Reduction of Credit Facilities. The Borrowers may, from time to time and at any time, by 5 Banking Days notice in writing to the Agent, permanently reduce any Credit Facility to the extent it is not utilized, provided, however, that any such permanent reduction of the amount of such Credit Facility shall be by an amount of no less than US$2,000,000 and otherwise in multiples of US$500,000. The amount of Credit Facility 1 will be permanently reduced at the time of and by the amount of each scheduled repayment pursuant to Section 9.1 and any prepayment pursuant to Sections 9.3 and 9.4. Any prepayment of a Revolving Facility shall not cause a reduction in the amount of such Credit Facility. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 shall not cause any reduction in the amount of the applicable Credit Facility. Upon any reduction in the amount of any Credit Facility, the Individual Commitment of each Lender with respect to such Credit Facility shall thereupon be reduced by an amount equal to such Lender's Pro Rata Share of the amount of such reduction in the amount of such Credit Facility.
Reduction of Credit Facilities. The Borrower may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce either Credit Facility in whole or in part to the extent it is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. Immediately following the sole drawdown under the NRT Facility the amount of the NRT Facility shall be permanently reduced to the amount of the aforesaid sole drawdown (the “Initial NRT Amount”). Said sole drawdown under the NRT Facility shall occur on or before the 90th day following satisfaction of the conditions precedent in Section 12.2 hereof, failing which the NRT Facility shall be terminated. The amount of the NRT Facility will be permanently reduced with respect to each repayment or prepayment made in accordance with Section 9.1, 9.3 or 9.4. The amount of the RT Facility will be permanently reduced with respect to each repayment or prepayment in accordance with Section 9.2 or 9.4. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the relevant Credit Facility. Upon any reduction of a particular Credit Facility, the Individual Commitment of each Lender with respect to such Credit Facility shall thereupon be reduced by an amount equal to such Lender’s Pro Rata Share of the amount of such reduction of such Credit Facility.
Reduction of Credit Facilities. The Borrower may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce either RT Facility in whole or in part to the extent such RT Facility, is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. The amount of either RT Facility will be permanently reduced at the time, and in the amount, of each repayment or prepayment made with respect to such RT Facility pursuant to Section 9.1 or 9.4. The initial amount advanced under the NRT Facility was $400,000,000 (the “Initial NRT Amount”). The amount of the NRT Facility will also be permanently reduced at the time, and in the amount, of each repayment or prepayment made with respect to the NRT Facility pursuant to Section 9.2, 9.3 or 9.4. Any repayment or prepayment of credit outstanding under any Credit Facility (other than as set forth above) shall not cause a reduction in the amount of such Credit Facility. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the relevant Credit Facility. Upon any reduction of a Credit Facility, the Individual Commitment of each relevant Lender with respect to such Credit Facility shall thereupon be reduced by an amount equal to such relevant Lender’s Pro Rata Share of the amount of such reduction of such Credit Facility.
Reduction of Credit Facilities. The Borrower may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce the RT Facility in whole or in part to the extent it is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. The amount of the RT Facility will be permanently reduced at the time, and in the amount, of each repayment or prepayment made pursuant to Section 9.1 or 9.4(b). The amount of the NRT Facility will be permanently reduced (x) if the three drawdowns under the NRT Facility permitted pursuant to Section 4.2 are made prior to December 31, 2007, immediately after the third drawdown to the then outstanding amount of credit under the NRT Facility or (y) if said three drawdowns are not made prior to December 31, 2007, at 4:00 p.m. (Toronto time) on December 31, 2007 to the then outstanding amount of credit under the NRT Facility (the “Initial NRT Amount”). The amount of the NRT Facility will also be permanently reduced at the time, and in the amount, of each repayment or prepayment made pursuant to Section 9.2, 9.3 or 9.4. Any repayment or prepayment of credit outstanding under either Credit Facility (other than as set forth above) shall not cause a reduction in the amount of such Credit Facility. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the relevant Credit Facility. Upon any reduction of a Credit Facility, the Individual Commitment of each Lender with respect to such Credit Facility shall thereupon be reduced by an amount equal to such Lender’s Pro Rata Share of the amount of such reduction of such Credit Facility.
Reduction of Credit Facilities. The RT Borrowers may, from time to time and at any time, by notice in writing to the Administrative Agent, permanently reduce the RT Facility in whole or in part to the extent it is not being utilized at the time such notice is given, provided that such reduction shall not become effective until five Banking Days after such notice has been given. The amount of RT Facility will be permanently reduced with respect to repayment made in accordance with Section 9.1 or 9.2. Any repayment or prepayment of credit outstanding under the RT Facility (other than as set forth above) shall not cause a reduction in the amount of the RT Facility. At 4:00 p.m. (Toronto time) on the final day of the NRT Facility Availability Period, the amount of the NRT Facility shall be permanently reduced to the aggregate amount outstanding under the NRT Facility at that time (the "NRT REPAYMENT AMOUNT"). The amount of the NRT Facility will not be reduced by any repayment under the NRT Facility pursuant to Section 9.9, but will be reduced at the time, and by the amount, of any prepayment or repayment of the NRT Facility pursuant to Sections 9.3 or 9.4. Any repayment of outstanding credit which forms part of any conversion from one type of credit to another type of credit under Article 3 or Article 6 or of any rollover under Article 5 shall not cause any reduction in the amount of the relevant Credit Facility. Upon any reduction of a Credit Facility (other than any reduction of the RT Facility pursuant to Section 9.1(b)), the Individual Commitment of each relevant Lender with respect to such Credit Facility shall thereupon be reduced by an amount equal to such relevant Lender's Pro Rata Share of the amount of such reduction of such Credit Facility. Upon any reduction of the RT Facility pursuant to Section 9.1(b), the Individual Commitment of the relevant Non-Continuing RT Lender with respect to the RT Facility shall thereupon be reduced by an amount equal to such reduction of the RT Facility.
