Reduction or Termination of the Credit Sample Clauses

Reduction or Termination of the Credit. The Borrower may from time to time, upon at least five Banking Days' prior written or telephonic notice received by the Bank, permanently reduce the amount of the Credit, but only upon payment of the unpaid principal amount of the Loans, if any, in excess of the then reduced amount of the Credit, plus (i) accrued interest to the date of such payment on the principal amount being repaid, if any, and (ii) any amount required to indemnify the Bank pursuant to Section 2.6 in respect of such payment. Any such reduction shall be in a minimum amount of $1,000,000 or in an integral multiple of $1,000,000 in excess thereof. The Borrower may at any time on like notice terminate the Credit upon payment in full of (a) the Loans, (b) accrued interest thereon to the date of such payment, (c) any amount required to indemnify the Bank pursuant to Section 2.6 in respect of such payment, and (d) any other liabilities of the Borrower hereunder. The Borrower shall promptly confirm any telephonic notice of reduction or termination of the Credit in writing.
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Reduction or Termination of the Credit. The Company may from time to time, upon at least five (5) Banking Days' prior written notice received by the Agent (which shall promptly advise each Bank thereof), permanently reduce the amount of the Credit (such reduction to be made among the Banks according to their respective pro rata share of the Credit), but only upon payment of the outstanding principal of the Notes in excess of the then reduced amount of the Credit, plus accrued interest to the date of such payment on the principal amount being repaid; PROVIDED, HOWEVER, that any reduction of the Credit which would require payment of a Eurodollar Advance may be made only on the last day of the relevant Interest Period for such Eurodollar Advance. Any such reduction shall be in a minimum amount of $1,000,000 or in an integral multiple of $1,000,000. The Company may at any time on like notice terminate the Credit upon payment in full of the outstanding Notes and other liabilities of the Company hereunder.
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Reduction or Termination of the Credit. The Company may from time to time, upon at least three Banking Days' prior written or telephonic notice received by the Agent (which shall promptly advise each Bank thereof), permanently reduce the amount of the Commitments, but only upon payment of the unpaid principal amount of the Revolving Loans, if any, in excess of the then reduced amount of the Credit, plus (I) accrued interest to the date of such payment on the principal amount being repaid, (ii) any amount required to indemnify the Bank pursuant to Section 2.7 in respect of such payment, and (iii) the commitment fee on the amount of each Bank's Commitment so reduced which is accrued but unpaid through the date of such reduction, it being understood that at no time may the unpaid principal amount of the Revolving Loans exceed the aggregate Commitments. Any such reduction shall be in a minimum amount of $1,000,000 and in an integral multiple of $100,000. The Company may at any time on like notice terminate the Credit upon payment in full of (a) the Revolving Loans, (b) accrued interest thereon to the date of such payment,(c)any amount required to indemnify the Banks pursuant to Section 2.7 in respect of such payment, and (d) any other liabilities of the Company hereunder. The Company shall promptly confirm any telephonic notice of reduction or termination of the Credit in writing." 14. Section 6.4 is hereby amended to read as follows:
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Reduction or Termination of the Credit. The Company may from time to time, upon at least five (5) Banking Days' prior written or telephonic notice received by the Agent (which shall promptly advise the Banks), irrevocably elect to permanently reduce the amount of the Credit and the Commitment Amounts (such reduction to be made among the Banks according to their respective Percentages), but only upon payment to the Agent, for the account of the Banks, of the unpaid principal amount of the Revolving Loans, if any, in excess of the then reduced amount of the Revolving Credit Commitment Amount, plus (i) accrued interest to the date of such payment on the principal amount being repaid and (ii) any amount required to indemnify each of the Banks pursuant to Section 3.4 in respect of such payment. Any such reduction shall be in a minimum amount of $1,000,000 and in an integral multiple of $500,000. The Company may at any time on like notice irrevocably elect to terminate the Credit and the Commitments upon payment in full of (a) the Revolving Loans (or the Term Loans, if applicable), (b) unpaid accrued interest on Loans to the date of such payment, (c) any amount required to indemnify any Bank pursuant to Section 3.4 in respect of such payment, and (d) any other Liabilities of the Company. The Company shall promptly confirm any telephonic notice of reduction or termination of the Credit in writing.
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Related to Reduction or Termination of the Credit

  • Reduction or Termination of Commitments Unless previously terminated, the Commitments shall terminate on the Revolving Commitment Termination Date. The Borrower shall have the right, upon not less than two Business Days’ written notice to the Administrative Agent, to terminate the Commitments or, from time to time, reduce the amount of the Commitments; provided, however, that the Borrower shall not terminate or reduce any Commitment if, after giving effect to any concurrent repayment of the Loans in accordance with Section 2.07 and Section 2.08, the total Credit Exposure of the Lenders would exceed the sum of total Commitments. Any reduction shall be accompanied by prepayment of the Loans to the extent, if any, that the total Credit Exposure of the Lenders then outstanding exceeds the sum of the total Commitments as then reduced. Any termination of the Commitments shall be accompanied by prepayment in full of the Loans then outstanding and the payment of any unpaid fees then accrued hereunder. Upon receipt of such notice, the Administrative Agent shall promptly notify each Lender thereof. Any partial reduction shall be in an amount of $5,000,000 or a whole multiple thereof and shall reduce permanently the total amount of the Commitments, together with a corresponding reduction in the aggregate amount of each Lender’s applicable Commitment. The Commitments, once terminated or reduced, may not be reinstated. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their Commitments (except for in connection with the termination of this Agreement as to any Lender pursuant to Section 10.15).

  • Modification or Termination The Loan Documents may only be modified or terminated by a written instrument or instruments intended for that purpose and executed by the party against which enforcement of the modification or termination is asserted. Any alleged modification or termination which is not so documented shall not be effective as to any party.

  • Termination or Reduction of the Commitments (a) 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 Available Commitments, provided that (i) each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $5,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reduction. Subject to the foregoing, any reduction of the Commitments to an amount below $500,000,000 shall also result in a reduction of the LC Commitment Amount to the extent of such deficit (and if such reduction would cause the LC Commitment Amount to be less than the aggregate Fronting Commitments, with automatic reductions in the amount of each Fronting Commitment ratably in proportion to the amount of such reduction of the LC Commitment Amount unless, in the case of any LC Issuing Bank, such LC Issuing Bank consents otherwise). Each such notice of termination or reduction shall be irrevocable; provided, however, that a notice of termination delivered pursuant to this Section 2.08 may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the effective date specified in the notice of termination) if such condition is not satisfied. (b) The Borrower may terminate the unused amount of the Commitment of any Lender that is a Defaulting Lender upon not less than three Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.21(a)(ii) will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim the Borrower, the Administrative Agent, any LC Issuing Bank or any Lender may have against such Defaulting Lender. (c) The Commitment of each Lender shall automatically terminate on the Termination Date applicable to such Lender as provided in Section 2.06. (d) Once terminated, a Commitment or any portion thereof may not be reinstated.

  • Amendment, Suspension or Termination of the Plan By accepting this Award, Participant expressly warrants that he or she has received an Award of Restricted Stock Units under the Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan is discretionary in nature and may be amended, suspended or terminated by the Company at any time.

  • Optional 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 in part the unused Commitments of the Lenders, provided that each partial reduction shall be in the amount of $1,000,000 or an integral multiple of $1,000,000 in excess thereof.