Termination and Reduction of the Commitments Clause Samples

Termination and Reduction of the Commitments. (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date. (b) The Borrower may at any time terminate, or from time to time reduce, without premium or penalty, the Aggregate Commitments; provided that (i) each reduction of the total Aggregate Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $1,000,000 and shall be applied ratably to each Lender’s Commitment and (ii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.11 and Section 2.12, the Aggregate New Money Credit Exposure would exceed the Aggregate Commitments. (c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Aggregate Commitments under Section 2.02(b) at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Aggregate Commitments delivered by the Borrower may state that such notice is conditioned on the occurrence of the effectiveness of a Disposition or 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 specified effective date) if such condition is not satisfied. Any termination of the Aggregate Commitments shall be permanent. Each reduction of the Aggregate Commitments shall be made ratably among the Lenders in accordance with their respective Commitments.

Termination and Reduction of the Commitments. At the close of business on the last Business Day of the Availability Period, the Commitments shall automatically and without notice be reduced to zero, and once borrowed or repaid, the Loan may not be reborrowed.

Termination and Reduction of the Commitments. Scheduled Termination 8.1 Unless previously terminated, the unutilised Commitments shall terminate at the close of business on the Commitment Termination Date.

Termination and Reduction of the Commitments. (a) Scheduled Termination. Unless previously terminated in accordance with the terms hereof, the Commitments shall terminate on the Maturity Date.

Termination and Reduction of the Commitments. Unless previously terminated, the Tranche A Term Loan Commitments shall terminate on the earlier to occur of (x) 5:00 p.m. on the Effective Date and (y) in the case of any Lender’s Commitment, the date of termination of the Exchange Agreement.

Termination and Reduction of the Commitments. (a) Unless previously terminated, the Term Commitments and the Revolving Commitments shall terminate on the Commitment Termination Date. (b) The Company may at any time terminate, or from time to time reduce, the Commitments of either Class; provided that (i) each reduction of the Commitments pursuant to this Section shall be in an amount that is $25,000,000 or a larger multiple of $1,000,000, (ii) the Company shall not terminate or reduce the Term Commitments except to the extent required under Section 2.09, (iii) the Company shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans in accordance with Section 2.08, the total Revolving Exposures would exceed the total Revolving Commitments, and (iv) each request for each such reduction shall be accompanied by a certificate of a Responsible Officer demonstrating (to the reasonable satisfaction of the Administrative Agent) compliance by the Company with Section 8.04 after giving effect to such reduction. (c) The Company shall notify the Administrative Agent and the Collateral Agent of any election to terminate or reduce the Commitments of either Class under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Company pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments of either Class delivered by the Company may state that such notice is conditioned upon the effectiveness of other credit facilities or upon the issuance of other indebtedness, in which case such notice may be revoked by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. (d) The Commitments shall reduce automatically on the date of any prepayment of Loans made pursuant to this Section or Section 2.09 in an amount equal to the amount of such prepayment. (e) Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments of a Class shall be made ratably among the Lenders with respect to such Class in accordance with their respective Commitments.

Termination and Reduction of the Commitments. (i) The Company may, at any time, upon not less than thirty days' prior written notice to the Agent, a copy of which shall be promptly provided by the Agent to each Lender, reduce the aggregate Commitment Amounts, with any such reduction in a minimum amount of $10,000,000, or, if more, in an integral multiple of $5,000,000 in excess thereof; provided, that the Company may not reduce the aggregate Commitment Amounts below the aggregate principal amount of outstanding Loans. The Company may, upon not less than thirty days' prior written notice to the Agent, a copy of which shall be promptly provided by the Agent to each Lender, terminate the Commitments in their entirety. Upon termination of the Commitments pursuant to this Section, the Company shall pay to the Agent the aggregate amount of all outstanding Loans, all accrued and unpaid interest thereon, any unpaid fees accrued to the date of such termination and all other unpaid obligations of the Company to the Lenders in respect of their Commitments hereunder. (ii) Notwithstanding the foregoing, any termination of the Commitments pursuant to Section 6.02 shall supersede any notice of termination or reduction under this Section 2.01(g). Once the Commitments have been terminated or reduced, they may not be reinstated.

Termination and Reduction of the Commitments. At close of business on the Closing Date, and upon the making of the requested Loans on the Closing Date, the Commitments shall automatically and without notice be reduced to zero and terminated.

Termination and Reduction of the Commitments. (a) The aggregate amount of the Commitments of any Class shall be automatically reduced to zero on the Credit Termination Date for such Class of Commitments. On the Credit Termination Date for the Class A-1 Commitments the outstanding balance of the Class A-1 Loan Advance Account on such date shall be repaid to the Class A-1 Lenders. (b) Upon the making of any Loan by a Lender hereunder, the amount of such Lender’s Commitment shall be automatically reduced by the initial principal amount of such Loan. (c) The Commitments once terminated or reduced may not be reinstated.