Common use of Optional Termination of Commitments Clause in Contracts

Optional Termination of Commitments. Following the occurrence of a Change in Control, the Requisite Lenders may in their sole and absolute discretion elect to terminate the Commitments during the sixty day period immediately subsequent to the later of (a) such occurrence or (b) the earlier of (i) receipt of written notice to the Administrative Agent of the Change in Control from Borrower and the Co-Borrowers, or (ii) if no such notice has been received by the Administrative Agent, the date upon which the Administrative Agent has actual knowledge thereof. In the event that the Lenders elect to so terminate the Commitments, the Commitments shall be terminated effective on the date which is sixty days subsequent to written notice from the Administrative Agent to Borrower and the Co-Borrowers thereof.

Optional Termination of Commitments. Following the occurrence of a Change in Control, the Requisite Lenders may in their sole and absolute discretion elect to terminate the Commitments during the sixty day period immediately subsequent to the later of (a) such occurrence or (b) the earlier of (i) receipt of written notice to the Administrative Agent of the Change in Control from Borrower and the Co-Borrowers, or (ii) if no such notice has been received by the Administrative Agent, the date upon which the Administrative Agent has actual knowledge thereof. In the event that the Lenders elect to so terminate the Commitments, the Commitments shall be terminated (and the Loans shall be due and payable) effective on the date which that is sixty days subsequent to written notice from the Administrative Agent to Borrower and the Co-Borrowers thereof.

Optional Termination of Commitments. Following the occurrence of ----------------------------------- a Change in ControlControl or a Change in Management, the Requisite Lenders may in their sole and absolute discretion elect to terminate the Commitments elect, during the sixty thirty (30) day period immediately subsequent to the later of (a) such occurrence or (b) the earlier of -------- ------- (i) receipt of Borrower's written notice to the Administrative Agent of the Change in Control from Borrower and the Co-Borrowers, such occurrence or (ii) if no such notice has been received by the Administrative Agent, the date upon which the Administrative Agent has actual knowledge thereof. In the event that the Lenders elect , to so terminate the Commitments, in which case the Commitments shall be terminated effective on the date which is sixty (60) days subsequent to written notice from the Administrative Agent to Borrower and the Co-Borrowers thereof.