Common use of Reduction or Termination of Revolving Commitments Clause in Contracts

Reduction or Termination of Revolving Commitments. The Borrower, from time to time upon not less than three (3) Business Days’ prior written notice to the Agent, may: (i) permanently reduce the Revolving Commitment Amount to an amount not less than the Total Outstanding Revolving Amount, which reduction shall be pro rata as to all Revolving Commitments according to each Bank’s Revolving Percentage and shall be in an aggregate amount equal to $5,000,000 or a higher integral multiple of $1,000,000; or (ii) if there are no Total Outstanding Revolving Amounts and the Borrower shall concurrently pay all other Obligations, terminate the Revolving Commitments.

Reduction or Termination of Revolving Commitments. The BorrowerBorrowers, from time to time upon not less than three (3) Business Days’ prior written notice to the Agent, may: (i) permanently reduce the Revolving Commitment Amount to an amount not less than the Total Outstanding Revolving AmountAmount plus (unless the Borrowers are terminating the entire credit facility) the Line Block, which reduction shall be pro rata as to all Revolving Commitments according to each Bank’s Revolving Percentage and shall be in an aggregate amount equal to $5,000,000 or a higher integral multiple of $1,000,000; or (ii) if there are no Total Outstanding Revolving Amounts and the Borrower Borrowers shall concurrently pay all other Obligations, terminate the Revolving Commitments.