Common use of Voluntary Reduction of Commitment Clause in Contracts

Voluntary Reduction of Commitment. (a) Borrower shall have the right, at any time and from time to time, without penalty or charge, upon at least three (3) Banking Days' prior written notice by a Responsible Official of Borrower to the Administrative Agent, voluntarily to reduce, permanently and irrevocably, in aggregate principal amounts in an integral multiple of $1,000,000 but not less than $5,000,000, or to terminate, all or a portion of the then undisbursed portion of the Commitment; provided that -------- the Commitment may not be so reduced below an amount equal to the sum of --- -- (i) the aggregate principal amount outstanding under the Notes, plus ---- (ii) the Aggregate Effective Amount of all outstanding Letters of Credit plus (c) the Swing Line Outstandings. The Administrative Agent shall ---- promptly notify the Banks of any reduction or termination of the Commitment under this Section. (b) Any voluntary reduction of the Commitment under this Section shall be applied to reduce the Reduction Amount on such Reduction Dates as may be specified by Borrower or, if no such specification is made, to reduce the Reduction Amount for the most remote Reduction Date (to the extent of such reduction) and thereafter to earlier Reduction Dates (to the extent not previously applied) in the inverse order of their occurrence.

Voluntary Reduction of Commitment. (a) Borrower shall have the right, at any time and from time to time, without penalty or charge, upon at least three (3) Banking Business Days' prior written notice by a Responsible Official of Borrower to the Administrative Agent, voluntarily to reduce, permanently and irrevocably, in aggregate principal amounts in an integral multiple of $1,000,000 but not less than $5,000,000, or to terminate, all or a portion of the then undisbursed portion of the Commitment; provided PROVIDED that -------- the Commitment may not be so reduced below an amount equal to the sum of --- -- SUM OF (i) the aggregate principal amount outstanding under the Notes, plus ---- PLUS (ii) the Aggregate Effective Amount of all outstanding Letters of Credit plus (c) the Swing Line OutstandingsCredit. The Administrative Agent shall ---- promptly notify the Banks Lenders of any reduction or termination of the Commitment under this Section. (b) Any voluntary reduction of the Commitment under this Section shall be applied to reduce the Reduction Amount on such Reduction Dates as may be specified by Borrower or, if no such specification is made, to reduce the Reduction Amount for the most remote Reduction Date (to the extent of such reduction) and thereafter to earlier Reduction Dates (to the extent not previously applied) in the inverse order of their occurrence.

Voluntary Reduction of Commitment. (a) Borrower and the Co-Borrowers shall have the right, at any time and from time to time, without penalty or charge, upon at least three (3) Banking Days' prior written notice by a Responsible Official of Borrower and the Co-Borrowers to the Administrative Agent, voluntarily to reduce, permanently and irrevocably, in aggregate principal amounts in an integral multiple of $1,000,000 but not less than $5,000,000, or to terminate, all or a portion of the then undisbursed portion of the Commitment; provided that -------- the Commitment may not be so reduced below an -------- amount equal to the sum of --- -- (i) the aggregate principal amount outstanding --- -- under the Notes, plus ---- (ii) the Aggregate Effective Amount of all ---- outstanding Letters of Credit plus (c) the Swing Line Outstandings. The ---- Administrative Agent shall ---- promptly notify the Banks of any reduction or termination of the Commitment under this Section. (b) Any voluntary reduction of the Commitment under this Section shall be applied to reduce the Reduction Amount on such Reduction Dates as may be specified by Borrower and the Co-Borrowers or, if no such specification is made, to reduce the Reduction Amount for the most remote Reduction Date (to the extent of such reduction) and thereafter to earlier Reduction Dates (to the extent not previously applied) in the inverse order of their occurrence.

Voluntary Reduction of Commitment. (a) Borrower shall have the right, at any time and from time to time, without penalty or charge, upon at least three (3) Banking Business Days' prior written notice by a Responsible Official of Borrower to the Administrative Agent, voluntarily to reduce, permanently and irrevocably, in aggregate principal amounts in an integral multiple of $1,000,000 but not less than $5,000,000, or to terminate, all or a portion of the then undisbursed portion of the Commitment; provided that -------- the Commitment may not -------- be so reduced below an amount equal to the sum of --- -- (i) the aggregate --- -- principal amount outstanding under the Notes, plus ---- (ii) the Aggregate ---- Effective Amount of all outstanding Letters of Credit plus (c) the Swing Line OutstandingsCredit. The Administrative Agent shall ---- promptly notify the Banks Lenders of any reduction or termination of the Commitment under this Section. (b) Any voluntary reduction of the Commitment under this Section shall be applied to reduce the Reduction Amount on such Reduction Dates as may be specified by Borrower or, if no such specification is made, to reduce the Reduction Amount for the most remote Reduction Date (to the extent of such reduction) and thereafter to earlier Reduction Dates (to the extent not previously applied) in the inverse order of their occurrence.

Voluntary Reduction of Commitment. (a) Borrower shall have the --------------------------------- right, at any time and from time to time, without with out penalty or charge, upon at least three (3) Banking Days' prior written notice by a Responsible Official of Borrower to the Administrative Managing Agent, voluntarily to reduce, permanently and irrevocably, in aggregate principal amounts in an integral multiple of $1,000,000 but not less than $5,000,000, or to terminate, all or a portion of the then undisbursed portion of the Commitment; provided that -------- the Commitment -------- may not be so reduced below an amount equal to the sum of --- -- (i) the aggregate principal amount outstanding under the Notes, plus ---- (iia) the Aggregate Effective Amount --- -- of all outstanding Letters of Credit plus (cb) the Swing Line Outstandings. The Administrative ---- Managing Agent shall ---- promptly notify the Banks of any reduction or termination of the Commitment under this Section. (b) . Any voluntary reduction of the Commitment under this Section shall be applied to reduce the such Reduction Amount on such Reduction Dates as may be specified by Borrower or, if no such specification is made, to reduce the Reduction Amount for the most remote Reduction Date (to the extent of such reduction) and thereafter to earlier Reduction Dates (to the extent not previously applied) in the inverse reverse order of their occurrence.