Reduction of Aggregate Commitment. The Borrower shall have the right, upon at least three (3) Business Days’ prior notice to the Agent, to terminate in whole or reduce in part the unused portion of the Aggregate Commitment, provided that each partial reduction shall be in the amount of at least Two Million Dollars ($2,000,000), and provided further that no reduction shall be permitted if, after giving effect thereto, and to any prepayment made therewith, the sum of (i) the outstanding and unpaid principal amount of the Loans and (ii) the Facility Letter of Credit Obligations shall exceed the Aggregate Commitment. Each reduction in part of the unused portion of each Lender’s Commitment shall be made in the proportion that such Commitment bears to the total amount of the Aggregate Commitment. Any Commitment, once reduced or terminated, may not be reinstated (except as otherwise provided in Section 8.01(v)) and may not be increased (except in accordance with Section 2.02.2).
Reduction of Aggregate Commitment. Pursuant to Section 2.5.2 of the Credit Agreement, the Aggregate Commitment is hereby reduced from $550,000,000 to $200,000,000, allocated to each Lender’s Commitment ratably. The amounts of the reduced Commitments of the Lenders are set forth in Schedule I hereto. The text of Section 2.5.2 is numbered “(i)” and immediately thereafter, a new subsection (ii) is inserted to read as follows:
Reduction of Aggregate Commitment. The Company may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $10,000,000, upon at least five Business Days’ written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure.
Reduction of Aggregate Commitment. Provided (a) no Draw Request is pending that would result in the outstanding principal balance of the Loan exceeding the Aggregate Commitment, and (b) that immediately after such reduction the outstanding principal balance of the Loan is less than or equal to the Aggregate Commitment, (which for the purposes of this Section shall include any amounts requested under a pending Draw Request), Borrower may (in its sole and absolute discretion) permanently reduce the available Aggregate Commitment of the Loan (without the payment of any prepayment fee, other than break funding, including any sums and any charges relating to early termination of any Swap Contracts), by giving Administrative Agent irrevocable notice of such reduction at least two (2) Business Days prior to the indicated effective date of the reduction. Each such reduction shall (a) be in a minimum amount of $1,000,000 (and in increments of $500,000 thereafter), (b) in no event reduce the Aggregate Commitment below $100,000,000 (unless the entire Loan facility is being paid off), and (c) permanently reduce the maximum Aggregate Commitment of the Loan available to Borrower (with appropriate adjustments to the Non-Revolving Portion and the Revolving Portion of the Loan). SMRH:4847-1441-2233.18 -92- 0YWK-314211
Reduction of Aggregate Commitment. At the request of the Borrower, the amount of the Total Revolving Credit Commitment is hereby reduced to $1,650,000,000 and such reduction shall be allocated to each Lender’s Revolving Credit Commitment ratably in accordance with its Commitment Ratio. The Borrower represents, warrants and certifies that this reduction in the Total Revolving Credit Commitment is in accordance with Section 2.14 of the Credit Agreement.
Reduction of Aggregate Commitment. The Borrowers may, upon thirty (30) days' irrevocable written notice to the Administrative Agent, terminate in whole or permanently reduce in part the Aggregate Commitment without premium or penalty, provided, however, that, after giving effect to such reduction, the Aggregate Commitment equals or exceeds the amount of the Loans plus the Letter of Credit Obligations then outstanding. Any such partial reduction of the Aggregate Commitment shall be in a minimum amount of $5,000,000, or integral multiples of $1,000,000 in excess of that amount, and shall reduce the Commitment of each Lender proportionately in accordance with its Pro Rata Share.
Reduction of Aggregate Commitment. Borrower may, by written notice to the Administrative Agent on or before 10:00 A.M. (Central time) on any Banking Day, irrevocably reduce the Aggregate Commitment; provided that (a) such reduction must be in minimum amounts of one million dollars ($1,000,000.00) and incremental multiples of $500,000.00 (or, if Borrower elects to proceed under clause (y) of this Section, the amount of the Individual Commitment of such affected Syndication Party or Parties); and (b) Borrower must simultaneously make any principal payment necessary (along with any applicable Funding Losses on account of such principal payment) so that (i) the principal amount outstanding under the Revolving Loan does not exceed the reduced Aggregate Commitment on the date of such reduction, and (ii) the Individual Outstanding Obligations owing to any Syndication Party do not exceed the Individual Commitment of that Syndication Party (after reduction thereof in accordance with the following sentence). Upon the reduction of the Aggregate Commitment as provided in the preceding sentence, either (x) the Individual Commitment of each Syndication Party shall be reduced in the same proportion as the Individual Commitment of such Syndication Party bears to the Aggregate Commitment before such reduction; or (y) upon the delivery by Borrower to the Administrative Agent of a written election of Borrower, which election shall be irrevocable, to allocate the reduction of the Aggregate Commitment pursuant to this Section 2.8 to any one or more (but fewer than all) of the Syndication Parties, and upon written approval thereof by the Administrative Agent and the Required Lenders, the reduction of Aggregate Commitment shall be allocated to the Syndication Party or Parties so designated by Borrower provided that such reduction is sufficient to reduce the Individual Commitment of each such designated Syndication Party to zero. In the event Borrower elects to proceed as provided in clause (y) above (and such election is approved in writing by the Administrative Agent and the Required Lenders), then (i) Borrower agrees to pay to each such designated Syndication Party all principal, accrued interest, and Funding Losses owing to such Syndication Party as of the date of, and on account of, such payment, and (ii) each such designated Syndication Party agrees to reduce its Individual Commitment to zero upon receipt of such payment and to return its Revolving Note to the Administrative Agent.
Reduction of Aggregate Commitment. The Borrower has requested a reduction of the amount of the Aggregate Commitment to $250,000,000 outstanding as of the date hereof and such reduction shall be allocated to each Lender’s Commitment ratably in accordance with its Ratable Share. The Borrower represents, warrants and certifies that this reduction in the Aggregate Commitment is in accordance with Section 2.6 of the Credit Agreement.
Reduction of Aggregate Commitment. At any time prior to the Revolving Termination Date, by written notice to the Administrative Agent no later than 10:00 a.m., Seattle time, three Banking Days prior to such termination or reduction, Trendwest may permanently terminate, or from time to time permanently reduce, the Aggregate Commitment, subject to Section 3.4(b)(i). Such notice shall be in writing or by telephonic communication confirmed by telecopy or other facsimile transmission on the same day as such telephone notice. Any such partial reduction shall be in an amount that is not less than $5,000,000 or an integral multiple of $1,000,000 in excess of $5,000,000. The Administrative Agent shall notify the Lenders of any such reduction or termination of the Aggregate Commitment.
Reduction of Aggregate Commitment. 15 2.4 Advances Do Not Constitute a Waiver . . . . . . . . . . . . . . . . . . . . . . . . . . 15 3 THE NOTES, INTEREST RATE OPTIONS, REPAYMENT OF REVOLVING CREDIT LOANS . . . . . . . . . . . 15 3.1 The Notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 3.2 Funds for Revolving Credit Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 3.3
