Common use of Optional Commitment Reductions Clause in Contracts

Optional Commitment Reductions. The Company may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof and (iii) the Company shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Subject to subsection (c) of this Section 2.06, the amount of any such Aggregate Commitment reduction shall not be applied to the Letter of Credit Sublimit unless otherwise specified by the Company. Any reduction of the Aggregate Commitments pursuant to this Section 2.06(a) shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

Optional Commitment Reductions. The Company Borrower may, upon notice to the Administrative Agent, terminate the Aggregate CommitmentsCommitment, or from time to time permanently reduce the Aggregate CommitmentsCommitment; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five at least three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 5,000,000.00 or any whole multiple of $1,000,000 1,000,000.00 in excess thereof and thereof, (iii) the Company Borrower shall not terminate or reduce the Aggregate Commitments Commitment if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings Facility Usage would exceed the Aggregate CommitmentsCommitment, and (iv) if, after giving effect to any reduction of the Aggregate Commitment, the LC Sublimit exceeds the amount of the Aggregate Commitment, such sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Subject to subsection (c) of this Section 2.06, the amount of any such Aggregate Commitment reduction shall not be applied to the Letter of Credit Sublimit unless otherwise specified by the CompanyCommitment. Any reduction of the Aggregate Commitments pursuant to this Section 2.06(a) Commitment shall be applied to the Commitment of each Lender according to its Applicable PercentagePro Rata Share. All fees accrued until the effective date of any termination of the Aggregate Commitments Commitment shall be paid on the effective date of such termination.