Common use of Permanent Reduction of Commitment Clause in Contracts

Permanent Reduction of Commitment. At the Borrower's option the Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least $100,000 and to the extent in excess thereof in integral multiples of $50,000 at any time; provided that (i) the Borrower gives the Agent written notice of the exercise of such option at least one (1) Business Day's prior to the effective date thereof, (ii) the aggregate outstanding balance of the Loans, if any, does not exceed the Commitment as so reduced in any such case on the effective date of such reduction and (iii) the Borrower is not, and after giving effect to such reduction, would not be in violation of SECTION 2.6.3. Any such reduction shall concurrently reduce the Dollar amount of each Lender's Pro Rata Share of the Commitment.

Permanent Reduction of Commitment. (a) At the Borrower's option option, the Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least $100,000 and 5,000,000 and, to the extent in excess thereof thereof, in integral multiples of $50,000 1,000,000 at any time; , provided that (i) the Borrower gives the Agent written notice of the exercise of such option at least one five (15) Business Day's Days prior to the effective date thereof, (ii) the aggregate outstanding balance of the Loans, if any, does Credit Exposures do not exceed the Commitment as so reduced in any such case on the effective date of such reduction and (iii) the Borrower is notnot and, and after giving effect to such reduction, would not be in violation of SECTION 2.6.3Section 2.07(c). Any such reduction shall concurrently reduce the Dollar amount of each LenderBank's Pro Rata Share of the Commitment.

Permanent Reduction of Commitment. At the Borrower's option the Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least $100,000 and to the extent in excess thereof in integral multiples of $50,000 10,000 at any time; provided that (i) the Borrower gives the Agent written notice of the exercise of such option at least one three (13) Business Day's Days prior to the effective date thereof, (ii) the aggregate outstanding balance of the Revolving Credit Loans, if any, does not exceed the Commitment Commitment, as so reduced in any such case on the effective date of such reduction and (iii) the Borrower is not, and after giving effect to such reduction, would not be in violation of SECTION Section 2.6.3. Any such reduction shall concurrently reduce the Dollar amount of each Lender's Pro Rata Share of the Commitment.

Permanent Reduction of Commitment. At the Borrower's option the Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least $100,000 500,000 and to the extent in excess thereof in integral multiples of $50,000 100,000 at any time; provided that (i) the Borrower gives the Agent written notice of the exercise of such option at least one three (13) Business Day's Days prior to the effective date thereof, (ii) the aggregate outstanding balance of the Loans, if any, does not exceed the Commitment , as so reduced in any such case on the effective date of such reduction and (iii) the Borrower is not, and after giving effect to such reduction, would not be in violation of SECTION Section 2.6.3. Any such reduction shall concurrently reduce the Dollar amount of each Lender's Pro Rata Share of the Commitment.

Permanent Reduction of Commitment. At the Borrower's option option, the Commitment may be permanently and irrevocably reduced in whole or in part by an amount of at least $100,000 500,000 and to the extent in excess thereof in integral multiples of $50,000 100,000 at any time; provided that (i) the Borrower gives the Agent written notice of the exercise of such option at least one three (13) Business Day's Days prior to the effective date thereof, (ii) the aggregate outstanding balance of the Loans, if anyRevolving Credit Loans plus the aggregate outstanding amount of any Letters of Credit and any Undrawn Amounts, does not exceed the Commitment Commitment, as so reduced in any such case on the effective date of such reduction reduction, and (iii) the Borrower is not, and after giving effect to such reduction, would not be in violation of SECTION Section 2.6.3. Any such reduction shall concurrently reduce the Dollar amount of each Lender's Pro Rata Share of the Commitment.