Common use of Optional Termination of Commitment Clause in Contracts

Optional Termination of Commitment. Following the occurrence of a Change in Control, the Requisite Lenders may in their sole and absolute discretion elect, during the sixty day period immediately subsequent to the LATER OF (a) such occurrence and (b) the EARLIER of (i) receipt of Borrowers' written notice to the Administrative Agent of such occurrence and (ii) if no such notice has been received by the Administrative Agent, the date upon which the Administrative Agent and the Lenders have actual knowledge thereof, to terminate the Commitment. In any such case the Commitment shall be terminated effective on the date which is sixty days subsequent to the date of written notice from the Administrative Agent to Borrowers thereof, and to the extent that there are then any Obligations outstanding, the same shall be immediately due and payable.

Optional Termination of Commitment. Following the occurrence of a Change in Control, the Requisite Lenders may in their sole and absolute discretion elect, during the sixty thirty day period immediately subsequent to the LATER OF (a) such occurrence and or (b) the EARLIER of (i) receipt of Borrowers' written notice to the Administrative Agent of such occurrence and the Change in Control from Borrower, or (ii) if no such notice has been received by the Administrative Agent, the date upon which the Administrative Agent and the Lenders have has actual knowledge thereof, to terminate the Commitment. In any such , in which case the Commitment shall be terminated effective on the date which is sixty thirty days subsequent to the date of written notice from the Administrative Agent to Borrowers Borrower thereof, and to the extent that there are then any Obligations outstanding, the same shall be immediately due and payable.

Optional Termination of Commitment. Following the occurrence of a Change in Control, the Requisite Lenders may in their sole and absolute discretion elect, during the sixty day period immediately subsequent to the LATER OF later of (a) such occurrence and (b) the EARLIER earlier of (i) receipt of Borrowers' written notice to the Administrative Agent of such occurrence and (ii) if no such notice has been received by the Administrative Agent, the date upon which the Administrative Agent and the Lenders have actual knowledge thereof, to terminate the Commitment. In any such case the Commitment shall be terminated effective on the date which is sixty days subsequent to the date of written notice from the Administrative Agent to Borrowers thereof, and to the extent that there are then any Obligations outstanding, the same shall be immediately due and payable.