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

Voluntary Termination or Reduction of Commitment. The Borrower may, (i) at the end of any Quarter and upon not less than five Business Days' prior notice to the Administrative Agent (which shall promptly notify each Bank thereof), terminate the Aggregate Commitment, or (ii) only on a one time basis, at the end of any Quarter and upon not less than five Business Days' prior notice to the Administrative Agent (which shall promptly notify each Bank thereof), permanently reduce the Aggregate Commitment by an aggregate minimum amount of $10,000,000 or any integral multiple of $10,000,000 in excess thereof, up to an aggregate maximum amount of $30,000,000; PROVIDED that no such termination or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Advances or Swing-Line Advances made on the effective date thereof, the then outstanding principal amount of all Advances, Swing-Line Advances and Letters of Credit issued and outstanding would exceed the amount of the Aggregate Commitment then in effect and, PROVIDED, FURTHER, that once reduced in accordance with this Section, the Aggregate Commitment may not be increased without the written approval of the Administrative Agent and each Bank. Any reduction of the Aggregate Commitment shall be applied to each Bank's Revolving Commitment in accordance with such Bank's Commitment Percentage. All accrued interest, and all accrued fees described in Section 2.11 hereof, to, but not including, the effective date of any reduction or termination of the Aggregate Commitment, shall be paid on the effective date of such reduction or termination. The Borrower shall reimburse each Bank and hold each Bank harmless from any loss or expense which such Bank may sustain or incur as a consequence of any reduction or termination of the Aggregate Commitment which is effective, with respect to a LIBO Rate Advance, on a day that is not the last day of the Interest Period for such LIBO Rate Advance, as provided in Section 3.04 below.

Voluntary Termination or Reduction of Commitment. The Borrower Representative may, (i) at the end of any Quarter and upon not less than five three Business Days' prior notice to the Administrative Agent (which shall promptly notify each Bank thereof)Agent, terminate the Aggregate Commitment, Commitment or (ii) only on a one time basis, at the end of any Quarter and upon not less than five Business Days' prior notice to the Administrative Agent (which shall promptly notify each Bank thereof), permanently reduce the Aggregate Commitment by an aggregate minimum amount of $10,000,000 1,000,000 or any integral multiple of $10,000,000 1,000,000 in excess thereof, up to an aggregate maximum amount of $30,000,000; PROVIDED that no such reduction or termination or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Advances or Swing-Line Advances Loans made on the effective date thereof, (a) the then outstanding principal amount of all Advances, Swing-Line Advances and Letters the Loans (including the Equivalent Amount of Credit issued and outstanding Offshore Currency Loans) would exceed the amount of the Aggregate Commitment then in effect andeffect, (b) the Effective Amount of all Loans and L/C Obligations together would exceed the amounts of the Commitment then in effect, or (c) the Effective Amount of all L/C Obligations then outstanding would exceed the L/C Commitment; PROVIDED, FURTHER, that once reduced in accordance with this SectionSECTION 2.6, the Aggregate Commitment may not be increased without the written approval of the Administrative Agent and each Bankincreased. Any reduction of the Aggregate Commitment shall be applied to each BankLender's Revolving Commitment in accordance with such BankLender's Commitment Percentage. If and to the extent specified by the Borrower Representative in the notice to the Agent, some or all of the reduction of the Commitment shall be applied to reduce the L/C Commitment or the Offshore Currency Commitment. All accrued interest, commitment and all accrued letter of credit fees described in Section 2.11 hereof, to, but not including, the effective date of any reduction or termination of the Aggregate Commitment, shall be paid on the effective date of such reduction or terminationtermination of any such request. The Borrower shall reimburse each Bank and hold each Bank harmless from any loss or expense which such Bank may sustain or incur as a consequence Agent will promptly notify the Lenders and, if applicable, the Issuing Banks of any reduction or termination of the Aggregate Commitment which is effective, with respect to a LIBO Rate Advance, on a day that is not by the last day of the Interest Period for such LIBO Rate Advance, as provided in Section 3.04 belowBorrower hereunder.

Voluntary Termination or Reduction of Commitment. The Borrower Company may, (i) at the end of any Quarter and upon not less than five Business Days' prior notice to the Administrative Agent Bank: (which shall promptly notify each Bank thereof)a) At any time prior to the Revolving Termination Date, terminate the Aggregate Commitment, Bank's commitment to make Revolving Loans or (ii) only on a one time basis, at the end of any Quarter and upon not less than five Business Days' prior notice to the Administrative Agent (which shall promptly notify each Bank thereof), permanently reduce the Aggregate amount of the Revolving Commitment by an aggregate a minimum amount of $10,000,000 1,000,000 or any integral whole multiple of $10,000,000 1,000,000 in excess thereof, up to an aggregate maximum amount of $30,000,000; PROVIDED that no such termination or reduction shall be permitted ifunless, after giving effect thereto and to any prepayments of the Advances or Swing-Line Advances Revolving Loans made on the effective date thereof, the aggregate of the then outstanding principal amount of all Advancesthe Revolving Loans, Swing-Line Advances and Outstanding Letters of Credit, and Letter of Credit issued and outstanding Obligations would exceed the amount of the Aggregate Revolving Commitment then in effect and, PROVIDEDprovided, FURTHERfurther, that once reduced in accordance with this Sectionsubsection, the Aggregate Revolving Commitment may not be increased without increased. If the written approval of the Administrative Agent and each Bank. Any reduction of the Aggregate Commitment shall be applied to each Bank's Revolving Commitment is terminated in accordance with such Bank's Commitment Percentage. All accrued interestits entirety, and all accrued commitment fees described in Section 2.11 hereof, relating to the Revolving Commitment to, but not including, the effective date of any reduction or such termination of the Aggregate Commitment, shall be paid payable on the effective date of such reduction termination without any premium or termination. The Borrower shall reimburse each Bank and hold each Bank harmless from penalty. (b) At any loss time prior to the Term Credit Termination Date, terminate the Bank's commitment to make Term Loans or expense which such Bank may sustain or incur as a consequence of any reduction or termination permanently reduce the amount of the Aggregate Term Commitment which is effectiveby a minimum amount of $1,000,000 or any whole multiple of $1,000,000 in excess thereof; unless, with respect after giving effect thereto and to a LIBO Rate Advanceany prepayments of Term Loans made on the effective date thereof, on a day that is not the last day aggregate outstanding principal amount of the Interest Period for Term Loans would exceed the amount of the Term Commitment then in effect and, provided, further, that once reduced in accordance with this subsection, the Term Commitment may not be increased. If the Term Commitment is terminated in its entirety, all accrued commitment fees relating to the Term Commitment to, but not including, the effective date of such LIBO Rate Advance, as provided in Section 3.04 belowtermination shall be payable on the effective date of such termination without any premium or penalty.

Voluntary Termination or Reduction of Commitment. The Borrower may, (i) at the end of any Quarter and upon not less than five Business Days' prior notice to the Administrative Agent (which shall promptly notify each Bank thereof), terminate the Aggregate Commitment, or (ii) after the Aggregate Commitment has been increased to $170,000,000 for a period of not less than six months, and only on a one time basis, at the end of any Quarter and upon not less than five Business Days' prior notice to the Administrative Agent (which shall promptly notify each Bank thereof), permanently reduce the Aggregate Commitment by an aggregate minimum amount of $10,000,000 or any integral multiple of $10,000,000 in excess thereof, up to an aggregate maximum amount of $30,000,000; PROVIDED that no such termination or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Advances or Swing-Line Advances made on the effective date thereof, the then outstanding principal amount of all Advances, Swing-Line Advances and Letters of Credit issued and outstanding would exceed the amount of the Aggregate Commitment then in effect and, PROVIDED, FURTHER, that once reduced in accordance with this Section, the Aggregate Commitment may not be increased without the written approval of the Administrative Agent and each Bank. Any reduction of the Aggregate Commitment shall be applied to each Bank's Revolving Commitment in accordance with such Bank's Commitment Percentage. All accrued interest, and all accrued fees described in Section 2.11 hereof, to, but not including, the effective date of any reduction or termination of the Aggregate Commitment, shall be paid on the effective date of such reduction or termination. The Borrower shall reimburse each Bank and hold each Bank harmless from any loss or expense which such Bank may sustain or incur as a consequence of any reduction or termination of the Aggregate Commitment which is effective, with respect to a LIBO Rate Advance, on a day that is not the last day of the Interest Period for such LIBO Rate Advance, as provided in Section 3.04 below.