Common use of Reductions in Commitment Clause in Contracts

Reductions in Commitment. The Borrower may, at its option, permanently reduce the Commitment in whole or in part, in a minimum amount of $1,000,000 and in integral multiples of $500,000, upon at least three Business Days’ written notice to the Lender, which notice shall specify the amount of any such reduction; provided, however, that the amount of the Commitment may not be reduced below the aggregate Advances outstanding at such time.

Reductions in Commitment. The Borrower mayshall have the right, upon at its optionleast 3 Business Days' prior written notice to the Lender at the Payment Office, to reduce permanently reduce the Commitment in whole or in partCommitment, in a minimum an aggregate amount equal to an integral multiple of $1,000,000 and in integral multiples of not less than $500,00010,000,000, upon at least three Business Days’ written notice or to terminate the Lender, which notice shall specify the amount of any such reduction; provided, however, that the amount unutilized portion of the Commitment may not be reduced below the aggregate Advances outstanding at such timeCommitment.