Common use of Termination or Reduction Clause in Contracts

Termination or Reduction. The Company shall have the right, upon five Business Days' prior written notice to each Bank, to ratably reduce in part the Aggregate Revolver Commitment, provided, however, that (i) each partial reduction of the Aggregate Revolver Commitment shall be in the amount of $1,000,000 or an integral multiple thereof, and (ii) no reduction shall reduce the Aggregate Revolver Commitment to an amount less than the sum of (A) the aggregate principal amount of outstanding Revolving Credit Loans, (B) the aggregate principal amount of outstanding Swingline Loans, and (C) the aggregate amount of outstanding Letter of Credit Obligations. Subject to the limitations of the preceding sentence, the Aggregate Revolver Commitment may be terminated in whole at any time upon five Business Days' prior written notice to each Bank. The Company shall also have the right, upon five (5) Business Days' notice to each Bank, to ratably reduce in part the Term Loan Commitment at any time prior to the end of the Drawdown Period, provided, however, that (i) each partial reduction of the Term Loan Commitment shall be in the amount of $1,000,000 or an integral multiple thereof, and (ii) no reduction shall reduce the Term Loan Commitment to an amount less than the outstanding principal balance of the Term Loan.