Common use of Voluntary Reduction or Termination of Commitments Clause in Contracts

Voluntary Reduction or Termination of Commitments. (i) The Borrower shall have the right, upon at least three Business Days’ prior written notice to the Administrative Agent, at any time to terminate the Commitments or from time to time to permanently reduce the Commitments, provided that (A) the Total Commitment Amount shall not be reduced below an amount equal to the sum of the aggregate principal balance of the Loans plus the Letter of Credit Exposure plus the aggregate principal amount of all Swing Loans (in each case after giving effect to any contemporaneous prepayment of the Loans) then outstanding thereunder, and (B) any such reduction of the Commitments shall be in the minimum amount of $5,000,000 or such amount plus a whole multiple of $100,000 in excess thereof. In the event that the Total Commitment Amount is reduced below the Swing Loan Commitment, the Swing Loan Commitment shall be reduced to an amount equal to the Total Commitment Amount, as reduced. Upon receipt of each such notice of termination or permanent reduction of Commitments from the Borrower, the Administrative Agent shall promptly notify each Lender of the contents thereof.

Voluntary Reduction or Termination of Commitments. (i) The Borrower shall have the right, upon at least three Business Days’ prior written notice to the Administrative Agent, at any time to terminate the Commitments or from time to time to permanently reduce the Commitments, provided that (Ai) the Total Commitment Amount shall not be reduced below an amount equal to the sum of the aggregate principal balance of the Loans plus the Letter of Credit Exposure plus the aggregate principal amount of all Swing Loans (in each case after giving effect to any contemporaneous prepayment of the Loans) then outstanding thereunder, and (Bii) any such reduction of the Commitments shall be in the minimum amount of $5,000,000 or such amount plus a whole multiple of $100,000 in excess thereof. In the event that the Total Commitment Amount is reduced below the Swing Loan Commitment, the Swing Loan Commitment shall be reduced to an amount equal to the Total Commitment Amount, as reduced. Upon receipt of each such notice of termination or permanent reduction of Commitments from the Borrower, the Administrative Agent shall promptly notify each Lender of the contents thereof.

Voluntary Reduction or Termination of Commitments. (i) The Borrower shall have the right, upon at least three Business Days’ ' prior written notice to the Administrative Agent, at any time to terminate the Commitments or from time to time to permanently reduce the Commitments, provided that (Ai) the Total Commitment Amount shall not be reduced below an amount equal to the sum of the aggregate principal balance of the Loans plus PLUS the Letter of Credit Exposure plus PLUS the aggregate principal amount of all Swing Loans (in each case after giving effect to any contemporaneous prepayment of the Loans) then outstanding thereunder, and (Bii) any such reduction of the Commitments shall be in the minimum amount of $5,000,000 or such amount plus a whole multiple of $100,000 in excess thereof. In the event that the Total Commitment Amount is reduced below the Swing Loan Commitment, the Swing Loan Commitment shall be reduced to an amount equal to the Total Commitment Amount, as reduced. Upon receipt of each such notice of termination or permanent reduction of Commitments from the Borrower, the Administrative Agent shall promptly notify each Lender of the contents thereof.