Common use of Voluntary Reduction of Commitments Clause in Contracts

Voluntary Reduction of Commitments. Upon at least three (3) Business Days’ prior written notice (or telephonic notice confirmed in writing) (which notice may be conditioned upon the happening of a future event) to Administrative Agent at the Notice Address (which notice Administrative Agent shall promptly transmit to each Lender), Borrowers’ Agent shall have the right, without premium or penalty, to terminate the unutilized portion of the Dollar Revolving Commitments or the Multicurrency Revolving Commitment in part or in whole, provided that (x) any such voluntary termination of the Dollar Revolving Commitment or Multicurrency Revolving Commitment shall apply to proportionately and permanently reduce the Dollar Revolving Commitment or Multicurrency Revolving Commitment of each Dollar Revolving Lender or Multicurrency Revolving Lender, as the case may be, (y) any partial voluntary reduction pursuant to this Section 4.1 shall be in the amount of at least $5,000,000 and integral multiples of $1,000,000 in excess of that amount and (z) any such voluntary termination of the Dollar Revolving Commitment or Multicurrency Revolving Commitment shall occur simultaneously with a voluntary prepayment, pursuant to Section 4.3 to the extent necessary such that the Total Dollar Revolving Commitment or Total Multicurrency Revolving Commitment, as applicable, shall not be reduced below (1) the aggregate principal amount of outstanding Dollar Revolving Loans plus the aggregate amount of outstanding Dollar LC Obligations in the case of the Dollar Revolving Commitment or (2) the Effective Amount of the aggregate principal amount of outstanding Multicurrency Revolving Loans plus the aggregate Effective Amount of Multicurrency LC Obligations and Overdraft Amounts, in the case of Multicurrency Revolving Commitments.

Voluntary Reduction of Commitments. Upon at least three (3) two Business Days’ prior written notice (or telephonic notice confirmed in writing) (which notice may be conditioned upon the happening of a future event) to Administrative Agent at the Notice Address Office (which notice Administrative Agent shall promptly transmit to each LenderLender in writing), Borrowers’ Agent Company shall have the right, without premium or penalty, to terminate the unutilized portion of the Dollar Multicurrency Revolving Commitments or the Multicurrency Revolving Commitment Swing Line Commitment, as the case may be, in part or in whole, provided that that: (xi) any such voluntary termination of the Dollar Revolving Commitment or Multicurrency Revolving Commitment Commitments shall apply to proportionately and permanently reduce the Dollar Revolving Commitment or Multicurrency Revolving Commitment of each Dollar Revolving Lender or Multicurrency Revolving Lender, as the case may be, ; (yii) any partial voluntary reduction pursuant to this Section 4.1 shall be in the amount of at least $5,000,000 10,000,000 and integral multiples of $1,000,000 5,000,000 in excess of that amount and in the relevant currency of the applicable Facility; and (ziii) any such voluntary termination of the Dollar Revolving Commitment or Multicurrency Revolving Commitments or Swing Line Commitment shall occur simultaneously with a voluntary prepayment, pursuant to Section 4.3 to the extent necessary such that (A) the Total Dollar Revolving Commitment or Total Multicurrency Revolving Commitment, as applicable, shall not be reduced below (1) the aggregate principal amount of outstanding Dollar Revolving Loans plus the aggregate amount of outstanding Dollar LC Obligations in the case of the Dollar Revolving Commitment or (2) the Effective Amount of the aggregate principal amount of outstanding Multicurrency Revolving Loans plus the aggregate Effective Amount of Multicurrency LC Obligations and Overdraft Amountsthe Swing Line Commitment and (B) the Swing Line Commitment shall not be reduced below the aggregate principal amount of outstanding Swing Line Loans. Each notice of commitment reductions shall be irrevocable; provided that such notice may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, in the case of Multicurrency Revolving Commitmentssale or other transaction.

Voluntary Reduction of Commitments. Upon at least three (3) Business Days’ ' prior written telephonic notice (or telephonic notice promptly confirmed in writing) (which notice may be conditioned upon to the happening of a future event) to Administrative Agent at Agent, the Notice Address (which notice Administrative Agent shall promptly transmit to each Lender), Borrowers’ Agent Borrower shall have the right, without premium or penalty, to terminate the unutilized portion of the Dollar Revolving Commitments or the Multicurrency Revolving Loan Commitment Amount, in part or in whole, provided provided, that (xi) any such voluntary termination of the Dollar Revolving Commitment or Multicurrency Revolving Commitment shall apply to proportionately and permanently reduce the Dollar Revolving Commitment or Multicurrency Revolving Commitment Loan Commitments of each Dollar Revolving Lender or Multicurrency Revolving Lenderof the Lenders, as the case may be, and (yii) any partial voluntary reduction termination pursuant to this Section 4.1 2.03 shall be in the an amount of at least $5,000,000 and integral multiples of $1,000,000 1,000,000. Any optional or mandatory reduction of the Revolving Loan Commitment Amount pursuant to the terms of this Agreement which reduces the Revolving Loan Commitment Amount below the sum of (i) the Swingline Commitment Amount and (ii) the Letter of Credit Commitment Amount shall result in an automatic and corresponding reduction of the Swingline Commitment Amount and/or Letter of Credit Commitment Amount (as directed by the Borrower in a notice to the Administrative Agent delivered together with the notice of such voluntary reduction in the Revolving Loan Commitment Amount) to an aggregate amount not in excess of that amount and (z) the Revolving Loan Commitment Amount, as so reduced, without any such voluntary termination further action on the part of the Dollar Revolving Commitment Swingline Lender or Multicurrency Revolving Commitment shall occur simultaneously with a voluntary prepayment, pursuant to Section 4.3 to the extent necessary such that the Total Dollar Revolving Commitment or Total Multicurrency Revolving Commitment, as applicable, shall not be reduced below (1) the aggregate principal amount of outstanding Dollar Revolving Loans plus the aggregate amount of outstanding Dollar LC Obligations in the case of the Dollar Revolving Commitment or (2) the Effective Amount of the aggregate principal amount of outstanding Multicurrency Revolving Loans plus the aggregate Effective Amount of Multicurrency LC Obligations and Overdraft Amounts, in the case of Multicurrency Revolving Commitmentsany Issuer.

Voluntary Reduction of Commitments. Upon at least three (3) 2 Business Days’ prior written notice (or telephonic notice confirmed in writing) (which notice may be conditioned upon to the happening of a future event) to Administrative Agent at the Notice Address (which notice the Administrative Agent shall promptly transmit to each LenderLender in writing), Borrowers’ Agent Company shall have the right, without premium or penalty, to terminate the unutilized portion of the Dollar any Revolving Commitments Commitments, or the Multicurrency Revolving Commitment any Swing Line Commitment, in each case in part or in whole, ; provided that that: (xi) any such voluntary termination of the Dollar any Revolving Commitment or Multicurrency Commitments in respect of any Revolving Commitment Facility shall apply to proportionately and permanently reduce the Dollar such Revolving Commitment or Multicurrency Revolving Commitment Commitments of each Dollar Revolving Lender or Multicurrency under such Revolving Lender, as the case may be, Facility; ​ ​ (yii) any partial voluntary reduction pursuant to this Section 4.1 shall be in the amount of at least $5,000,000 10,000,000 and integral multiples of $1,000,000 5,000,000 in excess of that amount and in the relevant currency of the applicable Facility; and (ziii) any such voluntary termination of the Dollar Revolving Commitments in respect of any Revolving Facility or Swing Line Commitment or Multicurrency in respect of any Revolving Commitment Facility shall occur simultaneously with a voluntary prepayment, prepayment pursuant to Section 4.3 to the extent necessary such that (A) the Total Dollar aggregate Revolving Commitment or Total Multicurrency Commitments under such Revolving Commitment, as applicable, Facility shall not be reduced below (1) the aggregate principal amount of outstanding Dollar Revolving Loans plus the aggregate amount of outstanding Dollar LC Obligations in the case of the Dollar Revolving Commitment or (2) the Effective Amount of the aggregate principal amount of outstanding Multicurrency Revolving Loans under such Revolving Facility after giving effect to such voluntary prepayment plus the aggregate Effective Amount of Multicurrency LC Obligations under such Revolving Facility and Overdraft Amountsthe aggregate Effective Amount of Swing Line Loans under such Revolving Facility, in (B) the case Multicurrency Swing Line Commitment shall not be reduced below the aggregate Effective Amount of outstanding Multicurrency Revolving CommitmentsSwing Line Loans, and (C) the USD Swing Line Commitment shall not be reduced below the aggregate Effective Amount of outstanding USD Swing Line Loans. Each notice of commitment reductions shall be irrevocable; provided that such notice may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale, acquisition, or other transaction or event.

Voluntary Reduction of Commitments. Upon at least three (3) Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the happening of a future event) to Administrative Agent at the Notice Address (which notice Administrative Agent shall promptly transmit to each Lenderof the Banks), Borrowers’ Agent the Borrower shall have the right, without premium or penalty, to terminate or partially reduce the unutilized portion of the Dollar Total Unutilized Revolving Commitments or the Multicurrency Revolving Commitment in part or in whole, Loan Commitment; provided that (xw) any such voluntary termination of the Dollar Revolving Commitment or Multicurrency Revolving Commitment partial reduction shall apply to proportionately and permanently reduce the Dollar Revolving Commitment or Multicurrency Revolving Loan Commitment of each Dollar of the Banks with a Revolving Lender or Multicurrency Revolving Lender, as the case may beLoan Commitment, (yx) any partial voluntary reduction pursuant to this Section 4.1 3.02 shall be in the amount of at least $5,000,000 and integral multiples of $1,000,000 in excess of that amount and 2,000,000, (zy) any such voluntary termination of the Dollar reduction to the Total Unutilized Revolving Commitment or Multicurrency Revolving Loan Commitment shall occur simultaneously with a voluntary prepayment, pursuant in no case be in an amount which would cause the Revolving Loan Commitment of any Bank to Section 4.3 to the extent necessary such that the Total Dollar Revolving Commitment or Total Multicurrency Revolving Commitment, as applicable, shall not be reduced below (1as required by the preceding clause (w)) by an amount which exceeds the remainder of (i) the aggregate principal amount Aggregate Unutilized Revolving Loan Commitment of outstanding Dollar Revolving Loans plus the aggregate amount of outstanding Dollar LC Obligations such Bank as in the case of the Dollar Revolving Commitment or effect immediately before giving effect to such reduction minus (2ii) the Effective Amount such Bank’s Adjusted Percentage of the aggregate principal amount of Swingline Loans then outstanding Multicurrency and (z) each reduction to the Total Revolving Loans plus Loan Commitment pursuant to this Section 3.02 shall reduce the aggregate Effective Amount then remaining Scheduled Revolving Loan Commitment Reductions on a pro rata basis (based upon the then remaining principal amount of Multicurrency LC Obligations and Overdraft Amounts, in the case of Multicurrency each such Scheduled Revolving CommitmentsLoan Commitment Reduction).

Voluntary Reduction of Commitments. Upon at least three (3) Business Days’ ' prior written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice may be conditioned upon the happening of a future event) to Administrative Agent at the Notice Address (which notice Administrative Agent shall promptly transmit to each Lenderof the Lenders), the Company (on behalf of all Borrowers’ Agent ) shall have the right, without premium or penalty, to terminate the unutilized portion of the Dollar Revolving Commitments or the Multicurrency Revolving Commitment in part or in whole, provided that to partially and permanently reduce (x) the Unutilized Total General Revolving Commitment, and/or (y) the Unutilized Total Swing Line Revolving Commitment, PROVIDED that (i) any such voluntary termination of the Dollar Revolving Commitment or Multicurrency Revolving Commitment reduction shall apply to proportionately and permanently reduce the Dollar General Revolving Commitment or Multicurrency Swing Line Revolving Commitment of each Dollar Revolving Lender or Multicurrency Revolving LenderCommitment, as the case may be, if any, of each of the affected Lenders, (yii) in the case of any such reduction of the Unutilized Total General Revolving Commitment, the maximum aggregate amount of Borrowings by Foreign Borrowing Subsidiaries and the maximum aggregate amount of Borrowings denominated in any Alternative Currency, as specified in section 2.1(a), shall each be reduced in the same proportion as such reduction of the Unutilized Total General Revolving Commitment, (iii) any partial voluntary reduction of the Unutilized Total General Revolving Commitment pursuant to this Section 4.1 section 4.2 shall be in the amount of at least $5,000,000 and 3,000,000 (or, if greater, in integral multiples of $1,000,000 in excess of that amount 1,000,000), and (ziv) any such voluntary termination partial reduction of the Dollar Unutilized Total Swing Line Revolving Commitment or Multicurrency Revolving Commitment shall occur simultaneously with a voluntary prepayment, pursuant to Section 4.3 to this section 4.2 shall be in the extent necessary such that the Total Dollar Revolving Commitment or Total Multicurrency Revolving Commitment, as applicable, shall not be reduced below (1) the aggregate principal amount of outstanding Dollar Revolving Loans plus the aggregate amount of outstanding Dollar LC Obligations in the case of the Dollar Revolving Commitment or at least $500,000 (2) the Effective Amount of the aggregate principal amount of outstanding Multicurrency Revolving Loans plus the aggregate Effective Amount of Multicurrency LC Obligations and Overdraft Amountsor, if greater, in the case integral multiples of Multicurrency Revolving Commitments$100,000).

Voluntary Reduction of Commitments. Upon at least three (3) two Business Days’ prior written notice (or telephonic notice confirmed in writing) (which notice may be conditioned upon the happening of a future event) to Administrative Agent at the Notice Address Office (which notice Administrative Agent shall promptly transmit to each Lender), Borrowers’ Agent Company shall have the right, without premium or penalty, to terminate the unutilized portion of the Dollar Multicurrency Revolving Commitments or the Multicurrency Revolving Commitment Swing Line Commitments, as the case may be, in part or in whole, provided that that, (x) any such voluntary termination of the Dollar Revolving Commitment or Multicurrency Revolving Commitment Commitments or Swing Line Commitments shall apply to proportionately and permanently reduce the Dollar Revolving Commitment or Multicurrency Revolving Commitment of each Dollar Revolving Lender or Multicurrency Revolving Lender, as the case may be, (y) any partial voluntary reduction pursuant to this Section 4.1 shall be in the amount of at least $5,000,000 10,000,000 and integral multiples of $1,000,000 in excess of that amount and (z) any such voluntary termination of the Dollar Revolving Commitment or Multicurrency Revolving Commitment Commitments or Swing Line Commitments shall occur simultaneously with a voluntary prepayment, pursuant to Section 4.3 to the extent necessary such that (i) the Total Dollar Revolving Commitment or Total Multicurrency Revolving Commitment, as applicable, Commitment shall not be reduced below (1) the aggregate principal amount of outstanding Dollar Revolving Loans plus the aggregate amount of outstanding Dollar LC Obligations in the case of the Dollar Revolving Commitment or (2) the Effective Amount of the aggregate principal amount of outstanding Multicurrency Revolving Loans plus the aggregate Effective Amount of Multicurrency LC Obligations and Overdraft Amounts, in the case Swing Line Commitments and (ii) the Swing Line Commitments shall not be reduced below the aggregate principal amount of Multicurrency Revolving Commitmentsoutstanding Swing Line Loans.