Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five (5) Business Days’ prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than One Million and No/100 Dollars ($1,000,000.00) or a higher integral multiple of One Hundred Thousand and No/100 Dollars ($100,000.00). Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Non-Use Fees and all letter of credit fees and shall Cash Collateralize in full all L/C Obligations.
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Sources: Credit Agreement (Titan International Inc), Credit Agreement (Titan International Inc)
Voluntary Reduction or Termination of the Revolving Commitment. The Company may from time to time on at least five (5) Business Days’ ' prior written notice received by the Administrative Agent (which shall promptly advise each Lender thereof) permanently reduce the Revolving Commitment to an amount not less than the Revolving Outstandings. Any such reduction shall be in an amount not less than One Million and No/100 Dollars ($1,000,000.00) or a higher integral multiple of One Hundred Thousand and No/100 Dollars ($100,000.00). Concurrently with any reduction of the Revolving Commitment to zero, the Company shall pay all interest on the Revolving Loans, all Nonnon-Use Fees use fees and all letter of credit fees and shall Cash Collateralize in full all L/C Obligationsobligations arising with respect to the Letters of Credit.
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