Common use of Reduction of Revolving Credit Commitments Clause in Contracts

Reduction of Revolving Credit Commitments. (a) The Borrowers may at any time terminate, or from time to time reduce, the Revolving Commitments; provided that (i) each reduction of the Revolving Commitments shall be in an amount that is an integral multiple of $100,000 and not less than $500,000, and (ii) the Borrowers shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 4.3, Availability would be less than zero. (b) The Borrowers shall notify the Agent of any election to terminate or reduce the Revolving Commitments under paragraph (a) of this Section at least ten (10) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrowers pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrowers may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrowers (by notice to the Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Commitments shall be permanent. Each reduction of the Revolving Commitments shall be made ratably among the Lenders with Revolving Commitments in accordance with their respective Revolving Commitments.

Reduction of Revolving Credit Commitments. (a) The Borrowers may Upon at any time terminate, least one Business Day's prior written notice (or from time telephonic notice promptly confirmed in writing) to time reducethe Administrative Agent at the Administrative Agent's Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Revolving Commitments; provided that (i) each reduction of Borrower shall have the Revolving Commitments shall be in an amount that is an integral multiple of $100,000 and not less than $500,000right, and (ii) the Borrowers shall not terminate without premium or reduce the Revolving Commitments ifpenalty, after giving effect to on any concurrent prepayment of the Loans in accordance with Section 4.3day, Availability would be less than zero. (b) The Borrowers shall notify the Agent of any election permanently to terminate or reduce the Revolving Credit Commitments under paragraph in whole or in part, provided that (ai) any such reduction shall apply proportionately and permanently to reduce the Revolving Credit Commitment of this Section at least ten (10) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Agent shall advise the applicable Lenders each of the contents thereof. Each notice delivered by the Borrowers Lenders, (ii) any partial reduction pursuant to this Section 4.2 shall be irrevocable; provided that a notice in the amount of at least $1,000,000 and (iii) after giving effect to such termination or reduction and to any prepayments of the Loans made on the date thereof in accordance with this Agreement, the sum of (A) the aggregate outstanding principal amount of the Revolving Commitments delivered Credit Loans and the Swingline Loans and (B) the Letter of Credit Outstandings shall not exceed the Total Revolving Credit Commitment. (b) On the Closing Date, the Total Revolving Credit Commitment as in effect under the Original Credit Agreement shall be permanently reduced by $10,000,000 (from $100,000,000 to $90,000,000) and such reduction shall be allocated proportionately to reduce the Revolving Credit Commitment of each of the Lenders. (c) In the event that a prepayment is required pursuant to Section 5.2(b), the Total Revolving Credit Commitment then in effect shall be permanently reduced by an amount equal to the amount of such required prepayment (regardless of the amount of Loans actually prepaid), and such reduction shall be allocated proportionately to reduce the Revolving Credit Commitment of each of the Lenders. (d) If the Collateral Coverage Ratio immediately prior to a Prepayment Event is greater than the Collateral Coverage Ratio immediately after such Prepayment Event, then the Total Revolving Credit Commitment then in effect shall be permanently reduced by an amount such that after such reduction the Collateral Coverage Ratio will be equal to or greater than the Collateral Coverage Ratio immediately prior to such Prepayment Event, and such reduction shall be allocated proportionately to reduce the Revolving Credit Commitment of each of the Lenders. If any Prepayment Event occurs, the Borrower shall deliver to the Administrative Agent such information as the Administrative Agent shall request relating to any change in the Collateral Coverage Ratio resulting from such Prepayment Event, and the Administrative Agent shall have the right to audit (at the Borrower's expense, including any reasonable fees charged by the Borrowers may state that Administrative Agent for such notice is conditioned upon audit) the effectiveness Borrower's calculation of other credit facilities, any change in which case the Collateral Coverage Ratio resulting from such notice may be revoked by the Borrowers (by notice to the Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Commitments shall be permanent. Each reduction of the Revolving Commitments shall be made ratably among the Lenders with Revolving Commitments in accordance with their respective Revolving CommitmentsPrepayment Event.

Reduction of Revolving Credit Commitments. The Total Revolving Credit Commitment shall terminate on the Final Maturity Date. The Borrower may, without premium or penalty, reduce the Total Revolving Credit Commitment to an amount (awhich may be zero) The Borrowers may not less than the sum of (A) the aggregate unpaid principal amount of all Revolving Loans then outstanding, (B) the aggregate principal amount of all Revolving Loans not yet made as to which a Notice of Borrowing has been given by the Borrower under Section 2.02, (C) the Letter of Credit Obligations at any such time terminate, or from time and (D) the stated amount of all Letters of Credit not yet issued as to time reduce, the Revolving Commitments; provided that (i) each which a request has been made and not withdrawn. Each such reduction of the Revolving Commitments shall be in an amount that which is an integral multiple of $100,000 and 1,000,000 (unless the Total Revolving Credit Commitment in effect immediately prior to such reduction is less than $1,000,000), shall be made by providing not less than $500,000, and three (ii) the Borrowers shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 4.3, Availability would be less than zero. (b) The Borrowers shall notify the Agent of any election to terminate or reduce the Revolving Commitments under paragraph (a) of this Section at least ten (103) Business Days Days’ prior written notice to the effective date of Administrative Agent and shall be irrevocable, provided that such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrowers pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrowers Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrowers Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied, provided further that the Borrower shall remain obligated to make any payments pursuant to Section 2.10 as though they had failed to repay a LIBOR Rate Loan. Any termination or Once reduced, the Total Revolving Credit Commitment may not be increased. Each such reduction of the Total Revolving Commitments Credit Commitment shall be permanent. Each reduction of reduce the Revolving Commitments shall be made ratably among the Lenders with Revolving Commitments Credit Commitment of each Lender proportionately in accordance with their respective Revolving Commitmentsits Pro Rata Share thereof.

Reduction of Revolving Credit Commitments. (a) The Borrowers may at any time terminate, or from time to time reduce, the Revolving Commitments; provided that Credit Commitment shall be permanently reduced (i) by the amount of each reduction of payment made pursuant to Sections 2.11(b) applied to Revolving Loans to the Revolving Commitments shall be in an amount that is an integral multiple of $100,000 and not less than $500,000extent directed by the Borrower Representative, and (ii) to zero Dollars ($0) on the Borrowers shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 4.3, Availability would be less than zeroCommitment Termination Date. (b) The Borrowers shall notify have the Agent of any election right to terminate or reduce in whole the Revolving Credit Commitments under paragraph (a) and this Agreement or, from time to time, irrevocably to reduce in part the amount of this Section the Revolving Credit Commitments upon at least ten fifteen (1015) Business Days days’ prior written notice from Borrower Representative to the Agent. Such notice shall be irrevocable on the part of the Borrowers and shall specify the effective date of such termination or reduction, specifying whether a termination or reduction is being made, and, in the case of any reduction, the amount thereof (which shall be in an amount of $100,000 or an integral multiple $10,000 in excess thereof). Upon any such election reduction, the Borrowers shall simultaneously prepay any outstanding Revolving Loans (without premium except for the prepayment fee as required by Section 2.7(c) and except for the effective date payment of any charges incurred pursuant to Section 9.4(d)) to the extent necessary so that the aggregate outstanding principal amount of the Revolving Loans does not exceed the amount of the Revolving Credit Commitment after giving effect to any partial reduction thereof. Promptly following receipt The aforesaid prior notice requirement shall not apply to the Agent’s exercise of any noticeremedies under Section 8.2. The amount of the Revolving Credit Commitment may not be reinstated if it is reduced or if this Agreement is terminated by the Borrowers. (c) In the event the Borrowers exercise their rights under Section 2.11(b) to reduce the Revolving Credit Commitment, the Agent Borrowers agree that any such prepayment or reduction shall advise be accompanied by (i) in the applicable Lenders case of a prepayment in full and termination of this Agreement, the contents thereof. Each notice delivered payment by the Borrowers pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrowers may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrowers (by notice to the Agent for the ratable account of the Lenders of all accrued and unpaid interest and all fees and other remaining Obligations hereunder, (ii) if such prepayment or reduction shall occur on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction third anniversary of the Revolving Commitments shall be permanent. Each reduction Restatement Effective Date, the prepayment fee provided for in Section 2.7(c) and (iii) the payment of the Revolving Commitments shall be made ratably among the Lenders with Revolving Commitments in accordance with their respective Revolving Commitmentsany prepayment charges incurred pursuant to Section 9.4(d).

Reduction of Revolving Credit Commitments. The Total Revolving Credit Commitment shall terminate on the Final Maturity Date. The Borrower may, without premium or penalty, reduce the Total Revolving Credit Commitment to an amount (awhich may be zero) The Borrowers may not less than the sum of (A) the aggregate unpaid principal amount of all Revolving Loans then outstanding, (B) the aggregate principal amount of all Revolving Loans not yet made as to which a Notice of Borrowing has been given by the Borrower under Section 2.02, (C) the Letter of Credit Obligations at any such time terminate, or from time and (D) the stated amount of all Letters of Credit not yet issued as to time reduce, the Revolving Commitments; provided that (i) each which a request has been made and not withdrawn. Each such reduction of the Revolving Commitments shall be in an amount that which is an integral multiple of $100,000 and 1,000,000 (unless the Total Revolving Credit Commitment in effect immediately prior to such reduction is less than $1,000,000), shall be made by providing not less than $500,000, and three (ii) the Borrowers shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 4.3, Availability would be less than zero. (b) The Borrowers shall notify the Agent of any election to terminate or reduce the Revolving Commitments under paragraph (a) of this Section at least ten (103) Business Days Days’ prior written notice to the effective date of Administrative Agent and shall be irrevocable, provided, that such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrowers pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrowers Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrowers Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied; provided further, that the Borrower shall remain obligated to make any payments pursuant to Section 2.10 as though they had failed to repay a LIBOR Rate Loan. Any termination or Once reduced, the Total Revolving Credit Commitment may not be increased. Each such reduction of the Total Revolving Commitments Credit Commitment shall be permanent. Each reduction of reduce the Revolving Commitments shall be made ratably among the Lenders with Revolving Commitments Credit Commitment of each Lender proportionately in accordance with their respective Revolving Commitmentsits Pro Rata Share thereof.

Reduction of Revolving Credit Commitments. The Total Revolving Credit Commitment shall terminate on the Final Maturity Date. The Borrower may, without premium or penalty, reduce the Total Revolving Credit Commitment to an amount (awhich may be zero) The Borrowers may not less than the sum of (A) the aggregate unpaid principal amount of all Revolving Loans then outstanding, (B) the aggregate principal amount of all Revolving Loans not yet made as to which a Notice of Borrowing has been given by the Borrower under Section 2.02, (C) the Letter of Credit Obligations at any such time terminate, or from time and (D) the stated amount of all Letters of Credit not yet issued as to time reduce, the Revolving Commitments; provided that (i) each which a request has been made and not withdrawn. Each such reduction of the Revolving Commitments shall be in an amount that which is an integral multiple of $100,000 and 1,000,000 (unless the Total Revolving Credit Commitment in effect immediately prior to such reduction is less than $1,000,000), shall be made by providing not less than $500,000, and (ii) the Borrowers shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 4.3, Availability would be less than zero. (b) The Borrowers shall notify the Agent of any election to terminate or reduce the Revolving Commitments under paragraph (a) of this Section at least ten (10) three Business Days Days’ prior written notice to the effective date of Administrative Agent and shall be irrevocable, provided, that such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrowers pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrowers Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrowers Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied; provided further, that the Borrower shall remain obligated to make any payments pursuant to Section 2.10 as though they had failed to repay a LIBOR Rate Loan. Any termination or Once reduced, the Total Revolving Credit Commitment may not be increased. Each such reduction of the Total Revolving Commitments Credit Commitment shall be permanent. Each reduction of reduce the Revolving Commitments shall be made ratably among the Lenders with Revolving Commitments Credit Commitment of each Lender proportionately in accordance with their respective Revolving Commitmentsits Pro Rata Share thereof.