Commitment Reduction. The Borrowers shall have the right, upon at least two Business Days’ notice to the Administrative Agent, to terminate in whole or, upon same day notice, from time to time to permanently reduce ratably in part the unused portion of the Commitments; provided that each partial reduction shall be in the aggregate amount of $5,000,000 or in an integral multiple of $1,000,000 in excess thereof; provided, further, that the Commitments may not be reduced to an amount that is less than the aggregate Stated Amount of outstanding Letters of Credit. Subject to the foregoing, any reduction of the Commitments to an amount below $200,000,000 shall also result in a reduction of the L/C Commitment Amount to the extent of such deficit (with automatic reductions in the amount of each L/C Fronting Bank Commitment ratably in proportion to the amount of such reduction of the L/C Commitment Amount). Each such notice of termination or reduction shall be irrevocable; provided, further, that, if, after giving effect to any reduction of the Commitments, any Borrower Sublimit exceeds the amount of the aggregate Commitments, such sublimit shall be automatically reduced by the amount of such excess. Without limiting subsection (b) below, any Commitment reduced or terminated pursuant to this subsection (a) may not be reinstated.
Commitment Reduction. On the date of reduction of the Commitment pursuant to Section 2.6 hereof, including the Maturity Date, the aggregate amount of the Advances outstanding on such date of reduction in excess of the Commitment as reduced minus all outstanding Reimbursement Obligations shall be due and payable, which principal payment may not be made by means of Refinancing Advances.
Commitment Reduction. The Borrowers shall have the right, exercisable at any time and from time to time, upon two (2) Business Days written notice to the Agent (or telephonic notice promptly confirmed in writing), to terminate in whole or reduce in part the Commitments; provided that each partial reduction of the Commitments shall be in an amount of US$10,000,000 or integral multiples of US$1,000,000 in excess thereof and applied to reduce the Commitments of the Lenders ratably in accordance with their respective Commitments; and provided further that the Commitments may not be reduced to any amount less than the aggregate principal amount (without duplication) of all Loans and L/C Obligations Outstanding at the time of any such reduction.
Commitment Reduction. At the option of Lessee, exercisable from time to time by written notice to Certificate Trustee and Administrative Agent, Lessee may request Administrative Agent to reduce the aggregate unused portion of the Participants' respective Commitments, whereupon Administrative Agent shall notify the Participants of such request, and the Commitment of each Participant shall thereby be so reduced, subject to the following provisions:
Commitment Reduction. On the date of a reduction of the Commitment pursuant to Section 2.11 hereof, the aggregate amount of outstanding Revolving Advances in excess of such Commitment as reduced shall be immediately due and payable (which such principal repayments may not be made by means of Refinancing Advances).
Commitment Reduction. Pursuant to Section 2.12 of the Credit Agreement, the Borrower is irrevocably reducing the Revolving Credit Commitments to $80,000,000 as of the Fourth Amendment Effective Date.
Commitment Reduction. At the Borrowers' option and upon at least five Business Days' prior irrevocable written notice to the Agent, with such notice specifying the amount and the date of such reduction, the Borrowers may permanently reduce the Aggregate Commitment in whole at any time or in part from time to time; provided, however, that each partial reduction of the Aggregate Commitment shall be in an aggregate amount equal to at least $5,000,000 or an integral multiple of $1,000,000. The Agent shall promptly notify each Lender (by telecopy or by telephone) of such requested Commitment reduction. Any mandatory or optional prepayments pursuant to Sections 2.26 and 2.28 shall not, without further direction from the Borrowers, result in any permanent reduction of the Commitments. Reductions of the Aggregate Commitment pursuant to this Section 2.8 shall automatically effect a reduction of the Commitment of each Lender to an amount equal to the product of (i) the Aggregate Commitment of all Lenders, as reduced pursuant to this Section 2.8 and (ii) the Commitment Percentage of such Lender, in each case determined immediately prior to such reduction of the Aggregate Commitment on such date. Any such Commitment reduction shall be applied as the Borrowers direct, but in the absence of any such direction, all sublimits for Loans to Pacific Germany, Letters of Credit and Swingline Loans shall be ratably reduced. Upon each reduction of the Aggregate Commitment, the Borrowers shall (i) pay the unused commitment fee, payable pursuant to Section 2.11, accrued on the amount of the Aggregate Commitment so reduced through the date of such reduction, (ii) prepay the amount, if any, by which the sum of (a) the aggregate unpaid principal amount of the Loans, (b) the aggregate Letter of Credit Amount of all Letters of Credit outstanding and (c) the aggregate amount of unreimbursed drawings under all Letters of Credit exceeds the amount of the Aggregate Commitment as so reduced, together with accrued interest on the amount being prepaid to the date of such prepayment (or, with respect to outstanding Letters of Credit, make a cash collateral deposit in an amount equal to such excess to the extent such excess is not corrected by the foregoing prepayment), (d) prepay the amount by which the Loans outstanding to any Lender exceeds its Commitment Percentage as so reduced and (e) compensate the Lenders for their funding costs, if any, in accordance with Section 3.1(i).
Commitment Reduction. Pursuant to Section 2.12 of the Credit Agreement, the Borrower is irrevocably reducing the Revolving Credit Commitments by $11,000,000 as of the Seventh Amendment Effective Date. The Administrative Agent and Lenders acknowledge and agree that this reduction shall satisfy the Revolving Credit Commitment reduction requirements of Section 2.12(iv) of the Credit Agreement.
Commitment Reduction. The last sentence of Section 2.7(c) of the Credit Agreement is hereby amended to state in its entirety as follows: "Once all of the Term Loans have been paid in full, any prepayment pursuant to this Section 2.7 shall be applied to the Revolving Loans; and the Revolving Loan Commitments shall be correspondingly reduced, except that no reduction of the Revolving Loan Commitments shall result from the issuance of the Senior Unsecured Notes."
Commitment Reduction. Upon at least three (3)Business Days prior written notice to Bank, Borrower may permanently reduce the Commitment Amount, in whole or part provided that:
