Reductions of the Commitments. (a) With effect on any Business Day, the Company (or the Master Servicer on behalf of the Company) may, from time to time upon at least three (3) Business Days prior written notice via electronic mail followed by telephonic confirmation to the Administrative Agent and each Funding Agent, elect to reduce any unfunded amount of the Aggregate Commitment (in whole or in part) in an amount equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof, provided that the Commitment of any Lender may not be reduced below $25,000,000 unless the Aggregate Commitment is reduced to $0; provided, further that after giving effect to any such reduction, the Aggregate Principal Balance (measured, if such reduction is to occur on a Settlement Date, after giving effect to any principal payments to be made on such Settlement Date) shall not exceed the Aggregate Commitment.
(b) Any reduction of the Aggregate Commitment pursuant to Section 4.3(a) shall be applied to the reduction of each Lender’s Commitment in accordance with each Lender’s Pro Rata Share.
(c) If a Lender Group becomes a Nonrenewing Lender Group pursuant to Section 4.4 below, the Commitment of each Committed Lender member of such Lender Group shall be zero and the Aggregate Commitment shall be reduced accordingly.
(d) Once the Aggregate Commitment is reduced pursuant to this Section 4.3 it may not subsequently be reinstated without the prior written consent of each Lender.
Reductions of the Commitments. The Commitment of each ----------------------------- Lender shall be automatically reduced to zero at the close of business (New York time) on the Commitment Termination Date. In addition, the Borrower shall have the right, upon at least five Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that (i) the aggregate amount of -------- the Commitments of the Lenders shall not be reduced pursuant to this sentence to an amount which is less than the aggregate principal amount of the Loans then outstanding and (ii) each partial reduction shall be in an aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof.
Reductions of the Commitments. (a) On any Business Day during the Series 1998-2 Revolving Period, the Company, on behalf of the Trust, may, upon three Business Days' prior written notice to the Funding Agent (effective upon receipt) (with copies to the Servicer and the Trustee) reduce or terminate the Commitments (a "COMMITMENT REDUCTION") in an aggregate amount equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof; PROVIDED that no such termination or reduction shall be permitted if, after giving effect thereto and to any reduction in the Series 1998-2 Invested Amount on such date, the Series 1998-2 Invested Amount would exceed the Aggregate Commitment Amount then in effect. Each APA Banks's Commitment shall be reduced by such APA Bank's Commitment Percentage of the amount of such Commitment Reduction.
(b) Once reduced, the Commitments may not be subsequently reinstated. Upon effectiveness of any such reduction, the Funding Agent shall prepare a revised Schedule 1 to reflect the reduced Commitment of each APA Bank and Schedule 1 of this Supplement shall be deemed to be automatically superseded by such revised Schedule 1. The Funding Agent shall distribute such revised Schedule 1 to the Company, the Servicer, the Trustee and each APA Bank.
Reductions of the Commitments. (a) The Commitment of each Lender shall be automatically reduced to zero on the Commitment Termination Date.
(b) In addition, the Borrower shall have the right, upon at least three Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in a minimum aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Once terminated or reduced, the Commitments may not be reinstated.
Reductions of the Commitments. (a) On any Business Day during the Series 1998-1 Revolving Period, the Company, on behalf of the Trust, may, upon three Business Days prior written notice to the Funding Agent (effective upon receipt) (with copies to the Servicer and the Trustee) reduce or terminate the Commitments (a "COMMITMENT REDUCTION") in a minimum aggregate amount equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof; PROVIDED that no such termination or reduction shall be permitted if, after giving effect thereto and to any reduction in the Series 1998-1 Invested Amount on such date, the Series 1998-1 Invested Amount would exceed the Maximum Invested Amount then in effect. Each APA Bank's Commitment shall be reduced by such APA Bank's Pro Rata Share of the amount of such Commitment Reduction.
(b) If an Early Amortization Period has commenced, the Aggregate Commitment Amount shall be reduced to 102% of the Maximum Invested Amount, and the Maximum Invested Amount shall be reduced to the Series 1998-1 Invested Amount. Each APA Bank's commitment shall be reduced by such APA Bank's Pro Rata Share of the amount of such reduction.
(c) Once reduced, the Commitments may not be subsequently reinstated. Upon effectiveness of any such reduction, the Funding Agent shall prepare a revised Schedule 1 to reflect the reduced Commitment of each APA Bank and Schedule 1 of this Supplement shall be deemed to be automatically superseded by such revised Schedule 1. The Funding Agent shall distribute such revised Schedule 1 to the Company, the Servicer, the Trustee and each APA Bank.
Reductions of the Commitments. (a) On any Business Day ----------------------------- during the Revolving Period, the Transferor, on behalf of the Trust, may, upon thirty (30) days' prior written notice (effective upon receipt) to the Agent (with a copy thereof to the Trustee) irrevocably reduce or terminate the Commitments (a "Commitment Reduction") in an aggregate amount equal to -------------------- $5,000,000 or a whole multiple of $1,000,000 in excess thereof; provided that no -------- such reduction shall be permitted if, after giving effect thereto and to any reduction in the Series 0000-0 Xxxxxxxxx Invested Amount on such date, the Series 0000-0 Xxxxxxxxx Invested Amount would exceed the Aggregate Commitment Amount then in effect or if the Commitments would be reduced to an amount less than $50,000,000. Each Series 1999-1 Certificateholder's Commitment shall be reduced by such Series 1999-1 Certificateholder's Commitment Percentage of the amount of such Commitment Reduction.
(b) Once reduced, the Commitments may not be subsequently reinstated without the written consent of each Series 1999-1 Certificateholder. Upon effectiveness of any such reduction, the Agent shall prepare a revised Schedule -------- 1 to this Supplement in order to reflect the reduced Commitment of each Series - 1999-1 Certificateholder and Schedule 1 to this Supplement shall be deemed to be ---------- automatically superseded by such revised Schedule 1. The Agent shall promptly ---------- distribute such revised Schedule 1 to the Transferor, the Servicer, the Trustee ---------- and each Series 1999-1 Certificateholder.
Reductions of the Commitments. Borrower shall have the right to terminate or reduce the aggregate unused amount of the Commitments of Lenders (other than the portion of the Commitments applicable to Swing Line Loans or issued and outstanding LCs) at any time and from time to time without penalty or premium upon not less than two Business Days prior written notice to Administrative Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction and shall be irrevocable once given and effective only upon receipt by Administrative Agent. Administrative Agent will promptly transmit such notice to each Lender. If a Commitment reduction is effected pursuant to this Section 2.12 at a time when the LC Commitment exceeds $100,000,000, or the Swing Line Commitment exceeds $50,000,000, then (a) the LC Commitment shall be automatically and permanently reduced by an amount equal to the lesser of (i) 16.66% of the amount of such Commitment reduction and (ii) the amount by which the LC Commitment exceeds $100,000,000 and (b) the Swing Line Commitment shall be automatically and permanently reduced by an amount equal to the lesser of (i) 8.33% of such Commitment reduction and (ii) the amount by which the Swing Line Commitment exceeds $50,000,000. Additionally, the Swing Line Commitment and the LC Commitment (as the case may be) shall be automatically and permanently reduced from time to time, on the date of any reduction in the Commitments of Lenders, by the amount, if any, by which the applicable Subfacility exceeds the aggregate Commitments of Lenders then in effect, after giving effect to such reduction of the Commitments. Additionally, the Commitments, once terminated or reduced, may not be increased or reinstated.
Reductions of the Commitments. (a) Unless previously terminated, the Commitment of each Lender shall be automatically reduced to zero on the Commitment Termination Date.
(b) In addition, the Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce permanently and ratably in part the unused portions of the Commitments of the Lenders, provided that (i) each partial reduction shall be in a minimum aggregate amount of US$5,000,000 or an integral multiple of US$1,000,000 in excess thereof, (ii) the aggregate Commitments of the Lenders shall not be reduced to an amount that is less than the total Revolving Exposure of the Lenders then outstanding and (iii) any such reduction shall be without prejudice to the terms of Sections 2.16(b) and 2.16(e). Once terminated or reduced, the Commitments may not be reinstated.
Reductions of the Commitments. (a) With effect on any Settlement Date, the Company (or the Master Servicer on behalf of the Company) may, from time to time upon at least three (3) Funding Business Days prior written notice to the Administrative Agent and each Funding Agent, elect to reduce the Aggregate Commitment (in whole or in part) in an amount equal to €5,000,000 or a whole multiple of €1,000,000 in excess thereof, provided that the Commitment of no Lender may be reduced below €5,000,000 unless the Aggregate Commitment is reduced to €0; provided further that after giving effect to any such reduction and any principal payments on the date on which the reduction is to take effect, the Aggregate Principal Balance shall not exceed the Aggregate Commitment.
(b) Once the Aggregate Commitment is reduced pursuant to this Section 4.3 it may not subsequently be reinstated without the prior written consent of each Lender.
(c) Any reduction of the Aggregate Commitment pursuant to this Section 4.3 shall be applied to the reduction of each Lender’s Commitment in accordance with each Lender’s Pro Rata Share.
Reductions of the Commitments. On any Business Day during the Series 2012-1 Revolving Period, CPF may, upon two (2) Business Days’ prior written notice to the Administrative Agent (effective upon receipt) (with copies to the Administrator and the Trustee) reduce the Series 2012-1 Maximum Invested Amount in an amount equal to $5,000,000 or a whole multiple of $250,000 in excess thereof; provided that no such termination or reduction shall be permitted if, after giving effect thereto and to any reduction in the Series 2012-1 Invested Amount on such date, the Purchaser Group Invested Amount with respect to any Purchaser Group would exceed the Maximum Purchaser Group Invested Amount with respect to such Purchaser Group then in effect. Any reduction in the Series 2012-1 Maximum Invested Amount shall be made on a pro rata basis to the Maximum Purchaser Group Invested Amounts with respect to the Purchaser Groups, based on the Maximum Purchaser Group Invested Amount with respect to each Purchaser Group. Once reduced, the Maximum Purchaser Group Invested Amounts may not be subsequently reinstated without each such Purchaser Group’s prior written consent, which consent shall be granted or not in the sole discretion of such Purchaser Group.”
