Common use of Termination and Reduction of Commitment Clause in Contracts

Termination and Reduction of Commitment. The Borrower may terminate the Commitment, or reduce the amount thereof, by giving written notice to the Lender, not later than 5:00 P.M., New York time, on the fifth Business Day prior to the date of termination or reduction (or such later time or date as the Lender may in its sole discretion permit).