Common use of Voluntary Commitment Reduction Clause in Contracts

Voluntary Commitment Reduction. The Borrower shall have the right, upon at least three Business Days’ notice to the Lender, to terminate in whole or, upon same day notice, from time to time to permanently reduce in part the unused portion of the Commitment; provided that each partial reduction shall be in the aggregate amount of $5,000,000 or in an integral multiple of $1,000,000 in excess thereof. Each such notice of termination or reduction shall be irrevocable. Without limiting subsection (b) below, if the Commitment is reduced or terminated pursuant to this subsection (a) it may not be reinstated.