Optional Reductions of Commitments. The Company shall have the right at any time or from time to time (i) so long as no Syndicated Loans, L/C Obligations or Money Market Loans are outstanding, to terminate the Commitments and (ii) to reduce the aggregate unused amount of the Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate principal amount of all Money Market Loans); provided that (x) the Company shall give notice of each such termination or reduction as provided in Section 4.05 hereof and (y) each partial reduction shall be in an aggregate amount at least equal to $25,000,000 (or a larger multiple of $1,000,000).
Optional Reductions of Commitments. The Borrowers shall have the right at any time or from time to time (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities in respect of Revolving Credit Letters of Credit are outstanding, to terminate the Revolving Credit Commitments, (ii) so long as no Incremental Facility Revolving Credit Loans or Incremental Facility Letters of Credit of a Series are outstanding, to terminate the Incremental Facility Commitments of such Series and (iii) to reduce the aggregate unused amount of the Revolving Credit Commitments or Incremental Facility Revolving Credit Commitments of any Series (for which purpose use of such Commitments shall be deemed to include the aggregate amount of Letter of Credit Liabilities in respect of Letters of Credit issued under such Commitments); provided that (x) the Borrowers shall give notice of each such termination or reduction as provided in Section 4.05, (y) each partial reduction shall be in an aggregate amount at least equal to $1,000,000 (or a larger multiple of $500,000) and (z) each such reduction of Commitments shall be applied ratably to the Commitments of each Class; provided that in connection with the establishment of Replacement Revolving Credit Commitments, the Commitments of any existing Class of the Lenders providing Replacement Revolving Credit Commitments may be reduced on a non-pro rata basis with the Commitments of such Class of other Lenders as directed by the Borrowers.
Optional Reductions of Commitments. The Borrowers shall have the right at any time or from time to time (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities in respect of Revolving Credit Letters of Credit are outstanding, to terminate the Revolving Credit Commitments, (ii) so long as no Incremental Facility Revolving Credit Loans or Incremental Facility Letters of Credit of a Series are outstanding, to terminate the Incremental Facility Commitments of such Series and (iii) to reduce the aggregate unused amount of the Revolving Credit Commitments or Incremental Facility Revolving Credit Commitments of any Series (for which purpose use of such Commitments shall be deemed to include the aggregate amount of Letter of Credit Liabilities in respect of Letters of Credit issued under such Commitments); provided that (x) the Borrowers shall give notice of each such termination or reduction as provided in Section 4.05 hereof, (y) each partial reduction shall be in an aggregate amount at least equal to $1,000,000 (or a larger multiple of $500,000) and (z) each such reduction of Commitments shall be applied ratably to the Commitments of each Class.
Optional Reductions of Commitments. (1) The Parent may, subject to the provisions of this Agreement and without penalty or bonus, prepay Accommodations Outstanding under the Credit Facility and/or reduce the Commitment, in each case, in whole or, subject to the next following sentence, in part, upon the number of Business Days’ notice to the Agent specified in Schedule 5 by a notice (a “Payment Reduction Notice”) substantially in the form of Schedule 10, which shall be irrevocable and binding on the Borrowers and which shall specify the proposed date and aggregate principal amount of the prepayment or reduction. In such case, the Borrowers shall pay to the applicable Lenders in accordance with such notice the amount of such prepayment or the amount by which the Accommodations Outstanding under the Credit Facility exceed the proposed reduced Commitment. Each partial prepayment or reduction shall be in a minimum aggregate principal amount of U.S.$500,000 and an integral multiple of U.S.$100,000. Notwithstanding the foregoing, the Parent may permanently reduce the Commitment of a Defaulting Lender in accordance with Section 2.13.
Optional Reductions of Commitments. Subject to the following sentence, the Borrowers may elect to reduce any Commitment, in whole or in part, by (i) giving the Agent not less than five Business Days' prior written notice thereof, and (ii) paying to the Agent for the ratable account of the Banks the amount by which the sum of all outstanding Loans thereunder exceeds such Commitment as so reduced, together with any accrued and unpaid interest and fees thereon. (A) No optional reduction of any Commitment pursuant to this Section 1.7 shall be effective prior to the 90th day after the Effective Date, (B) there shall be no more than one optional reduction of any Commitment pursuant to this Section 1.7 during any calendar quarter, (C) partial reductions of Commitments of any Class pursuant to this Section 1.7 shall be in incremental amounts of $5,000,000, and (D) no optional reduction of a Commitment which causes the prepayment of a Eurodollar Loan will be permitted.
Optional Reductions of Commitments. Borrower Representative may, at its option from time to time upon not less than 3 Business Days' prior written notice to Administrative Agent, terminate in whole or permanently reduce ratably in part, the unused portion of the Domestic Revolving Credit Commitments and the Canadian Revolving Credit Sub-Limit, provided, however, that with respect to any reduction of the Domestic Revolving Credit Commitments, (a) each such partial reduction shall be in an amount of $2,000,000 or integral multiples of $1,000,000 in excess thereof and (b) the aggregate of all optional reductions to the Domestic Revolving Credit Commitments may not exceed $5,000,000 during any 12 month period or $15,000,000 during the Term, and provided, further, however, that with respect to any reduction of the Canadian Revolving Credit Sub-Limit, each such partial reduction shall be in an amount of $100,000 or integral multiples of $100,000 in excess thereof. Except for charges under Section 3.2.5 applicable to prepayments of LIBOR Loans and Canadian Fixed Rate Loans and except for charges under Section 2.7 applicable to termination of the credit facilities provided pursuant to this Agreement, such prepayments shall be without premium or penalty.
Optional Reductions of Commitments. The Borrower may, subject to the provisions of this Agreement, after the expiry of the Certain Funds Period, reduce the Commitment in whole or, subject to the next following sentence, in part, upon the number of Business Days notice to the Administrative Agent specified in Schedule 3 by a notice stating the proposed date and aggregate principal amount of the reduction. In such case, the Borrower shall pay to the Lenders in accordance with such notice the amount by which the Accommodations Outstanding under the Credit Facility exceed the proposed reduced Commitment and the Borrower shall also pay to the Lenders breakage fees, if any, associated with any reduction or related prepayment. Each partial prepayment shall be in a minimum aggregate principal amount of €5,000,000 or the Equivalent Amount in U.S.$ and in an integral multiple of €1,000,000 or the Equivalent Amount in U.S.$. Each partial reduction of the Commitment shall be in a minimum amount of €5,000,000 and in an integral multiple of €1,000,000. The Borrower shall make each such payment (i) in Euros, if the Accommodation was originally made in Euros, and (ii) in U.S. Dollars if the Accommodation was originally made in U.S. Dollars.
Optional Reductions of Commitments. The Borrowers shall have the right at any time or from time to time (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities in respect of Revolving Credit Letters of Credit are outstanding, to terminate the
Optional Reductions of Commitments. Subject to the following sentence, the Borrower may elect to reduce any Commitment, in whole or in part, by (i) giving the Agent not less than 30 Business Days' prior written notice thereof, (ii) in the case of the Revolving Credit Commitment and the Term Loan Commitment, paying to the Agent for the ratable account of the Lenders the amount by which the sum of all outstanding Loans thereunder exceeds such Commitment as so reduced, together with any accrued and unpaid interest and fees thereon. Partial reductions of Commitments of any Class pursuant to this Section 1.7 shall be in incremental amounts of $1,000,000.
Optional Reductions of Commitments. The Borrower shall have the right, upon not less than three Business Days notice to the Administrative Agent, from time to time, to reduce the unutilized amount of the Revolving Credit Commitments; PROVIDED that no such termination or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Loans made on the effective date thereof, the Dollar Equivalent of the Aggregate Outstanding Revolving Extensions of Credit would exceed the Revolving Credit Commitments then in effect. Any such reduction shall be in an amount equal to $500,000 or a whole multiple thereof and shall reduce permanently the Revolving Credit Commitments then in effect.
