Termination, Reduction and Extension of Commitment Sample Clauses

Termination, Reduction and Extension of Commitment. (a) Unless previously terminated in accordance with this Credit Agreement, the Commitment shall terminate on the Scheduled Commitment Termination Date. (b) The Borrower may at any time terminate, or from time to time reduce, the Commitment, provided that (i) the Borrower may not terminate or reduce the Commitment if, immediately after giving effect thereto and to any concurrent repayment of the Loans in accordance with Section 2.4 or 2.5, the Principal Obligations would exceed the Commitment, (ii) each such reduction shall be in a minimum amount of $5,000,000 and in an integral multiple of $1,000,000, and (iii) in connection with any such termination or reduction on or prior to the date that is fifteen (15) months after the Closing Date, the Borrower shall pay to the Bank, in addition to any other amounts payable by the Borrower hereunder, a prepayment premium equal to the applicable Make Whole Fee. (c) The Borrower shall notify the Bank of any election to terminate or reduce the Commitment under paragraph (b) of this Section at least five (5) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable and any termination or reduction of the Commitment hereunder shall be permanent; provided that any such notice of termination may be revoked without penalty or premium if such termination is contingent on a refinancing and such refinancing does not occur for any reason. Each termination or reduction of the Commitment shall be accompanied by the payment of accrued and unpaid Commitment Fees to the extent required by Section 3.2. (d) The Borrower may at any time and from time to time (but not less than thirty (30) days prior to the then in effect Scheduled Commitment Termination Date) request in writing that the Bank consent (such consent to be in the sole and absolute discretion of the Bank) to extend the Scheduled Commitment Termination Date by not more than 364 days after the date of approval of such request. In the event that the Bank shall have consented to such extension request, the Scheduled Commitment Termination Date shall, subject to Section 8.2, be extended to such date. In the event that the Bank fails to respond to such request within twenty (20) calendar days of receipt thereof, the Bank shall be deemed to have rejected such request and the then existing Scheduled Commitment Termination Date...