Common use of Voluntary Commitment Reduction Clause in Contracts

Voluntary Commitment Reduction. Without premium or penalty, and upon giving not less than ten Business Days prior written and irrevocable notice to Administrative Agent, Borrower may terminate in whole or in part the unused portion of the Revolver Commitment, the Swing Line Commitment, or the commitment under the LC Subfacility; PROVIDED THAT: (i) each partial termination of the Revolver Commitment shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; and each partial termination of the Swing Line Commitment or the commitment under the LC Subfacility shall be in an amount of not less than $1,000,000 or a greater integral multiple of $250,000; and (ii) on any date of determination, the amount of the Revolver Commitment may not be reduced below the Revolver Commitment Usage; the Swing Line Commitment may not be reduced below the Swing Line Principal Debt; and the commitment under the LC Subfacility may not be reduced below the LC Exposure. At the time of any commitment termination under this SECTION 2.7, Borrower shall pay to Administrative Agent, for the account of each Revolver Lender, as applicable, any amounts that may then be due under SECTION 3.3(c), all accrued and unpaid fees then due and payable under this Agreement, the interest attributable to the amount of that reduction, and any related Consequential Loss. Any part of the Revolver Commitment, the Swing Line Commitment, or the commitment under the LC Subfacility that is terminated may not be reinstated. MANDATORY COMMITMENT REDUCTIONS. To the extent any payment or reduction of the Revolver Principal Debt pursuant to SECTION 3.12(b) or any prepayment pursuant to SECTION 3.3(b) or (c) results in a mandatory reduction of the Revolver Commitment, then the Revolver Commitment shall be reduced by the amount of such payment, and each Revolver Lender's Committed Sum under the Revolver Facility shall be ratably reduced by such amount.

Voluntary Commitment Reduction. Without premium or penalty, and upon giving not less than ten Business Days prior written and irrevocable notice to Administrative Agent, Borrower may terminate in whole or in part the unused portion of the Total Revolver Commitment, the Swing Line Commitment, or the commitment under the LC Subfacility; PROVIDED THAT: (i) each partial termination of the Total Revolver Commitment shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; and each partial termination of the Swing Line Commitment or the commitment under the LC Subfacility shall be in an amount of not less than $1,000,000 or a greater integral multiple of $250,000; and (ii) on any date of determination, the amount of the Revolver Commitment may not be reduced below the Revolver Commitment Usage; the amount of any Discretionary Revolver Commitment for any Discretionary Revolver Loan may not be reduced below the Discretionary Revolver Principal Debt for such Discretionary Revolver Loan; the Swing Line Commitment may not be reduced below the Swing Line Principal Debt; , and the commitment under the LC Subfacility may shall not be reduced below the LC Exposure; and (iii) each reduction of the Total Revolver Commitment shall be allocated ratably among the Revolver Commitment and the Discretionary Revolver Commitment under all Discretionary Revolver Loans (for purposes hereof, "RATABLY" shall mean the proportion that the Revolver Commitment or the Discretionary Revolver Commitment under each Discretionary Revolver Loan bears to the Total Revolver Commitment). Concurrently with any reduction in any Discretionary Revolver Commitment for any Discretionary Revolver Loan, the Maximum Discretionary Commitment shall be reduced by a like amount. At the time of any commitment termination under this SECTION 2.7, Borrower shall pay to Administrative Agent, for the account of each Revolver Lender or each Discretionary Revolver Lender, as applicable, any amounts that may then be due under SECTION 3.3(c3.3(d), all accrued and unpaid fees then due and payable under this Agreement, the interest attributable to the amount of that reduction, and any related Consequential Loss. Any part of the Revolver Commitment, the Discretionary Revolver Commitment for any Discretionary Revolver Loan, the Maximum Discretionary Commitment, the Swing Line Commitment, or the commitment under the LC Subfacility that is terminated may not be reinstated. MANDATORY COMMITMENT REDUCTIONS. To the extent any payment or reduction of the Revolver Principal Debt pursuant to SECTION 3.12(b) or any prepayment pursuant to SECTION 3.3(b) or (c) results in a mandatory reduction of the Revolver Commitment, then the Revolver Commitment shall be reduced by the amount of such payment, and each Revolver Lender's Committed Sum under the Revolver Facility shall be ratably reduced by such amount.

Voluntary Commitment Reduction. Without premium or penalty, and upon giving not less than ten three Business Days prior written and irrevocable notice to Administrative Agent, Borrower Restricted Borrowers may terminate in whole or in part the unused portion of the Total Revolver Commitment, the Swing Line Commitment, Commitment or the commitment under the LC Subfacility; PROVIDED THATprovided that: (i) each partial termination of the Total Revolver Commitment shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; and each partial termination of the Swing Line Commitment or the commitment under the LC Subfacility shall be in an amount of not less than $1,000,000 or a greater integral multiple of $250,000; and (ii) on any date of determination, the amount of the Revolver Commitment may not be reduced below the Revolver Commitment Usage; the Swing Line amount of any Discretionary Revolver Commitment for any Discretionary Revolver Loan may not be reduced below the Swing Line Discretionary Revolver Principal DebtDebt for such Discretionary Revolver Loan; and the commitment under the LC Subfacility may shall not be reduced below the LC Exposure; and (iii) each reduction of the Total Revolver Commitment shall be allocated ratably among the Revolver Commitment and the Discretionary Revolver Commitment under all Discretionary Revolver Loans (for purposes hereof, "ratably" shall mean the proportion that the Revolver Commitment or the Discretionary Revolver Commitment under each Discretionary Revolver Loan bears to the Total Revolver Commitment). Concurrently with any reduction in any Discretionary Revolver Commitment for any Discretionary Revolver Loan, the Maximum Discretionary Commitment shall be reduced by a like amount. At the time of any commitment termination under this SECTION 2.7Section 2.5, Borrower Restricted Borrowers shall pay to Administrative Agent, for the account of each Revolver Lender or each Discretionary Revolver Lender, as applicable, any amounts that may then be due under SECTION 3.3(cSection 3.3(d), all accrued and unpaid fees then due and payable under this Agreement, the interest attributable to the amount of that reduction, and any related Consequential Loss. Any part of the Revolver Commitment, the Swing Line Discretionary Revolver Commitment for any Discretionary Revolver Loan, the Maximum Discretionary Commitment, or the commitment under the LC Subfacility that is terminated may not be reinstated. MANDATORY COMMITMENT REDUCTIONS. To the extent any payment or reduction of the Revolver Principal Debt pursuant to SECTION 3.12(b) or any prepayment pursuant to SECTION 3.3(b) or (c) results in a mandatory reduction of the Revolver Commitment, then the Revolver Commitment shall be reduced by the amount of such payment, and each Revolver Lender's Committed Sum under the Revolver Facility shall be ratably reduced by such amount.

Voluntary Commitment Reduction. Without premium or penalty, and upon giving not less than ten three Business Days prior written and irrevocable notice to the Administrative Agent, Borrower the Borrowers may terminate in whole or in part the unused portion of the Total Revolver Commitment, the Swing Line Commitment, Commitment or the commitment under the LC Subfacility; PROVIDED THATprovided that: (i) each partial termination of the Total Revolver Commitment shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; and each partial termination of the Swing Line Commitment or the commitment under the LC Subfacility shall be in an amount of not less than $1,000,000 or a greater integral multiple of $250,000; and (ii) on any date of determination, the amount of the Revolver Commitment may not be reduced below the Revolver Commitment Usage; the Swing Line amount of any Discretionary Revolver Commitment for any Discretionary Revolver Loan may not be reduced below the Swing Line Discretionary Revolver Principal DebtDebt for such Discretionary Revolver Loan; and the commitment under the LC Subfacility may shall not be reduced below the LC Exposure; and (iii) each reduction of the Total Revolver Commitment shall be allocated ratably among the Revolver Commitment and the Discretionary Revolver Commitment under all Discretionary Revolver Loans (for purposes hereof, "ratably" shall mean the proportion that the Revolver Commitment or the Discretionary Revolver Commitment under all Discretionary Revolver Loan bears to the Total Revolver Commitment). Concurrently with any reduction in any Discretionary Revolver Commitment for any Discretionary Revolver Loan, the Maximum Discretionary Commitment shall be reduced by a like amount. At the time of any commitment termination under this SECTION 2.7Section 2.5, Borrower the Borrowers shall pay to the Administrative Agent, for the account of each Revolver Lender, Lender or each Discretionary Revolver Lender (as applicable), any amounts that may then be due under SECTION 3.3(cSection 3.3(d), all accrued and unpaid fees then due and payable under this Agreement, the interest attributable to the amount of that reduction, and any related Consequential Loss. Any part of the Revolver Commitment, the Swing Line Discretionary Revolver Commitment for any Discretionary Revolver Loan, the Maximum Discretionary Commitment, or the commitment under the LC Subfacility that is terminated may not be reinstated. MANDATORY COMMITMENT REDUCTIONS. To the extent any payment or reduction of the Revolver Principal Debt pursuant to SECTION 3.12(b) or any prepayment pursuant to SECTION 3.3(b) or (c) results in a mandatory reduction of the Revolver Commitment, then the Revolver Commitment shall be reduced by the amount of such payment, and each Revolver Lender's Committed Sum under the Revolver Facility shall be ratably reduced by such amount.