Common use of Reduction of Facility Limit Clause in Contracts

Reduction of Facility Limit. The Seller shall have the right, at any time upon at least three (3) Business Days' notice to Triple-A, to terminate in whole or reduce in part the unused portion of the Facility Limit in a minimum amount of $10,000,000 and increments of $1,000,000 in excess thereof; PROVIDED that if the aggregate of the simultaneous reductions in the Facility Limit hereunder and under the Credit Agreement satisfy such test, the Seller may reduce the unused portion of the Facility Limit hereunder in a minimum amount of $3,000,000 and increments of $600,000 in excess thereof; PROVIDED, that in no event shall the Facility Limit be reduced to less than the amount of Capital then outstanding. Any such termination shall be without premium or penalty of any kind, except for any indemnification which may be owed in connection with such termination pursuant to SECTION 2.06 and SECTION 8.01.

Reduction of Facility Limit. The Seller shall have the right, at any time upon at least three (3) Business Days' notice to Triple-Triple A, to terminate in whole or reduce in part the unused portion of the Facility Limit in a minimum amount of $10,000,000 and increments of $1,000,000 in excess thereof; PROVIDED that if the aggregate of the simultaneous reductions in the Facility Limit hereunder and under the Credit Agreement satisfy such test, the Seller may reduce the unused portion of the Facility Limit hereunder in a minimum amount of $3,000,000 and increments of $600,000 in excess thereof; PROVIDED, that in no event shall the Facility Limit be reduced to less than the amount of Capital then outstanding. Any such termination shall be without premium or penalty of any kind, except for any indemnification which may be owed in connection with such termination pursuant to SECTION 2.06 and SECTION 8.01.