Common use of Reductions in Revolving Loan Commitments Clause in Contracts

Reductions in Revolving Loan Commitments. Borrowers may, at any time upon at least two (2) Business Days’ (or such shorter period as is acceptable to Agent) prior notice by Borrower Representative to Agent, permanently reduce (but not terminate) the Aggregate Revolving Loan Commitment; provided that (i) such reductions shall be in a minimum amount equal to $5,000,000 and in increments of $500,000 in excess thereof, and (ii) the Aggregate Revolving Loan Commitment shall not be reduced to an amount less than the Aggregate Revolving Exposure at such time. In addition, Borrowers may, at any time on at least ten (10) days’ prior written notice by Borrower Representative to Agent, terminate the Aggregate Revolving Loan Commitment; provided that upon such termination, all Obligations shall be immediately due and payable in full. Optional reductions or terminations of the Revolving Loan Commitment shall be without premium or penalty except as provided in Sections 1.9(d) and 10.4. All reductions of the Aggregate Revolving Loan Commitment shall be allocated pro rata in accordance with their Revolving Loan Commitment Percentages among all Lenders with a Revolving Loan Commitment.

Reductions in Revolving Loan Commitments. Borrowers may, at any time upon at least two three (23) Business Days’ ' (or such shorter period as is acceptable to Agent) prior notice by Borrower Representative to Agent, permanently reduce (but not terminate) the Aggregate Revolving Loan CommitmentCommitments; provided that (i) such reductions shall be in a minimum amount equal to $5,000,000 and in increments of $500,000 1,000,000 in excess thereof, and (ii) the Aggregate Revolving Loan Commitment Commitments shall not be reduced to an amount less than the Aggregate Revolving Exposure at such time. In addition, Borrowers may, at any time on at least ten (10) days’ ' prior written notice by Borrower Representative to Agent, terminate the Aggregate Revolving Loan CommitmentCommitments; provided that upon such termination, all Obligations shall be immediately due and payable in full. Optional reductions or terminations of the Aggregate Revolving Loan Commitment Commitments shall be without premium or penalty except as provided in Sections 1.9(d) and 10.4. All reductions of the Aggregate Revolving Loan Commitment Commitments shall be allocated pro rata in accordance with their Revolving Loan each Lender's the Commitment Percentages among all Lenders with a Revolving Loan CommitmentPercentage.