Common use of Voluntary Termination or Reduction of Commitment Clause in Contracts

Voluntary Termination or Reduction of Commitment. Borrower may, upon not less than five (5) Business Days’ prior notice to Lender, terminate the Commitment or permanently reduce the Commitment by a minimum amount of Five Million Dollars ($5,000,000); provided that no such termination or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Loan made on the effective date thereof, the outstanding amount of the Loan would exceed the amount of the Commitment and, provided further, that once reduced in accordance with this section, the Commitment may not be increased. If the Commitment is terminated in its entirety, all accrued commitment fees to but not including the effective date of such termination.

Voluntary Termination or Reduction of Commitment. The Borrower may, upon not less than five (5) Business Days’ ' prior notice to Lenderthe Bank, terminate the Commitment Commitment, or permanently reduce the Commitment by a minimum amount of Five Million Dollars ($5,000,000)1,000,000 or any multiple of $1,000,000 in excess thereof; provided that no such termination or reduction shall be permitted ifunless, after giving effect thereto and to any prepayments of the Loan Loans made on the effective date thereof, the then-outstanding principal amount of the Loan Loans would exceed the amount of the Commitment and, provided further, that once then in effect. Once reduced in accordance with this sectionSection, the Commitment may not be increased. If the Commitment is terminated in its entirety, all All accrued commitment fees to to, but not including the effective date of any reduction or termination of the Commitment, shall be paid on the effective date of such reduction or termination.