Common use of Termination or Reduction of the Commitment Clause in Contracts

Termination or Reduction of the Commitment. The Borrower may from time to time on at least ten calendar days’ prior notice received by the Bank terminate the Commitment in whole or permanently reduce the Commitment in part, provided that (i) the Commitment may not be terminated in whole at any time that any Letter of Credit or Unreimbursed L/C Obligation remains outstanding, (ii) each partial reduction of the Commitment shall be in the minimum amount of $10,000,000 or in a multiple of $10,000,000 in excess thereof and (iii) no partial reduction of the Commitment shall reduce the aggregate amount of the Commitment to an amount less than the L/C Amount.