Common use of Voluntary Reduction of the Acquisition Commitments Clause in Contracts

Voluntary Reduction of the Acquisition Commitments. The Company may from time to time on at least five Business Days' prior written notice received by the Administrative Agent (which shall promptly advise each Bank thereof) permanently reduce the Acquisition Commitment Amount. Any such reduction shall be in the amount of $1,000,000 or an integral multiple thereof. All reductions of the Acquisition Commitment Amount shall reduce the Acquisition Commitments pro rata among the Banks according to their respective Acquisition Percentages.

Appears in 2 contracts

Sources: Credit Agreement (Synagro Technologies Inc), Credit Agreement (Synagro Technologies Inc)