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

Reduction or Termination of the Commitments. (a) The Borrower may, upon at least four Business Days' notice to the Administrative Agent (which notice shall once given be irrevocable), permanently terminate in whole or reduce in part the unused portions of the Total Commitments. (b) Each partial reduction referred to in clause (a) shall be in a minimum amount of $5,000,000 and an integral multiple of $1,000,000 in excess thereof (or, if less, the Total Commitments) and shall be made ratably among the Lenders in accordance with their respective Commitment Percentages. (c) The Total Commitments shall be automatically and permanently reduced as of any date on which Advances are prepaid pursuant to Section 5.2 and 5.3, by the aggregate principal amount of the Advances so prepaid. (d) On the Termination Date the then-remaining undrawn Commitments of the Lenders shall be automatically terminated.