Mandatory Adjustments of Commitments, etc Sample Clauses
The 'Mandatory Adjustments of Commitments, etc' clause establishes the lender's right or obligation to alter the terms of their financial commitments under certain circumstances. Typically, this clause applies when regulatory changes, legal requirements, or unforeseen events affect the lender's ability to maintain the original terms of a loan or credit facility. For example, if new capital adequacy regulations require the lender to hold more reserves, the lender may adjust the amount available to the borrower or modify repayment terms. The core function of this clause is to ensure that the lender can remain compliant with external requirements and manage risk, even if it means changing the original agreement.
Mandatory Adjustments of Commitments, etc. (a) The Total Revolving Loan Commitment shall terminate on the Revolving Loan Commitment Termination Date.
(b) The Total A Term Loan Commitment shall be reduced (i) on the Closing Date to the amount of A Term Loans then outstanding and (ii) on the date on which any payments of principal on the A Term Loans are made (other than pursuant to Section 3.02(A)(a)) in an aggregate amount equal to such payments.
(c) The Total B Term Loan Commitment shall be reduced (i) on the Closing Date to the amount of B Term Loans then outstanding and (ii) on the date on which any payments of principal on the B Term Loans are made (other than pursuant to Section 3.02(A)(a)) in an aggregate amount equal to such payments.
(d) The Total Acquisition Term Loan Commitment shall be reduced (i) on the Acquisition Term Loan Commitment Termination Date to the amount of Acquisition Term Loans then outstanding and (ii) on the date on which any payments of principal on the Acquisition Term Loans are made (other then pursuant to Section 3.02(A)(a)) in an aggregate amount equal to such payment.
(e) The Total Revolving Loan Commitment and the Maximum Swingline Amount shall be permanently reduced, in each case, in the amount and at the time of any payment on the Loans required to be applied to the Revolving Loans, Swingline Loans, Revolving Loan Commitments or Maximum Swingline Amount or to cash collateralize Letters of Credit or Acceptances pursuant to Section 3.02(B)(a).
(f) Each reduction or termination of the A Term Loan Commitment, the B Term Loan Commitment, Acquisition Term Loan Commitment or the Total Revolving Loan Commitment pursuant to this Section 2.02 shall apply proportionately to the A Term Loan Commitment, the B Term Loan Commitment, Acquisition Term Loan Commitment or the Revolving Loan Commitment, as the case may be, of each Bank.
Mandatory Adjustments of Commitments, etc. (a) Each of the Total Initial B Term Commitment, the Total Delayed-Draw B Term Commitment and the Total Revolving Commitment (and the Initial B Term Commitment, Delayed-Draw B Term Commitment and Revolving Commitment of each Lender with such a Commitment) shall terminate in its entirety on the Expiration Date unless the Initial Borrowing Date has occurred on or before such date.
(b) The Total Initial B Term Commitment (and the Initial B Term Commitment of each Initial B Term Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the making of Initial B Term Loans on such date).
(c) The Total Delayed-Draw B Term Commitment (and the Delayed-Draw B Term Commitment of each Lender with such a Commitment) shall terminate in its entirety (to the extent not theretofore terminated) on the Delayed-Draw B Term Commitment Termination Date (after giving effect to any incurrence of Delayed-Draw B Term Loans on such date).
(d) The Total Delayed-Draw B Term Commitment shall (i) be reduced on each date on which Delayed-Draw B Term Loans are incurred (after giving effect to the making of Delayed-Draw B Term Loans on such date) in an amount equal to the aggregate principal amount of the Delayed-Draw B Term Loans incurred on such date and (ii) prior to the termination of the Total Delayed-Draw B Term Commitment as provided in Section 2.03(c) and preceding clause (i), be reduced on each date on which both (x) no B Term Loans are outstanding (after giving effect to the application on or prior to such date of the provisions of Sections 3.02(A)) and (y) B Term Loans, had there been any still outstanding, would have been required to be repaid pursuant to Sections 3.02(A)(b), (c), (d) or (e), by the amount, if any, by which the amount required to be applied pursuant to said Sections as a result of the events described therein (determined as if an unlimited amount of B Term Loans were actually outstanding) exceeds the aggregate principal amount of B Term Loans being repaid as a result of such events.
(e) The Total Incremental B Term Commitment (and the Incremental B Term Commitment of each Incremental B Term Lender with such a Commitment) pursuant to an Incremental B Term Commitment Agreement shall terminate in its entirety on the related Incremental B Term Loan Borrowing Date therefor (after giving effect to the making of Incremental B Term Loans on such date).
(f) The Total Revolving Commitment (to the extent outstanding) shall be reduced on ...
Mandatory Adjustments of Commitments, etc. (a) The Total Revolving Commitment (and the Revolving Commitment of each Lender) shall terminate on the earlier of (x) the Maturity Date and (y) the date on which a Change of Control occurs.
(b) The Swing Line Commitment shall terminate on the earlier of (x) the Maturity Date and (y) the date on which a Change of Control occurs.
(c) The Total Revolving Commitment shall be permanently reduced, without premium or penalty, at the time that any mandatory prepayment of Revolving Loans would be made pursuant to section 5.2(f), (g), (h) or (i) as if Revolving Loans were then outstanding in the full amount of the Total Revolving Commitment, in an amount equal to the required prepayment of principal of Revolving Loans which would be required to be made in such circumstance; PROVIDED that no such reduction in the Total Revolving Commitment shall be required as a result of any required prepayment of Revolving Loans which would be attributable to the receipt of Net Cash Proceeds representing proceeds of business interruption insurance or insurance on inventory pursuant to section 5.2(h). Any such required reduction shall apply to proportionately and permanently reduce the Revolving Commitment of each of the Lenders. The Borrower will provide at least three Business Days' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), of any reduction of the Total Revolving Commitment pursuant to this section 4.3(c), specifying the date and amount of the reduction.
Mandatory Adjustments of Commitments, etc. (a) The Total ------------------------------------------ Commitment shall terminate on November 30, 1999 if the Initial Borrowing Date has not yet occurred.
(b) The Total A Term Loan Commitment and Total B Term Loan Commitment shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the making of A Term Loans and B Term Loans on such date).
(c) The Total Revolving Commitment (and the Revolving Commitment of each RC Lender) shall terminate in its entirety on the earlier of (i) the Revolving Loan Maturity Date and (ii) unless the Required Lenders otherwise agree, the date on which any Change of Control occurs.
(d) The Total Revolving Commitment shall be reduced at the time of any mandatory repayment of Term Loans pursuant to Section 4.02(A)(d), (e), (f), (g), (h) or (i) if Term Loans were then outstanding, in an amount, if any, by which the amount of such repayment (determined as if an unlimited amount of Term Loans were then outstanding) exceeds the aggregate amount of Term Loans then outstanding.
(e) Each reduction of the Total A Term Loan Commitment, Total B Term Loan Commitment or the Total Revolving Commitment pursuant to this Section 3.03 (or pursuant to Section 4.02) shall apply proportionately to the A Term Commitment, B Term Commitment or the Revolving Commitment, as the case may be, of each Lender with such a Commitment.
Mandatory Adjustments of Commitments, etc. (a) The Total Commitment shall terminate in its entirety on February 27, 1998 unless the Closing Date has occurred on or before such date.
(b) Each of the Total A Term Loan Commitment, the Total B Term Loan Commitment and the Total C Term Loan Commitment shall terminate in its entirety on the Closing Date, after giving effect to the making of the respective Term Loans on such date.
(c) The Total Revolving Credit Commitment (and the Revolving Credit Commitment of each Revolving Lender) shall terminate in their entirety on the earlier of (i) the date on which a Change of Control occurs and (ii) the Revolving Loan Maturity Date.
(d) From and after payment in full of the Term Loans, on each date upon which a mandatory repayment of Term Loans pursuant to Section 4.02.01.(c), (d), (e), (f) or (g) would otherwise be required, the Total Revolving Credit Commitment shall be permanently reduced by the amount, if any, required to be applied pursuant to said Sections.
(e) Each reduction of the Total Revolving Credit Commitment pursuant to this Section 3.03 shall apply proportionately to the Revolving Credit Commitment of each Lender.
Mandatory Adjustments of Commitments, etc. (a) The Total ------------------------------------------ Commitment (and the Term Commitment and Revolving Commitment of each Bank and the Swingline Commitment) shall terminate on the Expiration Date unless the Initial Borrowing Date has occurred on or before such date.
(b) The Total Term Commitment shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the making of Term Loans on such date).
(c) The Total Revolving Commitment shall be reduced in an amount of $3,125,000 on each of the last Business Day of each March, June, September and December of each year commencing June 1998 (each such reduction, a "Scheduled RF Reduction").
(d) On each day on which (x) the Aggregate Remainder has been increased and (y) after giving effect to such increase, the Aggregate Remainder exceeds the Working Capital Sublimit as then in effect, the Total Revolving Commitment and the Acquisition Sublimit shall be mandatorily reduced by an amount equal to (I) such excess less (II) the aggregate reductions, if any, theretofore made to the Total Revolving Commitment pursuant to this clause (d), provided that the aggregate reductions to the Total Revolving Commitment made pursuant to this clause (d) shall not exceed $80,000,000.
(e) The Total Revolving Commitment (and the Revolving Commitment of each Bank) shall terminate on the RF Maturity Date.
(f) Each partial reduction of the Total Revolving Commitment provided for in this Section 3.03 shall apply pro rata to the Revolving Commitment (if --- ---- any) of each Bank.
Mandatory Adjustments of Commitments, etc. (a) The Total A Term Commitment shall terminate in its entirety on the Restatement Effective Date after giving effect to the Borrowing of A Term Loans on such date.
(b) The Total B Term Commitment shall be reduced at the time of each continuance or incurrence of B Term Loans in an amount equal to the aggregate principal amount of the B Term Loans so continued or incurred and shall terminate on the earlier of (x) the B Term Termination Date and (y) the date on which any Change of Control occurs.
(c) The Total Revolving Commitment shall terminate on the earlier of (x) the Maturity Date and (y) the date on which any Change of Control occurs.
(d) The Total Revolving Commitment shall be reduced, at the time that any required mandatory repayment of Term Loans would be made pursuant to Section 4.02(A)(c), (e) or (f) if Term Loans were then outstanding, in the amount by which such required repayment (determined as if an unlimited amount of Term Loans were then outstanding) exceeds the aggregate principal amount of Term Loans then outstanding.
(e) Each partial reduction of the B Term Commitment or Revolving Commitment pursuant to this Section 3.03 shall apply proportionately to the B Term Commitment or Revolving Commitment, as the case may be, of each Bank.
Mandatory Adjustments of Commitments, etc. (a) The Total Commitment shall terminate in its entirety on April 9, 1999 unless the Initial Borrowing Date has occurred on or before such date.
(b) The Total Term Loan Commitment shall terminate in its entirety on the Initial Borrowing Date, after giving effect to the making of the Term Loans on such date.
(c) The Total Revolving Loan Commitment shall terminate in its entirety on the Revolving Loan Maturity Date.
(d) Each reduction or adjustment of the Total Term Loan Commitment or the Total Revolving Loan Commitment pursuant to this Section 3.03 shall apply proportionately to the Term Loan Commitment or the Revolving Loan Commitment, as the case may be, of each Bank with such a Commitment.
Mandatory Adjustments of Commitments, etc. (a) The Total Commitment (and the Commitment of each Lender) shall terminate on the Facility Termination Date.
(b) The Total Commitment shall be permanently reduced, without premium or penalty, at the time that any mandatory prepayment of Loans are required to be made pursuant to Sections 5.2 (d), (e) or (f) in an amount equal to the required prepayment of principal of Loans that would be required to be made in such circumstance (whether or not any Loans are outstanding or any Letter of Credit Outstandings exist). Any such reduction shall apply to proportionately and permanently reduce the Commitment of each of the affected Lenders. The Borrower will provide at least three Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), of any reduction of the Total Commitment pursuant to this Section 4.3(b), specifying the date and amount of the reduction.
(c) The Total Commitment shall be permanently and automatically reduced, without notice of any kind, to $65,000,000 on the second anniversary of the Closing Date. Such reduction shall apply to proportionately and permanently reduce the Commitment of each of the affected Lenders.
Mandatory Adjustments of Commitments, etc. The Total Commitment shall terminate on the earlier of (i) the Maturity Date and (ii) unless the Required Lenders otherwise consent, the date on which any Change of Control occurs.