Reduction of Total Revolving Credit Commitment. Subject to Section 6.10, the Borrower shall have the right at any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $1,000,000 or integral multiples of $250,000 in excess thereof, or terminate entirely the Total Revolving Credit Commitment, whereupon the Revolving Credit Commitments of the Banks shall be reduced PRO RATA in accordance with their respective Revolving Credit Commitment 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 Section 2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks, in accordance with their Revolving Credit Commitment Percentages, the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Revolving Credit Commitments may be reinstated.

Reduction of Total Revolving Credit Commitment. The Borrowers shall have the right at any time and from time to time upon five (5) Business Days prior written notice to the Administrative Agent to reduce by $1,000,000 or an integral multiple of $500,000 in excess thereof or to terminate entirely the Total Revolving Credit Commitment, whereupon the Revolving Credit Commitments of the Lenders shall be reduced pro rata in accordance with their respective Revolving Credit Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrowers delivered pursuant to this §2.3, the Administrative Agent will notify the Lenders of the substance thereof. Upon the effective date of any such reduction or termination, the Borrowers shall pay to the Administrative Agent for the respective accounts of the Lenders the full amount of any Commitment Fee then accrued on the amount of the reduction. No reduction or termination of the Revolving Credit Commitments may be reinstated. In addition, the Total Revolving Credit Commitment shall be reduced in accordance with §4.3.

Reduction of Total Revolving Credit Commitment. (a) The Borrowers shall have the right at any time and from time to time upon five (5) Business Days’ prior written notice to the Administrative Agent to reduce by $5,000,000 or integral multiples of $1,000,000 in excess thereof, or terminate entirely, the Total Revolving Credit Commitment, whereupon the Commitments of the Revolving Credit Lenders shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. The Administrative Agent will notify the Revolving Credit Lenders promptly after receiving any notice of the Borrowers delivered pursuant to this §2.2.

Reduction of Total Revolving Credit Commitment. The Borrowers shall have the right at any time and from time to time upon five (5) Business Days' prior written notice to the Administrative Agent to reduce by $5,000,000 or integral multiples of $1,000,000 in excess thereof, or terminate entirely, the Total Revolving Credit Commitment, whereupon the Commitments of the Revolving Credit Lenders shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. The Administrative Agent will notify the Revolving Credit Lenders promptly after receiving any notice of the Borrowers delivered pursuant to this 2.2. No reduction or termination of the Commitments once made may be revoked; the portion of the Commitments reduced or terminated may not be reinstated; and amounts in respect of such reduced or terminated portion may not be reborrowed.

Reduction of Total Revolving Credit Commitment. The Borrowers shall, upon not less than three (3) Business Days' notice to the Agent from an Authorized Agent, have the right at any time to reduce the Total Revolving Credit Commitment to exactly $30,000,000, provided that the definition of "Borrowing Base" shall be simultaneously and automatically amended (effective on and after the date of such reduction) so that as amended it shall read as follows:

Reduction of Total Revolving Credit Commitment. TransTechnology shall have the right at any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $1,000,000 or an integral multiple thereof or terminate entirely the Total Revolving Credit Commitment, whereupon the Revolving Credit Commitments of the Lenders shall be reduced pro rata in accordance with their respective Revolving Credit Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of TransTechnology delivered pursuant to this Section 2.3, the Agent will notify the Lenders of the substance thereof. Upon the effective date of any such reduction or termination, TransTechnology shall pay to the Agent for the respective accounts of the Lenders the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Revolving Credit Commitments may be reinstated.

Reduction of Total Revolving Credit Commitment. (a) The Total Revolving Credit Commitment shall be automatically reduced in connection with certain mandatory repayments of the Loans as provided in Section 5.1.

Reduction of Total Revolving Credit Commitment. Effective as of the Fifth Amendment Effective Date, and subject to the satisfaction (or due waiver) of the conditions set forth in Section 4 of this Amendment, the Total Revolving Credit Commitment shall, without premium or penalty, be reduced by $7,500,000, in accordance with Section 2.05(a) of the Credit Agreement; provided that the Lenders agree that notwithstanding anything contrary thereto in the Credit Agreement, the Borrower shall not be required to provide written notice thereof to the Administrative Agent.

Reduction of Total Revolving Credit Commitment. The Borrowers shall have the right at any time and from time to time upon one (1) Business Days prior written notice (confirmed telephonically on the date of delivery of such written notice) or telephonic notice (confirmed in writing on the date of such telephonic notice) to the Agent to reduce the Total Revolving Credit Commitment in connection with a payment in full of the Obligations. Promptly after receiving any notice of the Borrowers delivered pursuant to this §2.3, the Agent will notify the Lenders of the substance thereof.

Reduction of Total Revolving Credit Commitment Sample Clauses

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