Reduction of Revolving Commitment. (i) In addition to the commitment reductions pursuant to Section 2.12(c)(ii) and 2.13(g), the Revolving Commitments shall be permanently reduced and terminated in full on the Maturity Date with respect to the Revolving Credit Facility. Any outstanding principal balance of the Revolving Loans not sooner due and payable will become due and payable on such Maturity Date and shall be accompanied by accrued interest on the amount repaid, any applicable fees pursuant to Section 3.5 and any other fees required hereunder.
(ii) The Borrower shall have the right at any time after the First Restatement Effective Date upon five (5) days’ prior written notice to the Administrative Agent to permanently reduce (ratably among the Revolving Lenders in proportion to their Pro Rata Shares) the Revolving Commitments, in a minimum amount of $2,000,000 and whole multiples of $1,000,000, or to terminate completely the Revolving Commitments, without penalty or premium except as hereinafter set forth; provided that any such reduction or termination shall be accompanied by prepayment of the Revolving Loans and Cash Collateralization of the Letters of Credit, together with outstanding Unused Revolving Commitment Fees and Letter of Credit Fees, and the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 3.5 hereof) to the extent necessary to cause the aggregate Revolving Credit Facility Usage after giving effect to such prepayments and Cash Collateralization to be equal to or less than the Revolving Commitments as so reduced or terminated. Any notice to reduce the Revolving Commitments under this Section 2.12(c)(ii) shall be irrevocable.
Reduction of Revolving Commitment. The Revolving Commitments shall be reduced at the time and in the amounts required to be reduced pursuant to Section 4.4.
Reduction of Revolving Commitment. The Borrower shall have the right, upon at least three Business Days' irrevocable notice to the Agent, to terminate in whole or reduce ratably in part the unused portion of the Revolving Commitments; provided that each partial reduction of the Revolving Commitments shall be in the aggregate amount of $5,000,000.00 or in integral multiples of $1,000,000.00 in excess thereof. Any reduction or termination of the Revolving Commitments pursuant to this Section 2.01(c) shall be permanent, with no obligation of the Banks to reinstate such Revolving Commitments and the commitment fees provided for in Section 2.07(a) shall thereafter be computed on the basis of the Revolving Commitments, as so reduced.
Reduction of Revolving Commitment. Section 2.1(e) of the Credit Agreement is hereby amended to read in its entirety as follows:
Reduction of Revolving Commitment. (i) In addition to the commitment reductions pursuant to Sections 2.9(b)(ii) and 2.10(b), the Revolving Commitment shall be permanently reduced and terminated in full on the Maturity Date. Any outstanding principal balance of the Revolving Loans not sooner due and payable will become due and payable on such Maturity Date and shall be accompanied by accrued interest on the amount repaid, any applicable fees pursuant to Section 3.5 and any other fees required hereunder.
(ii) The Borrower shall have the right at any time after the Closing Date upon five (5) days’ prior written notice to the Administrative Agent to permanently reduce (ratably among the Lenders in proportion to their Pro Rata Shares) the Revolving Commitments, in a minimum amount of $1,000,000 and whole multiples of $250,000, or to terminate completely the Revolving Commitments, without penalty or premium except as hereinafter set forth; provided that any such reduction or termination shall be accompanied by prepayment of the Revolving Loans, together with outstanding Unused Commitment Fees, and the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 3.5 hereof) to the extent necessary to cause the aggregate Revolving Credit Facility Usage after giving effect to such prepayments to be equal to or less than the Revolving Commitments as so reduced or terminated. Any notice to reduce the Revolving Commitments under this Section 2.9(b)(ii) shall be irrevocable.
Reduction of Revolving Commitment. On each date that the Revolving Commitments are reduced pursuant to Section 2.6 or clause (b) of this Section 5.4 prior to the Revolving Termination Date, Borrower shall prepay the Loans in the amount, if any, by which the sum of the total Revolving Exposure exceeds the total Revolving Commitments (as reduced) together with any amounts due under Section 6.5 as a result of such prepayment or , if no Loans are outstanding, deposit cash collateral in an account with Agent pursuant to Section 2.7(j) in an amount equal to such excess.
Reduction of Revolving Commitment. Effective as of October 1, 2015, the Revolving Commitment shall be permanently reduced to an aggregate amount of $30,000,000. The Lender hereby waives the requirement under Section 2.05 of the Credit Agreement that the Borrower provide the Lender with five Business Days prior written notice of such reduction of the Revolving Commitment.
Reduction of Revolving Commitment. If at any time the outstanding principal amount of the Revolving Loans, plus the aggregate stated amount of all Letters of Credit exceeds the Revolving Commitment, as the Revolving Commitment may be reduced pursuant to the terms hereof, the Borrower shall immediately prepay the Revolving Notes without penalty or premium (except that any such prepayment of any LIBOR Loan shall be made together with the applicable Prepayment Premium), in an amount necessary to cause the outstanding principal amount of the Revolving Loans, plus the aggregated stated amount of all Letters of Credit not to exceed the Revolving Commitment, as so reduced.
Reduction of Revolving Commitment. Notwithstanding the provisions of SECTION 2.8, the Revolving Commitment is hereby reduced to $10,000,000. The reference to "$ 12,000,000" contained in the definition of "REVOLVING COMMITMENT" is hereby replaced with "$ 10,000,000".
SECTION 1.1 NEW DEFINITION OF "UNAUGMENTED BORROWING BASE AMOUNT". The following definition is hereby added to the Loan Agreement:
Reduction of Revolving Commitment. Section 1.1 of the Loan Agreement is hereby further amended such that the definition of "Revolving Commitment" shall read in full as follows:
