Common use of Voluntary Reductions of Commitments Clause in Contracts

Voluntary Reductions of Commitments. Borrowers may, upon not less than three Business Days' prior written or telephonic notice confirmed in writing to Agent and each Lender, at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Commitments in an amount up to the amount by which the Commitments exceed the Total Utilization at the time of such proposed termination or reduction; provided that any such partial reduction of the Commitments shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $500,000 in excess of that amount. Borrowers' notice to Agent and Lenders shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Commitments shall be effective on the date specified in Borrowers' notice and shall reduce the Commitment of each Lender proportionately to its Pro Rata Share.

Voluntary Reductions of Commitments. Borrowers The Borrower may, upon not less than three Business Days' prior written or telephonic notice confirmed in writing to the Agent and (which notice the Agent will promptly transmit by telegram, telex or telephone to each Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Commitments in an amount up to the amount by which the Commitments exceed the Total Utilization at the time of such proposed termination or reductionUtilization; provided PROVIDED, HOWEVER, that any such partial reduction of the Commitments shall be in an aggregate minimum amount of $1,000,000 500,000 and integral multiples of $500,000 100,000 in excess of that amount. Borrowers' The Borrower's notice to the Agent and Lenders shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Commitments shall be effective on the date specified in Borrowers' the Borrower's notice and shall reduce the Commitment of each Lender proportionately to in the same proportion as its Pro Rata Share.

Voluntary Reductions of Commitments. Borrowers Borrower may, upon not less than three Business Days' ’ prior written or telephonic notice confirmed in writing to Agent and (which written notice Agent will promptly transmit by facsimile transmission to each Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Commitments Commitments, in an amount up to the amount by which the Commitments exceed the Total Utilization Principal Balance, at the time of such proposed termination or reduction; provided that any such partial reduction of the Commitments shall be in an aggregate minimum amount of $1,000,000 250,000.00 and integral multiples of $500,000 100,000.00 in excess of that amount. Borrowers' Borrower’s notice to Agent and Lenders shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Commitments shall be effective on the date specified in Borrowers' Borrower’s notice and shall reduce the Commitment of each Lender proportionately to its Pro Rata Share.