Voluntary Commitment Termination Clause Samples

Voluntary Commitment Termination. The parties hereto hereby acknowledge and agree that, the Borrower may at any time, by providing at least ten (10) Business Days’ prior written notice (or such shorter period as may be agreed to by the Calculation Agent and, if less than three (3) Business Days, the Administrative Agent) to the Administrative Agent and Calculation Agent, terminate or reduce the unfunded Commitment; provided that, the Borrower may not reduce or terminate the Commitment if, (i) a Default or Event of Default has occurred and is continuing or (ii) after giving effect to such reduction or termination, the remaining unfunded Commitment, if fully utilized, would not, in the Calculation Agent’s judgment (in consultation with the Lenders’ Technical Consultant), be sufficient to achieve Completion, each Data Hall Early Access Date Deadline and each Data Hall Commencement Date Deadline. The Borrower shall pay to the Administrative Agent, for the account of the Lenders, the Commitment Fee then due and payable by the Borrower to the Lenders with respect to the Commitment so reduced or terminated (and, except in the case of a termination in full at such time, thereafter the Commitment Fee will accrue on the Commitment as so reduced). Any reductions pursuant to this Section 2.4(b) shall be applied ratably to each Lender’s respective Commitment.