Common use of Reduction of Commitment Amounts Clause in Contracts

Reduction of Commitment Amounts. (a) The Borrower may, from time to time on any Business Day occurring after the time of the Closing Date, voluntarily reduce the amount of the Revolving Loan Commitment Amount or the Letter of Credit Commitment Amount; provided, however, that all such reductions (i) shall be permanent and (ii) to the extent such reduction in the Commitment Amount requires a mandatory prepayment of Revolving Loans pursuant to clause (f) of Section 3.1.1 (x) in the case of prepayments of Base Rate Loans, shall require at least one Business Day's prior notice to the Administrative Agent, and any partial reduction of any Commitment Amount shall be in a minimum amount of $500,000 and in an integral multiple of $100,000 or (y) in the case of prepayments of LIBO Rate Loans, shall require at least three Business Days' prior notice to the Administrative Agent, and any partial reduction of any Commitment Amount shall be in a minimum amount of $500,000 and in an integral multiple of $100,000. Any reduction of the Revolving Loan Commitment Amount which reduces the Revolving Loan Commitment Amount below (i) the Swing Line Loan Commitment Amount or (ii) the Letter of Credit Commitment Amount shall result in an automatic and corresponding reduction of the Swing Line Loan Commitment Amount and/or the Letter of Credit Commitment Amount (as directed by the Borrower in a notice to the Administrative Agent delivered together with the notice of voluntary reduction in the Revolving Loan Commitment Amount) to an aggregate amount not in excess of the Revolving Loan Commitment Amount, as so reduced, without any further action on the part of the Swing Line Lender or the Issuer.

Reduction of Commitment Amounts. (a) The Borrower may, from time to time on any Business Day occurring after the time of the Closing Dateinitial Borrowing hereunder, voluntarily reduce the amount of the Revolving Loan Commitment Amount, the Swing Line Loan Commitment Amount or the Letter of Credit Commitment Amount; provided, however, that (i) all such reductions (i) shall be permanent and (ii) to the extent such reduction in the Commitment Amount requires a mandatory prepayment of Revolving Loans pursuant to clause (f) of Section 3.1.1 (x) in the case of prepayments of Base Rate Loans, shall require at least one three Business Day's Days' prior written irrevocable notice to the Administrative AgentAgent and be permanent, and (ii) any partial reduction of any (A) the Loan Commitment Amount shall be in a minimum amount of $500,000 10,000,000 and in an integral multiple of $100,000 1,000,000 and (B) the Letter of Credit Commitment Amount or (y) in the case of prepayments of LIBO Rate Loans, shall require at least three Business Days' prior notice to the Administrative Agent, and any partial reduction of any Swing Line Loan Commitment Amount shall be in a minimum amount of $500,000 1,000,000 and in an integral multiple of $100,000. Any reduction of 250,000, (iii) except as provided below, the Revolving Loan Commitment Amount which reduces may not be so reduced to an amount less than the Revolving Loan sum of the then existing Letter of Credit Commitment Amount below (i) the and Swing Line Loan Commitment Amount or and (iiiv) except as provided below, the Borrower may not reduce the Letter of Credit Commitment Amount shall result in to an automatic and corresponding reduction of amount less than the Swing Line Loan Commitment Amount and/or the then Letter of Credit Commitment Amount (as directed by Outstandings; and provided, further, that the Borrower may terminate the Commitments in whole if, at the time of and as a notice condition of such termination, (x) the Borrower shall have repaid in full the aggregate outstanding principal amount of all Revolving Loans, Swing Line Loans and Reimbursement Obligations, together with all accrued interest and fees thereon to the Administrative Agent delivered together with date of termination, and (y) all unexpired Letters of Credit shall have been returned to the notice of voluntary reduction in the Revolving Loan Commitment Amount) Issuer for cancellation or cash-collateralized pursuant to an aggregate amount not in excess of the Revolving Loan Commitment Amount, as so reduced, without any further action on the part of the Swing Line Lender or arrangements and documentation reasonably satisfactory to the Issuer.

Reduction of Commitment Amounts. (a) The Borrower may, from time to time on any Business Day occurring after the time of the Closing Agreement Effective Date, voluntarily reduce the amount of the Revolving Loan Commitment Amount or the Letter of Credit Commitment Amount; provided, however, that all such reductions (i) shall be permanent and (ii) to the extent such reduction in the Commitment Amount requires a mandatory prepayment of Revolving Loans pursuant to clause (fb) of Section 3.1.1 (x) in the case of prepayments of Base Rate Loans, shall require at least one Business Day's prior notice to the Administrative Agent, and any partial reduction of any Commitment Amount shall be in a minimum amount of $500,000 and in an integral multiple of $100,000 or (y) in the case of prepayments of LIBO Rate Loans, shall require at least three Business Days' prior notice to the Administrative Agent, and any partial reduction of any Commitment Amount shall be in a minimum amount of $500,000 and in an integral multiple of $100,000. Any reduction of the Revolving Loan Commitment Amount which reduces the Revolving Loan Commitment Amount below (i) the Swing Line Loan Commitment Amount or (ii) the Letter of Credit Commitment Amount shall result in an automatic and corresponding reduction of the Swing Line Loan Commitment Amount and/or the Letter of Credit Commitment Amount (as directed by the Borrower in a notice to the Administrative Agent delivered together with the notice of voluntary reduction in the Revolving Loan Commitment Amount) to an aggregate amount not in excess of the Revolving Loan Commitment Amount, as so reduced, without any further action on the part of the Swing Line Lender or the Issuer.

Reduction of Commitment Amounts. (a) The Borrower may, from time to time on any Business Day occurring after prior to the time of the Closing DateCommitment Termination Date on which there are Available Commitments remaining, voluntarily reduce the amount of the Revolving Loan Total Commitment Amount as then in effect, in whole or the Letter of Credit Commitment Amountin part; provided, however, that all the Borrower shall -------- ------- give the Administrative Agent not less than three nor more than five Business Days' prior written notice (counting the date on which such reductions (inotice is given) of any such reduction which notice, once given, shall be permanent and (ii) to the extent such reduction in the Commitment Amount requires a mandatory prepayment of Revolving Loans pursuant to clause (f) of Section 3.1.1 (x) in the case of prepayments of Base Rate Loans, shall require at least one Business Day's prior notice to the Administrative Agent, and any irrevocable. Any partial reduction of any the Total Commitment Amount shall be in a minimum amount of $500,000 5,000,000 and in an integral multiple of $100,000 or (y) in 1,000,000 and shall be applied equally between the case of prepayments of LIBO Rate Loans, shall require at least three Business Days' prior notice to the Administrative Agent, and any partial reduction of any Tranche A Commitment Amount and the Tranche B Commitment Amount and also rateably among the Lenders' Commitment Amounts (Tranche A Portion) and/or their Commitment Amounts (Tranche B Portion). No voluntary reduction as aforesaid may be made if, as a result thereof, the then outstanding Total Commitment Amount would be less than the Principal Amount of all the outstanding Loans on the date of such proposed reduction (after giving effect to any prepayment or repayment of outstanding Loans to be, or required to be, made on such date pursuant to this Agreement (and, for purposes of calculating such Principal Amount, any then outstanding Gold Loan shall be calculated in a minimum amount of $500,000 and in an integral multiple of $100,000. Any reduction of Dollars using the Revolving Loan Commitment Amount which reduces the Revolving Loan Commitment Amount below (i) the Swing Line Loan Commitment Amount or (ii) the Letter of Credit Commitment Amount shall result in an automatic and corresponding reduction of the Swing Line Loan Commitment Amount and/or the Letter of Credit Commitment Amount (as directed by the Borrower in a notice Base Price applicable to the Administrative Agent delivered together with the notice of voluntary reduction in the Revolving Loan Commitment Amount) to an aggregate amount not in excess of the Revolving Loan Commitment Amount, as so reduced, without any further action on the part of the Swing Line Lender or the Issuereach such Gold Loan)).