Common use of Commitment Terminations Clause in Contracts

Commitment Terminations. The Borrower shall have the right at any time and from time to time, upon five (5) Business Days' prior and irrevocable written notice to the Agent, to terminate or reduce the Commitments or L/C Commitments without premium or penalty, in whole or in part, any partial termination to be (a) in an amount not less than $1,000,000 and in integral multiples of $500,000 as determined by the Borrower, and (b) allocated ratably among the Lenders in proportion to their respective Commitments and L/C Commitments, as applicable; provided that the Commitment Amount may not be reduced to an amount less than the sum of the aggregate principal amount of outstanding Loans plus the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, and the L/C Commitment Amount may not be reduced to an amount less than the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, in each case after giving effect to payments on such proposed termination or reduction date, unless the Borrower provides to the Agent cash collateral in an amount sufficient to cover such shortage or back to back letters of credit from a bank(s) or financial institution(s) satisfactory to the Majority Lenders in an amount equal to the undrawn face amount of any outstanding Letters of Credit with an expiration date of at least five (5) days after the expiration date of any Letter of Credit and which provide that the Agent may make a drawing thereunder in the event that it pays a drawing under such Letter of Credit. The Agent shall give prompt notice to each Lender of any such termination of Commitments. Any termination of Commitments or L/C Commitments pursuant to this Section 2.13 is permanent and may not be reinstated.

Commitment Terminations. The Borrower shall have the right at ----------------------- any time and from time to time, upon five three (53) Business Days' prior and irrevocable written notice to the Administrative Agent, to terminate or reduce the Commitments or L/C Commitments without premium or penalty, in whole or in part, any partial termination reduction (i) to be (a) in an amount not less than $1,000,000 5,000,000 as determined by the Borrower and in integral multiples of $500,000 as determined by the Borrower5,000,000, and (bii) to be allocated ratably among the Lenders in proportion to their respective Commitments and L/C Commitments; provided, as applicable; provided that the Revolving Credit Commitment Amount may not be reduced to an amount less than the sum of the aggregate principal amount of outstanding Loans plus the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement ObligationsRevolving Loans, Competitive Loans, and the L/C Commitment Amount may not be reduced to an amount less than the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, in each case after giving effect to payments on such proposed termination or reduction date; provided, unless however, that ----------------- to the extent the Borrower provides to the Administrative Agent cash collateral in an amount sufficient to cover such shortage or back to back-to-back letters of credit from a bank(s) or financial institution(s) whose short-term unsecured debt rating is rated A or above from either S&P or Moody's or such other bank(s) or financial institution(s) satisfactory to the Majority ▇▇ ▇▇▇ Required Lenders in an amount equal to the undrawn face amount of any applicable outstanding Letters of Credit with an expiration date of at least five (5) days after the expiration date of any applicable Letter of Credit and which provide that the Administrative Agent may make a drawing thereunder in the event that it pays a drawing under such Letter of Credit. The Administrative Agent shall give prompt notice to each Lender of any such termination or reduction of the Commitments. Any termination of Commitments or L/C Commitments pursuant to this Section 2.13 2.15 is permanent and may not be reinstated.

Commitment Terminations. The Borrower shall have the right at any time and from time to time, upon five three (53) Business Days' ’ prior and irrevocable written notice to the Administrative Agent, to terminate or reduce the Commitments or L/C Commitments without premium or penalty, in whole or in part, with any partial termination reduction (i) to be (a) in an amount not less than $1,000,000 5,000,000 as determined by the Borrower and in integral multiples of $500,000 as determined by the Borrower, 5,000,000 and (bii) as to the Commitments to be allocated ratably among the Lenders in proportion to their respective Commitments and L/C Commitments; provided, as applicable; provided that the Revolving Credit Commitment Amount may not be reduced to an amount less than the sum of the aggregate principal amount of outstanding Loans plus the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, and the L/C Commitment Amount may not be reduced to an amount less than the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, after converting, if necessary, any such outstanding Obligations to their Dollar Equivalent amounts in each case accordance with Section 10.19 and after giving effect to payments on such proposed termination or reduction date, unless except, in the case of L/C Obligations, to the extent the Borrower provides Cash Collateralizes such L/C Obligations or furnishes to the Agent cash collateral in an amount sufficient to cover such shortage or back to back applicable Issuing Bank(s) “back-to-back” letters of credit from a bank(s) or financial institution(s) whose short-term unsecured debt rating is rated A or above from either S&P or ▇▇▇▇▇’▇ or such other bank(s) or financial institution(s) satisfactory to the Majority Required Lenders in an amount equal to the undrawn face amount of any applicable outstanding Letters of Credit with an expiration date of at least five (5) days after the expiration date of any applicable Letter of Credit and which provide that the Agent such Issuing Bank may make a drawing thereunder under such “back-to-back” letter of credit in the event that it pays a drawing under such Letter of Credit. The Administrative Agent shall give prompt notice to each Lender of any such termination or reduction of the Commitments. Any termination of Commitments or L/C Commitments pursuant to this Section 2.13 is permanent and may not be reinstated.

Commitment Terminations. The Borrower shall have the right at any time and from time to time, upon five three (53) Business Days' ’ prior and irrevocable written notice to the Administrative Agent, to terminate or reduce the Commitments or L/C Commitments without premium or penalty, in whole or in part, with any partial termination reduction (i) to be (a) in an amount not less than $1,000,000 5,000,000 as determined by the Borrower and in integral multiples of $500,000 as determined by the Borrower, 5,000,000 and (bii) as to the Commitments to be allocated ratably among the Lenders in proportion to their respective Commitments and L/C Commitments; provided, as applicable; provided that the Revolving Credit Commitment Amount may not be reduced to an amount less than the sum of the aggregate principal amount of outstanding Loans plus the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, and the L/C Commitment Amount may not be reduced to an amount less than the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, after converting, if necessary, any such outstanding Obligations to their Dollar Equivalent amounts in each case accordance with Section 10.19 and after giving effect to payments on such proposed termination or reduction date, unless except, in the case of L/C Obligations, to the extent the Borrower provides Cash Collateralizes such L/C Obligations or furnishes to the Agent cash collateral in an amount sufficient to cover such shortage or back to back applicable Issuing Bank(s) “back-to-back” letters of credit from a bank(s) or financial institution(s) whose short-term unsecured debt rating is rated A or above from either S&P or M▇▇▇▇’▇ or such other bank(s) or financial institution(s) satisfactory to the Majority Required Lenders in an amount equal to the undrawn face amount of any applicable outstanding Letters of Credit with an expiration date of at least five (5) days after the expiration date of any applicable Letter of Credit and which provide that the Agent such Issuing Bank may make a drawing thereunder under such “back-to-back” letter of credit in the event that it pays a drawing under such Letter of Credit. The Administrative Agent shall give prompt notice to each Lender of any such termination or reduction of the Commitments. Any termination of Commitments or L/C Commitments pursuant to this Section 2.13 is permanent and may not be reinstated.

Commitment Terminations. The Borrower shall have the right ----------------------- at any time and from time to time, upon five three (53) Business Days' prior and irrevocable written notice to the Administrative Agent, to terminate or reduce the Commitments or L/C Commitments without premium or penalty, in whole or in part, any partial termination reduction (i) to be (a) in an amount not less than $1,000,000 5,000,000 as determined by the Borrower and in integral multiples of $500,000 as determined by the Borrower5,000,000, and (bii) to be allocated ratably among the Lenders in proportion to their respective Commitments and L/C Commitments; provided, as applicable; provided that the Revolving Credit Commitment Amount may not be reduced to an amount less than the sum of the aggregate principal amount of outstanding Loans plus the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement ObligationsRevolving Loans, Competitive Loans, and the L/C Commitment Amount may not be reduced to an amount less than the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, in each case after giving effect to payments on such proposed termination or reduction date; provided, unless however, that to the extent -------- ------- the Borrower provides to the Administrative Agent cash collateral in an amount sufficient to cover such shortage or back to back letters of credit from a bank(s) or financial institution(s) whose short-term unsecured debt rating is rated A or above from either S&P or ▇▇▇▇▇'▇ or such other bank(s) or financial institution(s) satisfactory to the Majority Required Lenders in an amount equal to the undrawn face amount of any applicable outstanding Letters of Credit with an expiration date of at least five (5) days after the expiration date of any applicable Letter of Credit and which provide that the Administrative Agent may make a drawing thereunder in the event that it pays a drawing under such Letter of Credit. The Administrative Agent shall give prompt notice to each Lender of any such termination or reduction of the Commitments. Any termination of Commitments or L/C Commitments pursuant to this Section 2.13 2.14 is permanent and may not be reinstated.

Commitment Terminations. The Borrower shall have the ------------------------ right at any time and from time to time, upon five three (53) Business Days' prior and irrevocable written notice to the Administrative Agent, to terminate or reduce the Commitments or L/C Commitments without premium or penalty, in whole or in part, with any partial termination reduction (i) to be (a) in an amount not less than $1,000,000 5,000,000 as determined by the Borrower and in integral multiples of $500,000 as determined by the Borrower, 5,000,000 and (bii) as to the Commitments to be allocated ratably among the Lenders in proportion to their respective Commitments and L/C CommitmentsCommitments;provided, as applicable; provided that the Revolving Credit Commitment Amount may not be reduced to an amount less than the sum of the aggregate principal amount of outstanding Revolving Loans plus the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, and the L/C Commitment Amount may not be reduced to an amount less than the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, after converting, if necessary, any such outstanding Obligations to their Dollar Equivalent amounts in each case accordance with Section 10.19 and after giving effect to payments on such proposed termination or reduction date; provided, unless however, that to the extent -------- ------- the Borrower provides to the Administrative Agent cash collateral in an amount sufficient to cover such shortage or back to back letters of credit from a bank(s) or financial institution(s) satisfactory whose short-term unsecured debt rating is rated A or above from either S&P or Moody's or such other bank(s) or financial institution(s) ▇▇▇▇▇▇▇ctory to the Majority Required Lenders in an amount equal to the undrawn face amount of any applicable outstanding Letters of Credit with an expiration date of at least five (5) days after the expiration date of any applicable Letter of Credit and which provide that the Administrative Agent may make a drawing thereunder in the event that it pays a drawing under such Letter of Credit. The Administrative Agent shall give prompt notice to each Lender of any such termination or reduction of the Commitments. Any termination of Commitments or L/C Commitments pursuant to this Section 2.13 is permanent and may not be reinstated.

Commitment Terminations. The Borrower shall have the ------------------------ right at any time and from time to time, upon five three (53) Business Days' prior and irrevocable written notice to the Administrative Agent, to terminate or reduce the Commitments or L/C Commitments without premium or penalty, in whole or in part, any partial termination reduction (i) to be (a) in an amount not less than $1,000,000 5,000,000 as determined by the Borrower and in integral multiples of $500,000 as determined by the Borrower5,000,000, and (bii) to be allocated ratably among the Lenders in proportion to their respective Commitments and L/C CommitmentsCommitments;provided, as applicable; provided that the Revolving Credit Commitment Amount may not be reduced to an amount less than the sum of the aggregate principal amount of outstanding Loans plus the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement ObligationsRevolving Loans, Competitive Loans, and the L/C Commitment Amount may not be reduced to an amount less than the aggregate undrawn face amount of outstanding Letters of Credit plus any unpaid Reimbursement Obligations, in each case after giving effect to payments on such proposed termination or reduction date; provided, unless however, that to the extent the Borrower provides to the Administrative Agent cash collateral in an amount sufficient to cover such shortage or back to back-to-back letters of credit from a bank(s) or financial institution(s) whose short-term unsecured debt rating is rated A or above from either S&P or ▇▇▇▇▇'▇ or such other bank(s) or financial institution(s) satisfactory to the Majority Required Lenders in an amount equal to the undrawn face amount of any applicable outstanding Letters of Credit with an expiration date of at least five (5) days after the expiration date of any applicable Letter of Credit and which provide that the Administrative Agent may make a drawing thereunder in the event that it pays a drawing under such Letter of Credit. The Administrative Agent shall give prompt notice to each Lender of any such termination or reduction of the Commitments. Any termination of Commitments or L/C Commitments pursuant to this Section 2.13 2.15 is permanent and may not be reinstated.