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). (b) The Borrower shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Term Loan Commitments or, from time to time, to reduce the amount of the Term Loan Commitments. Any such reduction shall be in an amount equal to $10,000,000 or an integral multiple of $1,000,000 in excess thereof and shall reduce permanently the Term Loan Commitments then in effect.

Optional Termination or Reduction of Commitments. (a) The Borrower shall have the right, upon not less than three (3) 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 ; provided that no such termination or reduction of the Revolving Commitments shall be in an aggregate amount equal permitted if, after giving effect thereto and to $10,000,000 or an integral multiple any prepayments of $1,000,000 in excess thereof and shall reduce permanently Revolving Loans made on the effective date thereof, the Total Revolving Extensions of Credit Commitments then in effect; and such reductions shall be applied ratably to reduce would exceed the then remaining installments described in subsection 2.7(a). (b) The Borrower shall have the right, upon not less than three Business Days' notice to the Administrative Agent, to terminate the Term Loan Commitments or, from time to time, to reduce the amount of the Term Loan Total Revolving Commitments. Any such reduction shall be in an amount equal to $10,000,000 500,000, or an integral a whole multiple of $1,000,000 100,000 in excess thereof (or an amount equal to the aggregate Available Revolving Commitments of all Revolving Lenders) and shall ratably reduce permanently the Term Loan Revolving Commitments then in effect.