Optional Reduction of the Commitments. The Borrower shall have the right, upon at least five Business Days notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Banks, provided that each partial reduction shall be in the aggregate amount of at least $10,000,000, and provided further, that the aggregate amount of the Commitments of the Banks shall not be reduced to an amount which is less
Optional Reduction of the Commitments. The Company shall have the right, upon at least three Business Days’ notice to the Administrative Agent by the Company, to terminate in whole or permanently reduce ratably in part the unused portions of the respective Revolving Commitments, Swing Line Commitments or, prior to the Merger Date, the Tranche A1 Commitments, the Tranche A2 Commitments or the Term Loan B Commitments of the Lenders in respect of any Facility, provided that the aggregate amount of the Commitments of the Lenders under any Revolving Facility shall not be reduced to an amount which is less than the aggregate principal amount of the Advances then outstanding under such Revolving Facility, and provided, further, that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof. A notice of reduction or termination of the Commitments delivered by the Company pursuant to this Section 2.05(a) may state that such notice is conditioned on the effectiveness of other credit facilities or the availability of a source of funds for the prepayment in full of the obligations under this Agreement, in which case, such notice may be revoked or extended by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.
Optional Reduction of the Commitments. The Company shall have the right, upon at least four Business Days' prior notice to the Agent (which notice shall be irrevocable), at any time permanently to terminate the remaining Commitments in whole or reduce ratably in part the unused portions of the Commitments of the Lenders, allocated between Tranche A Commitments or Tranche B Commitments, as the Company may elect; provided, however, that each partial reduction shall be in the aggregate amount of $20,000,000 or an integral multiple of $10,000,000 in excess thereof. No reduction in the Commitments shall reduce the L/C Commitment until the aggregate Commitments are reduced to $150,000,000, after which each reduction in the Commitments shall reduce the L/C Commitment dollar for dollar. The Agent shall promptly notify each Lender of its receipt of any notice under this Section 2.06.
Optional Reduction of the Commitments. The Borrower shall have the right, upon at least two Business Days’ irrevocable notice to the Administrative Agent, to terminate in whole or reduce ratably in part the respective Commitments of the Banks; provided that (i) each partial reduction shall be in the aggregate amount of $10,000,000 or in an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made which would reduce the Commitments to an amount less than the aggregate outstanding principal amount of the Advances and Special Rate Loans. The Administrative Agent shall promptly thereafter notify each Bank of such termination or reduction.
Optional Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days' notice to the Agent, permanently to terminate in whole or reduce ratably in part the Unused Commitments; provided that (a) each partial reduction shall be in the aggregate amount of $3,000,000 or an integral $1,000,000 multiple in excess thereof, (b) each reduction shall be made ratably among the Banks in accordance with their Unused Commitments, (c) no reduction may reduce the aggregate Commitments of the Banks below the aggregate amount of the then outstanding Letter of Credit Liability and the then outstanding principal amount of the Competitive Bid Advances, and (d) no reduction may reduce the aggregate Commitments of the Banks while any commitments to lend are in effect under the $150,000,000 Credit Agreement.
Optional Reduction of the Commitments. The Company shall ------------------------------------- have the right, upon at least four Business Days' prior notice to the Agent (which notice shall be irrevocable), at any time permanently to terminate the remaining Commitments in whole or reduce ratably in part the unused portions of the Commitments of the Lenders; provided, however, that each partial reduction -------- ------- shall be in the aggregate amount of $20,000,000 or an integral multiple of $10,000,000 in excess thereof. The Agent shall promptly notify each Lender of its receipt of any notice under this Section 2.06. ------------
Optional Reduction of the Commitments. The Borrower shall have the right, upon at least two Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the respective Commitments of the Banks; provided that (i) each partial reduction shall be in the aggregate amount of $10,000,000 or in an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made which would reduce the Commitments to an amount less than the aggregate outstanding principal amount of the Advances and Special Rate Loans. The Administrative Agent shall promptly thereafter notify each Bank of such termination or reduction. Each notice delivered by the Borrower pursuant to this Section 2.06 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 one or more credit facilities, in which case such notice may be provided to the Administrative Agent on the same day of such termination and 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.
Optional Reduction of the Commitments. The Borrower may, upon at least 3 Business Days' notice to the Agent, terminate in whole or reduce in part the Unused Revolving Commitments which notice shall specify the Facility or Facilities to be reduced or terminated and the amount of any partial reduction; provided, however, that each partial reduction of a Facility (i) shall be in an aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) shall be made ratably among the Lenders in accordance with their Commitments with respect to such Facility (except with respect to the Swing Line Facility).
Optional Reduction of the Commitments. The Borrower may, upon at least three (3) Business Days’ written notice to the Administrative Agent, terminate in whole or reduce ratably in part the respective Commitments of the Banks on a permanent basis; provided that in the case of any partial reduction of the Commitments, such partial reduction shall be in an aggregate amount not less than the lesser of $20,000,000 (or an integral multiple of $5,000,000 in excess thereof). Such notice of termination or reduction may be conditioned on the effectiveness of other credit facilities, an acquisition, investment, Change of Control or any other financing or sale transaction. All fees accrued until the effective date of any termination of the Commitments shall be paid on the effective date of such termination.
Optional Reduction of the Commitments. The Borrower shall have the right, upon at least three Business Days’ notice to the Agent by the Borrower, such notice to be received by the Agent not later than 12:00 noon (New York City time), to terminate in whole or permanently reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount which is less than the aggregate principal amount of the Advances then outstanding, and provided, further, that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof.
