Common use of Voluntary Termination or Reduction Clause in Contracts

Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any Class; provided that (i) each reduction of the Commitments of any Class pursuant to this Section shall be in an amount that is $5,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.09, the total Revolving Exposures would exceed the total Revolving Commitments. The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments of any Class under this paragraph (c) at least two Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Voluntary Termination or Reduction. The Borrower Account Parties may at any time terminate, or from time to time reduce, the Commitments of any ClassCommitments; provided that (i) each reduction of the Commitments of any Class pursuant to this Section shall be in an amount that is $5,000,000 25,000,000 or a larger multiple of $1,000,000 5,000,000 and (ii) the Borrower Account Parties shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of if the Loans in accordance with Section 2.09, the total Revolving Exposures Aggregate LC Exposure would exceed the total Revolving Commitments. The Borrower XL Group shall notify the Administrative Agent of any election to terminate or reduce the Commitments of any Class under this paragraph (cb) at least two three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower XL Group pursuant to this Section paragraph (b) shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrower XL Group may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower XL Group (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Subject to the proviso in the immediately preceding sentence, any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments.

Voluntary Termination or Reduction. The Borrower Company may at any time terminate, or from time to time reduce, the Commitments of any ClassRevolving Credit Commitments; provided that (i) each reduction of the Commitments of any Class Revolving Credit Commitment pursuant to this Section shall be in an amount that is $5,000,000 1,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower Company shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.092.13, the total Revolving Credit Exposures would exceed the total Revolving Credit Commitments. The Borrower Company shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments of any Class under this paragraph (cb) at least two one Business Days Day prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower Company pursuant to this Section shall be irrevocable; provided that a notice of such termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Credit Commitments shall be permanent.

Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any ClassRevolving Credit Commitments, in each case, without premium or penalty; provided that (i) each reduction of the Commitments of any Class Revolving Credit Commitment pursuant to this Section shall be in an amount that is $5,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.092.12, the total Revolving Credit Exposures would exceed the total Revolving Credit Commitments. The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments of any Class under this paragraph (cb) at least two one Business Days Day prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of such termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilitiesfacilities or the consummation of other transactions, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfiedsatisfied or such transaction is not consummated. Any termination or reduction of the Revolving Credit Commitments shall be permanent.

Voluntary Termination or Reduction. The Borrower Company may at any time terminate, or from time to time reduce, the Commitments of any ClassRevolving Credit Commitments; provided that (i) each reduction of the Commitments of any Class Revolving Credit Commitment pursuant to this Section shall be in an amount that is $5,000,000 1,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower Company shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.092.10, the total Revolving Credit Exposures would exceed the total Revolving Credit Commitments. The Borrower Company shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments of any Class under this paragraph (cb) at least two three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower Company pursuant to this Section shall be irrevocable; provided that a notice of such termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Credit Commitments shall be permanent.

Voluntary Termination or Reduction. The Borrower Borrowers may at any time terminate, or from time to time reduce, the Commitments of any ClassRevolving Credit Commitments, in each case, without premium or penalty; provided that (i) each reduction of the Commitments of any Class Revolving Credit Commitment pursuant to this Section shall be in an amount that is $5,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower Borrowers shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.092.12, the total Revolving Credit Exposures would exceed the total Revolving Credit Commitments. The Borrower Company shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments of any Class under this paragraph (cb) at least two one Business Days Day prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower Company pursuant to this Section shall be irrevocable; provided that a notice of such termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilitiesfacilities or the consummation of other transactions, in which case such notice may be revoked by the Borrower Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfiedsatisfied or such transaction is not consummated. Any termination or reduction of the Revolving Credit Commitments shall be permanent.

Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any ClassRevolving Credit Commitments; provided that (i) each reduction of the Commitments of any Class Revolving Credit Commitment pursuant to this Section shall be in an amount that is $5,000,000 1,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.092.10, the total Revolving Credit Exposures would exceed the total Revolving Credit Commitments. The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments of any Class under this paragraph (cb) at least two three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of such termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Credit Commitments shall be permanent.

Voluntary Termination or Reduction. The Borrower AXIS Capital may at any time time, without premium or penalty, terminate, or from time to time reduce, the Commitments of any ClassCommitments; provided that (i) each reduction of the Commitments of any Class pursuant to this Section shall be in an amount that is $5,000,000 10,000,000 or a larger multiple of $1,000,000 and 5,000,000, (ii) the Borrower AXIS Capital shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.092.11, the total Revolving Credit Exposures would exceed the total Commitments and (iii) each reduction of the Commitments shall result in a proportionate reduction in the Revolving CommitmentsCredit Sublimit. The Borrower AXIS Capital shall notify the Administrative Agent of any election to terminate or reduce the Commitments of any Class under this paragraph (cb) of this Section at least two three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower AXIS Capital pursuant to this Section paragraph shall be irrevocable; provided that a notice of . Any termination or reduction of the Revolving Commitments delivered by shall be permanent. Each reduction of the Borrower may state that such notice is conditioned upon Commitments shall be made ratably among the effectiveness of other credit facilities, Lenders in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfiedaccordance with their respective Commitments.

Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any ClassCommitments; provided that (i) each reduction of the Commitments of any Class pursuant to this Section shall be in an amount that is $5,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Syndicated Loans in accordance with Section 2.092.11, the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total Revolving aggregate amount of the Commitments. The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments of any Class under this paragraph (c) at least two three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any ClassDelayed Draw Term Commitments, in each case, without premium or penalty; provided that (i) each reduction of the Commitments of any Class Delayed Draw Term Commitment pursuant to this Section 2.10 shall be in an amount that is $5,000,000 1,000,000 or a larger multiple of $1,000,000 and 500,000 (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.09if less, the total Revolving Exposures would exceed the total Revolving remaining amount of such Delayed Draw Term Commitments). The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Delayed Draw Term Commitments of any Class under this paragraph (cb) at least two three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.10 shall be irrevocable; provided that a notice of such termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilitiesfacilities or the consummation of other transactions, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfiedsatisfied or such transaction is not consummated. Any termination or reduction of the Delayed Draw Term Commitments shall be permanent.

Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any Class; Aggregate Commitment, provided that (i) each reduction of the Commitments of any Class Aggregate Commitment pursuant to this Section shall be in an amount that is $5,000,000 500,000 or a larger multiple of $1,000,000 100,000 and (ii) the Borrower shall not terminate or reduce the Revolving Commitments Aggregate Commitment if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.092.11, the total Aggregate Revolving Exposures Credit Exposure would exceed the total Revolving CommitmentsAggregate Commitment. The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments of any Class Aggregate Commitment under this paragraph (cb) at least two three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of such termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Aggregate Commitment shall be permanent. Each reduction of the Aggregate Commitment shall be made ratably among the Lenders in accordance with their respective Commitments.

Voluntary Termination or Reduction. The Borrower Company may at any time terminate, or from time to time reduce, the Commitments of any ClassRevolving Credit Commitments; provided that (i) each reduction of the Commitments of any Class Revolving Credit Commitment pursuant to this Section shall be in an amount that is $5,000,000 1,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower Company shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.092.10, the total Revolving Credit Exposures would exceed the total Revolving Credit Commitments. The Borrower Company shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments of any Class under this paragraph (cb) at least two one Business Days Day prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower Company pursuant to this Section shall be irrevocable; provided that a notice of such termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Credit Commitments shall be permanent.

Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any Class; provided that (i) each reduction of the Commitments of any Class pursuant to this Section shall be in an amount that is $5,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.0938, the total Revolving Exposures would exceed the total Revolving Commitments. The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments of any Class under this paragraph (c) at least two Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any ClassRevolving Credit Commitments; provided that (i) each reduction of the Commitments of any Class Revolving Credit Commitment pursuant to this Section shall be in an amount that is $5,000,000 1,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.092.10, the total Revolving Credit Exposures would exceed the total Revolving Credit Commitments. The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments of any Class under this paragraph (cb) at least two three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of such termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilitiesanother transaction, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Credit Commitments shall be permanent.

Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any ClassCommitments; provided that (i) each reduction of the Commitments of any Class pursuant to this Section shall be in an amount that is $5,000,000 2,000,000 or a larger multiple of $1,000,000 in excess thereof and (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Syndicated Loans in accordance with Section 2.09, the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total Revolving Commitments. The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments of any Class under this paragraph (c) at least two one Business Days Day prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section paragraph shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments.

Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any ClassRevolving Credit Commitments; provided that (i) each reduction of the Commitments of any Class Revolving Credit Commitment pursuant to this Section shall be in an amount that is $5,000,000 1,000,000 or a larger multiple of $1,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.092.10, the total Revolving Credit Exposures would exceed the total Revolving Credit Commitments. The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Credit Commitments of any Class under this paragraph (cb) at least two three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of such termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.effective