Adjustments of Commitments Clause Samples

Adjustments of Commitments. Optional Termination or Reductions of Commitments (Pro-Rata). The Company, the Guarantor or each Designated Borrower may, upon at least three Business Days’ prior written notice to the Administrative Agent, permanently (i) terminate the Commitments, if there are no Revolving Outstandings at such time or (ii) ratably reduce from time to time by a minimum amount of $10,000,000 or any larger integral multiple of $5,000,000, the aggregate amount of the Commitments in excess of the aggregate Revolving Outstandings. Upon receipt of any such notice, the Administrative Agent shall promptly notify the Lenders. Any such reduction shall have the effect of reducing each Borrower’s Sublimit in an amount as designated by the Company, the Guarantor or each applicable Designated Borrower; provided that (x) no Sublimit of a Borrower shall be reduced to an amount less than (1) the Borrower Revolving Outstandings of such Borrower or (2) such Borrower’s Minimum Sublimit and (y) after giving effect to such reduction, the aggregate Sublimits must not exceed the aggregate amount of Commitments. If the Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination.

Adjustments of Commitments. Each Bank's participation in letters of credit under the Credit Agreement shall be automatically adjusted such that their participation shall be in accordance with their pro rata commitments as reflected on Schedule 1.01(a) (as amended hereby) to the Credit Agreement.

Adjustments of Commitments. 11 2.8 COMMITMENT FEE........................................................................12 2.9 COLLATERAL............................................................................12

Adjustments of Commitments