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

Optional Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) without the consent of the Co-Borrower, the Commitments may not be reduced to an amount less than the Co-Borrower Sublimit. (b) The Co-Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce in part the unused Co-Borrower Sublimit, provided that (i) each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) each such reduction shall be applied to the respective Commitments of the Lenders ratably.

Optional Termination or Reduction of the Commitments. (a) The Company shall have the right, upon at least three Business Days’ ' notice to the Agent, to terminate in whole or permanently reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that (i) each partial reduction shall be in an amount not less than the aggregate amount of $10,000,000 Borrowing Minimum or an integral multiple of $1,000,000 the Borrowing Multiple in excess thereof and (ii) without the consent of the Co-Borrower, the Commitments may not be reduced to an amount less than the Co-Borrower Sublimit. (b) The Co-Borrower shall have the right, upon at least three Business Days’ ' notice to the Agent, to terminate in whole or permanently reduce in part the unused Co-Borrower Sublimit, provided that (i) each partial reduction shall be in an amount not less than the aggregate amount of $10,000,000 Borrowing Minimum or an integral multiple of $1,000,000 the Borrowing Multiple in excess thereof and (ii) each such reduction shall be applied to the respective Commitments of the Lenders ratably.