Revolving Commitment Reduction Clause Samples

Revolving Commitment Reduction. Each Lender by its execution of this Agreement, hereby acknowledges, agrees and confirms its Revolving Commitment in the aggregate principal amount for such Lender as set forth on Schedule 1.1(a) attached hereto and its obligation to make its portion of the Revolving Loans to the Borrower from time to time in accordance with the provisions of the Credit Agreement. Each Lender acknowledges, agrees and confirms that Schedule 1.1(a) attached hereto reflects the Revolving Commitments of the Lenders under the Credit Agreement as of the Second Amendment Effective Date after giving effect to this Agreement. Pursuant to Section 3.1(b) herein, the Borrower shall repay to the Administrative Agent, for the account of the Lenders, the amount by which the sum of the outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations exceed the Revolving Committed Amount after giving effect to the reduction of the Revolving Commitments referenced in this Amendment on or prior to the Second Amendment Effective Date.

Revolving Commitment Reduction. The Borrower hereby irrevocably requests that, effective as of the Amendment Effective Date, the Revolving Commitments be reduced in accordance with Sections 2.08(b) and (c) of the Credit Agreement by an aggregate amount equal to $250,000,000 (the “Commitment Reduction”). The foregoing request constitutes the notification to the Administrative Agent required pursuant to Section 2.08(c) of the Credit Agreement, and the Lenders party hereto hereby waive the three Business Days advance notice required by Section 2.08(c) of the Credit Agreement with respect to the foregoing request.

Revolving Commitment Reduction. It is hereby acknowledged and agreed that, pursuant to Section 2.1.4 of the Existing Loan Agreement, Borrowers are deemed to have given irrevocable notice of a permanent reduction of the Revolving Commitments in the aggregate amount of $20,000,000, which reduction shall be applied to each Lender’s Commitment on a ratable basis for all Lenders on the date hereof. After giving effect to such reduction, the aggregate Revolving Commitments shall be $50,000,000.

Revolving Commitment Reduction. Effective on the Second Amendment Effective Date (as defined below), the aggregate Revolving Commitments shall automatically be permanently reduced to $10,000,000, such reduction to be allocated to the Lenders in the manner described in Section 2.13(a) of the Credit Agreement.