Optional Reduction or Termination of Buyers’ Commitments. The Seller may, at any time, without premium or penalty, upon not less than 10 Business Days’ prior written notice to the Administrative Agent, reduce or terminate the Maximum Aggregate Commitment, subject to the following conditions: (i) any such reduction in the Maximum Aggregate Commitment shall be in a minimum aggregate amount for all the Buyers of $25,000,000, or, if more, in an integral multiple of $25,000,000; (ii) the Seller may reduce the Maximum Aggregate Commitment no more than once each calendar quarter, (iii) at no time may the Aggregate Outstanding Purchase Price exceed the Maximum Aggregate Commitment after giving effect to any reduction in the Maximum Aggregate Commitment; and (iv) unless terminated in full, the Maximum Aggregate Commitment shall not be reduced to less than $100,000,000. Upon termination of the Buyers’ Commitments pursuant to this Section 2.6, the Seller shall pay to the Administrative Agent for the ratable benefit of the Buyers the full amount of all outstanding Obligations under the Repurchase Documents.
Optional Reduction or Termination of Buyers’ Commitments. The Seller may, at any time, without premium or penalty, upon not less than ten (10) Business Days prior written notice to the Buyer, reduce or terminate the Buyer’s Committed Sum, with any such reduction in a minimum amount of Five Million Dollars ($5,000,000), or, if more, in an integral multiple of Five Million Dollars ($5,000,000); provided, however, that (a) the Seller may reduce the Buyer’s Committed Sum no more than once each calendar quarter, (b) at no time may the Aggregate Outstanding Purchase Price exceed the Buyer’s Committed Sum after giving effect to any such reduction, and (c) unless terminated in full, the Buyer’s Committed Sum shall not be reduced to less than Ten Million Dollars ($10,000,000). Upon termination of the Buyer’s Commitment pursuant to this Section 2.3, the Seller shall pay to the Buyer the full amount of all outstanding Obligations under the Repurchase Documents.
Optional Reduction or Termination of Buyers’ Commitments. Section 2.6 of the Repurchase Agreement is amended to read in its entirety as follows:
Optional Reduction or Termination of Buyers’ Commitments. The Seller may, at any time, without premium or penalty, upon not less than ten (10) Business Days prior written notice to the Administrative Agent, reduce or terminate the Maximum Aggregate Commitment or the facility for Discretionary Purchases, subject to the following conditions: (i) any such reduction in either the Maximum Aggregate Commitment or the Discretionary Facility Amount shall be in a minimum aggregate amount for all the Buyers of $25,000,000, or, if more, in an integral multiple of $25,000,000; (ii) the Seller may reduce the Maximum Aggregate Commitment or the Discretionary Facility Amount no more than once each calendar quarter, (iii) at no time may the Aggregate Outstanding Purchase Price exceed the Maximum Aggregate Commitment after giving effect to any reduction in the Maximum Aggregate Commitment; (iv) at no time may the aggregate outstanding Purchase Price of all Discretionary Purchases exceed the Discretionary Facility Amount; and (v) unless terminated in full, the Maximum Aggregate Commitment shall not be reduced to less than $100,000,000. Upon termination of the Buyers’ Commitments and the facility for Discretionary Purchases pursuant to this Section, the Seller shall pay to the Administrative Agent for the ratable benefit of the Buyers the full amount of all outstanding Obligations under the Repurchase Documents.
