Common use of Voluntary Reduction of Commitments Clause in Contracts

Voluntary Reduction of Commitments. (i) At their option, the Borrowers may at any time terminate, or from time to time reduce, the Commitments, provided that (A) each reduction of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (B) the Borrowers shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment in accordance with Section 2.03, the Total LC Exposure would exceed the Aggregate Commitments. (ii) The Borrowers shall notify the Administrative Agent of any election to terminate or reduce the Commitments under Section 2.01(b)(i) at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrowers pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrowers may state that such notice is conditioned upon the effectiveness of other credit facilities or the closing of a securities offering, in which case such notice may be revoked by the Borrowers (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Except as expressly set forth in the Loan Documents, each reduction of Commitments shall be made ratably among the Lenders in accordance with their respective applicable Commitments.

Voluntary Reduction of Commitments. (i) At their option, the Borrowers may at any time terminate, or from time to time reduce, the Commitments, provided that (A) each reduction of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (B) the Borrowers shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.032.08, the Total LC Revolving Credit Exposure would exceed the Aggregate Commitments. (ii) The Borrowers shall notify the Administrative Agent of any election to terminate or reduce the Commitments under Section 2.01(b)(i2.06(e)(i) at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrowers pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrowers may state that such notice is conditioned upon the effectiveness of other credit facilities or the closing of a securities offering, in which case such notice may be revoked by the Borrowers (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Except as expressly set forth in the Loan Documents, each reduction of Commitments shall be made ratably among the Lenders in accordance with their respective applicable Commitments.

Voluntary Reduction of Commitments. (ia) At their option, the Borrowers The Borrower may at any time terminate, or from time to time reduce, the Commitments, ; provided that (A) each such reduction of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and 1,000,000 (B) the Borrowers shall not terminate or reduce the Commitments ifor, after giving effect to any concurrent prepayment in accordance with Section 2.03if less, the Total LC Exposure would exceed remaining amount of the Aggregate Commitments). (iib) The Borrowers Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under Section 2.01(b)(i2.20(a) at least three two Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrowers pursuant to this Section 2.20(b) shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrowers Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or the closing of a securities offeringother transactions, in which case such notice may be revoked by the Borrowers Borrower (by written notice to the Administrative Agent on or a reasonable time prior to the specified effective datetime) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Except as expressly set forth in the Loan Documents, each Each reduction of the Commitments shall be made ratably among the applicable Lenders in accordance with their respective applicable Commitments.

Voluntary Reduction of Commitments. (ia) At their optionUpon at least three (3) Business Days’ irrevocable prior written notice (or telephonic notice promptly confirmed in writing) given by the Parent Borrower to the Administrative Agent at its Notice Office (which notice shall be deemed to be given on a certain day only if given before 11:00 A.M. (New York time) on such day and the Administrative Agent shall promptly transmit such notice to each of the Lenders), the Borrowers may at any time terminateParent Borrower shall have the right, without premium or from time penalty, to time reduce, terminate or partially reduce the CommitmentsTotal Unutilized Commitment, provided that (Ax) any such reduction shall apply to permanently reduce the Total Unutilized Commitment and to proportionately reduce the Commitment of each reduction of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 Lender, and (By) the Borrowers shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment in accordance with Section 2.03, the Total LC Exposure would exceed the Aggregate Commitments. (ii) The Borrowers shall notify the Administrative Agent of any election to terminate or reduce the Commitments under Section 2.01(b)(i) at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrowers partial reduction pursuant to this Section 2.02(a) shall be irrevocable; provided that in integral multiples of at least $5,000,000. Notwithstanding the foregoing, a notice of termination or partial reduction of the Commitments Total Unutilized Commitment delivered by the Borrowers Parent Borrower may state that such notice is be conditioned upon the effectiveness of other one or more credit facilities or the closing of a securities offeringfacilities, in which case such notice may be revoked by the Borrowers Parent Borrower (by written notice to the Administrative Agent Agent) on or prior to the specified effective date) date if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Except as expressly set forth in the Loan Documents, each reduction of Commitments shall be made ratably among the Lenders in accordance with their respective applicable Commitments. (b) [Reserved].

Voluntary Reduction of Commitments. (i) At their option, the The Borrowers may at any time terminatetime, or from time to time reduce, the Delayed Draw Term Loan Commitments; provided, provided that (A) each reduction of the Delayed Draw Term Loan Commitments shall be in an amount that is an integral multiple of $1,000,000 100,000 and not less than $5,000,000 and 1,000,000 (B) the Borrowers shall not terminate or reduce the Commitments ifor, after giving effect to any concurrent prepayment in accordance with Section 2.03if less, the Total LC Exposure would exceed remaining amount of the Aggregate Delayed Draw Term Loan Commitments. (ii) ). The Borrowers Lead Borrower shall notify the Administrative Agent in writing of any election to terminate or reduce the reduction of Delayed Draw Term Loan Commitments under Section 2.01(b)(i) at least three Business Days prior to the effective date of such termination or reduction, specifying . Each such election notice shall specify the date of such reduction and provide the effective date thereofamount of such reduction. Promptly following receipt of any notice, the The Administrative Agent shall advise will promptly notify the Lenders of the contents thereofof the Lead Borrower’s reduction notice and of such Lender’s pro rata share of any reduction. Each such notice delivered by the Borrowers shall be irrevocable; provided, that any such notice of reduction pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrowers 4.03 may state that such notice it is conditioned upon the occurrence or non-occurrence of any event specified therein (including the effectiveness of other credit facilities or facilities, the closing occurrence of a securities offeringChange of Control or any similar event), in which case such notice may be revoked by the Borrowers Lead Borrower (by written notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Delayed Draw Term Loan Commitments shall be permanent. Except as expressly set forth in the Loan Documents, each reduction of Commitments shall be made ratably among the Lenders in accordance with their respective applicable Commitments.

Voluntary Reduction of Commitments. (ia) At their option, the Borrowers The Borrower may at any time terminate, or from time to time reduce, the Commitments, ; provided that (A) each such reduction of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and 1,000,000 (B) the Borrowers shall not terminate or reduce the Commitments ifor, after giving effect to any concurrent prepayment in accordance with Section 2.03if less, the Total LC Exposure would exceed remaining amount of the Aggregate Commitments). (iib) The Borrowers Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under Section 2.01(b)(i2.20(a) at least three two Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrowers pursuant to this Section 2.20(b) shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrowers Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or the closing of a securities offeringfacilities, in which case such notice may be revoked by the Borrowers Borrower (by written notice to the Administrative Agent on or a reasonable time prior to the specified effective datetime) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Except as expressly set forth in the Loan Documents, each Each reduction of the Commitments shall be made ratably among the applicable Lenders in accordance with their respective applicable Commitments.