Termination or Reduction of the Commitments. (a) The Commitments shall be automatically terminated on the Revolver Termination Date. (b) The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Once terminated, a Commitment or portion thereof may not be reinstated.
Appears in 20 contracts
Sources: Credit Agreement (Dte Energy Co), Credit Agreement (Michigan Consolidated Gas Co /Mi/), Credit Agreement (Dte Energy Co)
Termination or Reduction of the Commitments. (a) The Commitments shall be automatically terminated on the Revolver Termination Date.
(b) The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Once terminated, a Commitment or portion thereof may not be reinstated.
Appears in 3 contracts
Sources: Five Year Credit Agreement (Michigan Consolidated Gas Co /Mi/), Five Year Credit Agreement (Dte Energy Co), Five Year Credit Agreement (Detroit Edison Co)
Termination or Reduction of the Commitments. (a) The Commitments shall be automatically terminated on the Revolver Commitment Termination Date.
(b) The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Once terminated, a Commitment or portion thereof may not be reinstated.
Appears in 1 contract
Sources: Letter of Credit and Reimbursement Agreement (Dte Energy Co)
Termination or Reduction of the Commitments. (a) The Commitments shall be automatically terminated on the Revolver Termination Date.
(b) The Borrower shall have the right, upon at least three Business Days' β notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, or the remaining balance, if less than $5,000,000. Once terminated, a Commitment or portion thereof may not be reinstated.
Appears in 1 contract
Sources: Credit Agreement (DTE Electric Co)