Common use of Permanent Reduction of the Aggregate Commitment Clause in Contracts

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 or any whole multiple of $500,000 in excess thereof. (b) Each permanent reduction permitted pursuant to this Section 2.5 shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Loans of the Lenders after such reduction to the Aggregate Commitment as so reduced. Any reduction of the Aggregate Commitment to zero shall be accompanied by payment of all outstanding Obligations and, if such reduction is permanent, termination of the Commitments and Credit Facility. If the reduction of the Aggregate Commitment requires the repayment of any LIBOR Rate Loan, such reduction may be made only on the last day of the then current Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 3.9 hereof.

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 5,000,000 or any whole multiple of $500,000 1,000,000 in excess thereof. (b) . Each permanent reduction permitted pursuant to this Section 2.5 2.6 shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Loans of the Lenders after such reduction to the lesser of (a) the Aggregate Commitment as so reducedreduced or (b) the Borrowing Base and by payment of accrued interest on the amount of such repaid principal. Any reduction of the Aggregate Commitment to zero shall be accompanied by payment of all outstanding Obligations and, if such reduction is permanent, termination of the Commitments and the Credit Facility. If the reduction of the Aggregate Commitment requires the repayment of any LIBOR Rate Loan, such reduction may be made only on the last day of the then current Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 3.9 hereof.

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers Borrower shall have the right at any time and from time to time, upon at least five three (53) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Aggregate Commitment in an aggregate principal amount not less than $1,000,000 10,000,000 or any whole multiple of $500,000 5,000,000 in excess thereof. (b) Each permanent reduction permitted pursuant to this Section 2.5 2.6 shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Loans of the Lenders after such reduction to the Aggregate Commitment as so reducedreduced and by payment of accrued interest on the amount of such repaid principal. Any reduction of the Aggregate Commitment to zero shall be accompanied by payment of all outstanding Obligations and, if such reduction is permanent, and termination of the Commitments and Credit Facility. If the reduction of the Aggregate Commitment requires the repayment of any LIBOR Rate Loan or Competitive Bid Loan, such reduction may be made only on the last day of the then current LIBOR Interest Period or Competitive Bid Interest Period, respectively, applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 3.9 3.8 hereof.

Permanent Reduction of the Aggregate Commitment. (a) The Borrowers Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days Days' prior written notice to the Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penaltypenalty except as provided herein, the Aggregate Revolving Credit Commitment in an aggregate principal amount not less than $1,000,000 5,000,000 or any whole multiple of $500,000 5,000,000 in excess thereof. (b) . Each permanent reduction permitted pursuant to this Section 2.5 2.5(a) shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Revolving Credit Loans of the Lenders after such reduction to the Aggregate Revolving Credit Commitment as so reducedreduced and by payment of accrued interest on the amount of such repaid principal. Any reduction of the Aggregate Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Obligations andshall, if such reduction is permanent, result in the termination of the Revolving Credit Commitments and the Revolving Credit Facility. Facility and shall be accompanied by a payment of all accrued fees. (b) If the any reduction of the Aggregate Revolving Credit Commitment requires the repayment of any LIBOR Fixed Rate Loan, such reduction may be made only on the last day of the then current Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid in connection therewith pursuant to Section 3.9 hereof3.9.