Common use of Optional Reductions and Cancellations Clause in Contracts

Optional Reductions and Cancellations. Borrower may, from time to time upon three Banking Days’ written notice to Administrative Agent (who shall promptly deliver such notice to the Lenders), permanently reduce, by an amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof, or cancel in its entirety, the Total Commitment. Notwithstanding anything in this Section 2.3.2 to the contrary, Borrower may not reduce or cancel any portion of the Total Commitment if such reduction or cancellation would cause a violation of any provision of this Agreement or the other Credit Facility Documents. Borrower shall pay to Administrative Agent any Commitment Fee then due on such cancelled amount upon any such reduction or cancellation. From the effective date of any such reduction, the Commitment Fee shall be computed on the basis of the unused Total Commitment as so reduced (but subject to the proviso to Section 2.4. 1). Once reduced or cancelled, the Total Commitment may not be increased or reinstated, except as provided in Section 2.3.3. Any reductions pursuant to this Section 2.3.2 shall be applied ratably to each Lender’s respective Commitments in accordance with Section 2.6.1.

Optional Reductions and Cancellations. Borrower may, from time to time upon three Banking Days’ ' written notice to Administrative Agent (who shall promptly deliver such notice to the Lenders), permanently reduce, by an amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof, or cancel in its entirety, the Total Commitment. Notwithstanding anything in this Section 2.3.2 2.3.3 to the contrary, Borrower may not reduce or cancel any portion of the Total Commitment if such reduction or cancellation would cause a violation of any provision of this Agreement or the other Credit Facility Documents. Borrower shall pay to Administrative Agent any Commitment Fee then due on such cancelled amount upon any such reduction or cancellation. From the effective date of any such reduction, the Commitment Fee shall be computed on the basis of the unused Total Commitment as so reduced (but subject to the proviso to Section 2.4. 1)reduced. Once reduced or cancelled, the Total Commitment may not be increased or reinstated, except as provided in Section 2.3.3. Any reductions pursuant to this Section 2.3.2 2.3.3 shall be applied ratably to each Lender’s 's respective Commitments in accordance with Section 2.6.1.