Common use of Discretionary Rights Clause in Contracts

Discretionary Rights. The Advance Rates may be decreased by Agent at any time and from time to time in the exercise of its Permitted Discretion. Each Borrower consents to any such decreases and acknowledges that decreasing the Advance Rates or increasing or imposing reserves may limit or restrict Advances requested by Borrowing Agent. Except during the occurrence and continuance of an Event of Default or Default, Agent shall give Borrowing Agent fifteen (15) Business Days' prior written notice of its intention to decrease the Advance Rates.

Discretionary Rights. The Advance Rates Rate may be decreased by Administrative Agent at any time and from time to time in the exercise of its Permitted Reasonable Discretion. Each Borrower consents to any such decreases and acknowledges that decreasing the Advance Rates Rate or increasing or imposing reserves may limit or restrict Advances requested by Borrowing Agent. Except during the occurrence and continuance of an Event of Default or Default, Agent shall give Borrowing Agent fifteen (15) Business Days' prior written notice of its intention to decrease the Advance Rates.

Discretionary Rights. The Advance Rates may be decreased by Agent at any time and from time to time in the exercise of its Permitted Discretion. Each Borrower consents to any such decreases and acknowledges that decreasing the Advance Rates or increasing or imposing reserves may limit or restrict Advances requested by Borrowing Agent. Except during the occurrence and continuance of an Event of Default or Default, Agent shall give Borrowing Agent fifteen and Lenders ten (1510) Business Days' ’ prior written notice of its intention to decrease the Advance RatesRates and the reason for such decrease.