Common use of U.S. Revolving Commitments Clause in Contracts

U.S. Revolving Commitments. The U.S. Revolving Commitments shall terminate on the Revolving Termination Date. The U.S. Borrowers may reduce the U.S. Revolving Commitments to an amount (which may be zero) not less than the sum of (A) the U.S. Usage as of such date, plus (B) the principal amount of any U.S. Advances not yet made as to which a request has been given by the U.S. Borrowers under Section 2.2(a), plus (C) amount of all U.S. Letters of Credit not yet issued as to which a request has been given by the U.S. Borrowers; provided, that the U.S. Borrowers may reduce the U.S. Revolving Commitments below such amount so long as such reduction is accompanied by the prepayment of U.S. Advances or U.S. Swingline Loan and/or the Collateralization of U.S. Letters of Credit in an amount equal to any such excess. Each such reduction shall be in an amount which is not less than $500,000 (unless the U.S. Revolving Commitments are being reduced to zero and the amount of the applicable U.S. Revolving Commitments in effect immediately prior to such reduction are less than $500,000), shall be made by providing not less than 2 Business Days prior written notice to the Administrative Agent, and shall be irrevocable; provided, that if any notice of termination of the U.S. Revolving Commitments indicates that such termination is to be made in connection with a Refinancing of the Facilities, such notice of termination may be revoked if such Refinancing is not consummated and any Contract Rate Loan that was the subject of such notice shall be continued as a U.S. Base Rate Loan or a EURIBOR Loan with an Interest Period of one month, as applicable.