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

Optional Termination or Reduction of Commitments. (a) The Borrowers shall have the right at any time and from time to time prior to the Termination Date upon three Business Days’ (or such shorter period as the Administrative Agent shall agree) prior written notice to the Administrative Agent to reduce by $50,000,000 or a larger integral multiple of $10,000,000 the unborrowed portion of the aggregate Tranche A Commitment Amounts and/or the aggregate Tranche B Commitment Amounts of the Banks or terminate entirely each Bank’s Commitment, whereupon such Commitment Amounts of each of the Banks shall be reduced pro rata in accordance with their Commitment Percentages of the amount specified in such notice or, as the case may be, each Bank’s Commitment shall be terminated. Promptly after receiving any notice of the Borrowers delivered pursuant to this Section, the Administrative Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers severally (and neither jointly nor jointly and severally) shall pay to the Administrative Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction in the Commitment Amounts or termination of the Commitments may be reinstated.

Optional Termination or Reduction of Commitments. (a) The Borrowers shall have the right at any time and from time to time prior to the Termination Date upon three Business Days’ (or such shorter period as the Administrative Agent shall agree) prior written notice to the Administrative Agent to reduce by $50,000,000 or a larger integral multiple of $10,000,000 the unborrowed portion of the aggregate Tranche A Commitment Amounts and/or the aggregate Tranche B Commitment Amounts of the Banks or terminate entirely each Bank’s Commitment, whereupon such Commitment Amounts of each of the Banks shall be reduced pro rata in accordance with their Commitment Percentages of the amount specified in such notice or, as the case may be, each Bank’s Commitment shall be terminated. Promptly after receiving any notice of the Borrowers delivered pursuant to this Section, the Administrative Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers severally (and neither jointly nor jointly and severally) Borrower shall pay to the Administrative Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction in the Commitment Amounts or termination of the Commitments may be reinstated.

Optional Termination or Reduction of Commitments. (a) The Borrowers shall have the right Borrower may, upon at any time and from time to time prior to the Termination Date upon least three (3) Business Days’ (or such shorter period as the Administrative Agent shall agree) prior written notice to the Administrative Agent Agent, terminate at any time, or reduce the Commitments from time to reduce time by an aggregate amount of at least $50,000,000 5,000,000 or a any larger integral multiple of $10,000,000 1,000,000; provided that the unborrowed portion Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of Loans in accordance with Section 2.10 or Section 2.11, the aggregate outstanding principal amount of all Loans of any Bank shall exceed the amount of its Commitment as so reduced. Each notice delivered by the Borrower pursuant to this Section 2.08(a) shall be revocable (which revocation shall be made by written notice to that effect from the Borrower to the Administrative Agent) until the specified date of the aggregate Tranche A Commitment Amounts and/or termination or reduction and (b) without limiting clause (a) above, may state that such notice is conditioned upon the aggregate Tranche B Commitment Amounts occurrence of one or more events specified therein, in which case such notice may be revoked by the Borrower (which revocation shall be made by written notice to that effect from the Borrower to the Administrative Agent) on or prior to the specified date of the termination or reduction if such condition is not satisfied. Promptly following receipt of any such notice, the Administrative Agent shall advise the Banks or terminate entirely each Bank’s Commitment, whereupon such Commitment Amounts of each of the Banks contents thereof. Any termination or reduction of the Commitments pursuant to this Section 2.08 shall be reduced pro rata permanent. Each reduction of the Commitments pursuant to this Section 2.08 shall be made ratably among the Banks in accordance with their Commitment Percentages of the amount specified in such notice or, as the case may be, each Bank’s Commitment shall be terminated. Promptly after receiving any notice of the Borrowers delivered pursuant to this Section, the Administrative Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers severally (and neither jointly nor jointly and severally) shall pay to the Administrative Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction in the Commitment Amounts or termination of the Commitments may be reinstatedCommitments.

Optional Termination or Reduction of Commitments. (a) The Borrowers shall have the right at any time and from time to time prior to the Termination Date upon three Business Days’ ' (or such shorter period as the Administrative Agent shall agree) prior written notice to the Administrative Agent to reduce by $50,000,000 or a larger integral multiple of $10,000,000 the unborrowed portion of the aggregate Tranche A Commitment Amounts and/or the aggregate Tranche B Commitment Amounts of the Banks or terminate entirely each Bank’s 's Commitment, whereupon such Commitment Amounts of each of the Banks shall be reduced pro rata in accordance with their Commitment Percentages of the amount specified in such notice or, as the case may be, each Bank’s 's Commitment shall be terminated. Promptly after receiving any notice of the Borrowers delivered pursuant to this Section, the Administrative Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers severally (and neither jointly nor jointly and severally) shall pay to the Administrative Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction in the Commitment Amounts or termination of the Commitments may be reinstated.

Optional Termination or Reduction of Commitments. (a) The Borrowers shall have the right at any time and from time to time prior to the Termination Date upon three Business Days’ (or such shorter period as the Administrative Agent shall agree) prior written notice to the Administrative Agent to reduce by $50,000,000 or a larger integral multiple of $10,000,000 the unborrowed portion of the aggregate Tranche A Commitment Amounts and/or Table of Contents the aggregate Tranche B Commitment Amounts of the Banks or terminate entirely each Bank’s Commitment, whereupon such Commitment Amounts of each of the Banks shall be reduced pro rata in accordance with their Commitment Percentages of the amount specified in such notice or, as the case may be, each Bank’s Commitment shall be terminated. Promptly after receiving any notice of the Borrowers delivered pursuant to this Section, the Administrative Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers severally (and neither jointly nor jointly and severally) Borrower shall pay to the Administrative Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction in the Commitment Amounts or termination of the Commitments may be reinstated.

Optional Termination or Reduction of Commitments. (a) The Borrowers Borrower shall have the right at any time prior to the Commitment Termination Date and from time to time prior to the Commitment Termination Date upon three seven (7) Domestic Business Days’ (or such shorter period as the Administrative Agent shall agree) ' prior written notice to the Administrative Agent to reduce by $50,000,000 1,000,000 or a larger integral multiple of $10,000,000 1,000,000 the unborrowed portion of the aggregate Tranche A Commitment Amounts and/or the aggregate Tranche B Commitment Amounts of the Banks or terminate entirely each Bank’s 's Commitment, whereupon such the Commitment Amounts of each of the Banks shall be reduced pro rata in accordance with their Commitment Percentages of the amount specified in such notice or, as the case may be, each Bank’s 's Commitment shall be terminated. Promptly after receiving any notice of the Borrowers Borrower delivered pursuant to this Section, the Administrative Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers severally (and neither jointly nor jointly and severally) Borrower shall pay to the Administrative Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction in the Commitment Amounts or termination of the Commitments may be reinstated.

Optional Termination or Reduction of Commitments. During the Revolving Credit Period, the Borrower may, ----------- upon at least three Domestic Business Days' notice to the Administrative Agent, (ai) The Borrowers shall have terminate the right Commitments at any time and time, if no Loans, Letters of Credit or Reimbursement Obligations are then outstanding or (ii) reduce the Commitments from time to time prior to the Termination Date upon three Business Days’ (by an aggregate amount of $25,000,000 or such shorter period as the Administrative Agent shall agree) prior written notice to the Administrative Agent to reduce by $50,000,000 or a larger integral any multiple of $10,000,000 the unborrowed portion 5,000,000 in excess thereof; provided that, in connection with each such reduction of the aggregate Tranche A Commitment Amounts and/or Commitments, (x) the aggregate Tranche B Commitment Amounts amounts by which the Commitments of the Banks or terminate entirely each Bank’s Commitmentseveral Lenders are reduced shall be in proportion to the amounts shown on the signature pages hereof as their respective Commitments and (y) after giving effect to such reduction, whereupon such Commitment Amounts the Total Exposure of each Lender shall not exceed the amount of its Commitment as so reduced. If the Banks Commitments are reduced, any accrued Commitment Fees applicable to the amount by which the Commitments were so reduced shall be reduced pro rata in accordance with their Commitment Percentages of the amount specified in such notice or, as the case may be, each Bank’s Commitment shall be terminated. Promptly due and payable one month after receiving any notice of the Borrowers delivered pursuant to this Section, the Administrative Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or terminationreduction. If the Commitments are terminated in their entirety, the Borrowers severally (and neither jointly nor jointly and severally) all accrued Commitment Fees shall pay to the Administrative Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued be payable on the amount effective date of the reduction. No reduction in the Commitment Amounts or termination of the Commitments may be reinstatedsuch termination.

Optional Termination or Reduction of Commitments. (a) The Borrowers Borrower shall have the right at any time prior to the Commitment Termination Date and from time to time prior to the Commitment Termination Date upon three seven (7) Domestic Business Days’ (or such shorter period as the Administrative Agent shall agree) ' prior written notice to the Administrative Agent to reduce by $50,000,000 1,000,000 or a larger integral multiple of $10,000,000 1,000,000 the unborrowed portion of the aggregate Tranche A Commitment Amounts and/or the aggregate Tranche B Commitment Amounts of the Banks or terminate entirely each Bank’s 's Commitment, whereupon such the Commitment Amounts of each of the Banks shall be reduced pro rata in accordance with their Commitment Percentages of the amount specified in such notice or, as the case may be, each Bank’s 's Commitment shall be terminated. Promptly after receiving any notice of the Borrowers Borrower delivered pursuant to this Section, the Administrative Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers severally (and neither jointly nor jointly and severally) Borrower shall pay to the Administrative Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction in the Commitment Amounts or termination of the Commitments may be reinstated.