Common use of Reduction of the Commitment Clause in Contracts

Reduction of the Commitment. The Borrower shall have the right, upon at least five Business Days’ notice to the Bank, to terminate in whole or reduce in part permanently the unused portion of the Commitment, provided that each partial reduction shall be in the amount of $100,000 or an integral multiple thereof.

Appears in 1 contract

Sources: Revolving Credit Agreement (Arc Corporate Realty Trust Inc)

Reduction of the Commitment. The Borrower shall have the right, upon at least five two (2) Business Days' written notice to the Bank, to terminate in whole or reduce in part permanently the unused portion of the Commitment, ; provided that each partial reduction shall be in the aggregate amount of not less than $100,000 or an integral multiple thereofin excess thereof After each such reduction, the commitment fee provided for in Section 2.05 shall be calculated with respect to the Commitment as so reduced.

Appears in 1 contract

Sources: Revolving Credit Loan Agreement (Cogen Technologies Inc)

Reduction of the Commitment. The Borrower shall have the right, upon at least five FIVE Business Days' notice to the Bank, to terminate in whole or reduce in part permanently the unused portion of the CommitmentCommitment of the Bank, provided that each partial reduction shall be in the amount aggregate of $100,000 1,000,000 or an a greater integral multiple thereof.

Appears in 1 contract

Sources: Revolving Credit Agreement (New Jersey Resources Corp)

Reduction of the Commitment. The Borrower shall have the right, upon at least five two (2) Business Days' notice to the Bank, to terminate in whole or reduce in part permanently the unused portion of the Commitment, without premium or penalty, provided that each partial reduction shall be in the aggregate amount of $100,000 1,000,000 or an integral multiple thereof.of $1,000,000 thereof and that such reduction shall not reduce the Commitment to an amount less than the amount

Appears in 1 contract

Sources: Credit Agreement (Komag Inc /De/)

Reduction of the Commitment. The Borrower shall have the right, upon at least five three (3) Business Days’ notice to the BankLender, to terminate in whole or reduce in part permanently the unused portion of the Commitment, provided without premium or penalty; provided, that each partial reduction shall be in the minimum aggregate amount of $100,000 or and an integral multiple thereofof $100,000 and that such reduction shall not reduce the Commitments to an amount less than the amount of Loans outstanding on the effective date of the reduction. The Commitment shall terminate in whole immediately upon any Prepayment Trigger.

Appears in 1 contract

Sources: Credit Agreement (Warwick Valley Telephone Co)

Reduction of the Commitment. The Borrower shall have the right, upon at least five Business Days' prior irrevocable written notice to the Bank, to terminate in whole whole, or permanently reduce in part permanently part, the unused portion of the Commitment; provided, provided that each partial reduction shall be in the amount of U.S. $100,000 or an integral multiple thereof.

Appears in 1 contract

Sources: Revolving Credit Agreement (Greg Manning Auctions Inc)