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

Optional Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Credit Commitments or, from time to time, to reduce the amount of the Revolving Credit Commitments. Any such reduction shall be in an aggregate amount equal to $10,000,000 or an integral multiple of $1,000,000 in excess thereof and shall reduce permanently the Revolving Credit Commitments then in effect; and such reductions shall be applied ratably to reduce the then remaining installments described in subsection 2.7(a).

Optional Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Revolving Credit Commitments or, from time to time, to reduce the amount of the Revolving Credit Commitments; provided that no such termination or reduction of Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Loans, the Total Loans would exceed the Total Commitments. Any such reduction shall be in an aggregate amount equal to $10,000,000 10,000,000, or an integral multiple of $1,000,000 in excess thereof thereof, and shall reduce permanently the Revolving Credit Commitments then in effect; and such reductions shall be applied ratably to reduce the then remaining installments described in subsection 2.7(a).