Common use of Termination Reduction or Increase of the Commitments Clause in Contracts

Termination Reduction or Increase of the Commitments. The Borrower shall have the right, upon at least one Business Day’s notice to the Agent, to terminate in whole or permanently 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 $500,000 in excess thereof.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Greater Bay Bancorp), 364 Day Revolving Credit Agreement (Greater Bay Bancorp)