Common use of Voluntary Reduction of Commitments Clause in Contracts

Voluntary Reduction of Commitments. Upon at least three Business Days' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Banks), Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Total Unutilized Commitment; provided, however, that (a) any such termination shall apply to proportionately and permanently reduce the Commitment of each Bank, (b) no such reduction shall reduce any Non-Defaulting Bank's Commitment to an amount that is less than the sum of (i) the outstanding Loans of such Bank plus (ii) such Bank's Adjusted Percentage of Letter of Credit Outstandings and (c) any partial reduction pursuant to this Section 3.02 shall be in the amount of at least $500,000 and in integral multiples of $100,000 in excess thereof.

Voluntary Reduction of Commitments. Upon at least three two Business Days' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the BanksLenders), the Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Total Unutilized Commitment; provided, however, provided that (aw) any such termination shall apply to proportionately and permanently reduce the Commitment of each BankLender, (bx) no such reduction shall reduce any Non-Defaulting BankLender's Commitment to an amount that is less than the sum of (iA) the outstanding Loans of such Bank Lender plus (iiB) such BankLender's Adjusted Percentage of Letter of Credit Outstandings and (cy) any partial reduction pursuant to this Section 3.02 shall be in the amount of at least $500,000 and in integral multiples of $100,000 in excess thereof100,000.

Voluntary Reduction of Commitments. Upon at least three Business Days' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Banks), the Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Total Unutilized Revolving Commitment; provided, however, provided that (ax) any such termination shall apply to proportionately and permanently reduce the Revolving Commitment of each Bank, (by) no such reduction shall reduce any Non-Defaulting Bank's Revolving Commitment to an amount that is less than the sum of (iA) the outstanding Revolving Loans of such Bank plus (iiB) such Bank's Adjusted RC Percentage of (i) outstanding Swingline Loans and (ii) Letter of Credit Outstandings and (cz) any partial reduction pursuant to this Section 3.02 shall be in the amount of at least $500,000 and in integral multiples of $100,000 in excess thereof1,000,000.

Voluntary Reduction of Commitments. Upon at least three Business Days' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Banks), the Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Total Unutilized Commitment; provided, however, provided that (aw) any such termination shall apply to proportionately and permanently reduce the Commitment of each 0000DSZS.W51 Bank, (bx) no such reduction shall reduce any Non-Defaulting Bank's Commitment to an amount that is less than the sum of (iA) the outstanding Loans of such Bank plus (iiB) such Bank's Adjusted Percentage of Letter of Credit Outstandings and (cy) any partial reduction pursuant to this Section 3.02 shall be in the amount of at least $500,000 and in or integral multiples of $100,000 in excess thereof.

Voluntary Reduction of Commitments. Upon at least three Business Days' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Banks), the Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Total Unutilized Commitment; provided, however, provided that (aw) any such termination shall apply to proportionately and permanently reduce the Commitment of each Bank, (bx) no such reduction shall reduce any Non-Defaulting Bank's Commitment to an amount that is less than the sum of (iA) the outstanding Loans of such Bank plus (iiB) such Bank's Adjusted Percentage of Letter of Credit Outstandings and (cy) any partial reduction pursuant to this Section 3.02 shall be in the amount of at least $500,000 and in or integral multiples of $100,000 in excess thereof.

Voluntary Reduction of Commitments. Upon at least three Business Days' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Banks), Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Total Unutilized Commitment; providedPROVIDED, howeverHOWEVER, that (aw) any such termination shall apply to proportionately and permanently reduce the Commitment of each Bank, (bx) no such reduction shall reduce any Non-Non- Defaulting Bank's Commitment to an amount that is less than the sum of (iA) the outstanding Loans of such Bank plus (iiB) such Bank's Adjusted Percentage of Letter of Credit Outstandings and (cy) any partial reduction pursuant to this Section 3.02 shall be in the amount of at least $500,000 and in integral multiples of $100,000 in excess thereof.

Voluntary Reduction of Commitments. Upon at least three Business Days' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Banks), the Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Unutilized Total Unutilized Revolving Commitment; provided, however, provided that (ax) any such termination shall apply to proportionately and permanently reduce the Revolving Commitment of each Bank, (by) no such reduction shall reduce any Non-Defaulting Bank's Revolving Commitment to an amount that is less than the sum of (iA) the outstanding Revolving Loans of such Bank plus and (iiB) such Bank's Adjusted Percentage of outstanding Swingline Loans and of Letter of Credit Outstandings and (cz) any partial reduction pursuant to this Section 3.02 shall be in the amount of at least $500,000 and in integral multiples of $100,000 in excess thereof1,000,000.

Voluntary Reduction of Commitments. Upon at least three (3) Business Days' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the affected Banks), Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Total Unutilized Commitment; provided, however, provided that (ai) any such termination shall apply to proportionately and permanently reduce the respective Commitment of each Bank, (bii) no such reduction shall reduce any Non-Defaulting Bank's Commitment to an amount that is less than the sum of (ix) the outstanding Loans of such Bank Bank, plus (iiy) such Bank's Adjusted Percentage of Letter of Credit Outstandings Outstandings, and (ciii) any partial reduction pursuant to this Section 3.02 shall be in the amount of at least $500,000 and in integral multiples of $100,000 in excess thereof5,000,000.

Voluntary Reduction of Commitments. Upon at least three Business Days' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Banks), Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Total Unutilized Commitment; providedPROVIDED, howeverHOWEVER, that (aw) any such termination shall apply to proportionately and permanently reduce the Commitment of each Bank, (bx) no such reduction shall reduce any Non-Defaulting Bank's Commitment to an amount that is less than the sum of (iA) the outstanding Loans of such Bank plus (iiB) such Bank's Adjusted Percentage of Letter of Credit Outstandings and (cy) any partial reduction pursuant to this Section 3.02 shall be in the amount of at least $500,000 and in integral multiples of $100,000 in excess thereof.