Common use of Optional Revolving Credit Terminations Clause in Contracts

Optional Revolving Credit Terminations. The Borrower shall have the right at any time and from time to time, upon 3 Business Days prior written notice to the Agent, to terminate the Revolving Credit Commitments without premium or penalty and in whole or in part, any partial termination to be (i) in an amount not less than $1,000,000 and (ii) allocated ratably among the Banks in proportion to their respective Revolver Percentages, provided that the Revolving Credit Commitments may not be reduced to an amount less than the sum of the aggregate principal amount of Revolving Loans and of L/C Obligations then outstanding. Any termination of the Revolving Credit Commitments below $2,500,000 shall reduce the L/C Commitment by a like amount. The Agent shall give prompt notice to each Bank of any such termination of the Revolving Credit Commitments.

Optional Revolving Credit Terminations. The Borrower shall have the right at any time and from time to time, upon 3 five (5) Business Days prior written notice to the AgentBank (or such shorter period of time agreed to by Bank), to terminate the Revolving Credit Commitments Commitment without premium or penalty and in whole or in part, any partial termination to be (i) in an amount not less than $1,000,000 and (ii) allocated ratably among the Banks in proportion to their respective Revolver Percentages, 500,000 or such greater amount which is an integral multiple of $100,000; provided that the Revolving Credit Commitments Commitment may not be reduced to an amount less than the sum of the aggregate principal amount of Revolving Loans and of L/C Obligations then outstanding. Any termination of the Revolving Credit Commitments Commitment below $2,500,000 the L/C Sublimit then in effect shall reduce the L/C Commitment Sublimit by a like amount. The Agent shall give prompt notice to each Bank of any such termination of the Revolving Credit Commitments.

Optional Revolving Credit Terminations. The Borrower shall have the right at any time and from time to time, upon 3 Business Days prior written notice to the Agent, to terminate the Revolving Credit Commitments without premium or penalty and in whole or in part, any partial termination to be (i) in an amount not less than $1,000,000 and (ii) allocated ratably among the Banks in proportion to their respective Revolver Percentages, provided that the Revolving Credit Commitments may not be reduced to an amount less than the sum of the aggregate principal amount of Revolving Loans and of L/C Obligations then outstanding. Any termination of the Revolving Credit Commitments below $2,500,000 4,000,000 shall reduce the L/C Commitment by a like amount. The Agent shall give prompt notice to each Bank of any such termination of the Revolving Credit Commitments.

Optional Revolving Credit Terminations. The Borrower shall have the right at any time and from time to time, upon 3 Business Days prior written notice to the Agent, to terminate the Revolving Credit Commitments without premium or penalty and in whole or in part, any partial termination to be (i) in an amount not less than $1,000,000 and (ii) allocated ratably among the Banks in proportion to their respective Revolver Percentages, provided that the Revolving Credit Commitments may not be reduced to an amount less than the sum of the aggregate principal amount of Revolving Loans and of L/C Obligations then outstanding. Any termination of the Revolving Credit Commitments below $2,500,000 5,000,000 shall reduce the L/C Commitment by a like amount. The Agent shall give prompt notice to each Bank of any such termination of the Revolving Credit Commitments.