Common use of Voluntary Commitment Reductions Clause in Contracts

Voluntary Commitment Reductions. (i) The Borrowers may, upon not less than three (3) Business Days’ prior written notice confirmed in writing to the Administrative Agent (which original written notice the Administrative Agent shall promptly transmit by telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments, in an amount up to the amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments, as applicable, at the time of such proposed termination or reduction; provided, that any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of, $5,000,000 (or €5,000,000 with respect to any drawing in Euro) and integral multiples of $1,000,000 (or €1,000,000 with respect to any drawing in Euro) in excess of that amount (or such lesser amount as the Administrative Agent may agree). (ii) The applicable Borrower’s notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in the applicable Borrower’s notice and shall reduce the Revolving Commitments of each Lender proportionately to its Pro Rata Share thereof.

Voluntary Commitment Reductions. (i) The Borrowers A Borrower may, upon not less than three (3) two Business Days’ prior written or telephonic notice promptly confirmed in writing by delivery of written notice thereof to the Administrative Agent (which original written notice the Administrative Agent shall will promptly transmit notify by telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the penalty any Class of Revolving Commitments, Commitments in an amount up to the amount by which the such Class of Revolving Commitments exceed the Total Utilization of such Class of Revolving Commitments, as applicable, in each case at the time of such proposed termination or reduction; provided, that any such partial reduction of the Revolving Commitments shall be in an aggregate minimum Dollar Equivalent amount of, of $5,000,000 (or €5,000,000 with respect to any drawing in Euro) 1,000,000 and integral multiples of the Dollar Equivalent amount of $1,000,000 (or €1,000,000 with respect to any drawing in Euro) 100,000 in excess of that amount (or such lesser amount as the Administrative Agent may agree)amount. (ii) The applicable A Borrower’s notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in the applicable such Borrower’s notice and shall reduce the Revolving Commitments Commitment of each Lender proportionately to its Pro Rata Share thereof.

Voluntary Commitment Reductions. (i) The Borrowers Borrower may, upon not less than three (3) Business Days’ prior written notice confirmed in writing thereof to the Administrative Agent (which original written notice the Administrative Agent shall will promptly transmit by telefacsimile or telephone deliver to each applicable Lender), at any time and from time to time time, terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments, Commitments on a pro rata basis as among the various Classes thereof (in accordance with the respective amounts thereof) in an aggregate amount up not to exceed the amount by which the Total Revolving Commitments exceed the Total Utilization of Revolving Commitments, as applicable, Outstanding Amount at the time of such proposed termination or reduction; provided, provided that any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of, of $5,000,000 (or €5,000,000 with respect to any drawing in Euro) and integral multiples of $1,000,000 (or €1,000,000 with respect to any drawing in Euro) in excess of that amount (or such lesser amount as the Administrative Agent may agree)amount. (ii) The applicable Borrower’s notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in the applicable Borrower’s notice and shall reduce the Revolving Commitments Commitment of each Lender proportionately to its Pro Rata Share Revolving Percentage thereof.

Voluntary Commitment Reductions. (i) The Borrowers Any Borrower may, upon not less than three (3) Business Days’ prior written or telephonic notice confirmed in writing to the Administrative Agent (which original written or telephonic notice the Administrative Agent shall will promptly transmit by telefacsimile or telephone to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments, Commitments in an amount up to the amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments, as applicable, Commitments at the time of such proposed termination or reduction; provided, that any such partial reduction of the Domestic Revolving Commitments shall be in an aggregate minimum amount of, of $5,000,000 (or €5,000,000 with respect to any drawing in Euro) and integral multiples of $1,000,000 (or €1,000,000 with respect to any drawing in Euro) in excess of that amount (or and any such lesser European Revolving Commitment shall be in an aggregate minimum amount as the Administrative Agent may agree)of €5,000,000 and integral multiples of €1,000,000 in excess of that amount. (ii) The applicable Such Borrower’s notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in the applicable Borrower’s notice and shall reduce the Revolving Commitments Commitment of each Lender proportionately to its Pro Rata Share thereof.

Voluntary Commitment Reductions. (i) The Borrowers Company may, upon not less than three (3) Business Days’ ' prior written or telephonic notice confirmed in writing to the Administrative Agent (which original written or telephonic notice the Administrative Agent shall will promptly transmit by telefacsimile or telephone (promptly confirmed by telefacsimile) to each applicable Lender), at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the 49 Revolving Commitments, Commitments in an amount up to the amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments, as applicable, Commitments at the time of such proposed termination or reductionreduction after giving effect to any contemporaneous payment on the Revolving Loan; providedPROVIDED, that any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of, of $5,000,000 (or €5,000,000 with respect to any drawing in Euro) and integral multiples of $1,000,000 (or €1,000,000 with respect to any drawing in Euro) in excess of that amount (or such lesser amount as the Administrative Agent may agree)amount. (ii) The applicable Borrower’s Company's notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction, and such termination or reduction of the Revolving Commitments shall be effective on the date specified in the applicable Borrower’s Company's notice and shall reduce the Revolving Commitments Commitment of each Lender proportionately to its Pro Rata Share thereof.

Voluntary Commitment Reductions. (i) The Borrowers Borrower may, upon not less than three (3) Business Days’ prior written or telephonic notice confirmed in writing to the Administrative Agent (which original written notice the Administrative Agent shall promptly transmit by telefacsimile or telephone to each applicable Lender)Agent, at any time and from time to time terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Commitments, Commitments in an amount up to the amount by which the Revolving Commitments exceed the Total Utilization of Revolving Commitments, as applicable, Commitments at the time of such proposed termination or reduction; provided, provided that any such partial reduction of the Revolving Commitments shall be in an aggregate minimum amount of, $5,000,000 of (or €5,000,000 x) with respect to any drawing in Euro) Eurodollar Rate Loans, $1,000,000 and integral multiples of $1,000,000 (or €1,000,000 with respect to any drawing in Euro) in excess of that amount and (or such lesser amount as the Administrative Agent may agree)y) with respect to Base Rate Loans, $500,000 and integral multiples of $100,000 in excess of that amount. (ii) The applicable Borrower’s notice to the Administrative Agent shall designate the date (which shall be a Business Day) of such termination or reduction and the amount of any partial reduction. Any such notice may state that such notice is conditioned upon the occurrence or non-occurrence of any event specified therein (including the effectiveness of other credit facilities), and in which case such termination notice may be revoked by the Borrower (by written notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. (iii) Each reduction of the Revolving Commitments shall be effective on made ratably among the date specified Lenders in the applicable Borrower’s notice and shall reduce the accordance with their respective Revolving Commitments of each Lender proportionately to its Pro Rata Share thereofCommitments.