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

Optional Reduction and Termination of Revolving Commitments. (a) Unless previously terminated, (i) all SBAC Revolving Commitments shall terminate on the SBAC Revolving Credit Maturity Date and (ii) all SBF Revolving Commitments shall terminate on the SBF Revolving Credit Maturity Date. (b) Upon at least three Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent (which notice shall be irrevocable): (i) SBAC may reduce the Aggregate SBAC Revolving Commitments in part or terminate the Aggregate SBAC Revolving Commitments in whole; provided that any partial reduction shall (A) apply to reduce proportionately and permanently the SBAC Revolving Commitment of each Lender and (B) be in an amount of a least $1,000,000 and any larger multiple of $500,000. SBAC shall not terminate or reduce the SBAC Revolving Commitments if, after giving effect to any concurrent prepayment of the SBAC Revolving Loans in accordance with Section 2.11, the SBAC Revolving Credit Exposure of all Lenders would exceed the Aggregate SBAC Revolving Commitment Amount. Any termination of the Aggregate SBAC Revolving Commitments pursuant to this Section 2.7(b)(i) may not be reinstated. (ii) SBF may reduce the Aggregate SBF Revolving Commitments in part or terminate the Aggregate SBF Revolving Commitments in whole; provided that any partial reduction shall (A) apply to reduce proportionately and permanently the SBF Revolving Commitment of each Lender and (B) be in an amount of a least $1,000,000 and any larger multiple of $500,000. SBF shall not terminate or reduce the SBF Revolving Commitments if, after giving effect to any concurrent prepayment of the SBF Revolving Loans in accordance with Section 2.11, the SBF Revolving Credit Exposure of all Lenders would exceed the Aggregate SBF Revolving Commitment Amount. Any termination of the Aggregate SBF Revolving Commitments pursuant to this Section 2.7 may not be reinstated. (c) The applicable Borrower may terminate (on a non-ratable basis) the unused amount of a Revolving Commitment of a Defaulting Lender upon not less than five Business Days’ prior notice to the Administrative Agent (which will promptly notify the Lenders thereof), and in such event the provisions of Section 2.21 will apply to all amounts thereafter paid by such Borrower for the account of any such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that such termination will not be deemed to be a waiver or release of any claim such Borrower, the Administrative Agent or any Lender may have against such Defaulting Lender. (d) Notwithstanding the foregoing, any notice of a termination of a Commitment delivered by the applicable Borrower may state that such notice is conditioned upon the effectiveness of one or more other transactions, in which case such notice may be revoked by such Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Optional Reduction and Termination of Revolving Commitments. (a) Unless previously terminated, (i) all SBAC Revolving Commitments shall terminate on the SBAC Revolving Credit Maturity Date and (ii) all SBF Revolving Commitments shall terminate on the SBF Revolving Credit Maturity Date. (b) Upon at least three Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent (which notice shall be irrevocable): (i) SBAC ), the Borrowers may reduce the Aggregate SBAC Revolving Commitments in part or terminate the Aggregate SBAC Revolving Commitments in whole; provided that any partial reduction shall (A) apply to reduce proportionately and permanently the SBAC Revolving Commitment of each Lender and (B) any partial reduction pursuant to this Section 2.7 shall be in an amount of a at least $1,000,000 and any larger multiple of $500,000. SBAC The Borrowers shall not terminate or reduce the SBAC Revolving Commitments if, after giving effect to any concurrent prepayment of the SBAC Revolving Loans in accordance with Section 2.11, the SBAC Revolving Credit Exposure of all Lenders would exceed the Aggregate SBAC Revolving Commitment Amount. Any termination of the Aggregate SBAC Revolving Commitments pursuant to this Section 2.7(b)(i) may not be reinstated. (ii) SBF may reduce the Aggregate SBF Revolving Commitments in part or terminate the Aggregate SBF Revolving Commitments in whole; provided that any partial reduction shall (A) apply to reduce proportionately and permanently the SBF Revolving Commitment of each Lender and (B) be in an amount of a least $1,000,000 and any larger multiple of $500,000. SBF shall not terminate or reduce the SBF Revolving Commitments if, after giving effect to any concurrent prepayment of the SBF Revolving Loans in accordance with Section 2.11, the SBF Revolving Credit Exposure of all Lenders would exceed the Aggregate SBF Revolving Commitment Amount. Any termination of the Aggregate SBF Revolving Commitments pursuant to this Section 2.7 may not be reinstated. (c) The applicable Borrower Borrowers may terminate (on a non-ratable non‑ratable basis) the unused amount of a the Revolving Commitment of a Defaulting Lender upon not less than five Business Days’ prior notice to the Administrative Agent (which will promptly notify the Lenders thereof), and in such event the provisions of Section 2.21 will apply to all amounts thereafter paid by such Borrower the Borrowers for the account of any such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that such termination will not be deemed to be a waiver or release of any claim such Borrowerthe Borrowers, the Administrative Agent or any Lender may have against such Defaulting Lender. (d) Notwithstanding the foregoing, any notice of a termination of a Commitment the Commitments delivered by the applicable Borrower Borrowers may state that such notice is conditioned upon the effectiveness of one or more other transactions, in which case such notice may be revoked (subject to the payment of amounts due under Section 2.18) by such Borrower the Borrowers (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Optional Reduction and Termination of Revolving Commitments. (a) Unless previously terminated, (i) all SBAC Revolving Commitments shall terminate on the SBAC Revolving Credit Maturity Date and (ii) all SBF Revolving Commitments shall terminate on the SBF Revolving Credit Maturity Date. (b) Upon at least three Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent (which notice shall be irrevocable): ), the Borrowers may reduce the (i) SBAC may reduce the Aggregate SBAC U.S. Revolving Commitments or (ii) Aggregate Global Revolving Commitments, or both, in part or terminate the such Aggregate SBAC Revolving Commitments in whole; provided that any partial reduction shall (A) apply to reduce proportionately and permanently the SBAC applicable Revolving Commitment of each Lender and (B) any partial reduction pursuant to this Section 2.7 shall be in an amount of a at least $1,000,000 and any larger multiple of $500,000. SBAC The Borrowers shall not terminate or reduce the SBAC Revolving Commitments if, after giving effect to any concurrent prepayment of the SBAC U.S. Revolving Loans or Global Revolving Loans, as applicable, in accordance with Section 2.11, the SBAC U.S. Revolving Credit Exposure or Global Revolving Credit Exposure, as applicable, of all such Lenders would exceed the Aggregate SBAC U.S. Revolving Commitment Amount or the Aggregate Global Revolving Commitment Amount, as applicable. Any termination of the Aggregate SBAC U.S. Revolving Commitments pursuant to this Section 2.7(b)(i) may not be reinstated. (ii) SBF may reduce the or Aggregate SBF Global Revolving Commitments in part or terminate the Aggregate SBF Revolving Commitments in whole; provided that any partial reduction shall (A) apply to reduce proportionately and permanently the SBF Revolving Commitment of each Lender and (B) be in an amount of a least $1,000,000 and any larger multiple of $500,000. SBF shall not terminate or reduce the SBF Revolving Commitments ifCommitments, after giving effect to any concurrent prepayment of the SBF Revolving Loans in accordance with Section 2.11as applicable, the SBF Revolving Credit Exposure of all Lenders would exceed the Aggregate SBF Revolving Commitment Amount. Any termination of the Aggregate SBF Revolving Commitments pursuant to this Section 2.7 may not be reinstated. (c) The applicable Borrower Borrowers may terminate (on a non-ratable basis) the unused amount of a the U.S. Revolving Commitment or Global Revolving Commitment, as applicable, of a Defaulting Lender upon not less than five Business Days’ prior notice to the Administrative Agent (which will promptly notify the Lenders thereof), and in such event the provisions of Section 2.21 will apply to all amounts thereafter paid by such Borrower the Borrowers for the account of any such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that such termination will not be deemed to be a waiver or release of any claim such Borrowerthe Borrowers, the Administrative Agent or any Lender may have against such Defaulting Lender. (d) Notwithstanding the foregoing, any notice of a termination of a Commitment the Commitments delivered by the applicable Borrower Borrowers may state that such notice is conditioned upon the effectiveness of one or more other transactions, in which case such notice may be revoked (subject to the payment of amounts due under Section 2.18) by such Borrower the Borrowers (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.