Common use of Voluntary Terminations Clause in Contracts

Voluntary Terminations. The Company (which is acting on behalf of the Borrowers pursuant to Section 1.7 hereof) shall have the privilege upon two (2) Business Days' prior notice from the Company (which need not be joined in by any other Borrower) to the Administrative Agent (which shall promptly notify the Lenders) to ratably terminate the Revolving Credit Commitments in whole or in part (but if in part then in the amount of $1,000,000 or such greater amount which is an integral multiple of $100,000); PROVIDED that the Revolving Credit Commitments may not be reduced to an amount less then the sum of the Revolving Loans and Letters of Credit then outstanding. All partial terminations of the Revolving Credit Commitments hereunder shall automatically reduce the L/C Commitment hereof in each case as from time to time in effect hereunder, by the same percentage as the percentage termination in the Revolving Credit Commitments. Not later than the termination date stated in such notice, there shall be made such payments to the Administrative Agent as may be necessary to reduce the sum of the aggregate outstanding Revolving Loans and Letters of Credit to the amount to which the Revolving Credit Commitments have been reduced, together with in the case of a termination in whole, all interest, fees and other amounts due on the Obligations. The foregoing to the contrary notwithstanding, (i) no termination of the Revolving Credit may be effected hereunder if as a result thereof the outstanding aggregate amount of Letters of Credit would exceed the L/C Commitment as reduced by such termination and (ii) the Revolving Credit Commitments may not be terminated below $100,000 except concurrently with their termination in whole. No termination of the Revolving Credit Commitments may be reinstated.

Voluntary Terminations. (a) The Company (which is acting on behalf of the Borrowers pursuant to Section 1.7 hereof) shall have the privilege without any penalty or fee upon two (2) five Business Days' ’ prior notice from the Company (which need not be joined in or such shorter period of time agreed to by any other Borrowerthe Administrative Agent) to the Administrative Agent (which shall promptly notify the Lenders) to ratably terminate the Revolving Credit Commitments Total Commitments, in whole or in part (but if in part then in the amount of $1,000,000 5,000,000 or such greater amount which is an integral multiple of $100,000), unless the Total Commitments shall be less than $5,000,000; PROVIDED provided that (i) the Revolving Credit U.S. Dollar Commitments may not be reduced to an amount less then than the sum of the all U.S. Revolving Loans Loans, Swing Loans, and Letters of Credit then outstanding. All partial terminations of the Revolving Credit Commitments hereunder shall automatically reduce the all L/C Commitment hereof in each case as from time to time in effect hereunderObligations then outstanding, by the same percentage as the percentage termination in the Revolving Credit Commitments. Not later than the termination date stated in such notice, there shall be made such payments to the Administrative Agent as may be necessary to reduce the sum of the aggregate outstanding Revolving Loans and Letters of Credit to the amount to which the Revolving Credit Commitments have been reduced, together with in the case of a termination in whole, all interest, fees and other amounts due on the Obligations. The foregoing to the contrary notwithstanding, (i) no termination of the Revolving Credit may be effected hereunder if as a result thereof the outstanding aggregate amount of Letters of Credit would exceed the L/C Commitment as reduced by such termination and (ii) the Revolving Credit Multicurrency Commitments may not be terminated below $100,000 except concurrently reduced to an amount less than the sum of all Multicurrency Revolving Loans then outstanding, unless in each case there is deposited with their termination the Agent cash collateral for such Revolving Loans, Swing Loans, and L/C Obligations in wholethe amount by which the same exceed the amount of the applicable Total Commitments. No Any termination of the U.S. Dollar Commitments or the Multicurrency Commitment below any Sublimit then in effect shall reduce such Sublimit, as applicable, by a like amount. (b) If a portion of the Total Commitments are terminated in accordance with Section 3.5(b) or this Section 3.6, the U.S. Dollar Commitment and the Multicurrency Commitment shall also terminate by an amount determined by multiplying the amount of the termination of the Total Commitments by the percentage of the U.S. Dollar Commitment or Multicurrency Commitment, as applicable, to the Total Commitments in effect immediately prior to such termination. The Agent shall give prompt notice to each Lender of any such termination of any Total Commitment. Any termination of the Total Commitments, U.S. Dollar Commitments or the Multicurrency Commitments shall be allocated ratably among the Lenders in proportion to their respective Percentages, U.S. Dollar Revolving Credit Commitments Percentage and Multicurrency Revolver Percentage, as the case may be reinstatedbe.