Permanent Reduction of Commitment. The Account Party shall have the right at any time and from time to time, upon at least three Business Days’ prior irrevocable written notice to Bank, to permanently reduce, without premium or penalty, (i) the entire Commitment at any time or (ii) portions of the Commitment, from time to time, in an aggregate principal amount not less than $3,000,000 or any whole multiple of $1,000,000 in excess thereof. All Commitment Fees accrued until the effective date of any termination of the Commitment shall be paid on the effective date of such termination.
Permanent Reduction of Commitment. (a) At the Borrower's option, the Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least $5,000,000 and, to the extent in excess thereof, in integral multiples of $1,000,000 at any time, provided that (i) the Borrower gives the Agent written notice of the exercise of such option at least five (5) Business Days prior to the effective date thereof, (ii) the aggregate outstanding Credit Exposures do not exceed the Commitment as so reduced in any such case on the effective date of such reduction and (iii) the Borrower is not and, after giving effect to such reduction, would not be in violation of Section 2.07(c). Any such reduction shall concurrently reduce the Dollar amount of each Bank's Pro Rata Share of the Commitment.
Permanent Reduction of Commitment. At Borrower's option the Commitment and the Revolving Credit Loan Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least $400,000 and to the extent in excess thereof in integral multiples of $100,000 at any time; provided that (i) Borrower gives the Agent written notice of the exercise of such option at least three (3) Business Days prior to the effective date thereof, (ii) the aggregate outstanding balance of the Loans, if any, does not exceed the Commitment and the aggregate outstanding balance of the Revolving Credit Loans, plus the aggregate outstanding amount of any Letters of Credit or Letter of Credit Agreement and any unreimbursed drawn amounts thereunder, if any, does not exceed the Revolving Credit Loan Commitment, both as so reduced in any such case on the effective date of such reduction and (iii) Borrower is not, and after giving effect to such reduction, would not be in violation of SECTION 2.6.3. Any such reduction shall concurrently reduce the Dollar amount of each Lender's Pro Rata Share of the Commitment and the Revolving Credit Loan Commitment.
Permanent Reduction of Commitment. At the Borrower's option the Commitment and the Revolving Credit Loan Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least $400,000 and to the extent in excess thereof in integral multiples of $100,000 at any time; provided that (i) the Borrower gives the Agent written notice of the exercise of such option at least three (3) Business Days prior to the effective date thereof, (ii) the aggregate outstanding balance of the Loans, if any, does not
Permanent Reduction of Commitment. At the Borrower's option the Commitment and the Revolving Credit Loan Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least $100,000 and to the extent in excess thereof in integral multiples of $50,000 at any time; provided that (i) the Borrower gives the Agent written notice of the exercise of such option at least three (3) Business Days prior to the effective date thereof, (ii) the aggregate outstanding balance of the Loans, if any, does not exceed the Commitment and the aggregate outstanding balance of the Revolving Credit Loans together with the aggregate amount of the outstanding stated amount of any Letters of Credit or Letter of Credit Agreements, and any unreimbursed amounts thereunder, if any, does not exceed the Revolving Credit Loan Commitment, both as so reduced in any such case on the effective date of such reduction and (iii) the Borrower is not, and after giving effect to such reduction, would not be in violation of SECTION 2.6.3. Any such reduction shall concurrently reduce the Dollar amount of each Lender's Pro Rata Share of the Commitment and the Revolving Credit Loan Commitment.
Permanent Reduction of Commitment. (a) At any time that the Borrower makes any prepayment under Section 2.5 or any repayment under Section 2.6 of the principal amount of any Advance or Loan, and at any time that a Letter of Credit expires by its terms or is or is deemed terminated, the aggregate Revolving Loan Commitments shall be permanently reduced on a pro rata basis among the Lenders in accordance with their respective Revolving Commitment Ratios in an aggregate amount equal to the amount of such prepayment or repayment or such expired or terminated Letter of Credit, as the case may be.
Permanent Reduction of Commitment. 30 ------------- --------------------------------- Section 2.7. Payment on Non-Business Days. 31 ----------- ---------------------------- Section 2.8. Use of Proceeds. 31 ----------- --------------- Section 2.9.
Permanent Reduction of Commitment. At the Borrower's option, the Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least Five Million Dollars ($5,000,000) and, to the extent in excess thereof, in integral multiples of One Million Dollars ($1,000,000) at any time, provided that (i) the Borrower gives Agent written notice of the exercise of such option at least five (5) Business Days prior to the effective date thereof, (ii) the aggregate outstanding balances of the Revolving Credit Loans, the Swing Loans and the Bid Loans, in each case, if any, do(es) not exceed the Commitment as so reduced in any such case on the effective date of such reduction and (iii) the Borrower is not and, after giving effect to such reduction, would not be in violation of Section 2.07(C). Any such reduction shall concurrently reduce the Dollar amount of each Bank's Pro Rata Share of the Commitment.
Permanent Reduction of Commitment. Any mandatory prepayment shall permanently reduce the Total Commitment on a pro rata basis, by the amount of such prepayment.
Permanent Reduction of Commitment. At the Borrower's ------------- --------------------------------- option the Commitment and the Revolving Credit Loan Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least $500,000 and to the extent in excess thereof in integral multiples of $100,000 at any time; provided that (i) the Borrower gives the Agent written notice of the exercise of such option at least three (3) Business Days prior to the effective date thereof, (ii) the aggregate outstanding balance of the Loans, if any, does not exceed the Commitment and the aggregate outstanding balance of the Revolving Credit Loans, plus the aggregate outstanding amount of any Letters of Credit or Letter of Credit Agreement and any unreimbursed drawn amounts thereunder, if any, does not exceed the Revolving Credit Loan Commitment, both as so reduced in any such case on the effective date of such reduction
