Common use of Voluntary Termination or Reductions Clause in Contracts

Voluntary Termination or Reductions. At the Borrower’s option and upon at least three Domestic Business Days’ prior irrevocable notice to the Administrative Agent, the Borrower may (i) terminate the Commitments at any time, or (ii) permanently reduce the Aggregate Commitment Amount in part at any time and from time to time, provided that each such partial reduction shall be in an amount equal to at least $10,000,000 or an integral multiple of $1,000,000 in excess thereof, and provided further that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or the consummation of the issuance of long term Indebtedness, equity securities or hybrid securities (such notice to specify the proposed effective date), in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to such specified effective date) if such condition is not satisfied, and the Borrower shall indemnify the Lenders in accordance with Section 3.5.

Voluntary Termination or Reductions. At the Borrower’s option in its sole and absolute discretion and upon at least three one Domestic Business Days’ Day’s prior irrevocable notice to the Administrative Agent, the Borrower may (i) terminate the Commitments at any time, or (ii) permanently reduce the Aggregate Commitment Amount Amount, in part at any time and from time to time, provided provided, that each such partial reduction shall be in an amount equal to at least $10,000,000 5,000,000 or an integral multiple of $1,000,000 in excess thereofthereof or the entire remaining amount of the Commitments, and provided further that provided, further, that, notwithstanding the foregoing, a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or the consummation of the issuance of long term Indebtedness, equity securities or hybrid securities transactions (such notice to specify the proposed effective date), in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to such specified effective date) if such condition is not satisfied, satisfied and the Borrower shall indemnify the Lenders in accordance with Section 3.53.05, if applicable.