Common use of Voluntary Reduction or Termination of Tranche A-1 Revolver Commitments Clause in Contracts

Voluntary Reduction or Termination of Tranche A-1 Revolver Commitments. (a) The Tranche A-1 Revolver Commitments shall terminate on the Termination Date, unless sooner terminated in accordance with this Loan Agreement. Upon at least five (5) Business Days prior written notice to Agent, Borrowers may, at their option, terminate the Tranche A-1 Revolver Commitments so long as the Borrower Agent has (i) certified in writing (pursuant to a certificate signed on its behalf by a Senior Officer) that there are no Tranche A Revolver Loans or LC Obligations outstanding as of the date of such termination, (ii) certified in writing that Tranche A Excess Availability as of the date of such termination is greater than or equal to twenty-five percent (25%) of the Tranche A Borrowing Base as of the date of such termination, (iii) certified in writing that no Default or Event of Default exists or would result from such termination and (iv) has provided Agent with a Borrowing Base Certificate, in form and substance reasonably satisfactory to Agent, demonstrating that average Tranche A Excess Availability for the twelve-month period following such termination, calculated on a pro forma basis after giving effect to such termination and determined as of the last day of each fiscal month during such twelve-month period, will be greater than or equal to twenty-five percent (25%) of the Tranche A Borrowing Base as of the last day of each fiscal month during such twelve-month period. Any notice of termination given by Borrowers shall be irrevocable unless such notice is conditioned upon the effectiveness of other financing arrangements in which case such notice may be revoked if such condition is not satisfied. On the termination date specified in such notice of termination, Borrowers shall make payment in full, in cash of Tranche A-1 Revolver Loans and all interest thereon and all Obligations due and owing to the Agent or any Tranche A-1 Lender, in its capacity as a Tranche A-1 Lender.

Voluntary Reduction or Termination of Tranche A-1 Revolver Commitments. (a) The Tranche A-1 Revolver Commitments shall terminate on the Termination Date, unless sooner terminated in accordance with this Loan Agreement. Upon at least five (5) 5 Business Days prior written notice to Agent, Borrowers may, at their option, terminate the Tranche A-1 Revolver Commitments so long as the Borrower Agent has (i) certified in writing (pursuant to a certificate signed on its behalf by a Senior Officer) that there are no Tranche A Revolver Loans or LC Obligations outstanding as of the date of such notice or the date of such termination, (ii) certified in writing that Tranche A Excess Availability as of the date of such termination is greater than or equal to twenty-five percent (25%) of the Tranche A Borrowing Base as of the date of such terminationBase, (iii) certified in writing that no Default or Event of Default exists or would result from such termination and (iv) has provided Agent with a Borrowing Base Certificate, in form and substance reasonably satisfactory to Agent, demonstrating that average Tranche A Excess Availability for the twelve-month period following such termination, calculated on a pro forma basis after giving effect to such termination and determined as of the last day of each fiscal month during such twelve-month periodtermination, will be greater than or equal to twenty-five percent (25%) of the Tranche A Borrowing Base as of the last day of each fiscal month during such twelve-month periodBase. Any notice of termination given by Borrowers shall be irrevocable unless such notice is conditioned upon the effectiveness of other financing arrangements in which case such notice may be revoked if such condition is not satisfied. On the termination date specified in such notice of termination, Borrowers shall make payment in full, in cash of Tranche A-1 Revolver Loans and all interest thereon and all Obligations due and owing to the Agent or any Tranche A-1 Lender, in its capacity as a Tranche A-1 Lender.

Voluntary Reduction or Termination of Tranche A-1 Revolver Commitments. (a) The Tranche A-1 Revolver Commitments shall terminate on the Termination Date, unless sooner terminated in accordance with this Loan Agreement. Upon at least five (5) Business Days 45 days prior written notice to Agent, Borrowers may, at their option, terminate the Tranche A-1 Revolver Commitments so long as the Borrower Agent has (i) certified in writing (pursuant to a certificate signed on its behalf by a Senior Officer) that there are no Tranche A Revolver Loans or LC Obligations outstanding as of the date of such notice or the date of such termination, (ii) certified in writing that Tranche A Excess Availability as of the date of such termination is greater than or equal to twenty-five percent (25%) of the Tranche A Borrowing Base as of the date of such terminationBase, (iii) certified in writing that no Default or Event of Default exists or would result from such termination and (iv) has provided Agent with a Borrowing Base Certificate, in form and substance reasonably satisfactory to Agent, demonstrating that average Tranche A Excess Availability for the twelve-month period following such termination, calculated on a pro forma basis after giving effect to such termination and determined as of the last day of each fiscal month during such twelve-month periodtermination, will be greater than or equal to twenty-five percent (25%) of the Tranche A Borrowing Base as of the last day of each fiscal month during such twelve-month periodBase. Any notice of termination given by Borrowers shall be irrevocable unless such notice is conditioned upon the effectiveness of other financing arrangements in which case such notice may be revoked if such condition is not satisfiedirrevocable. On the termination date specified in such notice of termination, Borrowers shall make payment in full, in cash of Tranche A-1 Revolver Loans and all interest thereon and all Obligations due and owing to the Agent or any Tranche A-1 Lender, in its capacity as a Tranche A-1 Lender.