Common use of Reductions in Revolving Loan Commitments Clause in Contracts

Reductions in Revolving Loan Commitments. Borrower may at any time on at least five (5) days' prior written notice by Borrower to Agent permanently reduce (but not terminate) the Revolving Loan Commitment; provided that (A) any such reductions shall be in a minimum amount of $5,000,000 and integral multiples of $250,000 in excess of such amount, (B) the Revolving Loan Commitment shall not be reduced to an amount less than the amount of the Revolving Loan and Swing Line Loan then outstanding and (C) after giving effect to such reductions, Borrower shall comply with Section 1.3(b)(i). In addition, Borrower may at any time on at least ten (10) days' prior written notice by Borrower to Agent terminate the Revolving Loan Commitment; provided that upon such termination, (i) all Loans and other Obligations shall be immediately due and payable in full and (ii) all Letter of Credit Obligations shall be cash collateralized or otherwise satisfied in accordance with Annex B. Any voluntary reduction or termination of the Revolving Loan Commitment must be accompanied by (A) payment of the Fee required by Section 1.9(c) on the amount by which the Revolving Loan Commitment was reduced or terminated, plus (B) the payment of any LIBOR funding breakage costs in accordance with Section 1.13(b), plus (C) the accrued but unpaid Fee required by Section 1.9(b) on the amount by which the Revolving Loan Commitment was reduced or terminated, as applicable, through the date of such reduction or termination, respectively. Upon any such reduction or termination of the Revolving Loan Commitment, Borrower's right to request Revolving Credit Advances or Swing Line Advances, or to request that Letter of Credit Obligations be incurred on its behalf or on behalf of any other Account Party, shall simultaneously be permanently reduced or terminated, as the case may be; provided that a permanent reduction of the Revolving Loan Commitment shall require a corresponding pro rata reduction in the L/C Sublimit.

Reductions in Revolving Loan Commitments. Borrower Borrowers may at any time on at least five (5) 5 days' prior written notice by Borrower Borrowers to Agent permanently reduce (but not terminate) the Revolving Loan Commitment; provided provided, that (A) any such prepayments or reductions shall be in a minimum amount of $5,000,000 500,000 and integral multiples of $250,000 100,000 in excess of such amount, (B) the Revolving Loan Commitment shall not be reduced to an amount less than the lesser of (i) $20,000,000 and (ii) the amount of the Revolving Loan and Swing Line Loan then outstanding outstanding, and (C) after giving effect to such reductions, Borrower Borrowers shall comply with Section 1.3(b)(i). In addition, Borrower Borrowers may at any time on at least ten (10) 10 days' prior written notice by Borrower Borrowers to Agent terminate the Revolving Loan Commitment; provided provided, that upon such termination, (i) all Loans and other Obligations shall be immediately due and payable in full and (ii) all Letter of Credit Obligations shall be cash collateralized or otherwise satisfied in accordance with Annex B. B hereto. Any voluntary prepayment and any reduction or termination of the Revolving Loan Commitment must be accompanied by (A) payment of the Fee required by Section 1.9(c) on the amount by which the Revolving Loan Commitment was reduced or terminated, plus (B) the payment of any LIBOR funding breakage costs in accordance with Section 1.13(b), plus (C) the accrued but unpaid Fee required by Section 1.9(b) on the amount by which the Revolving Loan Commitment was reduced or terminated, as applicable, through the date of such reduction or termination, respectively. Upon any such reduction or termination of the Revolving Loan Commitment, each Borrower's right to request Revolving Credit Advances or Swing Line Advances, or to request that Letter of Credit Obligations be incurred on its behalf or on behalf of any other Account Partybehalf, shall simultaneously be permanently reduced or terminated, as the case may be; provided provided, that a permanent reduction of the Revolving Loan Commitment shall require a corresponding pro rata reduction in the L/C Sublimit.

Reductions in Revolving Loan Commitments. Borrower Borrowers may at any time on at least five (5) days' ’ prior written notice by Borrower Representative to Agent permanently reduce (but not terminateterminate in whole) the Revolving Loan Commitment; provided that (A) any such reductions shall be in a minimum amount of $5,000,000 and integral multiples of $250,000 1,000,000 in excess of such amount, (B) the Revolving Loan Commitment shall not be reduced to an amount less than the amount of the Revolving Loan and Swing Line Loan then outstanding $25,000,000, and (C) after giving effect to such reductions, Borrower Borrowers shall comply with Section 1.3(b)(i). In addition, Borrower Borrowers may at any time on at least ten (10) days' ’ prior written notice by Borrower Representative to Agent terminate the Revolving Loan Commitment; provided that upon such termination, (i) all Loans and other Obligations shall be immediately due and payable in full and (ii) all Letter of Credit Obligations shall be cash collateralized or otherwise satisfied in accordance with Annex B. B hereto. Any voluntary reduction or termination of the Revolving Loan Commitment must be accompanied by (A) payment of the Fee required by Section 1.9(c) on the amount by which the Revolving Loan Commitment was reduced or terminated1.7(c), if any, plus (B) the payment of any LIBOR funding breakage costs in accordance with Section 1.13(b1.11(b), plus (C) the accrued but unpaid Fee required by Section 1.9(b) on the amount by which the Revolving Loan Commitment was reduced or terminated, as applicable, through the date of such reduction or termination, respectively. Upon any such reduction or termination of the Revolving Loan Commitment, each Borrower's ’s right to request Revolving Credit Advances or Swing Line Advances, or to request that Letter of Credit Obligations be incurred on its behalf behalf, or on behalf of any other Account Partyrequest Swing Line Advances, shall simultaneously be permanently reduced or terminated, as the case may be; provided that a permanent reduction of the Revolving Loan Commitment shall require a corresponding pro rata reduction in the L/C Sublimit.

Reductions in Revolving Loan Commitments. Borrower Borrowers may at any time on at least five (5) 5 days' prior written notice by Borrower Borrowers to Agent permanently reduce (but not terminate) the Revolving Loan Commitment; provided provided, that (A) any such prepayments or reductions shall be in a minimum amount of $5,000,000 500,000 and integral multiples of $250,000 100,000 in excess of such amount, amount and (B) the Revolving Loan Commitment shall not be reduced to an amount less than the amount of the Revolving Loan and Swing Line Loan then outstanding and (C) after giving effect to such reductions, Borrower Borrowers shall comply with Section 1.3(b)(i). In addition, Borrower Borrowers may at any time on at least ten (10) 10 days' prior written notice by Borrower Borrowers to Agent terminate the Revolving Loan Commitment; provided provided, that upon such termination, (i) all Loans and other Obligations shall be immediately due and payable in full and (ii) all Letter of Credit Obligations shall be cash collateralized or otherwise satisfied in accordance with Annex B. B hereto. Any voluntary prepayment and any reduction or termination of the Revolving Loan Commitment must be accompanied by (A) payment of the Fee required by Section 1.9(c) on the amount by which the Revolving Loan Commitment was reduced or terminated, plus (B) the payment of any LIBOR funding breakage costs in accordance with Section 1.13(b), plus (C) the accrued but unpaid Fee required by Section 1.9(b) on the amount by which the Revolving Loan Commitment was reduced or terminated, as applicable, through the date of such reduction or termination, respectively. Upon any such reduction or termination of the Revolving Loan Commitment, each Borrower's right to request Revolving Credit Advances or Swing Line Advances, or to request that Letter of Credit Obligations be incurred on its behalf or on behalf of any other Account Partybehalf, shall simultaneously be permanently reduced or terminated, as the case may be; provided provided, that a permanent reduction of the Revolving Loan Commitment shall require a corresponding pro rata reduction in the L/C Sublimit.