Common use of Reduction and Termination of the Commitments Clause in Contracts

Reduction and Termination of the Commitments. (a) The Borrower may, upon at least three Business Days' prior notice to the Agent, terminate in whole or reduce ratably in part the unused portions of the Commitments; PROVIDED, HOWEVER, that each partial reduction shall be in the aggregate amount of not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. (b) The then current Commitments shall be reduced (and the Commitment of each Lender shall be reduced by its Ratable Portion of such amount) on each date determined pursuant to PARAGRAPH (c) below in an amount equal to (i) as long as no Default or Event of Default shall have occurred and be continuing (A) with respect to each Asset Sale that includes Eligible Inventory, an amount equal to the Advance Rate then in effect multiplied by the Attributable Value of such Eligible Inventory sold, determined on the basis of the most recent Borrowing Base Certificate and (B) with respect to all other Asset Sales, (x) 50% of the aggregate amount of the Asset Sale Proceeds received by any Loan Party or any of its Subsidiaries on or after the Effective Date in excess of $10,000,000 (up to $15,000,000 in such Assets Sale Proceeds per year) and (y) 100% of the aggregate amount of any such Asset Sale Proceeds received in excess of $15,000,000 per year and (ii) following the occurrence of a Default or an event of Default, 100% of all Asset Sale Proceeds. (c) If pursuant to PARAGRAPH (b) above the Commitments are to be reduced as a result of an Asset Sale, such reduction shall be made on the date of receipt of such Asset Sale Proceeds by any Loan Party.

Reduction and Termination of the Commitments. (a) The Borrower may, upon at least three Business Days' prior notice to the Agent, terminate in whole or reduce ratably in part the unused portions of the respective Commitments; PROVIDED, HOWEVER, that each partial reduction shall be in the aggregate amount of not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. (b) The then current Commitments shall be reduced (and the Commitment of each Lender shall be reduced by its Ratable Portion of such amount) on each date determined pursuant to PARAGRAPH paragraph (c) below in an amount equal to (i) as long as no Default or Event of Default shall have occurred and be continuing (A) with respect to each Asset Sale that includes Eligible Inventory, an amount equal to the Advance Rate then in effect multiplied by the Attributable Attributed Value of such Eligible Inventory sold, determined on the basis of the most recent Borrowing Base Certificate and (B) with respect to all other Asset Sales, (x) 50% of the aggregate amount of the such Asset Sale Proceeds received by any Loan Party or any of its Subsidiaries on or after the Effective Date in excess of $10,000,000 (and up to $15,000,000 in such Assets Sale Proceeds per year) year and (y) 100% of the aggregate amount of any such Asset Sale Proceeds received in excess of $15,000,000 per year and (ii) following the occurrence of a Default or an event Event of Default, 100% of all Asset Sale Proceeds. (c) If pursuant to PARAGRAPH paragraph (b) above the Commitments are to be reduced as a result of an Asset Sale, such reduction shall be made on the date of receipt of such Asset Sale Proceeds by any Loan Party.

Reduction and Termination of the Commitments. (a) The Borrower may, upon at least three Business Days' prior notice to the Agent, terminate in whole or reduce ratably in part the unused portions of the respective Commitments; PROVIDED, HOWEVER, that each partial reduction shall be in the aggregate amount of not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. (b) The then current Commitments shall be reduced (and the Commitment of each Lender shall be reduced by its Ratable Portion of such amount) on each date determined pursuant to PARAGRAPH paragraph (c) below in an amount equal to (i) as long as no Default or Event of Default shall have occurred and be continuing (A) with respect to each Asset Sale that includes Eligible Inventory, an amount equal to the Advance Rate then in effect multiplied by the Attributable Attributed Value of such Eligible Inventory sold, determined on the basis of the most recent Borrowing Base Certificate and (B) with respect to all other Asset Sales, (x) 50% of the aggregate amount of the such Asset Sale Proceeds received by any Loan Party or any of its Subsidiaries on or after the Effective Date in excess of $10,000,000 (and up to $15,000,000 in such Assets Sale Proceeds per year) year and (y) 100% of the aggregate amount of any such Asset Sale Proceeds received in excess of $15,000,000 per year and (ii) following the occurrence of a Default or an event Event of Default, 100% of all Asset Sale Proceeds. (c) If pursuant to PARAGRAPH paragraph (b) above the Commitments are to be reduced as a result of an Asset Sale, such reduction shall be made on the date of receipt of such Asset Sale Proceeds by any Loan Party.

Reduction and Termination of the Commitments. (a) The Borrower may, upon at least three Business Days' prior notice to the Agent, terminate in whole or reduce ratably in part the unused portions of the respective Commitments; PROVIDED, HOWEVER, that each partial reduction shall be in the aggregate amount of not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. (b) The then current Commitments shall be reduced (and the Commitment of each Lender shall be reduced by its Ratable Portion of such amount) on each date determined pursuant to PARAGRAPH paragraph (c) below in an amount equal to (i) as long as no Default or Event of Default shall have occurred and be continuing (A) with respect to each Asset Sale that includes Eligible Inventory, an amount equal to the Advance Rate then in effect multiplied by the Attributable Attributed Value of such Eligible Inventory sold, determined on the basis of the most recent Borrowing Base Certificate and (B) with respect to all other Asset Sales, (x) 50% of the aggregate amount of the such Asset Sale Proceeds received by any Loan Party or any of its Subsidiaries on or after the Effective Closing Date in excess of $10,000,000 (and up to $15,000,000 in such Assets Sale Proceeds per year) year and (y) 100% of the aggregate amount of any such Asset Sale Proceeds received in excess of $15,000,000 per year and (ii) following the occurrence of a Default or an event Event of Default, 100% of all Asset Sale Proceeds. (c) If pursuant to PARAGRAPH paragraph (b) above the Commitments are to be reduced as a result of an Asset Sale, such reduction shall be made on the date of receipt of such Asset Sale Proceeds by any Loan Party.