Common use of Termination and Voluntary Reductions of Revolving Commitments Clause in Contracts

Termination and Voluntary Reductions of Revolving Commitments. The Revolving Commitments shall terminate on the Revolving Commitment Termination Date. Borrowers may terminate or from time to time reduce the Revolving Commitments by giving not less than thirty (30) days’ prior written notice to Administrative Agent. Any request from Borrowers for the reduction of the Revolving Commitments must specify the amount of the requested reduction. Each reduction shall be in a minimum amount of Five Million Dollars ($5,000,000) or any greater integral increment of One Million Dollars ($1,000,000). Borrowers may not reduce the Revolving Commitments to an amount less than Twenty Million Dollars ($20,000,000), except in connection with the termination of the Revolving Commitments. If the Revolving Commitments are ever terminated by Borrowers, Borrowers must pay in full upon such termination becoming effective the Revolving Loans and all other Obligations then outstanding. All reductions of the Revolving Commitments shall be applied on a Pro Rata basis. Except to the extent otherwise agreed in writing by Administrative Agent and the Required Lenders, any request from Borrowers for the termination or reduction of the Revolving Commitments shall be irrevocable, once made and received.

Termination and Voluntary Reductions of Revolving Commitments. The Revolving Commitments shall terminate on the Revolving Commitment Termination Date. Borrowers may terminate or from time to time reduce the Revolving Commitments by giving not less than thirty (30) days’ prior written notice to Administrative Agent. Any request from Borrowers for the reduction of the Revolving Commitments must specify the amount of the requested reduction. Each reduction shall be in a minimum amount of Five Million Dollars ($5,000,000) 5,000,000 or any greater integral increment of One Million Dollars ($1,000,000). Borrowers may not reduce the Revolving Commitments to an amount less than Twenty Million Dollars ($20,000,000)45,000,000, except in connection with the termination of all of the Revolving Commitments. If the Revolving Commitments are ever terminated by Borrowers, Borrowers must pay Pay in full Full upon such termination becoming effective the Revolving Loans and all other Obligations then outstanding. All reductions of the Revolving Commitments shall be applied on a Pro Rata basis. Except to the extent otherwise agreed in writing by Administrative Agent and the Required Lenders, any request from Borrowers for the termination or reduction of the Revolving Commitments shall be irrevocable, once made and received.