Common use of Termination of Revolver Commitments Clause in Contracts

Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 90 days prior written notice to Agent at any time after the first Loan Year, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice of termination given by Borrowers shall be irrevocable. On the termination date, Borrowers shall make Full Payment of all Obligations. (b) [Intentionally Omitted]. (c) Concurrently with a termination of the Revolving Commitments, for whatever reason (including an Event of Default), Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders and as liquidated damages for loss of bargain (and not as a penalty), an amount equal to (i) if the termination occurs during the first Loan Year, 2.0% of the Revolver Commitments; (ii) if it occurs during the second Loan Year, 1.0% of the Revolver Commitments; and (iii) if it occurs thereafter, 0.0% of the Revolver Commitments. No termination charge shall be payable if termination occurs on the Revolver Termination Date or in connection with a refinancing of this credit facility by Bank of America or any of its Affiliates.

Termination of Revolver Commitments. (a) The Revolver Commitments shall terminate on the Revolver Commitment Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least 90 30 days prior written notice to Agent at any time after the first Loan YearAgent, Borrowers Borrower may, at their its option, terminate the Revolver Commitments and this credit facilityfacility prior to the Scheduled Revolving Period End Date. Any notice of termination given by Borrowers Borrower shall be irrevocable. On irrevocable and on the termination dateeffective date of such termination, Borrowers Borrower shall make Full Payment of all Obligations. (b) [Intentionally Omitted]. (c) Concurrently with a any termination of the Revolving CommitmentsRevolver Commitments and this credit facility during the first two Loan Years, for whatever reason (including an Event of Default), Borrowers Borrower shall pay to Agent, for the Pro Rata benefit of Lenders and as liquidated damages for loss of bargain (and not as a penalty), an a termination fee amount equal to (i) 2% of the Revolver Commitments if the termination occurs during Revolver Commitments are terminated in the first month of the first Loan Year, 2.0% of the Revolver Commitments; and (ii) if it occurs during the Revolver Commitments are terminated in subsequent months through the end of the second Loan Year, 1.0an amount equal to the product of (x) the difference between (1) 2% of the Revolver Commitments; and (iii2) if it occurs thereafter(A) 0.08333%, 0.0% times (B) the number of months elapsed since the Closing Date, and (y) the Revolver Commitments. No termination charge shall be payable if termination occurs on after the Revolver Termination Date or in connection with a refinancing end of this credit facility by Bank of America or any of its Affiliatesthe second Loan Year.