Example ContractsClausescommitmentVariants
Commitment
Commitment contract clause examples

Commitment Reductions. The [[Organization A:Organization]] 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 unused portions of the respective Unused Commitments or the Unissued Letter of Credit Commitments, provided that each partial reduction shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. Once reduced or terminated, the Commitments may not be reinstated.

The [[Organization A:Organization]] shall have the right, upon at least three Business Days’ prior written notice to the Administrative Agent (which notice may be conditional only upon the occurrence of the consummation of any transaction or any incurrence or issuance of indebtedness or Equity Interests), to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; provided that each partial reduction shall be in an aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereto. Once reduced or terminated, the Commitments may not be reinstated.

SECTION # Reduction of the Commitments. The [[Organization A:Organization]] shall have the right, upon at least three Business Days’ notice to the [[Organization B:Organization]], to terminate in whole all of the Commitments or reduce ratably in part the unused portions of the respective Commitments of the [[Organization C:Organization]], provided that the aggregate amount of the Commitments of the [[Organization C:Organization]] shall not be reduced to an amount which is less than the aggregate principal amount of the Advances then outstanding, and provided further that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof.

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