Adjustment of the Commitments. (1) The Borrower shall have the right, without premium or penalty, upon at least three Business Days’ notice to the Administrative 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 $1,000,000 or an integral multiple thereof; provided, further, that the Commitments may not be reduced to an amount that is less than the aggregate stated amount of outstanding Letters of Credit. Subject to the foregoing, (i) any reduction of the Commitments to an amount that is less than $75,000,000 shall also result in a reduction of the LC Commitment Amount to the extent of such deficit, and (ii) if after giving effect to any reduction of the LC Commitment Amount pursuant to the preceding clause (i), any Fronting Commitment exceeds the LC Commitment Amount, such Fronting Commitment shall be automatically reduced by the amount of such excess. Once terminated, a Commitment may not be reinstated except as provided in Section 2.05(c).
Adjustment of the Commitments. (a) The Borrower 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 Commitments of the Lenders; provided that each partial reduction shall be in the aggregate amount of $1,000,000 or an integral multiple thereof. Once terminated, a Commitment may not be reinstated.
Adjustment of the Commitments. Borrower Sublimits 39
Adjustment of the Commitments a. The Borrower shall have the right, without premium or penalty, upon at least three Business Days’ notice to the Administrative 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 $1,000,000 or an integral multiple thereof; provided, further, that the Commitments may not be reduced to an amount that is less than the aggregate stated amount of outstanding Letters of Credit. Subject to the foregoing, any reduction of the Commitments to an amount that is less than $1,250,000,000 shall also result in a ratable reduction of the Fronting Commitment of each LC Issuing Bank. Once terminated, a Commitment may not be reinstated except as provided in Section 2.05(c). For the avoidance of doubt, upon any reduction of the combined Commitments under this Section 2.05 or otherwise, the Green Loan Sublimit shall be reduced on a dollar-for-dollar basis.
Adjustment of the Commitments. The Borrower 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 Commitments of the Lenders; provided that each partial reduction shall be in the aggregate amount of $1,000,000 or an integral multiple thereof. If the Borrower shall make the Term Election, then on the last day of the Revolving Period, the Commitments shall be permanently reduced to an amount equal to the aggregate principal amount of Advances then outstanding. In addition, if on any date following the last day of the Revolving Period the aggregate principal amount of Advances then outstanding shall be less than the Commitments, then on such date the Commitments shall be permanently reduced to an amount equal to the aggregate principal amount of Advances then outstanding.
Adjustment of the Commitments. At any time prior to the Revolving Termination Date, upon giving not less than thirty (30) days prior written notice to the Canadian Administrative Agent, the Borrowers may request an increase to the U.S. Revolving Commitment and a corresponding reduction to the Canadian Revolving Commitment or an increase to the Canadian Revolving Commitment and a corresponding reduction to the U.S. Revolving Commitment. Any such notice may also include the request to increase the U.S. LC Commitment with a corresponding reduction of the Canadian LC Commitment or to increase the Canadian LC Commitment with a corresponding reduction of the U.S. LC Commitment. Any such notice may request increases or decreases of the Revolving Commitments only in the minimum amounts of US$5,000,000 (or the Canadian Dollar Equivalent thereof) and integral multiples of US$1,000,000 (or the Canadian Dollar Equivalent thereof) (unless the requested adjustment applies to the entire amount of the relevant Revolving Commitment). Upon receipt of any such notice, the Canadian Administrative Agent shall promptly communicate such request to the Revolving Lenders. If within twenty (20) days following the giving of such notice by the Canadian Administrative Agent, any Revolving Lender who is a member of the Class of Revolving Lenders that is being requested to increase their Revolving Commitments does not approve such increase in writing, THEN the Borrowers shall have the right, if no Default or Event of Default then exists, to replace such Lender (together with its Affiliated Revolving Lender) by causing such Lender and its Affiliated Revolving Lender to assign their Revolving Commitments, as adjusted pursuant to this SECTION 2.11(d) to one or more existing Lenders or Eligible Assignees pursuant to SECTION 10.06; PROVIDED that such replacement shall comply with the provisions of SECTION 2.1L(c)(i), (ii) and (iii). Subject to the satisfaction of the conditions set forth in the next sentence, any adjustment provided for in this SECTION 2.11(d) will be effective on the first Business Day of the fiscal quarter of the Parent Borrower (any such date, an "ADJUSTMENT DATE") following the expiry of said thirty-day notice period and will remain in effect until the next Adjustment Date, if any. Notwithstanding anything herein to the contrary, no adjustment of the Commitments may be effective unless on the Adjustment Date, (i) immediately after giving effect to such adjustment, (A) the Aggregate Revolving Committed...
Adjustment of the Commitments. (a) Subject to the last sentence of this clause (a) the Obligor may, upon at least three Business Days’ notice to the Administrative Agent, (i) terminate the Commitments at any time, or (ii) ratably reduce from time to time by an aggregate amount of $10,000,000 or an integral multiple of $5,000,000 in excess thereof, the aggregate amount of the Commitments in excess of the Outstanding Credits. On each date of termination or reduction, the Obligor shall pay the amount, if any, due under Section 2.05(a). No reduction or termination of the Commitments under this Agreement shall be permitted if the Commitments under the Agreement are less than the aggregate “Commitments” under and as defined in the Primary Reimbursement Agreement.
Adjustment of the Commitments
