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

Optional Termination and Reduction of Commitments. (i) The Borrower may at any time terminate, or from time to time reduce, the total Commitments; provided that (A) each reduction of the total Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $10,000,000 and (B) the Borrower shall not terminate or reduce the total Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(c), the total Credit Exposures would exceed the total Commitments. (ii) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the total Commitments under Section 2.07(b)(i) at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.07(b)(ii) shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Optional Termination and Reduction of Commitments. (i) The Borrower may at any time terminate, or from time to time reduce, the total Commitments; provided that (Aa) each reduction of the total Commitments shall be in an amount that is an integral multiple of $1,000,000 5,000,000 and not less than $10,000,000 and (Bb) the Borrower shall not terminate or reduce the total Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans in accordance with Section 3.04(c3.04(a)(ii), the total Revolving Credit Exposures would exceed the total Commitments. (ii) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the total Commitments under Section 2.07(b)(i2.06(b)(i) at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.07(b)(ii2.06(b)(ii) shall be irrevocable; , provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Optional Termination and Reduction of Commitments. (ia) The Borrower WIL may at any time terminate, or from time to time reduce, the total CommitmentsCommitxxxxx; provided that (Ai) each reduction of the total Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $10,000,000 5,000,000 and (Bii) the Borrower WIL shall not terminate or reduce the total Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(c)2.07, the total Revolving Credit Exposures would exceed the total Commitments. (iib) The Borrower WIL shall notify the Administrative Agent of any election to terminate or reduce the total Commitments under paragraph (b) of this Section 2.07(b)(i) at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower WIL pursuant to this Section 2.07(b)(ii) shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower WIL may state that such notice is conditioned upon the effectiveness of other ox xxxxx credit facilities, in which case such notice may be revoked by the Borrower WIL (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments.

Optional Termination and Reduction of Commitments. (i) The Borrower may at any time terminate, or from time to time reduce, the total CommitmentsCommitments within a specific Class; provided that (A) each such reduction of the total Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $10,000,000 and (B) the Borrower shall not terminate or reduce the total Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(c), the total Credit Exposures would exceed the total Commitments5,000,000. (ii) The Borrower shall notify the Administrative Agent in writing of any election to terminate or reduce the total Commitments of a specific Class under Section 2.07(b)(i2.07(c)(i) at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.07(b)(ii2.07(c)(ii) shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of any other credit facilitiesfacilities or any other transaction, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of Commitments provided pursuant to this Section 2.07(c) shall be permanent and may not be reinstated. Each reduction of the Commitments shall be made ratably among the Lenders within the applicable Class in accordance with their respective Commitments in such Class.