Common use of Voluntary Termination of the Total Revolving Commitment Clause in Contracts

Voluntary Termination of the Total Revolving Commitment. Upon at least three Business Days’ prior irrevocable written notice (or telephonic notice confirmed in writing) to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrowers shall have the right to terminate in whole the Total Revolving Commitment, provided that (i) all outstanding Revolving Loans and Unpaid Drawings are contemporaneously prepaid in accordance with Section 2.13, (ii) either there are no outstanding Letters of Credit or the Borrowers shall contemporaneously cause all outstanding Letters of Credit to be surrendered for cancellation (any such Letters of Credit to be replaced by letters of credit issued by other financial institutions acceptable to each LC Issuer and the Revolving Lenders) or shall Cash Collateralize all LC Outstandings and (iii) a notice delivered to the Administrative Agent pursuant to this Section 2.12(c) may state that such notice is conditioned upon the effectiveness of other credit facilities or debt or equity issuances, in which case such notice may be revoked by the Borrowers (by written notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Voluntary Termination of the Total Revolving Commitment. Upon at least three Business Days’ prior irrevocable (except as provided below) written notice (or telephonic notice confirmed in writing) by the Borrower to the Administrative Agent at its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrowers Borrower shall have the right to terminate in whole the Total Revolving Commitment, ; provided that (i) all outstanding Revolving Loans and Unpaid Unreimbursed Drawings are contemporaneously prepaid in accordance with Section 2.13, 2.13 and (ii) either (A) there are no outstanding Letters of Credit or Credit, (B) the Borrowers Borrower shall contemporaneously cause all outstanding Letters of Credit to be surrendered for cancellation cancellation, or (any C) the Borrower shall have made other arrangements with respect to such Letters of Credit to be replaced by letters of credit issued by other financial institutions acceptable to each LC Issuer and the Revolving Lenders) or shall Cash Collateralize all LC Outstandings and (iii) a notice delivered satisfactory to the Administrative Agent pursuant to this Section 2.12(c) and LC Issuer; provided further that a notice of termination of the Total Revolving Commitment may state that such notice is conditioned upon on the effectiveness of other credit facilities or debt or equity issuancesfacilities, in which case such notice may be revoked by the Borrowers Borrower (by written notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.