Voluntary Reduction of Revolving Credit Commitments. Upon at least one Business Day’s prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent at the Administrative Agent’s Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Borrower shall have the right, without premium or penalty, on any day, permanently to terminate or reduce the Revolving Credit Commitments of any Class in whole or in part, provided that (a) any such reduction shall apply proportionately and permanently to reduce the Revolving Credit Commitment of each of the Lenders of such Class of Revolving Credit Commitments, except that (i) notwithstanding the foregoing, in connection with the establishment on any date of any Extended Revolving Credit Commitments (including, without limitation, the 2016 Revolving Credit Commitments) pursuant to Section 2.14(f), the Revolving Credit Commitments of any one or more Lenders providing any such Extended Revolving Credit Commitments on such date shall be reduced in an amount equal to the amount of Revolving Credit Commitments so extended on such date (provided that (x) after giving effect to any such reduction and to the repayment of any Revolving Credit Loans made on such date, the Revolving Credit Exposure of any such Lender does not exceed the Revolving Credit Commitment thereof (such Revolving Credit Exposure and Revolving Credit Commitment being determined in each case, for the avoidance of doubt, exclusive of such Lender’s Extended Revolving Credit Commitment and any exposure in respect thereof) and (y) for the avoidance of doubt, any such repayment of Revolving Credit Loans contemplated by the preceding clause shall be made in compliance with the requirements of Section 5.3(a) with respect to the ratable allocation of payments hereunder, with such allocation being determined after giving effect to any conversion pursuant to Section 2.14(f) of Revolving Credit Commitments and Revolving Credit Loans into Extended Revolving Credit Commitments and Extended Revolving Credit Loans pursuant to Section 2.14(f) prior to any reduction being made to the Revolving Credit Commitment of any other Lender) and (ii) Borrower may at its election permanently reduce the Revolving Credit Commitment of a Defaulting Lender to $0 without affecting the Revolving Credit Commitments of any other Lender, (b) any partial reduction pursuant to this Section 4.2 shall be in the amount of at least $5,000,000 and (c) after giving effect to su...
Voluntary Reduction of Revolving Credit Commitments. Upon at least one Business Day’s prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent at the Administrative Agent’s Office (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the Parent Borrower (on behalf of itself) shall have the right, without premium or penalty, on any day, permanently to terminate or reduce the Revolving Credit Commitments in whole or in part; provided that (a) any such reduction shall apply proportionately and permanently to reduce the Revolving Credit Commitment of each of the Lenders, (b) any partial reduction pursuant to this Section 4.2 shall be in the amount of at least $10,000,000 and (c) after giving effect to such termination or reduction and to any prepayments of the Loans made on the date thereof in accordance with this Agreement (including pursuant to Section 5.2(b)(i)), the aggregate amount of the Lenders’ Revolving Exposures shall not exceed the Total Revolving Credit Commitment.
Voluntary Reduction of Revolving Credit Commitments. The --------------------------------------------------- Borrower shall have the right at any time and from time to time upon not less than three (3) Business Days' prior written notice (which notice shall be irrevocable) to the Administrative Agent to terminate or to permanently and ratably reduce, in an aggregate amount of not less than $1,000,000 or an integral multiple thereof, the respective Revolving Credit Commitments without penalty or premium, except as hereinafter set forth. The Administrative Agent shall promptly advise each Bank of the date and amount of each such reduction. After each such reduction, the Commitment Fee shall be calculated upon the unused portion of the Revolving Credit Commitments as so reduced and the amount of reduction may not be reinstated.
Voluntary Reduction of Revolving Credit Commitments. The Borrower shall have the right, upon not less than three (3) Business Days’ written irrevocable notice to the Agent provided no later than 11:00 a.m. on the date such notice is provided, to terminate the Revolving Credit Commitments or, from time to time, to reduce the amount of the Revolving Credit Commitments, which notice shall specify the date and amount of any such reduction and otherwise be substantially in the form of Exhibit 5.4.4 (a “Commitment Reduction Notice”). Any such reduction shall be in a minimum amount equal to $5,000,000.00 or in integral multiples of $1,000,000.00 thereabove, provided, that the Revolving Credit Commitments may not be reduced below the aggregate principal amount of all Dollar Equivalent Revolving Facility Usage. Each reduction of Revolving Credit Commitments shall ratably reduce the Revolving Credit Commitments of the Lenders.
Voluntary Reduction of Revolving Credit Commitments. Subject to the provisions of Section 2.09 hereof, at any time and from time to time upon at least five (5) Business Days' prior written notice to the Agent, the Borrower may terminate, in whole or in part, without penalty, the then unused portion of the Revolving Credit Commitments, thereby causing a corresponding abatement of the Commitment Fee. Each such reduction shall be in a minimum principal amount of $5,000,000 or, if in excess of $5,000,000, in integral multiples of $1,000,000. The Commitment Fee shall cease to accrue with respect to any unused portion of the Revolving Credit Commitments so terminated five (5) Business Days after receipt of such notice. Notice of termination once given shall be irrevocable and the portion of the Revolving Credit Commitments so terminated shall not be available for borrowing once such notice has been given under the terms hereof. The Agent shall promptly notify each Lender of its Ratable Share of such terminated unused portion and the date of each such termination. The foregoing notwithstanding, the Short-Term Revolving Credit Commitment must be reduced to zero and terminated before there may be any reduction of the Long-Term Revolving Credit Commitment.
Voluntary Reduction of Revolving Credit Commitments. Upon at least three (3) Business Days’ prior written notice to Collateral Agent in the form of Schedule 2.05(a) (each, a “Commitment Reduction Notice”) signed by a Duly Authorized Officer, Borrowers may permanently terminate or permanently reduce the Revolving Credit Commitments, provided as follows:
Voluntary Reduction of Revolving Credit Commitments. The Borrower may permanently reduce or terminate the unutilized Total Revolving Credit Commitments at any time and from time to time in whole or in part upon at least three Business Days' prior written notice to the Administrative Agent; provided, however, that each such reduction must be in an amount not less than $250,000 (and in increments of $50,000 if in excess thereof); and provided further, that (i) if the Borrower seeks to reduce the Total Revolving Credit Commitments to an amount less than $10,000,000, then the Total Revolving Credit Commitments shall be reduced to zero and (ii) once reduced, the amount of any such reductions in the Total Revolving Credit Commitments may not be reinstated.
Voluntary Reduction of Revolving Credit Commitments. The Borrower may by written notice delivered to the Agent and the Banks at least ten (10) days prior to the effective date thereof, terminate in whole or in part the Revolving Credit Commitment. Such reduction shall be effective only upon: (i) the repayment of all Obligations (other then Letter of Credit Outstanding) to an amount not in excess of the Revolving Credit Commitments as so reduced, (ii) the payment of any amounts due in connection therewith under Section 4.6.2 [Indemnity] and (iii) the delivery to the Agent of cash collateral equal to the face amount of all Letters of Credit Outstanding on the date of such termination; provided however; the Revolving Credit Commitment shall not be reduced to less than $40,000,000.
Voluntary Reduction of Revolving Credit Commitments. The Borrower shall have the right at any time and from time to time upon not less than three (3) Business Days' prior written notice to the Banks to permanently reduce, in whole multiples of $10,000,000, or terminate the Revolving Credit Commitments without penalty or premium, except as hereinafter set forth, 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) prepayment of the Revolving Credit Notes, together with the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 4.6 ) and the Borrower shall deposit in a non-interest bearing account (provided that with the consent of the Issuing Letter of Credit Banks and the Administrative Agent, such consent not to be unreasonably withheld, such account may be an interest bearing account) with the Administrative Agent, as cash collateral for its Obligations in respect of the Letters of Credit and related applications and agreements, an amount equal to the maximum amount currently or at any time thereafter available to be drawn on all outstanding Letters of Credit, and the Borrower hereby pledges to the Administrative Agent and the Banks, and grants to the Administrative Agent and the Banks a security interest in, all such cash as security for such Obligations, to the extent that the Revolving Facility Usage then exceeds the Revolving Credit Commitments as so reduced or terminated. From time to time the Administrative Agent shall return to the Borrower any excess of the amount held in such account over the amount by which the Revolving Facility Usage then exceeds the Revolving Credit Commitments. From the effective date of any such reduction or termination, the obligations of Borrower to pay the Commitment Fee pursuant to Section 2.3 shall correspondingly be reduced or cease.
Voluntary Reduction of Revolving Credit Commitments. Upon at least three (3) Business Days' prior telephonic notice (promptly confirmed in writing) to the Agent, Borrower shall have the right, without premium or penalty, to terminate the unutilized Revolving Credit Commitments, in part or in whole, provided that (i) any such termination shall apply to proportionately and permanently reduce the Revolving Credit Commitments of each of the Lenders, and (ii) any partial termination pursuant to this Section 2.03 shall be in an amount of at least $1,000,000 and integral multiples of $1,000,000.