Common use of Optional Reductions Clause in Contracts

Optional Reductions. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 9:00 a.m. five (5) Business Days prior to the date of termination or reduction and (ii) any such partial reduction shall be in an aggregate amount of £5,000,000 or any whole multiple of £1,000,000 in excess thereof. As between the Tranche A Commitments and the Tranche B Commitments, the reductions to the Aggregate Commitments shall be as directed by the Borrower; provided that if the Borrower makes no such indication, each reduction of Commitments shall be applied first to the Tranche A Commitments until the amount of Tranche A Commitments outstanding is £0, and any remaining reductions shall be applied to the Tranche B Commitments until the amount of Tranche B Commitments outstanding is £0. Within each Tranche, the reductions will be applied ratably to the Lenders’ Commitments. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. All fees accrued with respect thereto until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

Optional Reductions. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate CommitmentsRevolving Commitments to an amount not less than the Outstanding Amount of Revolving Loans, Swing Line Loans and L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 9:00 a.m. 12:00 noon five (5) Business Days prior to the date of termination or reduction and reduction, (ii) any such partial reduction shall be in an aggregate amount of £$5,000,000 or any whole multiple of £$1,000,000 in excess thereof. As between thereof and (iii) if, after giving effect to any reduction of the Tranche A Commitments and the Tranche B Aggregate Revolving Commitments, the reductions to Letter of Credit Sublimit or the Aggregate Commitments shall be as directed by the Borrower; provided that if the Borrower makes no such indication, each reduction of Commitments shall be applied first to the Tranche A Commitments until Swing Line Sublimit exceeds the amount of Tranche A Commitments outstanding is £0the Aggregate Revolving Commitments, and any remaining reductions such sublimit shall be applied to the Tranche B Commitments until automatically reduced by the amount of Tranche B Commitments outstanding is £0. Within each Tranche, the reductions will be applied ratably to the Lenders’ Commitmentssuch excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued with respect thereto until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination.

Optional Reductions. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate CommitmentsRevolving Commitments to an amount not less than the Outstanding Amount of Revolving Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 9:00 11:00 a.m. five (5) Business Days prior to the date of termination or reduction and reduction, (ii) any such partial reduction shall be in an aggregate amount of £5,000,000 $5 million or any whole multiple of £1,000,000 $1 million in excess thereof. As between thereof and (iii) if, after giving effect to any reduction of the Tranche A Commitments and the Tranche B Aggregate Revolving Commitments, the reductions to Letter of Credit Sublimit or the Aggregate Commitments shall be as directed by the Borrower; provided that if the Borrower makes no such indication, each reduction of Commitments shall be applied first to the Tranche A Commitments until Swing Line Sublimit exceeds the amount of Tranche A Commitments outstanding is £0the Aggregate Revolving Commitments, and any remaining reductions such sublimit shall be applied to the Tranche B Commitments until automatically reduced by the amount of Tranche B Commitments outstanding is £0. Within each Tranche, the reductions will be applied ratably to the Lenders’ Commitmentssuch excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitments of the Lenders ratably in accordance with their Revolving Commitment Percentages. All fees accrued with respect thereto until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination.

Optional Reductions. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate CommitmentsRevolving Commitments to an amount not less than the Outstanding Amount of Revolving Loans, Swing Line Loans and L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 9:00 a.m. 12:00 noon five (5) Business Days prior to the date of termination or reduction and reduction, (ii) any such partial reduction shall be in an aggregate amount of £5,000,000 $1,000,000 or any whole multiple of £1,000,000 $500,000 in excess thereof. As between thereof and (iii) if, after giving effect to any reduction of the Tranche A Commitments and the Tranche B Aggregate Revolving Commitments, the reductions to Letter of Credit Sublimit, the Aggregate Commitments shall be as directed by Swing Line Sublimit or the Borrower; provided that if the Borrower makes no such indication, each reduction of Commitments shall be applied first to the Tranche A Commitments until Alternate Currency Sublimit exceeds the amount of Tranche A Commitments outstanding is £0the Aggregate Revolving Commitments, and any remaining reductions such sublimit shall be applied to the Tranche B Commitments until automatically reduced by the amount of Tranche B Commitments outstanding is £0. Within each Tranche, the reductions will be applied ratably to the Lenders’ Commitmentssuch excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Pro Rata Share. All fees accrued with respect thereto until the effective date Table of Contents of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination.

Optional Reductions. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate CommitmentsRevolving Commitments to an amount not less than the Outstanding Amount of Revolving Loans and L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than 9:00 a.m. 12:00 noon five (5) Business Days prior to the date of termination or reduction and reduction, (ii) any such partial reduction shall be in an aggregate amount of £5,000,000 $1,000,000 or any whole multiple of £$1,000,000 in excess thereof. As between thereof and (iii) if, after giving effect to any reduction of the Tranche A Commitments and the Tranche B Aggregate Revolving Commitments, the reductions to the Aggregate Commitments shall be as directed by the Borrower; provided that if the Borrower makes no such indication, each reduction Letter of Commitments shall be applied first to the Tranche A Commitments until Credit Sublimit exceeds the amount of Tranche A Commitments outstanding is £0the Aggregate Revolving Commitments, and any remaining reductions such sublimit shall be applied to the Tranche B Commitments until automatically reduced by the amount of Tranche B Commitments outstanding is £0. Within each Tranche, the reductions will be applied ratably to the Lenders’ Commitmentssuch excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued with respect thereto until the effective date of any termination or reduction of the Aggregate Revolving Commitments shall be paid on the effective date of such terminationtermination or reduction .

Optional Reductions. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate CommitmentsRevolving Commitments to an amount not less than the Outstanding Amount of Revolving Loans, Swing Line Loans and L/C Obligations; provided that (i) no such reduction or termination shall be permitted during the Certain Funds Period, (ii) any such notice shall be received by the Administrative Agent not later than 9:00 a.m. five 12:00 noon three (53) Business Days prior to the date of termination or reduction and reduction, (iiiii) any such partial reduction shall be in an aggregate amount of £$5,000,000 or any whole multiple of £$1,000,000 in excess thereof. As between thereof and (iv) if, after giving effect to any reduction of the Tranche A Commitments and the Tranche B Aggregate Revolving Commitments, the reductions to Alternative Currency Sublimit, the Aggregate Commitments shall be as directed by Letter of Credit Sublimit or the Borrower; provided that if the Borrower makes no such indication, each reduction of Commitments shall be applied first to the Tranche A Commitments until Swing Line Sublimit exceeds the amount of Tranche A Commitments outstanding is £0the Aggregate Revolving Commitments, and any remaining reductions such sublimit shall be applied to the Tranche B Commitments until automatically reduced by the amount of Tranche B Commitments outstanding is £0. Within each Tranche, the reductions will be applied ratably to the Lenders’ Commitmentssuch excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued with respect thereto until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination.

Optional Reductions. The Borrower Borrowers may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate CommitmentsRevolving Commitments to an amount not less than the Outstanding Amount of Revolving Loans and L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent (i) not later than 9:00 a.m. five 12:00 noon three (53) Business Days prior to the date of termination or reduction and reduction, (ii) any such partial reduction shall be in an aggregate amount of £$5,000,000 or any whole multiple of £$1,000,000 in excess thereof. As between thereof and (iii) if, after giving effect to any reduction of the Tranche A Commitments and the Tranche B Aggregate Revolving Commitments, the reductions to Letter of Credit Sublimit or the Aggregate Commitments shall be as directed by the Borrower; provided that if the Borrower makes no such indication, each reduction Alternative Currency Letter of Commitments shall be applied first to the Tranche A Commitments until Credit Sublimit exceeds the amount of Tranche A Commitments outstanding is £0the Aggregate Revolving Commitments, and any remaining reductions such sublimit shall be applied to the Tranche B Commitments until automatically reduced by the amount of Tranche B Commitments outstanding is £0. Within each Tranche, the reductions will be applied ratably to the Lenders’ Commitmentssuch excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued with respect thereto until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination.

Optional Reductions. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate CommitmentsRevolving Commitments to an amount not less than the Outstanding Amount of Revolving Loans, Swingline Loans and L/C Obligations; provided PROVIDED that (i) any such notice shall be received by the Administrative Agent not later than 9:00 a.m. 12:00 noon five (5) Business Days prior to the date of termination or reduction and reduction, (ii) any such partial reduction shall be in an aggregate amount of £5,000,000 $10,000,000 or any whole multiple of £$1,000,000 in excess thereof. As between thereof and (iii) if, after giving effect to any reduction of the Tranche A Commitments and the Tranche B Aggregate Revolving Commitments, the reductions to Letter of Credit Sublimit or the Aggregate Commitments shall be as directed by the Borrower; provided that if the Borrower makes no such indication, each reduction of Commitments shall be applied first to the Tranche A Commitments until Swingline Sublimit exceeds the amount of Tranche A Commitments outstanding is £0the Aggregate Revolving Commitments, and any remaining reductions such sublimit shall be applied to the Tranche B Commitments until automatically reduced by the amount of Tranche B Commitments outstanding is £0. Within each Tranche, the reductions will be applied ratably to the Lenders’ Commitmentssuch excess. The Administrative Agent will promptly notify the Revolving Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Pro Rata Share. All fees accrued with respect thereto until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination.

Optional Reductions. The Borrower Company may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate CommitmentsRevolving Commitments to an amount not less than the Total Revolving Outstandings; provided that (i) any such notice shall be received by the Administrative Agent not later than 9:00 a.m. 12:00 noon five (5) Business Days prior to the date of termination or reduction and reduction, (ii) any such partial reduction shall be in an aggregate amount of £$5,000,000 or any whole multiple of £$1,000,000 in excess thereof. As between thereof and (iii) if, after giving effect to any reduction of the Tranche A Commitments and the Tranche B Aggregate Revolving Commitments, the reductions to Letter of Credit Sublimit, the Aggregate Commitments shall be as directed by Swing Line Sublimit or the Borrower; provided that if the Borrower makes no such indication, each reduction of Commitments shall be applied first to the Tranche A Commitments until UK Sublimit exceeds the amount of Tranche A Commitments outstanding is £0the Aggregate Revolving Commitments, and any remaining reductions such sublimit shall be applied to the Tranche B Commitments until automatically reduced by the amount of Tranche B Commitments outstanding is £0. Within each Tranche, the reductions will be applied ratably to the Lenders’ Commitmentssuch excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued with respect thereto until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination.