Common use of Reduction of Total Commitment Clause in Contracts

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time prior to the Maturity Date upon three (3) Business Days’ prior written notice to the Administrative Agent to reduce by $5,000,000 or any whole multiple of $1,000,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitment Amount of each Lender shall be reduced pro rata in accordance with its Commitment Percentage by the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this §2.5, the Administrative Agent will notify the Lenders of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Administrative Agent for the respective accounts of the Lenders the full amount of the Facility Fee then accrued on the amount of the reduction. No reduction or termination of the Total Commitment may be reinstated.

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time prior to the Maturity Date upon three (3) Business Days’ prior written notice to the Administrative Agent to reduce by $5,000,000 or any whole an integral multiple of $1,000,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitment Amount of each Lender shall be reduced pro rata in accordance with its Commitment Percentage by the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this §2.5, the Administrative Agent will notify the Lenders of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Administrative Agent for the respective accounts of the Lenders the full amount of the Facility Fee then accrued on the amount of the reduction. No reduction or termination of the Total Commitment may be reinstated.

Reduction of Total Commitment. The Borrower shall have the right at any time and from time to time prior to the Maturity Date upon three five (35) Business Days’ prior written notice to the Administrative Agent to reduce by the minimum amount of $5,000,000 or any whole multiple and integral multiples of $1,000,000 in excess thereof thereafter or to terminate entirely the Total Commitment, whereupon the Commitment Amount Commitments of each Lender the Lenders shall be reduced pro rata in accordance with its their respective Commitment Percentage by Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this §2.52.3, the Administrative Agent will notify the Lenders of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Administrative Agent for the respective accounts of the Lenders the full amount of the Facility any Commitment Fee then accrued on the amount of the reduction. No reduction or termination of the Total Commitment Commitments may be reinstated.