Termination of Revolver Commitments Sample Clauses

Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 30 days’ prior written notice to Agent at any time, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable. On the termination date, Borrowers shall make Full Payment of all Obligations. (b) Concurrently with any termination of the Revolver Commitments, for whatever reason (including an Event of Default), Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders and as liquidated damages for loss of bargain (and not as a penalty), an amount equal to 0.50% of the Revolver Commitments being terminated if the termination occurs during the first Loan Year. No termination charge shall be payable if termination occurs in connection with a refinancing of this credit facility by Bank of America or any of its Affiliates.

Termination of Revolver Commitments. (i) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 90 days prior written notice to Agent at any time, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility; provided that if Borrowers terminate the Revolver Commitments in whole during the first Loan Year, Borrowers shall pay to the Agent for the account of the Lenders an amount equal to 1.00% multiplied by the principal amount of the Revolving Commitments terminated. Any notice of termination given by Borrowers shall be irrevocable. On the termination date, Borrowers shall make Full Payment of all Obligations. (ii) The UK Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 90 days prior written notice to Agent, UK Borrower may, at its option, terminate the UK Revolver Commitments and this credit facility; provided that if Borrowers terminate the UK Revolver Commitments in whole during the first Loan Year, Borrowers shall pay to the Agent for the account of the Lenders an amount equal to 1.00% multiplied by the principal amount of the UK Revolving Commitments terminated. Any notice of termination given by UK Borrower shall be irrevocable. On the termination date, UK Borrower shall make Full Payment of all UK Obligations.

Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 15 Business Days prior written notice to Agent, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable. On the termination date, Borrowers shall make Full Payment of all Obligations. (b) Concurrently with any termination of the Revolver Commitments, for whatever reason (including an Event of Default), Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders, and as liquidated damages for loss of bargain (and not as a penalty), an amount equal to (i) if the termination occurs during the first or second Loan Year, 1.0% (less 4.17 basis points per month for each month during the first two Loan Years that has passed prior to such termination) of the Revolver Commitments; and (ii) if it occurs thereafter, 0.5% (less 4.17 basis points per month for each month after the end of the second Loan Year that has passed prior to such termination) of the Revolver Commitments. No termination charge shall be payable if (x) termination occurs on the Revolver Termination Date or (y) termination occurs in connection with Full Payment of the Obligations using proceeds of a refinancing credit facility with a commitment amount of not less than $60,000,000 and in which State Bank is given the opportunity but declines to participate. (c) Notwithstanding the forgoing, Borrowers may terminate the Revolver Commitments and this credit facility, upon not less than 15 Business Days prior written notice to Agent, without the payment of the liquidated damages provided for in Section 2.1.4, in the event that Agent exercises its discretion (in lieu of relying on specific exclusionary or reserve language in this Agreement) in relation to the imposition of any Availability Reserve, the determination of eligibility of Borrower Advances for inclusion in the Borrowing Base, or any reduction in the advance rates applicable under the definition of Borrowing Base, the result of which on any date of such exercise of reasonable credit judgment is to reduce the Borrowing Base by an amount greater than twenty-five percent (25%) of the aggregate Revolver Commitments on such date.

Termination of Revolver Commitments. The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 10 days (or such shorter period as may be agreed to in writing by Agent in its discretion) prior written notice to Agent, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable; provided that if such notice is given in connection with a refinancing and such refinancing fails to close, such notice may be revoked one time only during the term of this Agreement and so long as written notice of such revocation is delivered to Agent at least two Business Days prior to the date of termination. On the termination date, Borrowers shall make Full Payment of all Obligations.

Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 90 days prior written notice to Agent at any time after the first Loan Year, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable. On the termination date, Borrowers shall make Full Payment of all Obligations. (b) [Intentionally Omitted]. (c) Concurrently with a termination of the Revolving Commitments, for whatever reason (including an Event of Default), Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders and as liquidated damages for loss of bargain (and not as a penalty), an amount equal to (i) if the termination occurs during the first Loan Year, 2.0% of the Revolver Commitments; (ii) if it occurs during the second Loan Year, 1.0% of the Revolver Commitments; and (iii) if it occurs thereafter, 0.0% of the Revolver Commitments. No termination charge shall be payable if termination occurs on the Revolver Termination Date or in connection with a refinancing of this credit facility by Bank of America or any of its Affiliates.

Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Commitment Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 30 days prior written notice to Agent, Borrower may, at its option, terminate the Revolver Commitments and this credit facility prior to the Scheduled Revolving Period End Date. Any notice of termination given by Borrower shall be irrevocable and on the effective date of such termination, Borrower shall make Full Payment of all Obligations. (b) Concurrently with any termination of the Revolver Commitments and this credit facility during the first Loan Year, for whatever reason (including an Event of Default), Borrower shall pay to Agent, for the Pro Rata benefit of Lenders and as liquidated damages for loss of bargain (and not as a penalty), an amount equal to 1% of the Revolver Commitments. No termination charge shall be payable after the end of the first Loan Year.

Termination of Revolver Commitments. (i) The US Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. At any time upon at least 30 days prior written notice to Agent (or such shorter period as agreed to by Agent), Borrowers may, at their option, terminate the US Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable. On the termination date, Borrowers shall make Full Payment of all Obligations. (ii) The UK Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 30 days prior written notice to Agent (or such shorter period as agreed to by Agent), UK Borrowers may, at their option, terminate the UK Revolver Commitments and this credit facility.

Termination of Revolver Commitments. The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 90 days prior written notice to Agent at any time after the first Loan Year, Borrower may, at its option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrower shall be irrevocable. On the termination date, Borrower shall make Full Payment of all Obligations. Concurrently with any termination of the Revolver Commitments, for whatever reason (including an Event of Default), Borrower shall pay to Agent as liquidated damages for loss of bargain (and not as a penalty), an amount equal to (a) if the termination occurs during the first Loan Year, 1.50% of the Revolver Commitments being terminated; (b) if the termination occurs during the second Loan Year, 0.75% of the Revolver Commitments being terminated; (iii) if the termination occurs during the third Loan Year, 0.25% of the Revolver Commitments being terminated and (iv) if the termination occurs thereafter, zero. No termination charge shall be payable if termination occurs on the Revolver Termination Date or in connection with a refinancing of this credit facility by Bank of America or any of its Affiliates.

Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least (i) 10 Business Days prior written notice to Agent at any time prior to the First Year, Borrowers may terminate the Revolver Commitments and this credit facility provided that Borrowers shall pay to Agent, in cash, the Applicable Prepayment Premium, measured as of the date of such termination; and (ii) 10 Business Days prior written notice to Agent at any time after the first Loan Year, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable, provided that notwithstanding the forgoing, (i) Borrowers may rescind termination notices relative to proposed payments in full of the Obligations with the proceeds of third party Debt if the closing for such issuance or incurrence does not happen on or before the date of the proposed termination (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (ii) Borrowers may extend the date of termination at any time with the consent of Agent (which consent shall not be unreasonably withheld or delayed). (b) [Reserved].