Common use of Reduction or Termination of Revolving Commitments Clause in Contracts

Reduction or Termination of Revolving Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitment or permanently reduce the Aggregate Revolving Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) unpaid principal balance of the Revolving Loans and (ii) L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than noon, three Business Days prior to (or if all the outstanding Borrowings are Base Rate Loans, no later than noon on) the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $1,000,000 or any whole multiple of $1,000,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Aggregate Revolving Commitment may not be increased. Any reduction of the Aggregate Revolving Commitment shall be applied to the Revolving Commitment of each Lender according to its Pro Rata Share. Except in connection with a termination or reduction of the entire Aggregate Revolving Commitment, all commitment fees on the portion of the Aggregate Revolving Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolving Commitment shall at Administrative Agent’s option either be paid on the effective date of such termination or on the date when such commitment fee would otherwise be due.

Reduction or Termination of Revolving Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or from time to time permanently reduce the Aggregate Revolving Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) unpaid principal balance of the Revolving Loans and (ii) L/C ObligationsCommitments; provided that (i) any such notice shall be received by the Administrative Agent not later than noon11:00 a.m., three five Business Days prior to (or if all the outstanding Borrowings are Base Rate Loans, no later than noon on) the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $1,000,000 5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) Borrower shall not terminate or reduce the Aggregate Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Aggregate Revolving Commitments and (iv) if, after giving effect to any reduction of the Aggregate Revolving Commitments, the Letter of Credit Sublimit exceeds the amount of the Aggregate Revolving Commitments, such Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent shall will promptly notify the Lenders of any such notice of termination or reduction or terminationof the Aggregate Revolving Commitments. Once reduced in accordance with this Section, the Aggregate Revolving Commitment Commitments may not be increased. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Revolving Commitment of each Lender according to its Pro Rata Share. Except in connection with a termination or reduction of the entire Aggregate Revolving Commitment, all commitment All facility utilization fees on the portion of the Aggregate Revolving Commitment so terminated which have accrued to until the effective date of any termination of the Aggregate Revolving Commitment Commitments shall at Administrative Agent’s option either be paid on the effective date of such termination or on the date when such commitment fee would otherwise be duetermination.

Reduction or Termination of Revolving Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitment Commitments, or permanently reduce the Aggregate Revolving Commitment Commitments to an amount not less than the sum of the then Outstanding Amount of the then existing (i) unpaid principal balance of the all Revolving Loans, Swing Line Loans and (ii) L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than noon11:00 a.m., three five Business Days prior to (or if all the outstanding Borrowings are Base Rate Loans, no later than noon on) the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $1,000,000 5,000,000 or any whole multiple of $1,000,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or terminationtermination of the Aggregate Revolving Commitments. Once reduced in accordance with this Section, the Aggregate Revolving Commitment Commitments may not be increased. The Aggregate Revolving Commitment shall also be permanently reduced by the amount of Revolving Loans required to be prepaid (whether or not any Revolving Loans are then outstanding) pursuant to Section 2.05(d), (e), (f) and (g) hereof; provided, however, the Aggregate Revolving Commitment shall not be permanently reduced by any amount of Revolving Loans required to be prepaid with the Net Proceeds from the Disposition of real estate acquired by the Borrower or any of its Subsidiaries after the Closing Date and sold pursuant to a sale and leaseback permitted by Section 7.15 hereof. Any reduction of the Aggregate Revolving Commitment Commitments shall be applied to the Revolving Commitment of each Lender according to its Pro Rata Share. Except in connection with a termination or reduction of the entire Aggregate Revolving Commitment, all commitment All fees on the portion of the Aggregate Revolving Commitment so terminated which have accrued to until the effective date of any termination of the Aggregate Revolving Commitment Commitments shall at Administrative Agent’s option either be paid on the effective date of such termination or on the date when such commitment fee would otherwise be duetermination.

Reduction or Termination of Revolving Commitments. The Borrower Borrowers may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitment or permanently reduce the Aggregate Revolving Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) unpaid principal balance of the Revolving Loans and (ii) L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than noon, three Borrowing Base Credit Agreement Business Days prior to (or if all the outstanding Borrowings are Base Rate Loans, no later than noon on) the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $1,000,000 or any whole multiple of $1,000,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Aggregate Revolving Commitment may not be increased. Any reduction of the Aggregate Revolving Commitment shall be applied to the Revolving Commitment of each Lender according to its Pro Rata Share. Except in connection with a termination or reduction of the entire Aggregate Revolving Commitment, all commitment fees on the portion of the Aggregate Revolving Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolving Commitment shall at Administrative Agent’s option either be paid on the effective date of such termination or on the date when such commitment fee would otherwise be due.

Reduction or Termination of Revolving Commitments. The Borrower Borrowers may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitment or permanently reduce the Aggregate Revolving Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) unpaid principal balance of the Revolving Loans and (ii) L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than noon, three Business Days prior to (or if all the outstanding Borrowings are Base Rate Loans, no later than noon on) the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $1,000,000 or any whole multiple of $1,000,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Aggregate Revolving Commitment may not be increased. Any reduction of the Aggregate Revolving Commitment shall be applied to the Revolving Commitment of each Lender according to its Pro Rata Share. Except in connection with a termination or reduction of the entire Aggregate Revolving Commitment, all commitment fees on the portion of the Aggregate Revolving Commitment so terminated which have accrued to the effective date of any termination of the Aggregate Revolving Commitment shall at Administrative Agent’s option either be paid on the effective date of such termination or on the date when such commitment fee would otherwise be due.

Reduction or Termination of Revolving Commitments. The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitment or permanently reduce the Aggregate Revolving Commitment to an amount not less than the sum of the Outstanding Amount of the then existing (i) unpaid principal balance of the Revolving Loans and (ii) L/C Obligations; provided that (i) any such notice shall be received by the Administrative Agent not later than noon, three Business Days prior to (or if all the outstanding Borrowings are Base Rate Loans, no later than noon on) the date of termination or reduction, and (ii) any such partial reduction shall be in an aggregate amount of $1,000,000 500,000 or any whole multiple of $1,000,000 500,000 in excess thereof. The Administrative Agent shall promptly notify the Lenders of any such notice of reduction or termination. Once reduced in accordance with this Section, the Aggregate Revolving Commitment may not be increased. Any reduction of the Aggregate Revolving Commitment shall be applied to the Revolving Commitment of each Lender according to its Pro Rata Share. Except in connection with a termination or reduction of the entire Aggregate Revolving Commitment, all commitment fees on the portion of the Aggregate Revolving Commitment so terminated reduced which have accrued to the effective date of any termination reduction of the Aggregate Revolving Commitment shall at Administrative Agent’s option either be paid on the effective date of such termination reduction or on the date when such commitment fee would otherwise be due.