Common use of Reduction and Termination of Commitment Clause in Contracts

Reduction and Termination of Commitment. The Borrowers shall have the right at any time and from time to time upon five Business Days' prior written notice to the Agent to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment be reduced to an amount less than $50,000,000.00) or to terminate entirely the unborrowed portion of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan); provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the Outstanding Loans would exceed the Commitments of the Banks as so terminated or reduced. In the event that as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitment or Swing Loan Commitment may be reinstated.

Reduction and Termination of Commitment. The Borrowers Borrower shall have the right at any time and from time to time upon five Business Days' prior written notice to the Agent to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment be reduced to an amount less than $50,000,000.00) or to terminate entirely the unborrowed portion of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan); provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the Outstanding Loans would exceed the Commitments of the Banks as so terminated or reduced. In the event that as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers Borrower delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitment or Swing Loan Commitment may be reinstated.

Reduction and Termination of Commitment. The Borrowers (a) Borrower or Lender may, upon written notice to the other party at any time terminate in whole or reduce in part the unused portion of the Commitment. Any such termination or reduction in the Commitment shall have be effective immediately upon delivery of such notice, whereupon (i) in the right case where the Commitment is terminated, the obligation of Lender to make any Loan (including any Loan request outstanding at such time) or provide any Credit Enhancement pursuant to Section 2.4 shall immediately terminate, and (ii) in the case where the Commitment is reduced, the obligation of Lender to make any Loan shall immediately be limited to the amount of such reduced Commitment. (b) In the event of termination of the Commitment pursuant to Section 2.3(a), Lender may, at any time and from time to time upon five Business Days' prior time, demand payment from Borrower of all or any part of the outstanding Loans together with all accrued and unpaid interest thereon; provided that the repayment date shall be specified in Lender's notice and at least 30 days following Borrower's receipt of written notice from Lender. (c) Upon any mandatory prepayment of Loans required pursuant to Section 2.8(a) as the result of an Asset Sale involving Collateral, the Commitment shall be permanently reduced by an amount equal to the Agent lesser of (i) 50% of the Net Cash Proceeds received in such Asset Sale and (ii) the amount of the Commitment then in effect. (d) Upon any mandatory prepayment of Loans required pursuant to reduce Section 2.8(a) as the result of an Insurance Event, the Commitment shall be permanently reduced by $5,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment be reduced to an amount less than $50,000,000.00equal to the lesser of (i) or to terminate entirely the unborrowed portion 50% of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan); provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the Outstanding Loans would exceed the Commitments of the Banks as so terminated or reduced. In the event that Net Cash Proceeds received as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically such Insurance Event and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on (ii) the amount of the reduction. No reduction or termination of the Commitment or Swing Loan Commitment may be reinstatedthen in effect.

Reduction and Termination of Commitment. The Borrowers Borrower shall have the right at any time and from time to time upon five (5) Business Days' ’ prior written notice to the Agent to reduce by $5,000,000 1,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment Commitments be reduced in such manner to an amount less than $50,000,000.00the amount of Outstanding Letters of Credit unless all Obligations are being repaid or prepaid and this Agreement is terminated) or to terminate entirely the unborrowed portion of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan)penalty; provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the sum of Outstanding Loans Letters of Credit would exceed the Commitments of the all Banks as so terminated or reduced. In the event that as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers from Borrower delivered pursuant to this Section 2.3§3.2, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee Facility Fee under Section §2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitment or Swing Loan Commitment may be reinstated.

Reduction and Termination of Commitment. The Borrowers Borrower shall have the right at any time and from time to time upon five Business Days' prior written notice to the Agent to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment be reduced in such manner to an amount less than $50,000,000.0075,000,000.00) or to terminate entirely the unborrowed portion of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan); provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the Outstanding Loans would exceed the Commitments of the Banks as so terminated or reduced. In the event that as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers Borrower delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitment or Swing Loan Commitment may be reinstated.

Reduction and Termination of Commitment. The Borrowers Borrower shall have the right at any time and from time to time upon five Business Days' prior written notice to the Agent to reduce by $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment be reduced to an amount less than $50,000,000.00) or to terminate entirely the unborrowed portion of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata PRO RATA in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan); provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the Outstanding Loans and the Outstanding Letters of Credit would exceed the Commitments of the Banks as so terminated or reduced. In the event that as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers Borrower delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitment or Swing Loan Commitment may be reinstated.

Reduction and Termination of Commitment. The Borrowers (a) Borrower may, or after April 25, 2003 Lender may, upon written notice to the other party at any time terminate in whole or reduce in part the unused portion of the Commitment. Any such termination or reduction in the Commitment shall have be effective immediately upon delivery of such notice, whereupon (i) in the right case where the Commitment is terminated, the obligation of Lender to make any Loan (including any Loan request outstanding at such time) or provide any Credit Enhancement pursuant to Section 2.4 shall immediately terminate, and (ii) in the case where the Commitment is reduced, the obligation of Lender to make any Loan shall immediately be limited to the amount of such reduced Commitment. (b) In the event of termination of the Commitment pursuant to Section 2.3(a), Lender may, at any time and from time to time upon five Business Days' prior time, demand payment from Borrower of all or any part of the outstanding Loans together with all accrued and unpaid interest thereon; provided that the repayment date shall be specified in Lender's notice and at least 30 days following Borrower's receipt of written notice from Lender. (c) Upon any mandatory prepayment of Loans required pursuant to Section 2.8(a) as the result of an Asset Sale involving Collateral, the Commitment shall be permanently reduced by an amount equal to the Agent lesser of (i) 50% of the Net Cash Proceeds received in such Asset Sale and (ii) the amount of the Commitment then in effect. (d) Upon any mandatory prepayment of Loans required pursuant to reduce Section 2.8(a) as the result of an Insurance Event, the Commitment shall be permanently reduced by $5,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment be reduced to an amount less than $50,000,000.00equal to the lesser of (i) or to terminate entirely the unborrowed portion 50% of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan); provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the Outstanding Loans would exceed the Commitments of the Banks as so terminated or reduced. In the event that Net Cash Proceeds received as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically such Insurance Event and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on (ii) the amount of the reduction. No reduction or termination of the Commitment or Swing Loan Commitment may be reinstatedthen in effect.

Reduction and Termination of Commitment. The Borrowers (a) Borrower or Lender may, upon written notice to the other party at any time terminate in whole or reduce in part the unused portion of the Commitment. Any such termination or reduction in the Commitment shall have be effective immediately upon delivery of such notice, whereupon (i) in the right case where the Commitment is terminated, the obligation of Lender to make any Loan (including any Loan request outstanding at such time) or provide any Credit Enhancement pursuant to Section 2.4 shall immediately terminate, and (ii) in the case where the Commitment is reduced, the obligation of Lender to make any Loan shall immediately be limited to the amount of such reduced Commitment. (b) In the event of termination of the Commitment pursuant to Section 2.3(a), Lender may, at any time and from time to time upon five Business Days' prior time, demand payment from Borrower of all or any part of the outstanding Loans together with all accrued and unpaid interest thereon; provided that the repayment date shall be specified in Lender’s notice and at least 30 days following Borrower’s receipt of written notice from Lender. (c) Upon any mandatory prepayment of Loans required pursuant to Section 2.8(a) as the result of an Asset Sale involving Collateral, the Commitment shall be permanently reduced by an amount equal to the Agent lesser of (i) 50% of the Net Cash Proceeds received in such Asset Sale and (ii) the amount of the Commitment then in effect. (d) Upon any mandatory prepayment of Loans required pursuant to reduce Section 2.8(a) as the result of an Insurance Event, the Commitment shall be permanently reduced by $5,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment be reduced to an amount less than $50,000,000.00equal to the lesser of (i) or to terminate entirely the unborrowed portion 50% of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan); provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the Outstanding Loans would exceed the Commitments of the Banks as so terminated or reduced. In the event that Net Cash Proceeds received as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically such Insurance Event and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on (ii) the amount of the reduction. No reduction or termination of the Commitment or Swing Loan Commitment may be reinstatedthen in effect.

Reduction and Termination of Commitment. The Borrowers Borrower shall have the right at any time and from time to time upon five Business Days' prior written notice to the Agent to reduce by $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment be reduced to an amount less than $50,000,000.00100,000,000.00) or to terminate entirely the unborrowed portion of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan); provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the Outstanding Loans would exceed the Commitments of the Banks as so terminated or reduced. In the event that as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers Borrower delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitment or Swing Loan Commitment may be reinstated.

Reduction and Termination of Commitment. The Borrowers Borrower shall have the right at any time and from time to time upon five Business Days' prior written notice to the Agent to reduce by $5,000,000 or an integral multiple of $1,000,000 in excess thereof (provided that in no event shall the Total Commitment be reduced to an amount less than $50,000,000.005,000,000.00) or to terminate entirely the unborrowed portion of the Commitments, whereupon the Commitments of the Banks shall be reduced pro rata PRO RATA in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty (unless such termination or reduction requires repayment of a LIBOR Rate Loan); provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the Outstanding Loans would exceed the Commitments of the Banks as so terminated or reduced. In the event that as a result of the reduction or termination of the Commitments, the Commitment of the Swing Loan Bank shall be reduced to an amount less than the Swing Loan Commitment, the Swing Loan Commitment shall automatically and without further action of the parties be reduced to an equal amount. Promptly after receiving any notice of the Borrowers Borrower delivered pursuant to this Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any facility fee under Section 2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitment or Swing Loan a Commitment may be reinstated.