Optional Prepayments and Commitment Reduction Sample Clauses

Optional Prepayments and Commitment Reduction. (i) Subject to the provisions of Section 2.3(e)(iv), Borrowers may from time to time prepay the Revolving Loans and/or Swingline Loans in whole or in part; provided that any such partial prepayment shall be in an amount equal to $100,000 or a higher integral multiple of $25,000. (ii) Upon not less than three (3) Business Days prior notice to Administrative Agent, Borrowers may from time to time (but no more than two (2) times in any Fiscal Year) reduce the Revolving Loan Commitment in minimum amounts equal to $1,000,000 and, if larger, in one or more increments of $1,000,000; provided, that no such reduction shall be permitted if, after giving effect thereto (x) the Revolving Loan Outstandings would exceed the Revolving Loan Limit and/or (y) the Revolving Loan Commitment would equal less than $10,000,000 (unless the same is being reduced to zero in connection with a prepayment in full of all Obligations and the collateralization of any then existing Letter of Credit Liability). Any reduction of the Revolving Loan Commitment pursuant to this clause (ii) shall be permanent, and shall be allocated among the Revolving Lenders according to their respective Pro Rata Shares with respect to the Revolving Loan Commitment.