Common use of Optional Reduction or Termination of Commitments Clause in Contracts

Optional Reduction or Termination of Commitments. (a) The Company may, at any time, upon not less than five Business Days’ prior written notice to the Agent, reduce the Commitments, ratably, with any such reduction in a minimum aggregate amount for all the Lenders of $5,000,000, or an integral multiple thereof, or terminate the Commitments in their entirety; provided, however, that the Company may not at any time reduce the Aggregate Commitment Amount below the Letter of Credit Usage as of the date of such reduction unless the Company reduces the Aggregate Commitment Amount to zero and deposits into the Holding Account an amount equal to the Letter of Credit Usage as of such date. Upon any reduction in the Commitments pursuant to this Section 2.16, the Company shall pay to the Agent for the account of the Lenders the amount, if any, by which the Total Outstandings exceed the Aggregate Commitment Amount after giving effect to such reduction. (b) Upon termination of the Commitments pursuant to this Section, the Company shall pay to the Agent for the account of the Lenders the full amount of all outstanding Loans, all accrued and unpaid interest thereon, all unpaid Facility Fees accrued to the date of such termination, any indemnities payable pursuant to Section 2.27 and all other unpaid Obligations of the Company to the Lenders and the Agent hereunder, and shall deposit into the Holding Account an amount equal to the Letter of Credit Usage as of such date.

Optional Reduction or Termination of Commitments. The Borrower may, at any time, upon no less than three (a3) Business Days prior written or telephonic notice received by the Agent, reduce the Commitments of all Banks, such reduction to be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and to be applied ratably to the Commitments of the respective Banks. Upon any reduction in the Commitments pursuant to this Section, the Borrower shall pay to the Agent for the account of the Banks the amount, if any, by which the aggregate unpaid principal amount of outstanding Loans plus the Letter of Credit Obligations exceeds the total Commitments of all Banks as so reduced. Amounts so paid cannot be reborrowed. The Company Borrower may, at any time, upon not less than five three (3) Business Days’ Days prior written notice to the Agent, reduce the Commitments, ratably, with any such reduction in a minimum aggregate amount for all the Lenders of $5,000,000, or an integral multiple thereof, or terminate the Commitments in their entirety; provided, however, that the Company may not at any time reduce the Aggregate Commitment Amount below the Letter of Credit Usage as of the date of such reduction unless the Company reduces the Aggregate Commitment Amount to zero and deposits into the Holding Account an amount equal to the Letter of Credit Usage as of such date. Upon any reduction in the Commitments pursuant to this Section 2.16, the Company shall pay to the Agent for the account of the Lenders the amount, if any, by which the Total Outstandings exceed the Aggregate Commitment Amount after giving effect to such reduction. (b) Upon termination of the Commitments pursuant to this Section, the Company Borrower shall pay to the Agent for the account of the Lenders Banks the full amount of all outstanding Loans, all accrued and unpaid interest thereon, all unpaid Facility Fees accrued to the date of such termination, any indemnities payable pursuant to Section 2.27 termination and all other unpaid Obligations obligations of the Company Borrower to the Lenders and Banks hereunder. All payments described in this Section are subject to the Agent hereunderprovisions of Section 2.6. Notwithstanding the foregoing, and shall deposit into the Holding Account Commitments may not be terminated or reduced to an amount equal to the below outstanding Letter of Credit Usage as Obligations if Letters of such dateCredit are outstanding.

Optional Reduction or Termination of Commitments. The Borrower may, at any time, upon no less than three (a3) Business Days prior written or telephonic notice received by the Agent, reduce the Commitments of all Banks, such reduction to be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and to be applied ratably to the Commitments of the respective Banks. Upon any reduction in the Commitments pursuant to this Section, the Borrower shall pay to the Agent for the account of the Banks the amount, if any, by which the aggregate unpaid principal amount of outstanding Loans plus the Letter of Credit Obligations exceeds the total Commitments of all Banks as so reduced. Amounts so paid cannot be reborrowed. The Company Borrower may, at any time, upon not less than five three (3) Business Days’ Days prior written notice to the Agent, reduce the Commitments, ratably, with any such reduction in a minimum aggregate amount for all the Lenders of $5,000,000, or an integral multiple thereof, or terminate the Commitments in their entirety; provided, however, that the Company may not at any time reduce the Aggregate Commitment Amount below the Letter of Credit Usage as of the date of such reduction unless the Company reduces the Aggregate Commitment Amount to zero and deposits into the Holding Account an amount equal to the Letter of Credit Usage as of such date. Upon any reduction in the Commitments pursuant to this Section 2.16, the Company shall pay to the Agent for the account of the Lenders the amount, if any, by which the Total Outstandings exceed the Aggregate Commitment Amount after giving effect to such reduction. (b) Upon termination of the Commitments pursuant to this Section, the Company Borrower shall pay to the Agent for the account of the Lenders Banks the full amount of all outstanding Loans, all accrued and unpaid interest thereon, all unpaid Facility Fees accrued to the date of such termination, any indemnities payable pursuant to Section 2.27 termination and all other unpaid Obligations obligations of the Company Borrower to the Lenders and the Agent Banks hereunder, and shall deposit into the Holding Account an amount equal . All payments described in this Section are subject to the Letter provisions of Credit Usage as of such date.SECTION