Common use of Termination of Revolving Commitments Clause in Contracts

Termination of Revolving Commitments. (a) The Revolving Commitments shall terminate on the Revolving Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least three (3) Business Days (or such shorter period of time as the Administrative Agent may agree in its reasonable discretion) prior written notice to the Administrative Agent at any time, the Borrower may, at its option, terminate the Revolving Commitments and this Agreement. Any notice of termination given by the Borrower shall be irrevocable; provided that such notice may state that such notice is conditioned upon the effectiveness of other credit facilities or transactions, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. (b) The Borrower may permanently reduce the Revolving Commitments, on a ratable basis for each Revolving Lender, upon at least five (5) days (or such shorter period of time as the Administrative Agent may agree in its reasonable discretion) prior written notice to the Administrative Agent delivered at any time, which notice shall specify the amount of the reduction and shall be irrevocable once given; provided that the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder. Each reduction shall be in a minimum amount of $1,000,000, or an increment of $100,000 in excess thereof. If, after giving effect to any reduction of the Revolving Commitments, the Aggregate Letter of Credit Subline exceeds the amount of the Revolving Commitments, the Aggregate Letter of Credit Subline shall be automatically reduced by the amount of such excess.

Termination of Revolving Commitments. (a) The Revolving Commitments shall terminate on the Revolving Termination Date, unless sooner terminated in accordance with this Agreement. Upon at least three (3) Business Days (or such shorter period of time as the Administrative Agent may agree in its reasonable discretion) prior written notice to the Administrative Agent at any time, the Borrower may, at its option, terminate the Revolving Commitments and this Agreement. Any notice of termination given by the Borrower shall be irrevocable; provided that such notice may state that such notice is conditioned upon the effectiveness of other credit facilities or transactions, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. (b) The Borrower may permanently reduce the Revolving Commitments, on a ratable basis for each Revolving Lender, upon at least five (5) days (or such shorter period of time as the Administrative Agent may agree in its reasonable discretion) prior written notice to the Administrative Agent delivered at any time, which notice shall specify the amount of the reduction and shall be irrevocable once given; provided that the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder. Each reduction shall be in a minimum amount of $1,000,000, or an increment of $100,000 in excess thereof. If, after giving effect to any reduction of the Revolving Commitments, the Aggregate Letter of Credit Subline exceeds the amount of the Revolving Commitments, the Aggregate Letter of Credit Subline shall be automatically reduced by the amount of such excess. (c) Any termination of the Revolving Commitments pursuant to this Section 2.08 shall be accompanied by the payment of any applicable Revolving Facility Early Termination Fee.

Termination of Revolving Commitments. (a) The Unless previously terminated pursuant to this Section 2.9, all the Revolving Commitments shall terminate on the Maturity Date. (b) Subject to the terms of Section 5.11, the Borrower may at any time terminate the Revolving Termination DateCommitments upon (i) the payment in full of all outstanding Loans, unless sooner terminated in accordance together with this Agreement. Upon at least three accrued and unpaid interest thereon and on any Letters of Credit, (3ii) Business Days the cancellation and return of all outstanding Letters of Credit (or alternatively, with respect to each such shorter period Letter of time as Credit, the Administrative Agent may agree in its reasonable discretion) prior written notice furnishing to the Administrative Agent of a cash deposit (or at any timethe discretion of the Administrative Agent a back up standby letter of credit satisfactory to the Administrative Agent) equal to 102% of the LC Exposure as of such date), (iii) the payment in full of the accrued and unpaid fees, and (iv) the payment in full of all reimbursable expenses and other Obligations together with accrued and unpaid interest thereon. (c) The Borrower maymay from time to time reduce the Revolving Commitments; provided, at its option, terminate that (i) each reduction of the Revolving Commitments shall be in an amount that is an integral multiple of $500,000 and not less than $500,000 and (ii) the Borrower shall not reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans in accordance with Section 2.10, the sum of the aggregate Revolving Exposures of all Lenders would exceed the aggregate Revolving Commitments of all Lenders. (d) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Commitments under paragraph (b) or (c) of this AgreementSection at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Any Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice of termination given delivered by the Borrower pursuant to this Section shall be irrevocable; provided that such a notice of termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or transactionsfacilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. (b) The Borrower may permanently reduce the Revolving Commitments, on a ratable basis for each Revolving Lender, upon at least five (5) days (. Any termination or such shorter period of time as the Administrative Agent may agree in its reasonable discretion) prior written notice to the Administrative Agent delivered at any time, which notice shall specify the amount of the reduction and shall be irrevocable once given; provided that the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder. Each reduction shall be in a minimum amount of $1,000,000, or an increment of $100,000 in excess thereof. If, after giving effect to any reduction of the Revolving Commitments, the Aggregate Letter of Credit Subline exceeds the amount Commitments shall be permanent. Each reduction of the Revolving Commitments, the Aggregate Letter of Credit Subline Commitments shall be automatically reduced by made ratably among the amount of such excessLenders in accordance with their respective Revolving Commitments.