Common use of REDUCTION OR TERMINATION Clause in Contracts

REDUCTION OR TERMINATION. The Borrower may (i) terminate the Total Commitments at any time if no Loans or LOC Obligations are outstanding at such time, and (ii) ratably and permanently reduce from time to time, by an aggregate amount of not less than $3,000,000 and additional increments of $1,000,000, the unused portion of the Total Commitments, and may, in increments of $1,000,000, allocate such reductions to amounts available under the Revolving Credit Commitments and the Employee Loan Participations.

REDUCTION OR TERMINATION. The Borrower may (i) terminate the Total Revolving Credit Commitments at any time if no Loans or LOC Obligations are outstanding at such time, and (ii) ratably and permanently reduce from time to time, by an aggregate amount of not less than $3,000,000 and additional increments of $1,000,000, the unused portion of the Total Commitments, and may, in increments of $1,000,000, allocate such reductions to amounts available under the Revolving Credit Commitments and the Employee Loan ParticipationsCommitments.