Common use of Reduction of the Commitments Clause in Contracts

Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion of the Commitment; provided that each partial reduction shall be in the aggregate amount of $1,000,000 or in integral multiples of $500,000 in excess thereof. Each notice delivered by the Borrower pursuant to this Section 2.03 shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower in connection with a refinancing or a sale may state that such notice is conditioned upon the effectiveness of other credit facilities or such sale agreement, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. (b) Except as provided in the immediately preceding sentence, any reduction and termination of the Commitments pursuant to this Section 2.03 shall be applied ratably to each Lender’s Commitment and shall be permanent, with no obligation of the Lenders to reinstate such Commitments and the commitment fees provided for in Section 2.06(a) shall thereafter be computed on the basis of the Commitments as so reduced.

Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ irrevocable notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion of the CommitmentCommitments; provided that each partial reduction shall be in the aggregate a minimum amount of $1,000,000 or 500,000 and in integral multiples of $500,000 100,000 in excess thereof. Each notice delivered by the Borrower pursuant to this Section 2.03 shall be irrevocable; provided further that a notice of termination or reduction of the Commitments delivered by the Borrower in connection with a refinancing or a sale pursuant to this section may state that such notice is conditioned upon the effectiveness of other new credit facilities or such sale agreementother debt or equity financing, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. (b) Except as provided in the immediately preceding sentence, any . Any reduction and or termination of the Commitments pursuant to this Section 2.03 2.1(c) shall be applied ratably to each Lender’s Commitment and shall be permanent, with no obligation of the Lenders to reinstate such Commitments Commitments, and the commitment fees provided for in Section 2.06(a) applicable Commitment Fees shall thereafter be computed on the basis of the Commitments Commitments, as so reduced.

Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ ' irrevocable notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion of the CommitmentCommitments; provided that each partial reduction shall be in the aggregate a minimum amount of $1,000,000 or 500,000 and in integral multiples of $500,000 100,000 in excess thereof. Each notice delivered by the Borrower pursuant to this Section 2.03 shall be irrevocable; provided further that a notice of termination or reduction of the Commitments delivered by the Borrower in connection with a refinancing or a sale pursuant to this section may state that such notice is conditioned upon the effectiveness of other new credit facilities or such sale agreementother debt or equity financing, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. (b) Except as provided in the immediately preceding sentence, any . Any reduction and or termination of the Commitments pursuant to this Section 2.03 2.1(c) shall be applied ratably to each Lender’s 's Commitment and shall be permanent, with no obligation of the Lenders to reinstate such Commitments Commitments, and the commitment fees provided for in Section 2.06(a) applicable Commitment Fees shall thereafter be computed on the basis of the Commitments Commitments, as so reduced.

Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, Agent to terminate in whole or reduce ratably in part the unused portion portions of the Commitment; provided respective Commitments of the Banks, provided, that (i) each partial reduction shall be in the aggregate amount of $1,000,000 or in an integral multiples multiple of $500,000 1,000,000 in excess thereof and (ii) the Borrower shall not reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.08, the Revolving Credit Exposure would exceed the Total Commitments. Promptly following receipt of any such notice, the Agent shall advise the Banks of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.03 shall be irrevocable; provided that that, in the case of a notice of termination of all of the Commitments delivered by Commitments, the Borrower in connection with a refinancing or a sale may state provide that such notice is conditioned upon on the effectiveness occurrence or non-occurrence of other credit facilities any event specified therein (including the consummation of any acquisition, receipt of proceeds from the incurrence of Debt or such sale agreement, in which case such notice may be revoked by the Borrower (by notice to refinancing of the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. (b) Except as provided in the immediately preceding sentence, any Loans and Commitments hereunder). Any reduction and termination of the Commitments pursuant to this Section 2.03 shall be applied ratably to each Lender’s Commitment and shall be permanent, with no obligation of the Lenders to reinstate such Commitments and the commitment fees provided for in Section 2.06(a) shall thereafter be computed on the basis . Each reduction of the Commitments as so reducedshall be made ratably among the Banks in accordance with their respective Commitments.

Reduction of the Commitments. (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portion of the Commitment; provided that each partial reduction shall be in the aggregate amount of $1,000,000 or in integral multiples of $500,000 in excess thereof. Each notice delivered by the Borrower pursuant to this Section 2.03 shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower in connection with a refinancing or a sale may state that such notice is conditioned upon the effectiveness of other credit facilities or such sale agreement, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.. 3rd Amended/Restated Credit Agreement (b) Except as provided in the immediately preceding sentence, any reduction and termination of the Commitments pursuant to this Section 2.03 shall be applied ratably to each Lender’s Commitment and shall be permanent, with no obligation of the Lenders to reinstate such Commitments and the commitment fees provided for in Section 2.06(a) shall thereafter be computed on the basis of the Commitments as so reduced.