Common use of Optional Reduction Clause in Contracts

Optional Reduction. The Company shall have the right to terminate or to reduce the Aggregate Commitments at any time or from time to time upon not less than one (1) Business Day's prior written notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $5,000,000, or any whole multiple of $1,000,000 in excess thereof). Such notice shall be irrevocable and effective only upon receipt by the Administrative Agent.

Optional Reduction. The Company shall have the right to terminate or to reduce the Aggregate amount of the Commitments at any time or from time to time upon not less than one (1) Business Day's prior written notice to the Administrative Agent (which shall promptly notify the Lenders) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which shall not be less than $5,000,000, or any whole multiple of $1,000,000 in excess thereof). Such notice , and shall be irrevocable and effective only upon receipt by the Administrative Agent.