Common use of Commitment Reductions Clause in Contracts

Commitment Reductions. The Borrower may at any time and from time to time upon not less than three Business Day’s prior irrevocable written notice given to the Administrative Agent, terminate or permanently reduce the unused portion of the Commitments on any Business Day. Any such reduction shall be in the amount of $5,000,000 or a higher integral multiple of $1,000,000. Any such notice of termination or reduction of the Commitments having been given as aforesaid shall be irrevocable and effective upon receipt by the Administrative Agent.

Commitment Reductions. The Borrower may at any time and from time to time upon not less than three Business Day’s 's prior irrevocable written notice given to the Administrative Agent, terminate or permanently reduce the unused portion of the Commitments on any Business Day. Any such reduction shall be in the amount of $5,000,000 or a higher integral multiple of $1,000,000. Any such notice of termination or reduction of the Commitments having been given as aforesaid shall be irrevocable and effective upon receipt by the Administrative Agent.