Voluntary Reduction or Termination of the Commitment. The Company may from time to time on at least five Business Days’ prior written notice received by Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Commitment to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $1,000,000 or a higher integral multiple of $100,000. Concurrently with any reduction of the Commitment to zero, the Company shall pay all interest on the Loans, all non-use fees and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.
Appears in 2 contracts
Sources: Credit Agreement (Centene Corp), Credit Agreement (Centene Corp)
Voluntary Reduction or Termination of the Commitment. The Company may from time to time on at least five two Business Days’ prior written notice received by Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Commitment Amount to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than $US$1,000,000 or a higher integral multiple of $US$100,000. Concurrently with any reduction of the Commitment Amount to zero, the Company shall pay all interest on the Loans, all non-use fees Loans and all letter of credit fees and shall Cash Collateralize in full all obligations arising with respect to the Letters of Credit.
Appears in 1 contract
Sources: Credit Agreement (SPSS Inc)