Common use of Optional Reduction of Commitments Clause in Contracts

Optional Reduction of Commitments. The Company shall have the right at any time or from time to time upon not less than two (2) Business Days' prior written notice to the Administrative Agent to reduce the Total Commitments of the Banks, in whole or in part, provided that each partial reduction shall be in an aggregate amount of not less than $25,000,000 and an integral multiple of $5,000,000, and shall reduce the respective Commitments of all the Banks proportionately. The Administrative Agent shall give prompt written notice to each Bank of each such reduction. Once the Company voluntarily reduces the Commitments pursuant to this Section 3.13, the Company may not thereafter increase the Commitments.

Appears in 2 contracts

Sources: Credit Agreement (Delta Air Lines Inc /De/), Credit Agreement (Delta Air Lines Inc /De/)