Common use of Voluntary Reductions of the Commitment Clause in Contracts

Voluntary Reductions of the Commitment. The Borrower may terminate or reduce the amount of the Revolving Commitments at any time and from time to time without penalty or premium upon not less than five (5) Business Days prior notice to the Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than $5,000,000 and integral multiples of $5,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Agent (“Prepayment Notice”); provided, however, the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Notice the Agent shall notify each Lender by telecopy, or other similar form of transmission, of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced pursuant to this Section, may not be increased. The Borrower shall pay all interest and fees, on the Loans accrued to the date of such reduction or termination of the Revolving Commitments to the Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment.

Voluntary Reductions of the Commitment. The Borrower may terminate or reduce the amount of the Revolving Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate amount of all Letter of Credit Liabilities and the aggregate principal amount of all outstanding Bid Rate Loans and Swingline Loans) at any time and from time to time without penalty or premium upon not less than five (5) Business Days prior notice to the Administrative Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than $5,000,000 and integral multiples of $5,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Administrative Agent (“Prepayment Reduction Notice”); provided, however, the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Reduction Notice the Administrative Agent shall notify each Lender by telecopy, or other similar form of transmission, transmission of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced pursuant to this Section, may not be increasedincreased except under Section 2.17. The Borrower shall pay all interest and fees, on the Loans accrued to the date of such reduction or termination of the Revolving Commitments to the Administrative Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.44.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment.

Voluntary Reductions of the Commitment. The Borrower may terminate or reduce the amount of the Revolving Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate principal amount of all outstanding Bid Rate Loans and Swingline Loans) at any time and from time to time without penalty or premium upon not less than five (5) Business Days prior notice to the Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than $5,000,000 10,000,000 and integral multiples of $5,000,000 1,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Agent (“Prepayment Notice”); provided, however, the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Notice the Agent shall notify each Lender by telecopy, or other similar form of transmission, transmission of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced pursuant to this Section, may not be increased. The Borrower shall pay all interest and fees, on the Loans accrued to the date of such reduction or termination of the Revolving Commitments to the Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment.

Voluntary Reductions of the Commitment. The Borrower may shall have the right to terminate or reduce the aggregate unused amount of the Revolving Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate amount of all Letter of Credit Liabilities and the aggregate principal amount of all outstanding Swingline Loans) at any time and from time to time without penalty or premium upon not less than five (5) 5 Business Days prior written notice to the Administrative Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than $5,000,000 and integral multiples of $5,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Administrative Agent (“Prepayment Commitment Reduction Notice”); provided, however, the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 250,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Commitment Reduction Notice the Administrative Agent shall notify each Lender by telecopy, or other similar form of transmission, of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced or terminated pursuant to this Section, may not be increasedincreased or reinstated. The Borrower shall pay all interest and fees, fees on the Revolving Loans accrued to the date of such reduction or termination of the Revolving Commitments to the Administrative Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment4.4.

Voluntary Reductions of the Commitment. The Borrower may terminate or reduce the unused amount of the Revolving Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate amount of Letter of Credit Liabilities and Swingline Loans) at any time and from time to time without penalty or premium upon not less than five (5) 5 Business Days prior notice to the Agent of each such termination reduction or reductiontermination, which notice shall specify the effective date thereof and and, in the case of a reduction, the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than $5,000,000 and integral multiples of $5,000,000 1,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Agent (“Prepayment Notice”)Agent; provided, provided however, the in no event may Borrower may not reduce the Commitments to an aggregate amount of the Revolving Commitments below less than $50,000,000 100,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Notice any such notice the Agent shall notify each Lender by telecopy, or other similar form of transmission, of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced or terminated pursuant to this Section, may not be increasedincreased or reinstated. The Borrower shall pay all interest and fees, on the Loans Advances accrued to the date of such reduction or termination of the Revolving exhibit10175a.htm Commitments to the Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.44.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment.

Voluntary Reductions of the Commitment. The Borrower may shall have the right to terminate or reduce the aggregate unused amount of the Revolving Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate amount of all Letter of Credit Liabilities and the aggregate principal amount of all outstanding Swingline Loans) at any time and from time to time without penalty or premium upon not less than five (5) 5 Business Days prior written notice to the Administrative Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than $5,000,000 10,000,000 and integral multiples of $5,000,000 1,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Administrative Agent (“Prepayment Commitment Reduction Notice”); provided, however, the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 30,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Commitment Reduction Notice the Administrative Agent shall notify each Lender by telecopy, or other similar form of transmission, of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced or terminated pursuant to this Section, may not be increasedincreased or reinstated. The Borrower shall pay all interest and fees, fees on the Revolving Loans accrued to the date of such reduction or termination of the Revolving Commitments to the Administrative Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment.

Voluntary Reductions of the Commitment. The Borrower may shall have the right to terminate or reduce the aggregate unused amount of the Revolving Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate amount of all Letter of Credit Liabilities and the aggregate principal amount of all outstanding Swingline Loans) at any time and from time to time without penalty or premium upon not less than five three (53) Business Days prior written notice to the Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than $5,000,000 and integral multiples of $5,000,000 1,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Agent (“Prepayment Commitment Reduction Notice”); provided, however, that the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 20,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Notice Commitment Reduction Notice, the Agent shall notify each Lender by telecopy, or other similar form of transmission, of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced or terminated pursuant to this Section, may not be increasedincreased or reinstated. The Borrower shall pay all interest and fees, fees on the Revolving Loans accrued to the date of such reduction or termination of the Revolving Commitments to the Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment4.4.

Voluntary Reductions of the Commitment. The Borrower may terminate or reduce the amount of the Revolving Commitments at any time and from time to time without penalty or premium upon not less than five three (53) Business Days prior notice to the Administrative Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than that $5,000,000 10,000,000 and integral multiples of $5,000,000 1,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given (other than in connection with a proposed refinancing and termination of the Commitments in their entirety that does not close) and effective only upon receipt by the Administrative Agent (“Prepayment Commitment Reduction Notice”); provided, however, the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 100,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Commitment Reduction Notice the Administrative Agent shall notify each Lender by telecopy, or other similar form of transmission, of the proposed termination or Revolving Commitment reduction. The Revolving Without limitation of the provisions of Section 2.16., the Commitments, once reduced pursuant to this Section, may not be increased. The In the case of a termination of the Commitments, the Borrower shall pay all interest and fees, on the Loans and all fees, if any, accrued to the date of such reduction or termination of the Revolving Commitments to the Administrative Agent for the account of the Lenders. In the case of any reduction or termination of the Commitments resulting in a repayment of the Loans pursuant to Section 2.6. or Section 2.7.(b) (as applicable), including but not limited to the Borrower shall also pay any applicable compensation due to each Lender in accordance with Section 5.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment.

Voluntary Reductions of the Commitment. The Borrower may terminate or reduce the amount of the Revolving Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate amount of all Letter of Credit Liabilities and the aggregate principal amount of all outstanding Swingline Loans) at any time and from time to time without penalty or premium upon not less than five (5) Business Days prior notice to the Administrative Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than $5,000,000 and integral multiples of $5,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Administrative Agent (“Prepayment Reduction Notice”); provided, however, the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 12,500,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Reduction Notice the Administrative Agent shall notify each Lender by telecopy, or other similar form of transmission, transmission of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced pursuant to this Section, may not be increasedincreased except under Section 2.17. The Borrower shall pay all interest and fees, on the Loans accrued to the date of such reduction or termination of the Revolving Commitments to the Administrative Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.44.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment.

Voluntary Reductions of the Commitment. The Borrower may shall have the right to terminate or reduce the aggregate unused amount of the Revolving Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate amount of all Letter of Credit Liabilities and the aggregate principal amount of all outstanding Swingline Loans) at any time and from time to time without penalty or premium upon not less than five (5) 5 Business Days prior written notice to the Administrative Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than that $5,000,000 10,000,000 and integral multiples of $5,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Administrative Agent (“Prepayment Commitment Reduction Notice”); provided, however, the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 100,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Commitment Reduction Notice the Administrative Agent shall notify each Lender by telecopy, or other similar form of transmission, of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced or terminated pursuant to this Section, may not be increasedincreased or reinstated. The Borrower shall pay all interest and fees, fees on the Revolving Loans accrued to the date of such reduction or termination of the Revolving Commitments to the Administrative Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment.

Voluntary Reductions of the Commitment. The Borrower may shall have the right to terminate or reduce the aggregate unused amount of the Revolving Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate amount of all Letter of Credit Liabilities) at any time and from time to time without penalty or premium upon not less than five (5) 5 Business Days prior written notice to the Administrative Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than that $5,000,000 10,000,000 and integral multiples of $5,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Administrative Agent (“Prepayment Commitment Reduction Notice”); provided, however, the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 100,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Commitment Reduction Notice the Administrative Agent shall notify each Lender by telecopy, or other similar form of transmission, of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced or terminated pursuant to this Section, may not be increasedincreased or reinstated. The Borrower shall pay all interest and fees, fees on the Loans accrued to the date of such reduction or termination of the Revolving Commitments to the Administrative Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment.

Voluntary Reductions of the Commitment. The Borrower may terminate or reduce the amount of the Revolving Commitments (for which purpose use of the Commitments shall be deemed to include the aggregate principal amount of all outstanding Bid Rate Loans and Swingline Loans) at any time and from time to time without penalty or premium upon not less than five (5) Business Days prior notice to the Agent of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction (which in the case of any partial reduction of the Revolving Commitments shall not be less than $5,000,000 and integral multiples of $5,000,000 in excess of that amount in the aggregate) and shall be irrevocable once given and effective only upon receipt by the Agent (“Prepayment Notice”); provided, however, the Borrower may not reduce the aggregate amount of the Revolving Commitments below $50,000,000 unless the Borrower is terminating the Revolving Commitments in full. Promptly after receipt of a Prepayment Notice the Agent shall notify each Lender by telecopy, or other similar form of transmission, transmission of the proposed termination or Revolving Commitment reduction. The Revolving Commitments, once reduced pursuant to this Section, may not be increasedincreased except under Section 2.17. The Borrower shall pay all interest and fees, on the Loans accrued to the date of such reduction or termination of the Revolving Commitments to the Agent for the account of the Lenders, including but not limited to any applicable compensation due to each Lender in accordance with Section 5.4. of this Agreement. Any reduction in the aggregate amount of the Revolving Commitments shall result in a proportionate reduction (rounded to the next lowest integral multiple of multiple of $100,000) in each Lender’s respective Revolving Commitment.