Common use of Optional Reduction of Commitments Clause in Contracts

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. 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 10,000,000 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 CreditsBorrowings. Any reduction in (or termination of) the Commitments shall be permanent and may not be reinstated.

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 10,000,000 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.