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

Voluntary Reduction or Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 10 Business Days prior written notice to Agent at any time after the first Loan Year, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable (unless given in connection with refinancing the Obligations). On the Commitment Termination Date, Borrowers shall make Full Payment of all Obligations. (b) Borrowers may permanently reduce the Revolver Commitments, on a Pro Rata basis for each Lender, upon at least 10 Business Days prior written notice to Agent, which notice shall specify the amount of the reduction and shall be irrevocable once given (unless given in connection with refinancing the Obligations). Each reduction shall be in a minimum amount of $10,000,000, or an increment of $1,000,000 in excess thereof; provided, that in no event shall such permanent reduction reduce the Revolver Commitments, in the aggregate, to an amount less than $20,000,000 (other than in connection with refinancing the Obligations).

Voluntary Reduction or Termination of Revolver Commitments. (a) a. The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 10 Business Days days prior written notice to Agent at any time after (but subject to the first Loan Yearpayment of the Prepayment Fee), Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable (unless given in connection with refinancing the Obligations)irrevocable. On the Commitment Termination Datetermination date, Borrowers shall make Full Payment of all Obligations, including the applicable Prepayment Fee, if any. (b) b. Borrowers may permanently reduce the Revolver Commitments, Commitments on a Pro Rata ratable basis for each Lenderall Lenders to an aggregate amount of not less than $25,000,000, upon at least 10 Business Days 30 days prior written notice to Agent, which notice shall specify the amount of the reduction and shall be irrevocable once given (unless given in connection with refinancing the Obligations)given. Each reduction shall be in a minimum amount of $10,000,0005,000,000, or an increment of $1,000,000 in excess thereof; provided. Any such reduction shall be accompanied by the payment of the applicable Prepayment Fee, that in no event shall such permanent reduction reduce the Revolver Commitments, in the aggregate, to an amount less than $20,000,000 (other than in connection with refinancing the Obligations)if any.

Voluntary Reduction or Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 10 Business Days 15 days prior written notice to Agent at any time after the first Loan Yeartime, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable (unless given in connection with irrevocable, but may be contingent upon a refinancing the Obligations)or third party transaction. On the Commitment Termination Datetermination date, Borrowers shall make Full Payment of all Obligations. (b) Borrowers may permanently reduce the Revolver Commitments, on a Pro Rata ratable basis for each Lenderall Lenders, upon at least 10 Business Days 15 days prior written notice to Agent, which notice shall specify the amount of the reduction and shall be irrevocable once given (unless given in connection with given, but may be contingent upon a refinancing the Obligations)or third party transaction. Each reduction shall be in a minimum amount of $10,000,0005,000,000, or an increment of $1,000,000 in excess thereof; provided, that in thereof and the Borrowers shall at no event shall such permanent reduction time reduce the Revolver Commitments, in the aggregate, Commitments to an amount less than $20,000,000 (other than in connection with refinancing the Obligations)25,000,000 unless all Revolver Commitments are terminated.

Voluntary Reduction or Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 10 Business Days prior written notice to Agent at At any time after the first Loan Yearand from time to time, Borrowers may, at their option, by written notice to Agent, terminate the Revolver Commitments and this credit facility. Any If Borrowers revoke any notice of termination given by Borrowers termination, they shall be irrevocable (unless given in connection with refinancing responsible for the Obligations)amounts, if any, payable pursuant to Section 3.8. On the Commitment Termination Date, Borrowers shall make Full Payment of all Obligations. (b) Borrowers may permanently reduce the Revolver Commitments, on a Pro Rata basis for each Lender, from time to time upon at least 10 Business Days prior written notice to Agent, which notice shall specify the amount of the reduction reduction, and shall be irrevocable once given (unless given in connection with refinancing at least five Business Days prior to the Obligations)date of reduction. Each reduction shall be in a minimum amount of $10,000,000, 10,000,000 or an increment of $1,000,000 in excess thereof; provided. Notwithstanding anything herein to the contrary, that in no event any such reduction of Revolver Commitments pursuant to this Section 2.1.3(b) shall such permanent reduction reduce not affect Borrowers’ ability to increase the Revolver Commitments, in the aggregate, Commitments pursuant to an amount less than $20,000,000 (other than in connection with refinancing the Obligations)Section 2.2.

Voluntary Reduction or Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 10 Business Days ninety (90) days prior written notice to Agent at any time after the first Loan Year, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable (unless given in connection with refinancing the Obligations)irrevocable. On the Commitment Termination Datetermination date, Borrowers shall make Full Payment of all Obligations. (b) Borrowers may permanently reduce the Revolver Commitments, on a Pro Rata ratable basis for each Lenderall Lenders, upon at least 10 Business Days ninety (90) days prior written notice to AgentAgent delivered at any time after the first Loan Year, which notice shall specify the amount of the reduction and shall be irrevocable once given (unless given in connection with refinancing the Obligations)given. Each reduction shall be in a minimum amount of $10,000,0005,000,000, or an increment of $1,000,000 in excess thereof; provided, however, that in no event shall such permanent reduction Borrowers may not reduce the Revolver Commitments, in Commitments below $10,000,000 unless Borrowers fully reduce the aggregate, Revolver Commitments to an amount less than $20,000,000 (other than in connection with refinancing the Obligations)0.

Voluntary Reduction or Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 10 5 Business Days prior written notice to Agent at any time after the first Loan YearAgent, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable (unless given in connection with refinancing irrevocable, but may be conditioned upon receipt of funds to repay or refinance the Obligations). On the Commitment Termination Datetermination date, Borrowers shall make Full Payment of all the Obligations. (b) Borrowers may permanently reduce the Revolver Commitments, on a Pro Rata ratable basis for each Lenderall Lenders, upon at least 10 5 Business Days prior written notice to Agent, which notice shall specify the amount of the reduction and shall be irrevocable once given (unless given in connection with refinancing given, but may be conditioned upon receipt of funds to repay or refinance the Obligations). Each reduction shall be in a minimum amount of $10,000,000, or an increment of $1,000,000 in excess thereof; provided, that in no event shall such permanent reduction reduce the Revolver Commitments, in the aggregate, to an amount less than $20,000,000 (other than in connection with refinancing the Obligations).