Reduction of Commitment Prepayment of Loans Sample Clauses

Reduction of Commitment Prepayment of Loans. (a) The Borrowers may at any time or from time to time and without penalty or premium reduce the Total Commitment to an amount (which may be zero) not less than the sum of the unpaid principal amount of all Loans then outstanding plus the principal amount of all Loans not yet made as to which ---- notice has been given by a Borrower under Section 2.03 hereof plus the Letter of ---- Credit Obligations at such time plus the stated amount of all Letters of Credit ---- not yet issued as to which a request has been made and not withdrawn. Any reduction shall be in an amount which is an integral multiple of $5,000,000. Reduction of the Total Commitment shall be made by providing not less than two Business Days' written notice (which notice shall be irrevocable) to such effect to the Administrative Agent (which notice the Administrative Agent shall promptly transmit to each Lender). Reductions of the Total Commitment are irrevocable and may not be reinstated. Each such reduction shall reduce the Commitment of each Lender proportionately in accordance with its Pro Rata Share. (b) Subject to the terms and conditions contained in this Section 2.07, Section 2.10 hereof and elsewhere in this Agreement, the Borrowers shall have the right to prepay the Loans, in whole or in part, provided that, subject to the terms of Section 2.08(a) hereof, the Borrowers shall be obligated to pay the Early Termination Fee with respect to any Loans prepaid in connection with a termination of the Total Commitment prior to June 19, 2000. (c) If at any time (i) the Borrowing Base of the Borrowers calculated on a combined basis is less than the sum of the outstanding principal on all Loans outstanding plus the outstanding amount of all Letter of Credit Obligations, (ii) the Borrowing Base of Squire on an individual basis is less than the sum of the outstanding principal on all A Revolving Credit Loans plus the outstanding amount of all A Letter of Credit Obligations, (iii) the Borrowing Base of Miss ▇▇▇▇▇ on an individual basis is less than the sum of the outstanding principal on all B Revolving Credit Loans plus the outstanding amount of all B Letter of Credit Obligations, or (iv) the Borrowing Base of ▇▇▇▇-▇▇ on an individual basis is less than the sum of the outstanding principal on all C Revolving Credit Loans plus the outstanding amount of all C Letter of Credit Obligations, Squire, Miss ▇▇▇▇▇ or ▇▇▇▇-▇▇, as appropriate, will (A) immediately give notice of such occurrence to the Admini...