Common use of Permanent Reduction of the Revolving Credit Commitment Clause in Contracts

Permanent Reduction of the Revolving Credit Commitment. (a) The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Revolving Credit Commitment in an aggregate principal amount not less than $5,000,000 or any whole multiple of $1,000,000 in excess thereof. (b) Each permanent reduction permitted pursuant to this Section 2.5 shall be accompanied by a payment of principal sufficient to reduce the aggregate principal amount of Revolving Credit Loans and L/C Obligations after such reduction to the Revolving Credit Commitment as so reduced. Any reduction of the Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Obligations with respect to the Revolving Credit Facility (and furnishing of cash collateral satisfactory to the Administrative Agent for all L/C Obligations) and termination of the Revolving Credit Commitment and the Revolving Credit Facility. Such cash collateral shall be applied in accordance with Section 12.2(b). If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such reduction may be made only on the last day of the then current Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 5.10 hereof.

Permanent Reduction of the Revolving Credit Commitment. (a) The Borrower Borrowers shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Revolving Credit Commitment in an aggregate principal amount not less than $5,000,000 2,000,000 or any whole multiple of $1,000,000 500,000 in excess thereof. (b) Each permanent reduction permitted pursuant to this Section 2.5 shall be accompanied by a payment of principal sufficient to reduce the aggregate principal amount of Revolving Credit Loans and L/C Obligations after such reduction to the Revolving Credit Commitment as so reduced. Any reduction of the Revolving Credit Aggregate Commitment to zero shall be accompanied by payment of all outstanding Obligations payable with respect to the Revolving Credit Facility (and furnishing of cash collateral satisfactory to the Administrative Agent for all L/C Obligations) and and, if such reduction is permanent, termination of the Revolving Credit Commitment and the Revolving Credit Facility. Such cash collateral shall be applied in accordance with Section 12.2(b). If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such reduction may be made only on the last day of the then current Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 5.10 4.9 hereof.

Permanent Reduction of the Revolving Credit Commitment. (a) The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Revolving Credit Commitment of the Lenders in an aggregate principal amount of not less than $5,000,000 250,000 or any whole multiple of $1,000,000 100,000 in excess thereof. (b) If at any time proceeds ("Excess Proceeds") remain after the prepayment of Term Loan pursuant to Section 3.5, the Revolving Credit Commitment shall be permanently reduced by an amount equal to the amount of such Excess Proceeds. (c) Each permanent reduction permitted or required pursuant to this Section 2.5 shall be accompanied by a payment of principal sufficient to reduce the aggregate principal amount of outstanding Revolving Credit Loans and L/C Obligations of the Lenders after such reduction to the Revolving Credit Commitment as so reducedreduced and by payment of accrued interest as of the date of any such payment on the amount of such repaid principal. Any reduction of the Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Obligations with respect to the Revolving Credit Facility (and furnishing of cash collateral satisfactory to the Administrative Agent for all L/C Obligations) and termination of the Revolving Credit Commitment and the Revolving Credit Facility. Such cash collateral shall be applied in accordance with Section 12.2(b). If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such reduction may be made only on the last day of the then current Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 5.10 4.8 hereof.

Permanent Reduction of the Revolving Credit Commitment. (a) The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, in whole at any time or in part from time to time, without premium or penalty, the Revolving Credit Commitment in an aggregate principal amount not less than $5,000,000 2,000,000 or any whole multiple of $1,000,000 500,000 in excess thereof. (b) Each permanent reduction permitted pursuant to this Section 2.5 shall be accompanied by a payment of principal sufficient to reduce the aggregate principal amount of Revolving Credit Loans and L/C Obligations after such reduction to the Revolving Credit Commitment as so reduced. Any reduction of the Revolving Credit Aggregate Commitment to zero shall be accompanied by payment of all outstanding Obligations payable with respect to the Revolving Credit Facility (and furnishing of cash collateral satisfactory to the Administrative Agent for all L/C Obligations) and and, if such reduction is permanent, termination of the Revolving Credit Commitment and the Revolving Credit Facility. Such cash collateral shall be applied in accordance with Section 12.2(b). If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such reduction may be made only on the last day of the then current Interest Period applicable thereto unless such repayment is accompanied by any amount required to be paid pursuant to Section 5.10 4.9 hereof.