Termination or Reduction of the Total Commitment Clause Samples

Termination or Reduction of the Total Commitment. The Borrower may at any time, upon thirty (30) days prior written notice to the Program Agent terminate in whole or reduce in part the unused portion of the Total Commitment; provided, that each such partial reduction of the Total Commitment shall be in an amount equal to at least $5,000,000 or an integral multiple thereof. Any reduction of the Total Commitment shall reduce ratably (or terminate) the Secondary Lender Commitment of each Secondary Lender.
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Termination or Reduction of the Total Commitment. The Borrower may at any time, upon thirty (30) days prior written notice to the Program Agent terminate in whole or reduce in part the unused portion of the Total Commitment; provided, that each such partial reduction of the Total Commitment shall be in an amount equal to at least $5,000,000 or an integral multiple thereof. Any reduction of the Total Commitment shall reduce ratably (or terminate) the Conduit Lender Related Commitment and the Direct Lender Commitment and such reduction or termination of the Conduit Lender Related Commitment shall reduce ratably (or terminate) the Secondary Lender Commitment of each Secondary Lender. In addition, such reduction or termination of the Direct Lender Commitment shall reduce ratably (or terminate) the Direct Lender Commitment of each Direct Lender.
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Termination or Reduction of the Total Commitment. (a) The Borrower may at any time, upon ten (10) Business Days prior written notice to the Agent and each Managing Agent, terminate in whole or reduce in part the unused portion of the Total Commitment; provided that each such partial reduction of the Total Commitment shall be in an amount equal to at least $5,000,000 or an integral multiple thereof. Upon any such reduction in the Total Commitment, the Borrower shall immediately make any repayment required pursuant to Section 2.05(e). (b) With respect to any Secondary Lender Commitment, such Secondary Lender Commitment shall automatically terminate in whole on the date seventy-five (75) days following delivery of a notice of termination by such Secondary Lender’s related Managing Agent to the Borrower, the Agent and each other Managing Agent (the “Automatic Termination Date”) after the occurrence of a Termination Event. If, on or before the date that is five (5) Business Days following the delivery of any such notice of termination, any other Managing Agent delivers such a notice of termination in respect of such Termination Event, the Secondary Lender Commitments of such other Managing Agent’s Lender Group shall also terminate on such Automatic Termination Date. (c) The Borrower shall provide each Rating Agency prior written notice of any termination or reduction of the Total Commitment pursuant to this Section 2.10.
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Termination or Reduction of the Total Commitment. (a) The Borrower may at any time, upon ten (10) Business Days prior written notice to the Agent, terminate in whole or reduce in part the unused portion of the Total Commitment; provided that each such partial reduction of the Total Commitment shall be in an amount equal to at least $5,000,000 or an integral multiple thereof. Upon any such reduction in the Total Commitment, the Borrower shall immediately make any repayment required pursuant to Section 2.05(e). (b) The Total Commitment shall automatically terminate in whole on the date seventy-five (75) days following delivery of a notice of termination by the Agent after the occurrence of a Termination Event. (c) The Borrower shall provide each Rating Agency prompt written notice of any termination or reduction of the Total Commitment pursuant to this Section 2.10.
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Termination or Reduction of the Total Commitment. (a) The Borrower may at any time, upon ten (10) Business Days prior written notice to the Agent, terminate in whole or reduce in part the unused portion of the Total Commitment; provided that each such partial reduction of the Total Commitment shall be in an amount equal to at least $5,000,000 or an integral multiple thereof. Upon any such reduction in the Total Commitment, the Borrower shall immediately make any repayment required pursuant to Section 2.05(e). (b) The Total Commitment shall automatically terminate in whole on the date seventy-five (75) days following delivery of a notice of termination by the Agent after the occurrence of a Termination Event. (c) The Total Commitment shall automatically terminate in whole on the date thirty (30) Business Days following delivery of a notice of termination by the Agent after the occurrence of a Rating Termination Event. (d) The Borrower shall provide each Rating Agency prompt written notice of any termination or reduction of the Total Commitment pursuant to this Section 2.10.
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Related to Termination or Reduction of the Total Commitment

  • 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.

  • Termination or Reduction of Commitment Borrower may, upon notice to Lender, terminate the Commitment, or from time to time permanently reduce the Commitment; provided that (i) any such notice shall be received by Lender not later than 12:00 p.m. five (5) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000 or any whole multiple of $10,000 in excess thereof, (iii) Borrower shall not terminate or reduce the Commitment if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Commitment, and (iv) if, after giving effect to any reduction of the Commitment or the L/C Sublimit exceeds the amount of the Commitment, the L/C Sublimit shall be automatically reduced by the amount of such excess. All fees accrued until the effective date of any termination of the Commitment shall be paid on the effective date of such termination.

  • Termination or Reduction of Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

  • Termination or Reduction of Revolving Commitments The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

  • Reduction of Total Commitment The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.