Common use of Optional Termination or Reduction of Commitment Clause in Contracts

Optional Termination or Reduction of Commitment. Upon at least three (3) Business Days’ prior written notice to the Applicable Agent (and the Administrative Agent if the Administrative Agent is not the Applicable Agent), (i) the U.S. Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the U.S. Tranche A Revolving Commitment, (ii) the U.S. Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the U.S. Tranche B Revolving Commitment and (iii) the Canadian Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Canadian Revolving Commitment. Each such reduction or termination, as applicable, of such Commitment shall be in the principal amount of US$1,000,000 or any integral multiple of US$1,000,000 in excess thereof. The U.S. Borrower shall not be permitted to terminate or reduce the U.S. Tranche A Revolving Commitment if, as a result of such termination or reduction, the aggregate principal amount of the U.S. Tranche A Revolving Loans would exceed the aggregate U.S. Tranche A Revolving Commitment. The U.S. Borrower shall not be permitted to terminate or reduce the U.S. Tranche B Revolving Commitment if, as a result of such termination or reduction, the U.S. Tranche B Revolving Credit Utilization would exceed the aggregate U.S. Tranche B Revolving Commitment. The Canadian Borrower shall not be permitted to terminate or reduce the Canadian Revolving Commitment if, as a result of such termination or reduction, the Canadian Revolving Credit Utilization would exceed the aggregate Canadian Revolving Commitment. Any reduction or termination, as applicable, pursuant to this Section shall be applied pro rata to reduce the applicable Revolving Commitment of each applicable Lender until such Revolving Commitment is zero. Simultaneously with each reduction or termination, as applicable, of any Revolving Commitment, the applicable Borrower shall pay to the Applicable Agent for the account of each applicable Lender the Commitment Fee accrued on the amount of the Revolving Commitment of such Lender so terminated or reduced to but excluding the date of such termination or reduction.

Optional Termination or Reduction of Commitment. Upon at least three (3) Business Days’ prior written notice to the Applicable Agent (and the Administrative Agent if the Administrative Agent is not the Applicable Agent), (i) the U.S. Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the U.S. Tranche A Revolving Commitment, (ii) the U.S. Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the U.S. Tranche B Revolving Commitment and (iiiii) the Canadian Borrower may at any time in whole permanently terminate, or from time to time in part permanently reduce, the Canadian Revolving Commitment. Each such reduction or termination, as applicable, of such Commitment shall be in the principal amount of US$1,000,000 or any integral multiple of US$1,000,000 in excess thereof. The U.S. Borrower shall not be permitted to terminate or reduce the U.S. Tranche A Revolving Commitment if, as a result of such termination or reduction, the aggregate principal amount of the U.S. Tranche A Revolving Loans would exceed the aggregate U.S. Tranche A Revolving Commitment. The U.S. Borrower shall not be permitted to terminate or reduce the U.S. Tranche B Revolving Commitment if, as a result of such termination or reduction, the U.S. Tranche B Revolving Credit Utilization would exceed the aggregate U.S. Tranche B Revolving Commitment. The Canadian Borrower shall not be permitted to terminate or reduce the Canadian Revolving Commitment if, as a result of such termination or reduction, the Canadian Revolving Credit Utilization would exceed the aggregate Canadian Revolving Commitment. Any reduction or termination, as applicable, pursuant to this Section shall be applied pro rata to reduce the applicable Revolving Commitment of each applicable Lender until such Revolving Commitment is zero. Simultaneously with each reduction or termination, as applicable, of any Revolving Commitment, the applicable Borrower shall pay to the Applicable Agent for the account of each applicable Lender the Commitment Fee accrued on the amount of the Revolving Commitment of such Lender so terminated or reduced to but excluding the date of such termination or reduction.