Common use of Voluntary Commitment Reduction Clause in Contracts

Voluntary Commitment Reduction. The Borrowers shall have the right at ------------------------------ any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty any unused portion of the Term Loan Commitment, from time to time, in an aggregate principal amount not less than $2,000,000 or any whole multiple of $500,000 in excess thereof.

Appears in 1 contract

Sources: Credit Agreement (Choice One Communications Inc)

Voluntary Commitment Reduction. The Borrowers shall have the ------------------------------ right at ------------------------------ any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty any unused portion of the Term A Loan Commitment, from time to time, in an aggregate principal amount not less than $2,000,000 or any whole multiple of $500,000 in excess thereof.

Appears in 1 contract

Sources: Credit Agreement (Choice One Communications Inc)