Common use of Voluntary Commitment Reductions Clause in Contracts

Voluntary Commitment Reductions. (i) Borrower may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof to Administrative Agent (which original written notice Administrative Agent will promptly transmit by facsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Commitments in an amount up to the Aggregate Availability at the time of such proposed termination or reduction; provided that any such partial reduction of the Commitments shall be in an aggregate minimum amount of $2,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Borrower’s notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Commitments shall be effective on the date specified in Borrower’s notice and shall reduce the Commitments of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 4 contracts

Sources: Revolving Credit Agreement (Cheniere Energy, Inc.), Revolving Credit Agreement (Cheniere Energy, Inc.), Revolving Credit Agreement (Cheniere Energy Inc)

Voluntary Commitment Reductions. (i) Borrower The Borrowers may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof to the Administrative Agent (which original written such notice the Administrative Agent will promptly transmit by facsimile telefacsimile or telephone e-mail to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Credit Commitments in an amount up to the Aggregate Availability amount by which the Revolving Credit Commitments exceed the Total Utilization of Revolving Credit Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Revolving Credit Commitments shall be in an aggregate minimum amount of $2,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Borrower’s . The Borrowers’ notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Credit Commitments shall be effective on the date specified in Borrower’s the Borrowers’ notice and shall reduce the Commitments Revolving Credit Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that provided, such termination or commitment reduction notice may be conditioned on the occurrence of any subsequent event (including a Change of Control or refinancing transaction).

Appears in 4 contracts

Sources: First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.), First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.), First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.)

Voluntary Commitment Reductions. (i) Borrower may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof to Administrative Agent (which original written notice Administrative Agent will promptly transmit by facsimile telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments in an amount up to the Aggregate Availability amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of $2,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Borrower’s notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in Borrower’s notice and shall reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 4 contracts

Sources: First Lien Credit and Guaranty Agreement, Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC), First Lien Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC)

Voluntary Commitment Reductions. (i) Borrower Representative may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof in writing to Administrative Agent (which original written notice and Administrative Agent will promptly transmit by facsimile or telephone to notify each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Loan Commitments in an amount up to the Aggregate Availability amount by which the Revolving Loan Commitments exceed the Total Utilization of Revolving Loan Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Revolving Loan Commitments shall be in an aggregate minimum amount of $2,000,000 10,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) BorrowerBorrower Representative’s notice to Administrative Agent (which notice shall be irrevocable) shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Loan Commitments shall be effective on the date specified in BorrowerBorrower Representative’s notice and shall reduce the Commitments Revolving Loan Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 3 contracts

Sources: Credit Agreement (Douglas Dynamics, Inc), Credit Agreement (Douglas Dynamics, Inc), Credit Agreement (Douglas Dynamics, Inc)

Voluntary Commitment Reductions. (i) Borrower The Companies may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly from the Company Representative confirmed by delivery of written notice thereof in writing to Administrative Agent (which original written or telephonic notice Administrative Agent will promptly transmit by facsimile telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, part (i) the Revolving Commitments in an amount up to the Aggregate Availability amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction, or (ii) any unused portion of the Term Loan Commitments; provided that provided, any such partial reduction of the Revolving Commitments and the Term Loan Commitments shall be in an aggregate minimum amount of $2,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) BorrowerThe Company Representative’s notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in Borrowerthe Company Representative’s notice and shall reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 2 contracts

Sources: Credit and Guaranty Agreement (Meridian Waste Solutions, Inc.), Credit and Guaranty Agreement (Meridian Waste Solutions, Inc.)

Voluntary Commitment Reductions. (i) The Borrower may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof in writing to the Administrative Agent (which original written notice the Administrative Agent will shall promptly transmit by facsimile telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Commitments in an amount up to the Aggregate Availability amount by which the Commitments exceed the Total Utilization of Commitments at the time of such proposed termination or reduction; provided that any such partial reduction of the Commitments shall be in an aggregate minimum amount of $2,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) The Borrower’s notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Commitments shall be effective on the date specified in the Borrower’s notice and shall reduce the Commitments of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or . Any reduction may be conditioned on in the occurrence Commitments shall not reduce the amount of any subsequent event (including a refinancing transaction)the Facility Fee payable under Section 2.12.

Appears in 2 contracts

Sources: Revolving Loan Agreement (CURO Group Holdings Corp.), Revolving Loan Agreement (CURO Group Holdings Corp.)

Voluntary Commitment Reductions. (i) Borrower may, upon not less than three (3) Business Days’ prior written or telephonic notice (including by electronic mail) promptly confirmed by delivery of original written notice thereof to Administrative Agent (which original written notice Administrative Agent will promptly transmit by facsimile facsimile, electronic mail or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments in an amount up to the Aggregate Availability amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reductionreduction (after giving effect to any concurrent prepayments on such date); provided that provided, any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of $2,000,000 5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Borrower’s notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in Borrower’s notice and shall reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 2 contracts

Sources: Credit and Guaranty Agreement (Gramercy Property Trust Inc.), Credit and Guaranty Agreement (Gramercy Property Trust Inc.)

Voluntary Commitment Reductions. (ia) Lead Borrower may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof in writing to Administrative Agent (which original written or telephonic notice Administrative Agent will promptly transmit by facsimile telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments in an amount up to the Aggregate Availability amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of $2,000,000 250,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (iib) Lead Borrower’s notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in Borrower’s notice and shall reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Tumi Holdings, Inc.)

Voluntary Commitment Reductions. (i) Borrower may, upon not less than three (3) one Business Days’ Day’s prior written or telephonic notice promptly confirmed by delivery of written notice thereof in writing to Administrative Agent (which original written or telephonic notice Administrative Agent will promptly transmit by facsimile telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments in an amount up to the Aggregate Availability amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of $2,000,000 1,000,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Borrower’s notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in Borrower’s notice and shall reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Aeroflex Holding Corp.)

Voluntary Commitment Reductions. (i) Borrower Borrowers may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof to Administrative Agent (which original written notice Administrative Agent will promptly transmit by facsimile telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments in an amount up to the Aggregate Availability amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of $2,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Borrower’s Borrowers’ notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in Borrower’s Borrowers’ notice and shall reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided provided, that such termination or reduction notice may state that it is conditioned upon the effectiveness of other transactions, in which case such notice may be conditioned revoked or delayed by Borrowers (by notice to Administrative Agent on or prior to the occurrence of any subsequent event (including a refinancing transaction)specified effective date) if such condition is not satisfied.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (AVG Technologies N.V.)

Voluntary Commitment Reductions. (i) The Borrower may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof in writing to the Administrative Agent (which original written or telephonic notice the Administrative Agent will promptly transmit by facsimile or telephone promptly confirmed in writing to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Commitments Total Commitment in an amount up to the Aggregate Availability amount by which the Total Commitment exceeds the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Commitments Total Commitment shall be in an aggregate minimum amount of $2,000,000 1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) The Borrower’s notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Commitments Total Commitment shall be effective on the date specified in the Borrower’s notice and shall reduce the Commitments Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).its

Appears in 1 contract

Sources: Revolving Credit and Guaranty Agreement (REV Group, Inc.)

Voluntary Commitment Reductions. (i) Borrower may, upon not less than three (3) Business Days' prior written or telephonic notice promptly confirmed by delivery of written notice thereof in writing to Administrative Agent (which original written or telephonic notice Administrative Agent will promptly transmit by facsimile telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments in an amount up to the Aggregate Availability amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; provided that that, any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of $2,000,000 1,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Borrower’s 's notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in Borrower’s 's notice and shall reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 1 contract

Sources: Credit Agreement (Regal Entertainment Group)

Voluntary Commitment Reductions. (i) Borrower [Intentionally Omitted]. (ii) Company may, upon not less than three (3) Business Days' prior written or telephonic notice promptly confirmed by delivery of written notice thereof in writing to Administrative Agent (which original written or telephonic notice Administrative Agent will promptly transmit by facsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, part the Commitments in an amount up to the Aggregate Availability at the time of such proposed termination or reductionTerm Loan B Commitments; provided that any such partial reduction of the Term Loan B Commitments shall be in an aggregate minimum amount of $2,000,000 5,000,000 and integral multiples of $1,000,000 in excess of that amount. (iiiii) Borrower’s Company's notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Term Loan B Commitments shall be effective on the date specified in Borrower’s Company's notice and shall reduce the Commitments Term Loan B Commitment, as applicable, of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that any such notice may be conditioned upon the effectiveness of other credit facilities or other debt or equity offerings, in which case such notice may be revoked by Company prior to the anticipated date of such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction)if such condition is not satisfied.

Appears in 1 contract

Sources: Financing Agreement (Global Geophysical Services Inc)

Voluntary Commitment Reductions. (i) Borrower The Borrowers may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof in writing to the Administrative Agent (which original written or telephonic notice the Administrative Agent will promptly transmit by facsimile telefacsimile, e-mail or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Credit Commitments in an amount up to the Aggregate Availability amount by which the Revolving Credit Commitments exceed the Total Utilization of Revolving Credit Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Revolving Credit Commitments shall be in an aggregate minimum amount of $2,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Borrower. The Borrower Representative’s notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Credit Commitments shall be effective on the date specified in Borrowerthe Borrower Representative’s notice and shall (subject to Section 2.22(d)) reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that provided, such termination or commitment reduction may be conditioned on the occurrence of any subsequent event (including a Change of Control or refinancing transaction).

Appears in 1 contract

Sources: Credit and Guaranty Agreement (NRC Group Holdings Corp.)

Voluntary Commitment Reductions. (i) Borrower Borrowers may, upon not less than three (3) one Business Days’ Day’s prior written or telephonic notice promptly confirmed by delivery of written notice thereof to Administrative Agent (which original written notice Administrative Agent will promptly transmit by facsimile telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments in an amount up to the Aggregate Availability amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of $2,000,000 500,000 and integral multiples of $1,000,000 500,000 in excess of that amount. (ii) Borrower’s Borrowers’ notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in Borrower’s Borrowers’ notice and shall reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Ambassadors International Inc)

Voluntary Commitment Reductions. (i) Borrower The BorrowersBorrower may, upon not less than three (3) Business Days’ prior written or telephonic notice promptly confirmed by delivery of written notice thereof to the Administrative Agent (which original written such notice the Administrative Agent will promptly transmit by facsimile telefacsimile or telephone e-mail to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Credit Commitments in an amount up to the Aggregate Availability amount by which the Revolving Credit Commitments exceed the Total Utilization of Revolving Credit Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Revolving Credit Commitments shall be in an aggregate minimum amount of $2,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) Borrower. The Borrowers’Borrower’s notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Credit Commitments shall be effective on the date specified in Borrowerthe Borrowers’Borrower’s notice and shall reduce the Commitments Revolving Credit Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that provided, such termination or commitment reduction notice may be conditioned on the occurrence of any subsequent event (including a Change of Control or refinancing transaction).

Appears in 1 contract

Sources: First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.)

Voluntary Commitment Reductions. (i) Borrower may, upon not less than three two (32) Business Days' prior written or telephonic notice promptly confirmed by delivery of written notice thereof in writing to Administrative Agent Agents (which original written or telephonic notice Administrative Agent Agents will promptly transmit by facsimile telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments in an amount up to the Aggregate Availability amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction; provided that provided, any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of $2,000,000 5,000,000 and integral multiples of $1,000,000 in excess of that amount. (ii) Borrower’s 's notice to Administrative Agent Agents shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in Borrower’s 's notice and shall reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Gentek Inc)

Voluntary Commitment Reductions. (i) Borrower Company may, upon not less than three (3) Business Days’ prior written notice (which may be given by telefacsimile or electronic mail) or telephonic notice promptly confirmed by delivery of written notice thereof in writing to Administrative Agent (which original written or telephonic notice Administrative Agent will promptly transmit by facsimile telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, part (i) the Revolving Commitments in an amount up to the Aggregate Availability amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments at the time of such proposed termination or reduction, or (ii) any unused portion of the Term Loan Commitments; provided that provided, any such partial reduction of the Revolving Commitments and the Term Loan Commitments shall be in an aggregate minimum amount of $2,000,000 500,000 and integral multiples of $1,000,000 100,000 in excess of that amount. (ii) BorrowerCompany’s notice to Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in BorrowerCompany’s notice and shall reduce the Commitments Revolving Commitment of each Lender and/or Issuing Bank proportionately to its Pro Rata Share thereof; provided that such termination or reduction may be conditioned on the occurrence of any subsequent event (including a refinancing transaction).

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Mortons Restaurant Group Inc)