Common use of Voluntary Reduction Clause in Contracts

Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, 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 $5,000,000 or any whole multiple of $5,000,000 in excess thereof. Any reduction of the Commitment shall be applied to the Commitment of each Lender according to its Commitment Percentage. All commitment fees accrued until the effective date of any termination of the Commitment shall be paid on the effective date of such termination.

Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, 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 $5,000,000 or any whole multiple of $5,000,000 in excess thereof. Any reduction of the Commitment shall be applied to the Commitment of each Lender according to its Commitment Percentage. All commitment fees accrued until the effective date of any termination permanent reduction of the Commitment shall be paid on the effective date of such terminationpermanent reduction.

Voluntary Reduction. The Borrower Borrowers shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Aggregate Commitment at any time or (ii) portions of the Aggregate Commitment, from time to time, in an aggregate principal amount not less than $5,000,000 or any whole multiple of $5,000,000 1,000,000 in excess thereof. Any reduction of the Aggregate Commitment shall be applied to the Commitment of each Lender according to its Commitment Percentage. All commitment fees accrued until the effective date of any termination of the Aggregate Commitment shall be paid on the effective date of such termination.

Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, 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 $5,000,000 10,000,000 or any whole multiple of $5,000,000 in excess thereof. Any reduction of the Commitment shall be applied to the Commitment of each Lender according to its Commitment Percentage. All commitment fees accrued until the effective date of any termination of the Commitment shall be paid on the effective date of such termination.

Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least five three (53) Business Days prior written notice to the Administrative Agent, 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 of not less than $5,000,000 or any whole multiple of $5,000,000 1,000,000 in excess thereof. Any reduction of the Commitment Commitments shall be applied to the Commitment of each Lender according to its Commitment Percentageratably. All commitment fees Commitment Fees accrued until the effective date of with respect to any termination portion of the Commitment Commitments terminated pursuant hereto shall be paid on the effective date of such termination.

Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, 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 $5,000,000 2,000,000 or any whole multiple of $5,000,000 500,000 in excess thereof. Any reduction of the Commitment Commitments shall be applied to the Commitment of each Revolving Credit Lender according to its Commitment Percentage. All commitment fees accrued until the effective date of any termination of the Commitment Commitments shall be paid on the effective date of such termination.

Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Aggregate Commitment at any time or (ii) portions of the Aggregate Commitment, from time to time, in an aggregate principal amount not less than $5,000,000 3,000,000 or any whole multiple of $5,000,000 1,000,000 in excess thereof. Any Such reduction of shall permanently reduce the Lenders’ Commitments pro rata in accordance with their respective Commitment shall be applied to the Commitment of each Lender according to its Commitment PercentagePercentages. All commitment fees accrued until the effective date of any termination of the Aggregate Commitment shall be paid on the effective date of such termination.

Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least five three (53) Business Days prior written notice to the Administrative Agent, to permanently reduceto, without premium or penalty, permanently (i) terminate the entire Commitment Commitments at any time or (ii) reduce portions of the CommitmentCommitments, from time to time, in an aggregate principal amount not less than $5,000,000 or any whole multiple of $5,000,000 1,000,000 in excess thereof. Any reduction of the Commitment Commitments shall be applied to the Commitment of each Lender according to its Commitment Percentage. All commitment fees accrued until the effective date of any termination of the Commitment Commitments shall be paid on the effective date of such termination.

Voluntary Reduction. The 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 the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Commitment Commitments at any time or (ii) portions of the CommitmentCommitments, from time to time, in an aggregate principal amount not less than $5,000,000 1,000,000 or any whole multiple of $5,000,000 1,000,000 in excess thereof. Any reduction of the Commitment Commitments shall be applied to the Commitment of each Lender according to its Commitment Percentage. All commitment fees Commitment Fees accrued until the effective date of any termination of the Commitment Commitments shall be paid on the effective date of such termination.

Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Commitment Commitments at any time or (ii) portions of the CommitmentCommitments, from time to time, in an aggregate principal amount not less than $5,000,000 100,000,000 or any whole multiple of $5,000,000 25,000,000 in excess thereof. Any reduction of the Commitment Commitments shall be applied to the Commitment Commitments of each Lender according to its Commitment Percentage. All commitment fees accrued until the effective date of any termination of the Commitment Commitments shall be paid on the effective date of such termination.