Common use of The Revolving Credit Commitment Clause in Contracts

The Revolving Credit Commitment. (a) The Revolving Credit Commitment shall be equal to the lesser of: (i) the Borrowing Base as in effect from time to time, or (ii) Forty Million Dollars ($40,000,000). (b) The Borrowing Base shall be adjusted upon Agent's review and acceptance of (i) each monthly Borrowing Base Certificate submitted by Borrower or (ii) any additional information obtained by Agent (including any Request for Advance or updated Borrowing Base Certificates) relating to the determination of Eligible Accounts Receivable and Eligible Inventory. (c) Borrower may, at its option, upon prepayment of all outstanding principal of and interest on the Revolving Credit Notes in accordance with the terms of Section 2.06 hereof, and upon thirty (30) days' prior written notice to Agent, cancel the Revolving Credit Commitment. Borrower may, at its option, upon thirty (30) days' prior written notice to Agent, but not more frequently than two (2) times in any fiscal year of Borrower, reduce the Revolving Credit Commitment by an amount not less than One Hundred Thousand Dollars ($100,000), or, if a greater amount, in integral multiples of Fifty Thousand Dollars ($50,000); PROVIDED, HOWEVER, that the Revolving Credit Commitment shall not at any time be reduced by operation of this

The Revolving Credit Commitment. (a) The Revolving Credit Commitment shall be equal to the lesser of: (i) the Borrowing Base as in effect from time to time, or (ii) Forty Fifty Million Dollars ($40,000,00050,000,000). (b) The Borrowing Base shall be adjusted upon Agent's review and acceptance of (i) each monthly Borrowing Base Certificate submitted by Borrower or (ii) any additional information obtained by Agent (including any Request for Advance or updated Borrowing Base Certificates) relating to the determination of Eligible Accounts Receivable and Eligible Inventory. (c) Borrower may, at its option, upon prepayment of all outstanding principal of and interest on the Revolving Credit Notes in accordance with the terms of Section 2.06 hereof, and upon thirty (30) days' prior written notice to Agent, cancel the Revolving Credit Commitment. Borrower may, at its option, upon thirty (30) days' prior written notice to Agent, but not more frequently than two (2) times in any fiscal year of Borrower, reduce the Revolving Credit Commitment by an amount not less than One Hundred Thousand Dollars ($100,000), or, if a greater amount, in integral multiples of Fifty Thousand Dollars ($50,000); PROVIDEDprovided, HOWEVERhowever, that the Revolving Credit Commitment shall not at any time be reduced by operation of thisthis Section 2.03