Common use of Voluntary Reductions in Revolving Loan Commitments Clause in Contracts

Voluntary Reductions in Revolving Loan Commitments. (a) The Borrowers may, at any time upon at least two (2) Business Days’ (or such shorter period as is acceptable to Agent) prior written notice by the Borrower Representative to Agent, permanently reduce (but not terminate) the Aggregate Revolving Loan Commitment; provided, that (A) such reductions shall be in an amount greater than or equal to $1,000,000 and (B) the Aggregate Revolving Loan Commitment shall not be reduced to an amount less than the sum of the aggregate outstanding principal balance of Revolving Loans of all of the Borrowers, plus Swing Loans of all of the Borrowers, plus Letter of Credit Obligations outstanding with respect to all of the Borrowers. In addition, the Borrowers may at any time on at least five (5) Business Days prior written notice by the Borrower Representative to Agent terminate the Aggregate Revolving Loan Commitment; provided, that upon such termination, all Obligations of all of the Borrowers (other than outstanding Letters of Credit that are fully cash collateralized in accordance with the terms hereof and other than any Obligations in respect of Letters of Credit, Secured Rate Contracts, Secured Bank Products and/or Secured Commodities Hedging Contracts that, in accordance with their terms or as a result of alternative arrangements made by the relevant Borrowers and the counterparties thereof, will in connection with such termination no longer be secured under the Collateral Documents) shall be immediately due and payable in full and all Letter of Credit Obligations of all of the Borrowers shall be cash collateralized or otherwise satisfied in accordance herewith; provided, further, a notice of termination of the Aggregate Revolving Loan Commitment delivered by the Borrower Representative may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case, such notice may be (subject to payment of any amount pursuant to Section 10.4) revoked by the Borrower Representative (by notice to Agent on or prior to the specified effective date) if such condition is not satisfied. Optional reductions or terminations of the Aggregate Revolving Loan Commitment shall be without penalty or premium except as provided in Section 10.4. All reductions of the Aggregate Revolving Loan Commitment shall be allocated pro rata among all Revolving Lenders. A permanent reduction of the Aggregate Revolving Loan Commitment shall require a corresponding pro rata reduction in the L/C Sublimit.

Voluntary Reductions in Revolving Loan Commitments. (a) The Borrowers may, Borrower may at any time upon and from time to time on at least two five (25) Business Days’ (or such shorter period as is acceptable to Agent) ' prior written notice by the Borrower Representative to Agent, Administrative Agent permanently reduce (but not terminate) the Aggregate Revolving Loan CommitmentCommitment without penalty or premium (except as provided in Section 1.13(b) to the extent applicable); provided, provided that (A) any such reductions shall be in an a minimum amount greater than or equal to of $1,000,000 50,000,000 and integral multiples of $25,000,000 in excess of such amount, (B) the Aggregate Revolving Loan Commitment shall not be reduced to an amount less than the sum amount of the aggregate Revolving Loan and Swing Line Loan then outstanding principal balance of Revolving Loans of all of the Borrowersand (C) after giving effect to such reductions, plus Swing Loans of all of the Borrowers, plus Letter of Credit Obligations outstanding Borrower shall comply with respect to all of the BorrowersSection 1.3(b). In addition, the Borrowers Borrower may at any time on at least five (5) Business Days Days' prior written notice by the Borrower Representative to Administrative Agent (or such shorter period as Administrative Agent may agree to) terminate the Aggregate Revolving Loan CommitmentCommitments without penalty or premium (except as provided in Section 1.13(b) to the extent applicable); provided, provided that upon such termination, termination all Obligations of all of the Borrowers (other than outstanding Letters of Credit that are fully cash collateralized in accordance with the terms hereof Loans and other than any Obligations in respect of Letters of Credit, Secured Rate Contracts, Secured Bank Products and/or Secured Commodities Hedging Contracts that, in accordance with their terms or as a result of alternative arrangements made by the relevant Borrowers and the counterparties thereof, will in connection with such termination no longer be secured under the Collateral Documents) shall be immediately due and payable in full and all Letter of Credit Obligations of all of the Borrowers shall be cash collateralized or otherwise satisfied in accordance herewith; provided, further, a notice of with Annex B hereto. Any voluntary reduction or termination of the Aggregate Revolving Loan Commitment delivered must be accompanied by payment of the Borrower Representative may state that accrued but unpaid Unused Line Fee on the amount of the Revolving Loan Commitment so reduced or terminated, as applicable, through the date of such notice is conditioned upon termination or reduction, as applicable, plus the effectiveness of other credit facilities, in which case, such notice may be (subject to payment of any amount pursuant to LIBOR funding breakage costs in accordance with Section 10.4) revoked by the Borrower Representative (by notice to Agent on or prior to the specified effective date) if 1.13(b). Upon any such condition is not satisfied. Optional reductions or terminations reduction of the Aggregate Revolving Loan Commitment Commitment, Borrower's right to request Revolving Credit Advances or Swing Line Advances, or to request that Letter of Credit Obligations be incurred on its behalf or on behalf of any other Credit Party shall simultaneously be without penalty or premium except as provided in Section 10.4. All reductions of the Aggregate Revolving Loan Commitment shall be allocated pro rata among all Revolving Lenderspermanently reduced. A permanent reduction of the Aggregate Revolving Loan Commitment shall not require a corresponding pro rata reduction in the L/C Sublimit; provided that if the Revolving Loan Commitment is reduced to an amount less than the L/C Sublimit, then the L/C Sublimit shall be reduced to an amount equal to (or, at Borrower's option, less than) the Revolving Loan Commitment. Upon any termination of the Commitments, Borrower's right to request Revolving Credit Advances or Swing Line Advances, or to request that Letter of Credit Obligations be incurred on its behalf (or on behalf of any other Credit Party) shall be simultaneously terminated. Upon any termination of the Commitments which results in a termination of any Lender's Synthetic Loan Commitment, Agent shall promptly remit to each Synthetic Loan Lender its pro rata share of the amount of such reduction from the Synthetic Loan Credit-Linked Deposit Account.

Voluntary Reductions in Revolving Loan Commitments. (a) The Borrowers may, Borrower may at any time upon on at least two (2) Business Days’ (or such shorter period as is acceptable to Agent) 10 days' prior written notice by the Borrower Representative to Agent, Agent permanently reduce (but not terminate) the Aggregate Tranche A Revolving Loan Commitment; provided, provided that (Ai) any such reductions shall be in an a minimum amount greater than or equal to of $1,000,000 50,000,000 and integral multiples of $5,000,000 in excess of such amount, (Bii) the Aggregate Tranche A Revolving Loan Commitment shall not be reduced to an amount less than $475,000,000, (iii) after giving effect to such reductions, Borrower shall comply with Section 1.3(b)(i); and (iv) such reductions shall be made pro rata among the sum of the aggregate outstanding principal balance of Tranche A Revolving Loans of all of the Borrowers, plus Swing Loans of all of the Borrowers, plus Letter of Credit Obligations outstanding with respect to all of the BorrowersLoan Commitments. In addition, the Borrowers Borrower may at any time on at least five (5) Business Days ten 10 days' prior written notice by the Borrower Representative to Agent terminate the Aggregate Revolving Loan Commitment; providedCommitments, provided that upon such termination, termination all Obligations of all of the Borrowers (other than outstanding Letters of Credit that are fully cash collateralized in accordance with the terms hereof Loans and other than any Obligations in respect of Letters of Credit, Secured Rate Contracts, Secured Bank Products and/or Secured Commodities Hedging Contracts that, in accordance with their terms or as a result of alternative arrangements made by the relevant Borrowers and the counterparties thereof, will in connection with such termination no longer be secured under the Collateral Documents) shall be immediately due and payable in full and all Letter of Credit Obligations of all of the Borrowers shall be cash collateralized or otherwise satisfied in accordance herewith; provided, further, a notice with Annex B hereto. Any voluntary reduction of the Tranche A Revolving Loan Commitment or termination of the Aggregate Revolving Loan Commitment delivered Commitments must be accompanied by payment of the Borrower Representative may state that such notice is conditioned upon Fee required by Section 1.9(c), if any, plus the effectiveness of other credit facilities, in which case, such notice may be (subject to payment of any amount pursuant to LIBOR funding breakage costs in accordance with Section 10.4) revoked by the Borrower Representative (by notice to Agent on 1.13(b). Upon any such reduction or prior to the specified effective date) if such condition is not satisfied. Optional reductions or terminations termination of the Aggregate Revolving Loan Commitment, Borrower's right to request Tranche A Revolving Credit Advances, or request that Letter of Credit Obligations be incurred on its behalf, or request Swing Line Advances, shall simultaneously be permanently reduced or terminated, as the case may be; provided that a permanent reduction of the Tranche A Revolving Loan Commitment shall be without penalty or premium except as provided in Section 10.4. All reductions of the Aggregate Revolving Loan Commitment shall be allocated pro rata among all Revolving Lenders. A permanent reduction of the Aggregate Revolving Loan Commitment shall not require a corresponding pro rata reduction in the L/C Sublimit. No voluntary reduction of all or any portion of the Tranche B Revolving Loan Commitment shall be permitted. No voluntary prepayments of all or any portion of the Term Loan shall be permitted.

Voluntary Reductions in Revolving Loan Commitments. (a) The Borrowers may, Borrower may at any time upon and from time to time on at least two five (25) Business Days’ (or such shorter period as is acceptable to Agent) ' prior written notice by the Borrower Representative to Agent, Administrative Agent permanently reduce (but not terminate) the Aggregate Revolving Loan CommitmentCommitment without penalty or premium (except as provided in Section 1.9(d) and Section 1.13(b) to the extent applicable); provided, provided that (A) any such reductions shall be in an a minimum amount greater than or equal to of $1,000,000 50,000,000 and integral multiples of $25,000,000 in excess of such amount, (B) the Aggregate Revolving Loan Commitment shall not be reduced to an amount less than the sum amount of the aggregate Revolving Loan and Swing Line Loan then outstanding principal balance of Revolving Loans of all of the Borrowersand (C) after giving effect to such reductions, plus Swing Loans of all of the Borrowers, plus Letter of Credit Obligations outstanding Borrower shall comply with respect to all of the BorrowersSection 1.3(b). In addition, the Borrowers Borrower may at any time on at least five (5) Business Days Days' prior written notice by the Borrower Representative to Administrative Agent (or such shorter period as Administrative Agent may agree to) terminate the Aggregate Revolving Loan CommitmentCommitments without penalty or premium (except as provided in Section 1.9(d) and Section 1.13(b) to the extent applicable); provided, provided that upon such termination, termination all Obligations of all of the Borrowers (other than outstanding Letters of Credit that are fully cash collateralized in accordance with the terms hereof Loans and other than any Obligations in respect of Letters of Credit, Secured Rate Contracts, Secured Bank Products and/or Secured Commodities Hedging Contracts that, in accordance with their terms or as a result of alternative arrangements made by the relevant Borrowers and the counterparties thereof, will in connection with such termination no longer be secured under the Collateral Documents) shall be immediately due and payable in full and all Letter of Credit Obligations of all of the Borrowers shall be cash collateralized or otherwise satisfied in accordance herewith; provided, further, a notice of with Annex B hereto. Any voluntary reduction or termination of the Aggregate Revolving Loan Commitment delivered must be accompanied by payment of the Borrower Representative may state that accrued but unpaid Unused Line Fee on the amount of the Revolving Loan Commitment so reduced or terminated, as applicable, through the date of such notice is conditioned upon termination or reduction, as applicable, plus the effectiveness of other credit facilities, in which case, such notice may be (subject to payment of any amount pursuant to LIBOR funding breakage costs in accordance with Section 10.41.13(b) revoked by and, if applicable, the Borrower Representative (by notice to Agent on or prior to the specified effective date) if fee payable in accordance with Section 1.9(d). Upon any such condition is not satisfied. Optional reductions or terminations reduction of the Aggregate Revolving Loan Commitment Commitment, Borrower's right to request Revolving Credit Advances or Swing Line Advances, or to request that Letter of Credit Obligations be incurred on its behalf or on behalf of any other Credit Party shall simultaneously be without penalty or premium except as provided in Section 10.4. All reductions of the Aggregate Revolving Loan Commitment shall be allocated pro rata among all Revolving Lenderspermanently reduced. A permanent reduction of the Aggregate Revolving Loan Commitment shall not require a corresponding pro rata reduction in the L/C Sublimit; provided that if the Revolving Loan Commitment is reduced to an amount less than the L/C Sublimit, then the L/C Sublimit shall be reduced to an amount equal to (or, at Borrower's option, less than) the Revolving Loan Commitment. Upon any termination of the Commitments, Borrower's right to request Revolving Credit Advances or Swing Line Advances, or to request that Letter of Credit Obligations be incurred on its behalf (or on behalf of any other Credit Party) shall be simultaneously terminated.