Common use of Optional Reduction and Termination of Revolving Commitment Clause in Contracts

Optional Reduction and Termination of Revolving Commitment. (a) Unless previously terminated, the Revolving Commitment shall terminate on the Commitment Termination Date. (b) Upon at least three (3) New York Business Days prior written notice (or telephonic notice promptly confirmed in writing) to the Lender (which notice shall be irrevocable), the Borrower may reduce the Revolving Commitment in part or terminate the Revolving Commitment in whole; provided, that (i) any partial reduction pursuant to this Section 2.8 shall be in an amount of at least $1,000,000.00 and any larger multiple of $500,000.00, and (ii) no such reduction shall be permitted which would reduce the Revolving Commitment to an amount less than the outstanding Revolving Credit Exposure of the Lender.

Optional Reduction and Termination of Revolving Commitment. (a) Unless previously terminated, the Revolving Commitment shall terminate on the Commitment Termination Date. (b) Upon at least three two (32) New York Business Days Days’ prior written notice (or telephonic notice promptly confirmed in writing) to the Lender (which notice shall be irrevocable), the Borrower may reduce the Revolving Commitment in part or terminate the Revolving Commitment in whole; provided, that (i) any partial reduction pursuant to this Section 2.8 2.3 shall be in an amount of at least $1,000,000.00 500,000 and any larger multiple of $500,000.00, 100,000 and (ii) no such reduction shall be permitted which would reduce the Revolving Commitment (after giving effect thereto and any concurrent prepayments made under Section 2.4) to an amount less than the outstanding Revolving Credit Exposure of the LenderLoans.