Common use of Reductions in Commitments Clause in Contracts

Reductions in Commitments. The Borrower may from time to time permanently reduce the Revolving Committed Amount in whole or in part without premium or penalty except as provided in Section 3.10 upon three (3) Business Days’ prior written notice to the Agent (which notice may be conditioned upon the consummation of replacement financing); provided that after giving effect to any such voluntary reduction the sum of Revolving Loans plus Swing Line Loans plus LC Obligations then outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced. Except as otherwise specified herein, partial reductions in the Revolving Committed Amount shall in each case be in a minimum aggregate amount of $5,000,000 and integral multiples of $500,000 in excess thereof.

Reductions in Commitments. The Borrower may terminate, or from time to time permanently reduce reduce, the Aggregate Revolving Committed Amount in whole or in part without premium or penalty except as provided in Section 3.10 upon three five (35) Business Days’ ' prior written notice to the Agent (which notice may be conditioned upon the consummation of replacement financing)Agent; provided that after giving effect to any such voluntary reduction the sum of Revolving Loans plus LOC Obligations plus Swing Line Loans plus LC Obligations then outstanding shall not exceed the lesser of (i) the Borrowing Base and (ii) the Aggregate Revolving Committed Amount, as reduced. Except as otherwise specified herein, partial reductions in the Revolving foregoing Committed Amount Amounts shall in each case be in a minimum aggregate amount of $5,000,000 1,000,000 and integral multiples of $500,000 1,000,000 in excess thereof.