Common use of Reduction of Revolving Credit Commitments Clause in Contracts

Reduction of Revolving Credit Commitments. The Borrowers shall have the right at any time and from time to time upon five (5) Business Days’ prior written notice to Administrative Agent to permanently and ratably reduce, in whole multiples of $1,000,000 of principal, or terminate, the Revolving Credit Commitments without penalty or premium, except as hereinafter set forth, provided that any such reduction or termination shall be accompanied by: (i) the payment in full of any Commitment Fee and any other fees then accrued on the amount of such reduction or termination, (ii) prepayment of the Revolving Credit Notes in accordance with Section 5.6.1 [Right to Prepay] (together with cash collateralization, if necessary, of the Letters of Credit), together with the full amount of interest accrued on the principal sum to be prepaid, to the extent that the aggregate amount thereof then outstanding exceeds the Revolving Credit Commitments as so reduced or terminated. From the effective date of any such reduction or termination, the obligations of Borrowers to pay the Commitment Fee shall correspondingly be reduced or cease, as the case may be.

Reduction of Revolving Credit Commitments. The Borrowers Borrower shall have the right at any time and from time to time after the Closing Date upon five (5) Business Days’ days' prior written notice to the Administrative Agent to permanently and reduce (ratably reduceamong the Lenders in proportion to their Ratable Shares) the Revolving Credit Commitments, in a minimum amount of $5,000,000 and whole multiples of $1,000,000 of principal1,000,000, or terminate, to terminate completely the Revolving Credit Commitments Commitments, without penalty or premium, premium except as hereinafter set forth, ; provided that any such reduction or termination shall be accompanied by: (i) the payment in full of any Commitment Fee and any other fees then accrued on the amount of such reduction or termination, (ii) by prepayment of the Revolving Credit Notes in accordance with Section 5.6.1 [Right to Prepay] (together with cash collateralization, if necessary, of the Letters of Credit)Notes, together with outstanding Commitment Fees, and the full amount of interest accrued on the principal sum to be prepaid, prepaid (and all amounts referred to in Section 5.10 [Indemnity] hereof) to the extent that necessary to cause the aggregate amount thereof then outstanding exceeds Revolving Facility Usage after giving effect to such prepayments to be equal to or less than the Revolving Credit Commitments as so reduced or terminated. From Any notice to reduce the effective date of any such reduction or termination, the obligations of Borrowers to pay the Commitment Fee Revolving Credit Commitments under this Section 2.11 shall correspondingly be reduced or cease, as the case may beirrevocable.

Reduction of Revolving Credit Commitments. The Borrowers Borrower shall have the right at any time and from time to time upon five (5) Business Days’ prior written notice to Administrative Agent to permanently and ratably reduce, in whole multiples of $1,000,000 of principal, or terminate, the Revolving Credit Commitments without penalty or premium, except as hereinafter set forth, provided that any such reduction or termination shall be accompanied by: (i) the payment in full of any Commitment Fee and any other fees then accrued on the amount of such reduction or termination, (ii) prepayment of the Revolving Credit Notes in accordance with Section 5.6.1 [Right to Prepay] (together with cash collateralization, if necessary, of the Letters of Credit), together with the full amount of interest accrued on the principal sum to be prepaid, to the extent that the aggregate amount thereof then outstanding exceeds the Revolving Credit Commitments as so reduced or terminated. From the effective date of any such reduction or termination, the obligations of Borrowers Borrower to pay the Commitment Fee shall correspondingly be reduced or cease, as the case may be.