Voluntary Commitment Reduction. The Borrower shall have the right any time and from time to time, without premium or penalty, upon three (3) Business Days’ prior written, irrevocable notice to the Administrative Agent to permanently reduce, in whole multiples of $5,000,000, or terminate the Revolving Credit Commitments; provided that any such reduction or termination shall be accompanied by (a) the payment in full of any Commitment Fee then accrued on the amount of such reduction or termination and (b) the prepayment of the Revolving Credit Loans, together with the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 5.9 [Indemnity] hereof), to the extent that the Revolving Facility Usage exceeds the Revolving Credit Commitment as so reduced or terminated; and provided further that the Revolving Credit Commitments may not be reduced below the Revolving Facility Usage. Each reduction of Revolving Credit Commitments shall ratably reduce the Revolving Credit Commitments of the Lenders, except as otherwise provided in an Additional Credit Extension Amendment as permitted in the definition of “Class.” From the effective date of any such reduction or termination, the obligations of the Borrower to pay the Commitment Fee pursuant to Section 2.3 [Commitment Fees] shall correspondingly be reduced or cease.
Voluntary Commitment Reduction. Company shall have the right from time to time upon notice by Company to Administrative Agent not later than 1:00 p.m., five Business Days in advance, to reduce the Commitment, in whole or in part; provided, however, that Company shall pay the accrued and unpaid Commitment Fee on the amount of such reduction, if any, and any partial reduction shall be in an aggregate amount which is not less than $1,000,000 and an integral multiple of $500,000. Such notice shall specify the amount of reduction and the proposed date of such reduction.
Voluntary Commitment Reduction. Borrower shall have the right from time to time upon notice by Borrower to the Administrative Agent not later than 1:00 p.m., five Business Days in advance, to reduce the Commitment, in whole or in part; provided, however, that Borrower shall pay the accrued commitment fee on the amount of such reduction, if any, and any partial reduction shall be in an aggregate amount which is not less than $1,000,000 and an integral multiple of $500,000. Such notice shall specify the amount of reduction and the proposed date of such reduction.
Voluntary Commitment Reduction. Without premium or penalty, and upon giving not less than three Business Days prior written and irrevocable notice to the Administrative Agent, the Borrowers may terminate in whole or in part the unused portion of the Total Revolver Commitment or the commitment under the LC Subfacility; provided that: (i) each partial termination of the Total Revolver Commitment shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; each partial termination of the commitment under the LC Subfacility shall be in an amount of not less than $1,000,000 or a greater integral multiple of $250,000; (ii) on any date of determination, the amount of the Revolver Commitment may not be reduced below the Revolver Commitment Usage; the amount of any Discretionary Revolver Commitment for any Discretionary Revolver Loan may not be reduced below the Discretionary Revolver Principal Debt for such Discretionary Revolver Loan; and the commitment under the LC Subfacility shall not be reduced below the LC Exposure; and (iii) each reduction of the Total Revolver Commitment shall be allocated ratably among the Revolver Commitment and the Discretionary Revolver Commitment under all Discretionary Revolver Loans (for purposes hereof, "ratably" shall mean the proportion that the Revolver Commitment or the Discretionary Revolver Commitment under all Discretionary Revolver Loan bears to the Total Revolver Commitment). Concurrently with any reduction in any Discretionary Revolver Commitment for any Discretionary Revolver Loan, the Maximum Discretionary Commitment shall be reduced by a like amount. At the time of any commitment termination under this Section 2.5, the Borrowers shall pay to the Administrative Agent, for the account of each Revolver Lender or each Discretionary Revolver Lender (as applicable), any amounts that may then be due under Section 3.3(d), all accrued and unpaid fees then due and payable under this Agreement, the interest attributable to the amount of that reduction, and any related Consequential Loss. Any part of the Revolver Commitment, the Discretionary Revolver Commitment for any Discretionary Revolver Loan, the Maximum Discretionary Commitment, or the commitment under the LC Subfacility that is terminated may not be reinstated.
Voluntary Commitment Reduction. (a) The Borrower shall have the right any time and from time to time, without premium or penalty, upon three (3) Business Days’ prior written notice to the Administrative Agent to permanently reduce, in whole multiples of $1,000,000, or terminate the Commitments; provided that any such reduction or termination shall be accompanied by (i) the payment in full of any Commitment Fee then accrued on the amount of such reduction or termination and (ii) the prepayment of the Loans, together with the full amount of interest accrued on the principal sum to be prepaid, to the extent that the Usage exceeds the Commitment as so reduced or terminated; and provided further that the Commitments may not be reduced below the Usage. Each reduction of Commitments shall ratably reduce the Commitments of the Lenders, except as otherwise provided in an Additional Credit Extension Amendment as permitted in the definition of “Class.” From the effective date of any such reduction or termination, the obligations of the Borrower to pay the Commitment Fee pursuant to Section 2.3 [Commitment Fees] shall correspondingly be reduced or cease.
Voluntary Commitment Reduction. Without premium or penalty, ------------------------------ and upon giving not less than ten Business Days prior written and irrevocable notice to Administrative Agent, Borrower may terminate in whole or in part the unused portion of the Revolver Commitment, the Swing Line Commitment, or the commitment under the LC Subfacility; provided that: (i) each partial termination of the Revolver Commitment shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; each partial termination of the Swing Line Commitment or the commitment under the LC Subfacility shall be in an amount of not less than $1,000,000 or a greater integral multiple of $250,000; and (ii) on any date of determination, the amount of the Revolver Commitment may not be reduced below the Revolver Principal Debt; the Swing Line Commitment may not be reduced below the Swing Line Principal Debt, and the commitment under the LC Subfacility shall not be reduced below the LC Exposure. At the time of any commitment termination under this Section 2.5, Borrower shall pay to Administrative Agent, for the account of each Lender, any amounts that may then be due under Section 3.3(d), all accrued and unpaid fees then due and payable under this Agreement, the interest, if any, attributable to the amount of that reduction, and any related Consequential Loss. Any part of the Revolver Commitment, the Swing Line Commitment, or the commitment under the LC Subfacility that is terminated may not be reinstated.
Voluntary Commitment Reduction. The Borrower shall have the right, upon at least three Business Days’ notice to the Lender, to terminate in whole or, upon same day notice, from time to time to permanently reduce in part the unused portion of the Commitment; provided that each partial reduction shall be in the aggregate amount of $5,000,000 or in an integral multiple of $1,000,000 in excess thereof. Each such notice of termination or reduction shall be irrevocable. Without limiting subsection (b) below, if the Commitment is reduced or terminated pursuant to this subsection (a) it may not be reinstated.
Voluntary Commitment Reduction. Without premium or penalty, and upon giving not less than ten (10) Business Days prior written and irrevocable notice to Administrative Agent, Borrower may terminate in whole or in part the unused portion of the Revolver Commitment; PROVIDED THAT: (i) each partial termination shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; (ii) the amount of the Revolver Commitment may not be reduced below the Revolver Commitment Usage; and (iii) each reduction shall be allocated Pro Rata among the Lenders in accordance with their respective Pro Rata Parts. Promptly after receipt of such notice of termination or reduction, Administrative Agent shall notify each Lender of the proposed cancellation or reduction. Such termination or partial reduction of the Revolver Commitment shall be effective on the Business Day specified in Borrower's notice (which date must be at least ten Business Days after Borrower's delivery of such notice). In the event that the Total Commitment is reduced to zero at a time when there shall be no LC Exposure or Principal Debt, this Agreement shall be terminated to the extent specified in SECTION 13.15, and all commitment fees and other fees then earned and unpaid hereunder and all other amounts of the Obligation then due and owing shall be immediately due and payable, without notice or demand by Administrative Agent or any Lender.
Voluntary Commitment Reduction. Without premium or penalty, and upon giving not less than three Business Days prior written and irrevocable notice to Administrative Agent, Borrower may terminate in whole or in part the unused portion of the Commitment, or the commitment under the LC Subfacility; provided that: (i) each partial termination of the Commitment shall be in an amount of not less than $5,000,000 or a greater integral multiple of $1,000,000; each partial termination of the commitment under the LC Subfacility shall be in an amount of not less than $1,000,000 or a greater integral multiple of $500,000; and (ii) on any date of determination, the amount of the Commitment may not be reduced below the Commitment Usage, and the commitment under the LC Subfacility shall not be reduced below the LC Exposure. At the time of any commitment termination under this Section 2.3, Borrower shall pay to Administrative Agent, for the account of each Lender any amounts that may then be due under Section 3.3(c), all accrued and unpaid fees then due and payable under this Agreement, the interest attributable to the amount of that reduction, and any related Consequential Loss. Any part of the Commitment or the commitment under the LC Subfacility that is terminated may not be reinstated.
Voluntary Commitment Reduction. The Borrowers shall have the right at ------------------------------ any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty any unused portion of the Term Loan Commitment, from time to time, in an aggregate principal amount not less than $2,000,000 or any whole multiple of $500,000 in excess thereof.
