Voluntary Reduction of the Commitment. Upon at least three Business Days' prior irrevocable written or telecopy notice to the Administrative Agent (specifying the amount of reduction), the Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Commitment; provided, however, that (i) each partial reduction shall be in an integral multiple of $1,000,000 and in a minimum amount of $5,000,000 and (ii) the Commitment shall not be reduced to an amount that is less than the Total Exposure.
Voluntary Reduction of the Commitment. The Borrowers shall have the right to terminate or reduce the aggregate unused amount of the Revolving Facility (for which purpose use of the Revolving Facility shall be deemed to include the aggregate amount of Letter of Credit Liabilities, without duplication) at any time and from time to time without penalty or premium upon not less than 5 Business Days prior written notice to the Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction and shall be irrevocable once given and effective only upon receipt by the Agent; provided, however, (a) that Lenders shall be indemnified for any breakage and redeployment costs associated with any LIBOR Loans, (b) any reductions shall be the in minimum increments set forth in Section 3.5(c), and (c) if the Borrowers seek to reduce the aggregate amount of the Commitments below $50,000,000.00, then such Commitments shall all automatically and permanently be reduced to zero. The Agent will promptly transmit such notice to each Lender. The Commitments, once terminated or reduced may not be increased or reinstated.
Voluntary Reduction of the Commitment. The Borrower shall have the right, on three (3) Business Days' irrevocable notice to the Administrative Agent, to cancel all or a portion of the Commitment, on a pro rata basis among the Lenders, provided that (a) any such cancellation shall be made in a principal amount of not less than $5,000,000, and in an integral multiple of $1,000,000; (b) as of the effective date of such notice, the Commitment shall be permanently reduced to the amount stated in the Borrower's notice for all purposes herein; and (c) on or prior to the effective date of such notice, the Borrower shall pay to the Administrative Agent for the benefit of the Lenders the amount necessary to reduce the principal amount of the then outstanding Loans to not more than the amount of the Commitment as so reduced, together with the accrued interest on the amount so prepaid and the commitment fee set forth in Section 2.4 accrued through the date of the reduction with respect to the amount reduced, and shall reimburse the Administrative Agent and the Lenders for any loss or reasonable out-of-pocket expense incurred by any of them in connection with such payment, as set forth in Section 2.11. Each such reduction shall permanently reduce the amount of the Commitment and shall reduce the dollar amount of each subsequent scheduled quarterly Commitment reduction under Section 2.7 hereof on a weighted pro rata basis.
Voluntary Reduction of the Commitment. The Borrowers shall have the right, at any time and from time to time, without penalty or charge, upon at least five Business Days prior written notice to the Administrative Agent, voluntarily to reduce, permanently and irrevocably, in aggregate principal amounts in an integral multiple of $1,000,000, or to terminate, all or a portion of the then undisbursed portion of the Commitment, provided that any such reduction or termination shall be accompanied by payment of all accrued and unpaid commitment fees with respect to the portion of the Commitment being reduced or terminated.
Voluntary Reduction of the Commitment. Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior irrevocable written notice to Bank, to permanently reduce, without premium or penalty, (i) the entire Commitment at any time or (ii) portions of the Commitment, from time to time, in an aggregate principal amount not less than $100,000 or any whole multiple of $50,000 in excess thereof. In connection with any such reduction, without limitation of any other provision hereof or of any other Loan Document, Borrower shall immediately pay to Bank the amount by which the outstanding principal balance of the Line of Credit exceeds the Commitment, as reduced. All fees payable pursuant to Section 2.2(d) accrued until the effective date of any termination of the Commitment shall be paid on the effective date of such termination.
Voluntary Reduction of the Commitment. The Borrower may from time to time, upon notice to Administrative Agent not later than 1:00 p.m., five Business Days in advance, terminate in whole or reduce in part the Commitment, as designated by the Borrower; provided, however, that the Borrower shall pay -------- ------- the accrued interest and the applicable Commitment Fee on the amount of such reduction and all amounts due, and any partial reduction shall be in an aggregate amount which is an integral multiple of $5,000,000. No voluntary reduction in the Commitment permitted by this Section 2.11(d) shall reduce or relieve the automatic scheduled reduction of the Commitment required by Section 2.11(b) above.
Voluntary Reduction of the Commitment. The Company shall have the right, upon at least five (5) Banking Days' prior written notice to Fleet, to terminate in whole or reduce ratably in part the unused portions of the Commitment; provided that (i) each partial reduction shall be in the aggregate amount of $1,000,000 or an integral multiple of $100,000 in excess thereof and (ii) the Commitment shall not be reduced below the sum of the outstanding principal balance of the Advances and the Letter of Credit Obligations owing to Fleet. No reduction or termination of the Commitment may be reinstated.
Voluntary Reduction of the Commitment. Concurrently with the ------------------------------------- execution of this Amendment, Borrower hereby reduces the Commitment from $170,000,000 to $110,000,000 in accordance with the provisions of Section 2.5 of the Loan Agreement, and the Banks hereby waive the three Business Day notice period contemplated by that Section in connection with such reduction.
Voluntary Reduction of the Commitment. RPM shall have the right, upon at least three (3) Business Days' notice to the Agent, to terminate in whole or reduce in part the unused portion of the Commitment; provided, however, that each partial reduction shall be in the aggregate amount of EUR 1,000,000 or an integral multiple of EUR 1,000,000 in excess thereof.
Voluntary Reduction of the Commitment. Upon at least five (5) Business Days' prior written notice (or telephonic notice promptly confirmed in writing) to the Lender, which notice shall specify (1) the amount by which the Commitment is to be terminated and (2) the date such termination is to occur, the Company shall have the right, without premium or penalty, to terminate the Commitment, in whole or in part, provided that (a) any partial termination pursuant to this Section 2.07 shall be in an amount of at least $1,000,000 and integral multiples of $500,000, (b) the amount of the Commitment shall not be reduced to an amount less than $10,000,000, and (c) any such termination shall apply to permanently reduce the Commitment. If the sum of (i) the aggregate principal amount of Advances plus (ii) the Letter of Credit Obligations exceeds the amount of the Commitment as so reduced, the Company shall immediately repay Borrowings under the Commitment by an amount equal to such excess, together with accrued but unpaid interest on such excess.
