Common use of Terminations Clause in Contracts

Terminations. The Company shall have the right at any time and from time to time, upon three (3) Business Days' prior notice to the Bank, to terminate without premium or penalty and in whole or in part (but if in part, then in an amount not less than $1,000,000) the Commitment, provided that the Commitment may not be reduced to an amount less than the aggregate principal amount of the Loans and Letters of Credit then outstanding. Any termination of the Commitment pursuant to this Section may not be reinstated.

Appears in 4 contracts

Samples: Credit Agreement (Newport Corp), Credit Agreement (Newport Corp), Newport Corp

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Terminations. The Company shall have the right at any time and from time to time, upon three five (35) Business Days' prior notice to the Bank, to terminate without premium or penalty and in whole or in part (but but, if in part, then in an amount not less than $1,000,000500,000) the Commitment, provided that the Commitment Company may not be reduced to an amount less than the aggregate principal amount terminate any portion of the Loans and Revolving Credit which represents outstanding Loans, Letters of Credit then outstandingor Reimbursement Obligations. Any termination of the Commitment Revolving Credit pursuant to this Section may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Wells Gardner Electronics Corp)

Terminations. The Company shall have the right at any time and from time to time, upon three (3) 3 Business Days' prior notice to the BankAgent (which shall promptly so notify the Lenders), to ratably terminate without premium or penalty and in whole or in part (but if in part, then in an aggregate amount not less than $1,000,000100,000 or such greater amount which is an integral multiple of $100,000) either the CommitmentRevolving Credit Commitments or the Term Credit Commitments, provided that the Commitment Commitments may not be reduced to an amount less than the aggregate principal amount of the Loans and Letters of Credit then outstandingoutstanding thereunder. Any termination of the Commitment Commitments pursuant to this Section may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Rentx Industries Inc)

Terminations. The Company shall have the right at any time and from time to time, upon three (3) 3 Business Days' prior notice to the BankAgent (which shall promptly so notify the Lenders), to ratably terminate without premium or penalty and in whole or in part (but if in part, then in an aggregate amount not less than $1,000,0001,000,000 or such greater amount which is an integral multiple of $500,000) the CommitmentRevolving Credit Commitments; provided, provided however, that the Commitment Revolving Credit Commitments may not be reduced to an amount less than the aggregate principal amount of the Loans and Letters of Credit then outstanding. Any termination of the Commitment pursuant to this Section may not be reinstated.

Appears in 1 contract

Samples: Short Term Credit Agreement (Anicom Inc)

Terminations. The Company shall have the right at any time and from time to time, upon three (3) Business Days' prior notice to the Bank, to terminate without premium or penalty and in whole or in part (but if in part, then in an amount not less than $1,000,00025,000) the Commitment, provided that the Commitment may not be reduced to an amount less than the aggregate principal amount of the Loans and Letters of Credit then outstanding. Any termination of the Commitment pursuant to this Section may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Woodhead Industries Inc)

Terminations. The Company shall have the right at any time and from time to time, upon three five (35) Business Days' prior notice to the Bank, to terminate without premium or penalty and in whole or in part (but if in part, then in an amount not less than $1,000,0002,500,000) the Commitment, provided that the Commitment may not be reduced to an amount less than the aggregate principal amount of the Loans and Letters of Credit then outstanding. Any termination of the Commitment pursuant to this Section may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Woodhead Industries Inc)

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Terminations. The Company shall have the right at any time and from time to time, upon three (3) 1 Business Days' Day's prior notice to the Bank, to terminate without premium or penalty and in whole or in part (but if in part, then in an amount not less than $1,000,000500,000) the Commitment, provided that the Commitment may not be reduced to an amount less than the aggregate principal amount Original Dollar Amount of the Loans and Letters of Credit then outstanding. Any No termination of the Commitment pursuant to this Section may not be reinstated.

Appears in 1 contract

Samples: Guaranty Agreement (Comshare Inc)

Terminations. The Company shall have the right at any time and from time to time, upon three (3) 1 Business Days' Day's prior notice to the Bank, to terminate without premium or penalty and in whole or in part (but if in part, then in an amount not less than $1,000,000500,000) the Commitment, provided that the Commitment may not be reduced to an amount less than the sum of (i) the aggregate principal Original Dollar Amount of Loans outstanding at such time and (ii) the aggregate amount of the Loans and Letters of Credit then outstandingoutstanding at such time. Any No termination of the Commitment pursuant to this Section may not be reinstated.

Appears in 1 contract

Samples: Credit Agreement (Comshare Inc)

Terminations. The Company shall have the right at any time and from time to time, upon three (3) Business Days' prior notice to the Bank, to terminate without premium or penalty and in whole or in part (but if in part, then in an amount not less than $1,000,000500,000) the Revolving Credit Commitment, provided that the Revolving Credit Commitment may not be reduced to an amount less than the aggregate principal amount of the Revolving Credit Loans and Letters of Credit then outstanding. Any termination of the Revolving Credit Commitment pursuant to this Section may not be reinstated.

Appears in 1 contract

Samples: Champion Financial Corp /Md/

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