Optional Reduction or Termination. The Borrower may, upon prior written notice to the Agent delivered not later than the Required Notice Date, terminate in whole or reduce ratably in part, as of the date specified by the Borrower in such notice, any then unused portion of the Revolving Commitments, PROVIDED that each partial reduction shall be in a Minimum Amount.
Optional Reduction or Termination. The Borrower may, upon prior notice to the Agent as provided herein, terminate in whole or reduce ratably in part, as of the date specified by the Borrower in such notice, any then unused portion of the respective Revolving Commitments (including the L/C Commitments); provided, however, that each partial reduction shall be in a Minimum Amount; and provided further, however, that no such reduction or termination shall be permitted if the Effective Amount of Revolving Loans and L/C Obligations would exceed the amount of the aggregate Revolving Commitments thereafter in effect; and provided further, however, that once reduced in accordance with this Section 5.01, the Revolving Commitment of any Bank may not be increased. The amount of any such Revolving Commitment reductions shall not be applied to the L/C Commitments unless otherwise specified by the Borrower. All accrued commitment and letter of credit fees to, but not including, the effective date of any such reduction or termination shall be payable on the effective date of such reduction or termination.
Optional Reduction or Termination. The Borrower may, upon prior notice to the Agent, terminate in whole or reduce ratably in part, as of the date, and in the amount, specified by the Borrower in such notice, any then unused portion of the Delayed Draw Term Loan Commitment; provided that each partial reduction shall be in a minimum amount of $1,000,000 or a greater amount which is an integral multiple of $1,000,000.
Optional Reduction or Termination of Revolving Credit Aggregate --------------------------------------------------------------- Commitment. The Company may, upon at least three (3) Business Days' prior ---------- written notice to Agent, permanently reduce the Revolving Credit Aggregate Commitment in whole at any time, or in part from time to time, without premium or penalty, provided that: (i) each partial reduction of the Revolving Credit Aggregate Commitment shall be in an aggregate amount equal to at least Five Million Dollars ($5,000,000) or a larger integral multiple of One Million Dollars ($1,000,000); (ii) the Company shall prepay in accordance with the terms hereof the amount, if any, by which the sum of the Outstanding Amount of Advances on such date exceeds Maximum Availability, taking into account the aforesaid reductions thereof, together with accrued but unpaid interest on the principal amount of such prepaid Advances to the date of prepayment; and (iii) no reduction shall reduce the amount of the Revolving Credit Aggregate Commitment to an amount which is less than the Outstanding Amount of Advances at such time. Reductions of the Revolving Credit Aggregate Commitment and any accompanying prepayments of the Revolving Credit Notes shall be distributed by Agent to each Lender in accordance with such Lender's Percentage thereof, and will not be available for reinstatement by or readvance to the Company and any accompanying prepayments of the Swing Line Notes shall be distributed by Agent to the Swing Line Lender and will not be available for reinstatement by or readvance to the Company. Any reductions of the Revolving Credit Aggregate Commitment hereunder shall reduce each Lender's portion thereof proportionately (based upon the applicable Percentages), and shall be permanent and irrevocable. Any payments made pursuant to this Section shall be applied first to outstanding Prime-based Advances under the Swing Line, next to Prime-based Advances under the Revolving Credit, and then to Eurocurrency-based Advances.
Optional Reduction or Termination. The Borrower may, upon prior notice to the Agent as provided herein, terminate in whole or reduce ratably in part, as of the date specified by the Borrower in such notice, any then unused portion of the respective Commitments (including the L/C Commitments); provided, however, that each partial reduction shall be in a Minimum Amount; and provided further, however, that no such reduction or termination shall be permitted if the Effective Amount of Revolving Loans and L/C Obligations would exceed the amount of the aggregate Commitments thereafter in effect. The amount of any such Commitment reductions shall not be applied to the L/C Commitments unless otherwise specified by the Borrower. All accrued commitment and letter of credit fees to, but not including, the effective date of any such reduction or termination shall be payable on the effective date of such reduction or termination.
Optional Reduction or Termination. The Borrowers may, at any time, upon not less than three (3) Business Days prior written notice to the Administrative Agent from the Borrowers’ Agent, reduce the Revolving Commitment Amounts, ratably, with any such reduction in a minimum aggregate amount for all the Banks of $5,000,000, or, if more, in an integral multiple of $1,000,000; provided, however, that the Borrowers may not at any time reduce the Aggregate Revolving Commitment Amounts below the Total Revolving Outstandings. The Borrowers may, at any time when there are no Letters of Credit outstanding, upon not less than three (3) Business Days prior written notice to the Administrative Agent from the Borrowers’ Agent, terminate the Revolving Commitments in their entirety. Upon termination of the Revolving Commitments pursuant to this Section, the Swing Line Commitment shall terminate automatically and the Borrowers shall pay to the Administrative Agent for the account of the Banks the full amount of all outstanding Advances for Revolving Loans and Swing Line Loans, all accrued and unpaid interest thereon, all unpaid Revolving Commitment Fees accrued to the date of such termination, any indemnities payable with respect to Advances pursuant to Section 2.24 and all other unpaid Obligations of the Borrowers to the Administrative Agent and the Banks hereunder.
