Common use of Reduction and Termination Clause in Contracts

Reduction and Termination. (i) The Total Commitment (and the Commitment of each Lender) shall be automatically reduced to zero at the close of business (New York City time) on the last day of the Commitment Period. (ii) Prior to the end of the Commitment Period, the Borrower shall have the right at any time (x) to terminate in their entirety the Total Commitment or (y) to permanently reduce all or a portion of the unfunded amount of the Commitments, in each case upon not less than two Business Days' prior notice to the Lenders, DBRS and the Administrative Agent of any such termination or reduction, which notice shall specify the effective date of such termination or reduction; provided, in the case of clause (x) above, that all amounts due under this Agreement and the other Loan Documents are satisfied in full, including without limitation all principal, interest, Commitment Fees and Administrative Expenses. Such notice of termination or reduction shall be effective only upon receipt and shall terminate or permanently reduce (as applicable) the Commitments of each Lender on the date specified in such notice and, in the case of clause (y) above, shall specify the amount of any such reduction; provided that no such reduction will reduce the Total Commitment below the aggregate principal amount of the Loans at such time. (iii) The Total Commitment (and the Commitment of each Lender) once terminated or reduced may not be reinstated. Each reduction of the Total Commitment pursuant to this Section 2.7 shall be applied ratably among the Lenders in accordance with their respective Commitments. (iv) The Borrower will not terminate or reduce the Total Commitment if, after giving effect to such reduction or termination, it would result in a Commitment Shortfall.

Reduction and Termination. (i) The Total Commitment (and the Commitment of each Lender) shall be automatically reduced to zero at the close of business (New York City time) on the last day of the Commitment Period. (ii) Prior to the end of the Commitment Period, the Borrower shall have the right at any time (x) to terminate in their entirety the Total Commitment Commitments or (y) to permanently reduce all or a portion of the unfunded amount of the Commitments, in each case upon not less than two five Business Days' ’ prior notice to the Lenders, DBRS and the Administrative Agent of any such termination or reduction, which notice shall specify the effective date of such termination or reduction; provided, in the case of clause (x) above, that all amounts due under this Agreement and the other Loan Documents are satisfied in full, including without limitation all principal, interest, Commitment Fees and Administrative Expenses. Such notice of termination or reduction shall be effective only upon receipt and shall terminate or permanently reduce (as applicable) the Commitments of each Lender on the date specified in such notice and, in the case of clause (y) above, shall specify the amount of any such reduction; provided that no such reduction will reduce the Total Commitment Commitments below the aggregate principal amount of the Loans at such time. (iii) The Total Commitment (and the Commitment of each Lender) once terminated or reduced may not be reinstated. Each reduction of the Total Commitment pursuant to this Section 2.7 shall be applied ratably among the Lenders in accordance with their respective Commitments. (iv) The Borrower will not terminate or reduce the Total Commitment if, after giving effect to such reduction or termination, it would result in a Commitment Shortfall.this

Reduction and Termination. (i) The Total Revolving Commitment (and the Revolving Commitment of each Lender) shall be automatically reduced to zero at the close of business 5:00 p.m. (New York City time) on the last day of the Commitment Period. Upon the funding of the Term Loans as set forth in Section 2.1, the amount of the Total Term Commitment shall be reduced to zero. (ii) Prior to the end of the Commitment Period, the The Borrower shall have the right at any time to reduce (xincluding a reduction in full that results in a termination of the Revolving Commitments) to terminate in their entirety the Total Revolving Commitment or by an amount specified by the Borrower (ysuch amount, the ““Commitment Reduction Amount””) to permanently reduce all or a portion of the unfunded amount of the Commitments, in each case upon not less than two Business Days' ’ prior notice (in substantially the form as set out in Exhibit L) to the Revolving Lenders, DBRS S&P, Fitch or DBRS, as applicable, and the Administrative Agent of any such termination or reductionAgent, which notice shall specify the effective date of such termination or reduction, and on such effective date the Total Revolving Commitment shall be reduced by the Commitment Reduction Amount; provided, in provided that the case of clause (x) above, that Borrower shall only have the right to terminate the Revolving Commitments if all amounts in respect of the Revolving Loans and all other Obligations with respect thereto due under this Agreement and the other Loan Documents are satisfied in full, including without limitation all principal, interest, Commitment Fees and Administrative Expenses. Such notice of termination or reduction (1) shall be effective only upon receipt and by the Administrative Agent, (2) shall terminate or permanently reduce (as applicableand, in the case of a reduction in full, shall terminate) the Revolving Commitments of each Revolving Lender on the date specified in such notice and, in the case of clause and (y3) above, shall specify the amount of any such reductionCommitment Reduction Amount; provided that no such reduction will shall reduce the Total Revolving Commitment below the aggregate principal amount of the Revolving Loans at such time. (iii) The Total Commitment (and the Commitment of each Lender) once terminated or reduced may not be reinstated. Each reduction of the Total Commitment pursuant to this Section 2.7 shall be applied ratably among the Lenders in accordance with their respective Commitments. (iv) The Borrower will not terminate or reduce the Total Commitment if, after giving effect to such reduction or termination, it would result in a Commitment Shortfall.