Common use of Optional Termination or Reduction of Commitment Clause in Contracts

Optional Termination or Reduction of Commitment. Upon at least three (3) Business Days’ prior written notice to the Administrative Agent, the Borrowers may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Unused Total Commitment. Each such reduction or termination, as applicable, of the Unused Total Commitment shall be in the principal amount of $1,000,000 or any integral multiple of $1,000,000 in excess thereof. Any reduction or termination, as applicable, pursuant to this Section shall be deemed to be a reduction or termination, as applicable, in the amount of such reduction or termination of the Total Commitment and shall be applied (x) pro rata to reduce the applicable Tranche A Commitment of each Tranche A Lender until the Total Tranche A Commitment is zero and (y) thereafter pro rata to reduce the applicable Tranche B Commitment of each Tranche B Lender. Simultaneously with each reduction or termination, as applicable, of the Unused Total Commitment, the Borrowers shall pay to the Administrative Agent for the account of each Lender the Commitment Fee accrued on the amount of the Commitment of such Lender so terminated or reduced through the date thereof.

Optional Termination or Reduction of Commitment. Upon at ----------------------------------------------- least three two (32) Business Days’ ' prior written notice to the Administrative Agent, the Borrowers may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Unused Total Commitment. Each such reduction or termination, as applicable, of the Unused Total Commitment shall be in the principal amount of $1,000,000 5,000,000 or any integral multiple of $1,000,000 in excess thereof. Any reduction or termination, as applicable, of the Unused Total Commitment pursuant to this Section shall be deemed to be a reduction or termination, as applicable, in the amount of such reduction or termination of the Total Commitment and shall be applied (x) pro rata to reduce the applicable Tranche A Commitment of each Tranche A Lender until the Total Tranche A Commitment is zero and (y) thereafter pro rata to reduce the applicable Tranche B Commitment of each Tranche B Lender. Simultaneously with each reduction or termination, as applicable, of the Unused Total Commitment, the Borrowers shall pay to the Administrative Agent for the account of each Lender the Commitment Fee accrued on the amount of the Commitment of such Lender so terminated or reduced through the date thereof.

Optional Termination or Reduction of Commitment. Upon at least three (3) two Business Days’ ' prior written notice to the Administrative Agent, the Borrowers Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Total Commitments in an amount equal to or less than the Unused Total Commitment. Each such reduction or termination, as applicable, of the Unused Total Commitment Commitments, shall be in the principal amount of $1,000,000 5,000,000 or any integral multiple of $1,000,000 in excess thereof. Any reduction or termination, as applicable, pursuant to this Section shall be deemed to be a reduction or termination, as applicable, in the amount of such Simultaneously with each reduction or termination of the Total Commitment and shall be applied (x) pro rata to reduce the applicable Tranche A Commitment of each Tranche A Lender until the Total Tranche A Commitment is zero and (y) thereafter pro rata to reduce the applicable Tranche B Commitment of each Tranche B Lender. Simultaneously with each reduction or termination, as applicable, of the Unused Total CommitmentCommitments, the Borrowers Borrower shall pay to the Administrative Agent for the account of each New Revolving Lender the Commitment Fee accrued on the amount of the respective Commitment of such New Revolving Lender so terminated or reduced through the date thereof. Any reduction of the Total Commitments pursuant to this Section shall be applied pro rata to reduce the Commitment of each New Revolving Lender. If, at any time, the Borrower elects to reduce the Total Commitments to an amount less than the Documentary Reserve, such reduction shall not take effect until the Agent shall have notified the Documentary Letter of Credit Fronting Bank thereof (whereupon the Documentary Reserve shall be reduced by the amount necessary so that it does not exceed the Total Commitments as so reduced).

Optional Termination or Reduction of Commitment. Upon at least not less than three (3) Business Days’ ' prior written notice to the Administrative Agent, the Borrowers Borrower may at any time time, without premium or penalty, in whole permanently terminate, or from time to time in part permanently reduce, the Unused Total Commitment; provided that no such termination or reduction of the Total Commitment shall be permitted if, after giving effect thereto and to any prepayments of the Loans related to such Total Commitment reduction, the Total Outstandings at such time would exceed either (i) the Total Commitment or (ii) the Borrowing Base. Each such partial reduction or termination, as applicable, of the Unused Total Commitment shall be in the principal amount of $1,000,000 or any integral a whole multiple of $1,000,000 in excess thereof. Any reduction or termination, as applicable, pursuant to this Section shall be deemed to be a reduction or termination, as applicable, in the amount of such reduction or termination of the Total Commitment and shall be applied (x) pro rata to reduce the applicable Tranche A Commitment of each Tranche A Lender until the Total Tranche A Commitment is zero and (y) thereafter pro rata to reduce the applicable Tranche B Commitment of each Tranche B Lender. Simultaneously with each any termination or reduction or termination, as applicable, of the Unused Total Commitment, the Borrowers Borrower shall pay to the Administrative Agent for the account of each Lender the Commitment Fee accrued on the amount of the Commitment of such Lender so terminated or reduced through the date thereof. Any reduction of the Total Commitment pursuant to this Section 2.10 shall be applied pro rata in accordance with each Lender's Commitment Percentage to reduce the Commitment of each such Lender.