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

Voluntary Reduction or Termination of Commitments. (a) The U.S. Revolver Commitments shall terminate on the U.S. Revolver Commitment Termination Date and the Foreign Revolver Commitments shall terminate on the Foreign Revolver Commitment Termination Date, in each case, unless sooner terminated in accordance with this Agreement. Upon at least five Business Days prior written notice to Agent from the applicable Borrower Agent, (i) the U.S. Borrowers may, at their option, terminate the U.S. Revolver Commitments and/or (ii) the Foreign Borrowers may, at their option, terminate the Foreign Revolver Commitments. If the U.S. Borrowers elect to reduce to zero or terminate the U.S. Revolver Commitments pursuant to this Section, the Foreign Revolver Commitments shall automatically terminate concurrently with the termination of the U.S. Revolver Commitments. Any notice of termination given by a Borrower Agent shall specify the date of effectiveness of the termination and shall be irrevocable; provided that a notice of termination of the U.S. Revolver Commitments or the Foreign Revolver Commitments may state that such notice is conditioned upon the effectiveness of another credit facility or facilities as specified therein, in which case such notice may be revoked by the applicable Borrower Agent (by notice to Agent on or prior to the specified effective date) if such condition is not satisfied. On the U.S. Revolver Commitment Termination Date, the U.S. Domiciled Obligors shall make Full Payment of all U.S. Facility Obligations. On the Foreign Revolver Commitment Termination Date, the Foreign Domiciled Obligors shall make Full Payment of all Foreign Facility Obligations.

Voluntary Reduction or Termination of Commitments. (a) The U.S. Revolver Commitments shall terminate on the U.S. Revolver Commitment Termination Date and the Foreign Revolver Commitments shall terminate on the Foreign Revolver Commitment Termination Date, in each case, unless sooner terminated in accordance with this Agreement. Upon at least five Business Days prior written notice to Agent from the applicable Borrower Agent, (i) the U.S. Borrowers may, at their option, terminate the U.S. Revolver Commitments and/or (ii) the Foreign Borrowers may, at their option, terminate the Foreign Revolver Commitments. If the U.S. Borrowers elect to reduce to zero or terminate the U.S. Revolver Commitments pursuant to this Section, the Foreign Revolver Commitments shall automatically terminate concurrently with the termination of the U.S. Revolver Commitments. Any notice of termination given by a Borrower Agent shall specify the date of effectiveness of the termination and shall be irrevocable; provided that a notice of termination of the U.S. Revolver Commitments or the Foreign Revolver Commitments may state that such notice is conditioned upon the occurrence or non-occurrence of any event specified therein (including the effectiveness of another other credit facility or facilities as specified thereinfacilities), in which case such notice may be revoked or delayed by the applicable Borrower Agent (by notice to Agent on or prior to the specified effective date) if such condition is not satisfiedsatisfied or delayed. On the U.S. Revolver Commitment Termination Date, the U.S. Domiciled Obligors Borrowers shall make Full Payment of all U.S. Facility Obligations. On the Foreign Revolver Commitment Termination Date, the Foreign Domiciled Obligors Borrowers shall make Full Payment of all Foreign Facility Obligations.

Voluntary Reduction or Termination of Commitments. (a) The U.S. Revolver Commitments shall terminate on the U.S. Revolver Commitment Termination Date, the FILO Commitments shall terminate on the FILO Commitment Termination Date and the Foreign Revolver Commitments shall terminate on the Foreign Revolver Commitment Termination Date, in each case, unless sooner terminated in accordance with this Agreement. Upon at least five Business Days prior written notice to Agent from the applicable Borrower Agent, (i) the U.S. Borrowers may, at their option, terminate the U.S. Revolver Commitments or the FILO Commitments and/or (ii) the Foreign Borrowers may, at their option, terminate the Foreign Revolver Commitments. If the U.S. Borrowers elect to reduce to zero or terminate the U.S. Revolver Commitments pursuant to this Section, the Foreign Revolver Commitments shall automatically terminate concurrently with the termination of the U.S. Revolver Commitments. Any notice of termination given by a Borrower Agent shall specify the date of effectiveness of the termination and shall be irrevocable; provided that a notice of termination of the U.S. Revolver Commitments, the FILO Commitments or the Foreign Revolver Commitments may state that such notice is conditioned upon the occurrence or non-occurrence of any event specified therein (including the effectiveness of another other credit facility or facilities as specified thereinfacilities), in which case such notice may be revoked or delayed by the applicable Borrower Agent (by notice to Agent on or prior to the specified effective date) if such condition is not satisfiedsatisfied or delayed. On the U.S. Revolver Commitment Termination Date, the U.S. Domiciled Obligors Borrowers shall make Full Payment of all U.S. Facility Obligations. On the FILO Commitment Termination Date, the U.S. Borrowers shall make Full Payment of all FILO Loans. On the Foreign Revolver Commitment Termination Date, the Foreign Domiciled Obligors Borrowers shall make Full Payment of all Foreign Facility Obligations.