Other Reductions in Stated Amount. (A) Borrower may, from time to time upon three (3) Banking Days’ notice and the delivery of a Notice of LC Activity pursuant to clause (c) above to Administrative Agent and the LC Issuing Banks, request to permanently reduce the Stated Amount with respect to a Letter of Credit, the Available LC Commitment and/or Total LC Commitment with respect to any Letter of Credit by the amount of One Hundred Thousand Dollars ($100,000), or an integral multiple thereof, or, Borrower may, from time to time upon three (3) Banking Days’ prior notice to Administrative Agent and the applicable LC Issuing Bank(s), cancel any Letter of Credit in its entirety; provided, however, that that (x) so long as any Obligations remain outstanding, Administrative Agent and the Required Lenders shall be satisfied that no reduction or cancellation would cause a violation of any provision of this Agreement or any provision of the other Operative Documents; and (y) Administrative Agent and the applicable LC Issuing Bank shall have received written notice from the applicable beneficiary of such Letter of Credit, confirming such reduction or cancellation.
Other Reductions in Stated Amount. (A) From and after the Term-Conversion Date, Borrower may, from time to time upon three (3) Banking Days’ irrevocable notice and the delivery of a Notice of LC Activity pursuant to clause (c) above to Administrative Agent and LC Fronting Bank, permanently reduce the Stated Amount, Available LC/Cash Collateral Commitment and/or Total LC/Cash Collateral Commitment, as applicable, with respect to the DSRA LC by the amount of One Hundred Thousand Dollars ($100,000), or an integral multiple thereof, or, from and after the Term-Conversion Date, Borrower may, from time to time upon thirty (30) days’ prior notice to Administrative Agent and LC Fronting Bank, cancel the DSRA LC in its entirety; provided, however, that upon such reduction or cancellation, amounts on deposit in the Debt Service Reserve Account and/or covered by the remaining DSRA LC or another Acceptable DSRA LC shall at least equal the DSRA Minimum Balance.
Other Reductions in Stated Amount. (1) The Borrower may, from time to time upon the delivery of a Request for LC Activity pursuant to Section 2.1(d) to an Issuing Bank, and where consented to by the applicable beneficiary, permanently reduce the Stated Amount with respect to a Letter of Credit, or the Borrower may, from time to time upon not less than three (3) Business Days’ prior notice to the applicable Issuing Bank, cancel a Letter of Credit in its entirety. (2) From the effective date of any reduction of the Stated Amount with respect to a Letter of Credit or a cancellation of a Letter of Credit, in each case, under this Section 2.1(f), the Letter of Credit fees payable pursuant to Section 2.2 shall be calculated taking into account the Stated Amount of such Letter of Credit as so reduced or the cancellation of such Letter of Credit, as applicable. (iii)
Other Reductions in Stated Amount. (A) Borrower may, from time to time upon five Banking Days’ notice and the delivery of a Notice of LC Activity pursuant to clause (c) above to Administrative Agent, the DSR Letter of Credit Issuing Bank and the DSR LC Lenders, permanently reduce the Total DSR LC Commitment (and the Stated Amount of any DSR Letter of Credit) by the amount of $250,000, or an integral multiple thereof, or, Borrower may, from time to time upon five Banking Days’ prior notice to Administrative Agent, the DSR Letter of Credit Issuing Bank and the DSR LC Lenders, cancel any DSR Letter of Credit in its entirety; provided, however, that (x) so long as any Obligations remain outstanding, Administrative Agent shall be satisfied that no reduction or cancellation would cause a violation of any provision of this Credit Agreement or a breach of any provision of any other Operative Document and (y) in respect of a reduction or cancelation of an issued DSR Letter of Credit, Administrative Agent shall have received written notice from the applicable beneficiary of such DSR Letter of Credit, confirming such reduction or cancellation. The Total DSR LC Commitment shall not be reduced if the effect thereof would be to cause (1) the DSR LC Exposure to exceed the Total DSR LC Commitment or (2) Borrower to fail to satisfy its obligations under Section 4.5 of the Depositary Agreement.
Other Reductions in Stated Amount. (A) From and after the Term-Conversion Date, Borrower may, from time to time upon three (3) Banking Days’ notice and the delivery of a Notice of LC Activity pursuant to clause (c) above to Administrative Agent and LC Fronting Bank, permanently reduce the Stated Amount, Available LC Commitment and/or Total LC Commitment, as applicable, with respect to the DSRA LC by the amount of One Hundred Thousand Dollars ($100,000), or an integral multiple thereof, or, from and after the Term-Conversion Date, Borrower may, from time to time upon thirty (30) days’ prior notice to Administrative Agent and LC Fronting Bank, cancel the DSRA LC in its entirety; provided, however, that upon such reduction or cancellation, amounts on deposit in the Debt Service Reserve Account and/or covered by the remaining DSRA LC shall at least equal the DSRA Minimum Balance.
