Optional Reduction of Commitments. (a) The Borrower may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is an integral multiple of $10,000,000 and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.11, the Total Outstanding Principal would exceed the Aggregate Commitments thereafter in effect.
(b) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under Section 2.09(a) at least five Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent.
(c) Each reduction of the Commitments pursuant to this Section 2.09 shall be made ratably among the Lenders in accordance with their respective Commitments immediately preceding such reduction.
Optional Reduction of Commitments. The Administrative Borrower shall have the right to terminate or permanently reduce the unused portion of the Aggregate Commitment at any time or from time to time upon not less than three (3) Business Days’ prior written notice to the Administrative Agent (which shall notify the Lenders thereof as soon as practicable) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; provided that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Loans made on the effective date thereof, the Total Outstandings would exceed the Aggregate Commitment after such proposed reduction.
Optional Reduction of Commitments. The Operating Borrower or the Acquisition Borrower may at any time, on three Business Days’ notice to the Administration Agent by way of a Notice of Repayment or Cancellation, permanently reduce the unused portions of the Commitments of the Lenders in respect of the Operating Facility and the Acquisition Facility, respectively, rateably between or among the Lenders, without penalty, bonus or premium. Each partial reduction shall be not less than an aggregate of Cdn.$5,000,000 and in integral multiples of Cdn.$1,000,000.
Optional Reduction of Commitments. Upon at least five Business Days’ notice, the Borrower shall have the right to permanently terminate or reduce the aggregate unused amount of the Commitments at any time or from time to time; provided that each partial reduction shall be in an aggregate amount at least equal to $5,000,000 and in integral multiples of $1,000,000 above such amount and no reduction shall be made that would reduce the Commitments to an amount less than the then Outstanding Credits. Any reduction in (or termination of) the Commitments shall be permanent and may not be reinstated.
Optional Reduction of Commitments. The Borrower may, at its option, permanently reduce the Commitments under any Credit Facility by cancelling all or any part of the undrawn portion of such Credit Facility, provided that:
(a) the Borrower shall provide the Agent or the Operating Facility Lender, as applicable, with at least three Banking Days’ prior written notice of any such cancellation;
(b) each such cancellation shall be a minimum of Cdn. $2,500,000 and in whole multiples of Cdn. $500,000 thereafter;
(c) any such cancellation under the Syndicated Facility shall be allocated on a Pro Rata basis among the Syndicated Facility Lenders; and
(d) any cancellation notice shall be irrevocable.
Optional Reduction of Commitments. (a) The Borrower may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of the Commitments shall be in an amount that is an integral multiple of $5,000,000 and not less than $25,000,000 and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.11, either (A) the sum of the Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans or (B) the aggregate principal amount of Term Loans, would exceed the Aggregate Commitments.
(b) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under Section 2.09(a) at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent.
(c) Each reduction of the Commitments pursuant to this Section 2.09 shall be made ratably among the Lenders in accordance with their respective Commitments immediately preceding such reduction.
Optional Reduction of Commitments. Each of the Borrowers may at any time, on three Business Days’ notice to the Agent or the US Agent (as applicable) by way of a Notice of Repayment or Cancellation, permanently reduce the unused portions of the Commitments of the Lenders under the applicable Credit Facility, rateably among such Lenders, without penalty, bonus or premium. Each partial reduction shall be not less than an aggregate of US$10,000,000 and in integral multiples of US$1,000,000.
Optional Reduction of Commitments. The Borrower may terminate or reduce the aggregate amount of the Commitments by giving the Administrative Agent notice (which shall be irrevocable) thereof no later than 10:00 a.m. (New York time) on the third Business Day before the requested date of such reduction, except that (i) each partial reduction of the aggregate amount of the Commitments shall be in an aggregate amount equal to $1,000,000 or any integral multiple of $500,000 in excess thereof and (ii) no reduction may reduce the aggregate amount of the Commitments to an amount less than the sum of the aggregate principal amount of all Loans and the amount of all Letter of Credit Participations outstanding on such date. Upon receipt of any such notice, the Administrative Agent shall promptly notify each Bank of the contents thereof and the amount to which such Bank's Commitment is to be reduced.
Optional Reduction of Commitments. Xx. Xxxxxx shall have the right to reduce or terminate the amount of unused Commitments at any time or from time to time, provided that: (i) Xx. Xxxxxx shall give notice of each such reduction or termination to the Agent as provided in Section 2.8 (which shall be promptly forwarded by the Agent to the Banks); and (ii) each partial reduction shall be in an aggregate amount at least equal to $[***].
Optional Reduction of Commitments. The Company shall have the right at any time or from time to time upon not less than two (2) Business Days' prior written notice to the Administrative Agent to reduce the Total Commitments of the Banks, in whole or in part, provided that each partial reduction shall be in an aggregate amount of not less than $25,000,000 and an integral multiple of $5,000,000, and shall reduce the respective Commitments of all the Banks proportionately. The Administrative Agent shall give prompt written notice to each Bank of each such reduction. Once the Company voluntarily reduces the Commitments pursuant to this Section 3.13, the Company may not thereafter increase the Commitments.
