Common use of Optional Reduction of the Commitments Clause in Contracts

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, however, 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. 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 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, however, 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, 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 AdvancesAdvances and Special Rate Loans. The Administrative Agent shall promptly thereafter notify each Bank of such termination or reduction.