii) shall be made ratably among the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Competitive Bid Advances then outstandingin accordance with their Commitments.

Appears in 1 contract

Sources: Senior Subordinated Credit Agreement (East Coast Power LLC)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $25,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Credit Agreement (Polyone Corp)

Termination or Reduction of the Commitments. 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 unused portions of the respective Commitments of the Lenders, provided that each partial reduction of the Total Commitment shall be in the aggregate amount of $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 aggregate principal amount of the Competitive Bid Advances then outstanding.thereof. 91839933_4

Appears in 1 contract

Sources: Credit Agreement (Invesco Ltd.)

Termination or Reduction of the Commitments. The Borrower shall have the right, upon at least three five Business Days' notice to the Administrative AgentLender, to terminate in whole or reduce ratably in part the unused portions portion of the respective Commitments of the LendersCommitment, provided that each partial reduction shall be in the aggregate minimum amount of $25,000,000 250,000 or an integral multiple of a $1,000,000 100,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: Credit Agreement (Desa Holdings Corp)

Termination or Reduction of the Commitments. 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 unused portions Unused 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 the respective Commitments Credit Commitment of the Lenders, such Issuing Bank; provided that each partial reduction shall be in the aggregate amount of $25,000,000 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 aggregate principal amount of the Competitive Bid Advances then outstandingthereof.

Appears in 1 contract

Sources: 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 Administrative Agent, to permanently terminate in whole or permanently reduce ratably in part the unused portions of the respective Commitments Commitment of the Lenders, provided that each partial reduction shall be in the aggregate amount of $25,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that the aggregate amount of shall permanently reduce the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Competitive Bid Advances then outstandingon a pro-rata basis.

Appears in 1 contract

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