Common use of Reduction of Revolver Commitments Clause in Contracts

Reduction of Revolver Commitments. (i) The Revolver Commitments shall terminate on the Maturity Date. US Borrower may reduce the US Revolver Commitments without premium or penalty to an amount (which may be zero) not less than the sum of (A) the US Revolver Usage as of such date, plus (B) the principal amount of all US Advances not yet made as to which a request has been given by a US Borrower under Section 2.3(a), plus (C) the amount of all US Letters of Credit not yet issued as to which a request has been given by US Borrower pursuant to Section 2.11(a). Canadian Borrowers may reduce the Canadian Revolver Commitments without premium or penalty to an amount (which may be zero) not less than the sum of (A) the Canadian Revolver Usage as of such date, plus (B) the principal amount of all Canadian Advances not yet made as to which a request has been given by a Canadian Borrower under Section 2.3(a), plus (C) the amount of all Canadian Letters of Credit not yet issued as to which a request has been given by a Canadian Borrower pursuant to Section 2.11(a). Each such reduction shall be in an amount which is not less than $1,000,000 (unless the applicable Revolver Commitments are being reduced to zero and the amount of the applicable Revolver Commitments in effect immediately prior to such reduction are less than $1,000,000), shall be made by providing not less than 10 Business Days prior written notice to the applicable Agent, and shall be irrevocable. Once reduced, the applicable Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the applicable Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Reduction of Revolver Commitments. (i) The Revolver Commitments shall terminate on the Maturity Date. US Borrower Borrowers may reduce the US Revolver Commitments Commitments, without premium prepayment or penalty penalty, to an amount (which may be zero) not less than the sum of (A) the US Revolver Usage as of such date, plus (B) the principal amount of all US Advances not yet made as to which a request has been given by a US Borrower Borrowers under Section 2.3(a), plus (C) the amount of all US Letters of Credit not yet issued as to which a request has been given by US Borrower Borrowers pursuant to Section 2.11(a). Canadian Borrowers Borrower may reduce the Canadian Revolver Commitments Commitments, without premium prepayment or penalty penalty, to an amount (which may be zero) not less than the sum of (A) the Canadian Revolver Usage as of such date, plus (B) the principal amount of all Canadian Advances not yet made as to which a request has been given by a Canadian Borrower under Section 2.3(a), plus (C) the amount of all Canadian Letters of Credit not yet issued as to which a request has been given by a Canadian Borrower pursuant to Section 2.11(a2.12(a). Each such reduction shall be in an amount which is not less than $1,000,000 5,000,000 (unless the applicable Revolver Commitments are being reduced to zero and the amount of the applicable such Revolver Commitments in effect immediately prior to such reduction are less than $1,000,0005,000,000), shall be made by providing not less than 10 Business Days prior written notice to the applicable Agent, Agent and shall be irrevocable. Once reduced, the applicable Revolver Commitments may not be increasedincreased except pursuant to Section 2.1(e). Each such reduction of the Revolver Commitments shall reduce the applicable Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Reduction of Revolver Commitments. (i) The Revolver Commitments shall terminate on the Maturity Date. US Borrower Borrowers may reduce the US Revolver Commitments without premium or penalty to an amount (which may be zero) not less than the sum of (A) the US Revolver Usage as of such date, plus (B) the principal amount of all US Advances Revolving Loans not yet made as to which a request has been given by a US Borrower Borrowers under Section 2.3(a), plus (C) the amount of all US Letters of Credit not yet issued as to which a request has been given by US Borrower pursuant Borrowers. Each such reduction shall be in an amount which is not less than $5,000,000 (unless the US Revolver Commitments are being reduced to Section 2.11(azero and the amount of the US Revolver Commitments in effect immediately prior to such reduction are less than $30,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Canadian Borrowers Borrower may reduce the Canadian Revolver Commitments without premium or penalty to an amount (which may be zero) not less than the sum of (A) the Canadian Revolver Usage as of such date, plus (B) the principal amount of all Canadian Advances Revolving Loans not yet made as to which a ​ request has been given by a Canadian Borrower under Section 2.3(a), plus (C) the amount of all Canadian Letters of Credit not yet issued as to which a request has been given by a Canadian Borrower pursuant to Section 2.11(a)Borrower. Each such reduction shall be in an amount which is not less than $1,000,000 2,000,000 (unless the applicable Canadian Revolver Commitments are being reduced to zero and the amount of the applicable Revolver Commitments in effect immediately prior to such reduction are less than $1,000,000zero), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Belgian Borrower may reduce the applicable Belgian Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the Belgian Revolver Usage as of such date, plus (B) the principal amount of all Belgian Revolving Loans not yet made as to which a request has been given by Belgian Borrower under Section 2.3(a), plus (C) the amount of all Belgian Letters of Credit not yet issued as to which a request has been given by Belgian Borrower. Each such reduction shall be in an amount which is not less than €2,000,000 (unless the Belgian Revolver Commitments are being reduced to zero), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. German Borrower may reduce the German Revolver Commitments to an amount (which may be zero) not less than the sum of (A) the German Revolver Usage as of such date, plus (B) the principal amount of all German Revolving Loans not yet made as to which a request has been given by German Borrower under Section 2.3(a), plus (C) the amount of all German Letters of Credit not yet issued as to which a request has been given by German Borrower. Each such reduction shall be in an amount which is not less than €5,000,000 (unless the German Revolver Commitments are being reduced to zero), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the applicable Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce (x) the applicable Revolver Commitments of each Lender proportionately in accordance with its ratable share thereofthereof and (y) the US Maximum Revolver Amount, in the case of US Revolver Commitment reductions, the Canadian Maximum Revolver Amount in the case of Canadian Revolver Commitment reductions, the Belgian Maximum Revolver Amount in the case of Belgian Revolver Commitment reductions and the German Maximum Revolver Amount in the case of German Revolver Commitment reductions. In connection with any reduction in the Revolver Commitments prior to the Maturity Date, if any Loan Party or any of its Subsidiaries owns any Margin Stock, Borrowers shall deliver to Agent an updated Form U-1 (with sufficient additional originals thereof for each Lender), duly executed and delivered by the Borrowers, together with such other documentation as Agent shall reasonably request, in order to enable Agent and the Lenders to comply with any of the requirements under Regulations T, U or X of the Federal Reserve Board.

Reduction of Revolver Commitments. (i) The Revolver Commitments shall terminate on the Maturity Date. US Borrower Borrowers may reduce the US Revolver Commitments without premium or penalty to an amount (which may be zero) not less than the sum of (A) the US Revolver Usage as of such date, plus (B) the principal amount of all US Advances Revolving Loans not yet made as to which a request has been given by a US Borrower Borrowers under Section 2.3(a), plus (C) the amount of all US Letters of Credit not yet issued as to which a request has been given by US Borrower pursuant Borrowers. Each such reduction shall be in an amount which is not less than $5,000,000 (unless the US Revolver Commitments are being reduced to Section 2.11(azero and the amount of the US Revolver Commitments in effect immediately prior to such reduction are less than $30,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Canadian Borrowers Borrower may reduce the Canadian Revolver Commitments without premium or penalty to an amount (which may be zero) not less than the sum of (A) the Canadian Revolver Usage as of such date, plus (B) the principal amount of all Canadian Advances Revolving Loans not yet made as to which a request has been given by a Canadian Borrower under Section 2.3(a), plus (C) the amount of all Canadian Letters of Credit not yet issued as to which a request has been given by a Canadian Borrower pursuant to Section 2.11(a)Borrower. Each such reduction shall be in an amount which is not less than $1,000,000 2,000,000 (unless the applicable Canadian Revolver Commitments are being reduced to zero and the amount of the applicable Revolver Commitments in effect immediately prior to such reduction are less than $1,000,000zero), shall be made by providing not less than 10 Business Days prior written notice to the applicable Agent, and shall be irrevocable. Once reduced, the applicable Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce (x) the applicable Revolver Commitments of each Lender proportionately in accordance with its ratable share thereofthereof and (y) the US Maximum Revolver Amount, in the case of US Revolver Commitment reductions, and the Canadian Maximum Revolver Amount in the case of Canadian Revolver Commitment reductions.