Common use of Reductions in Revolving Loan Commitments Clause in Contracts

Reductions in Revolving Loan Commitments. (i) The Borrower may at any time upon at least two (2) Business Days’ (or such shorter period as is acceptable to Agent) prior written notice by the Borrower to Agent permanently reduce the Aggregate Original Revolving Loan Commitment; provided, that (i) such reductions shall be in an amount greater than or equal to $1,000,000, (ii) no reductions to the Aggregate Original Revolving Loan Commitment may be made at a time when the Aggregate LIFO Revolving Loan Commitment is greater than $0 and (iii) after giving effect to such reduction, Availability shall be not less than $5,000,000. All reductions of the Aggregate Original Revolving Loan Commitment shall be allocated pro rata among all Lenders with an Original Revolving Loan Commitment. A permanent reduction of the Aggregate Original Revolving Loan Commitment shall not require a corresponding pro rata reduction in the L/C Sublimit or the Swingline Commitment; provided, that the L/C Sublimit and/or the Swingline Commitment, as applicable, shall be permanently reduced by the amount thereof in excess of the Aggregate Original Revolving Loan Commitment. The Borrower shall not be permitted to permanently reduce the Aggregate LIFO Revolving Loan Commitment prior to the LIFO Revolving Calculation Date (except as otherwise agreed by the Required LIFO Revolving Lenders). The Required LIFO Revolving Lenders shall be permitted to permanently reduce the Aggregate LIFO Revolving Loan Commitment at any time after the LIFO Revolving Calculation Date. (ii) [reserved].

Reductions in Revolving Loan Commitments. (i) The Borrower may at any time upon at least two (2) Business Days’ (or Days’(or such shorter period as is acceptable to Agent) prior written notice by the Borrower to Agent permanently reduce (but not terminate) the Aggregate Original Revolving Loan Commitment; provided, that (ia) such prepayments or reductions shall be in an amount greater than or equal to $1,000,000, (iib) no reductions to the Aggregate Original Revolving Loan Commitment shall not be reduced to an amount less than the greater of (i) $50,000,000 and (ii) the sum of the aggregate outstanding principal balance of Revolving Loans, Swing Loans plus Letter of Credit Obligations outstanding and (c) any reduction in the Revolving Credit Agreement shall cause a corresponding pro rata reduction in the Swingline Commitment. In addition, Borrower may be made at a any time when on at least five (5) days’ prior written notice by Borrower to Agent terminate the Aggregate LIFO Revolving Loan Commitment; provided, that upon such termination, all Obligations shall be immediately due and payable in full and all Letter of Credit Obligations shall be cash collateralized or otherwise satisfied in accordance herewith. Optional reductions or terminations of the Revolving Loan Commitment is greater than $0 and (iii) after giving effect to such reduction, Availability shall be not less than $5,000,000without premium or penalty except as provided in Section 10.4. All reductions of the Aggregate Original Revolving Loan Commitment shall be allocated pro rata among all Lenders with an Original a Revolving Loan Commitment. A permanent reduction of the Aggregate Original Revolving Loan Commitment shall not require a corresponding pro rata reduction in the L/C Sublimit or the Swingline Commitment; provided, that the L/C Sublimit and/or the Swingline Commitment, as applicable, shall be permanently reduced by the amount thereof in excess of the Aggregate Original Revolving Loan Commitment. The Borrower shall not be permitted to permanently reduce the Aggregate LIFO Revolving Loan Commitment prior to the LIFO Revolving Calculation Date (except as otherwise agreed by the Required LIFO Revolving Lenders). The Required LIFO Revolving Lenders shall be permitted to permanently reduce the Aggregate LIFO Revolving Loan Commitment at any time after the LIFO Revolving Calculation DateSublimit. (ii) [reserved].

Reductions in Revolving Loan Commitments. (i) The Borrower may at any time upon at least two (2) Business Days’ (or such shorter period as is acceptable to Agent) prior written notice by the Borrower to Agent permanently reduce the Aggregate Original Revolving Loan Commitment; provided, that (i) such reductions shall be in an amount greater than or equal to $1,000,000, and (ii) no reductions to the Aggregate Original Revolving Loan Commitment Commitme nt may be made at a time when the Aggregate LIFO Revolving Loan Commitment Co mmi tment is greater greate r than $0 and (iiiiii ) after giving effect to such reduction, Availability shall be not less than $5,000,000. All reductions of the Aggregate Original Or iginal Revolving Loan Commitment shall be allocated pro rata among all Lenders with an Original aan Or ig ina l Revolving Loan Commitment. A permanent reduction of the Aggregate Original Revolving Loan Commitment shall not require a corresponding pro rata reduction in the L/C Sublimit or the Swingline Commitment; provided, that the L/C Sublimit and/or the Swingline Commitment, as applicable, shall be permanently reduced by the amount thereof in excess of the Aggregate Original Orig inal Revolving Loan Commitment. The Borrower Borrow er shall not be permitted to permanently reduce the th e Aggregate LIFO Revolving Loan Commitment prior to the LIFO Revolving Calculation Calc ulation Date (except as otherwise agreed other wise xx xxxx by the Required LIFO Revolving Lenders). The Required Requi red LIFO Revolving Lenders shall be permitted to permanently reduce the Aggregate LIFO Revolving Loan Commitment at any an y time after the LIFO Revolving Revolvi ng Calculation Date. (ii) [reserved].