Common use of Voluntary Reduction of Revolving Credit Commitments Clause in Contracts

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 (on behalf of itself) 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 such Class of each of the Lenders, (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 such termination or reduction and to any prepayments of the Loans made on the date thereof in accordance with this Agreement, (i) the aggregate amount of the Lenders’ Revolving Credit Exposures shall not exceed the Total Revolving Credit Commitment, (ii) the aggregate amount of the Lenders’ Tranche R-1 Revolving Credit Exposures shall not exceed the aggregate Tranche R-1 Revolving Credit Commitment and (iii) the aggregate amount of the Lenders’ Tranche R-2 Revolving Credit Exposures shall not exceed the aggregate Tranche R-2 Revolving Credit Commitment.

Voluntary Reduction of Revolving Credit Commitments. Upon (a) Subject to the provisions of clause (c) below, upon at least one five Business Day’s Days’ 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 Tranche A Commitments of any Class and/or the Tranche A-1 Commitments in whole or in part; , provided that (a) any such reduction shall apply proportionately and permanently to reduce the Revolving Credit Commitment of such Class Tranche A Commitments and/or the Tranche A-1 Commitments, as applicable, of each of the Lenders, (b) any partial reduction pursuant to this Section 4.2 shall be in the amount of at least $5,000,000 50,000,000 and in multiples of $50,000,000 in excess thereof 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 AgreementAgreement (including pursuant to Section 5.2(b)(i)), (i) the aggregate amount of the Lenders’ Revolving Credit Exposures shall not exceed the Total Revolving Credit Commitment, (ii) the aggregate amount lesser of the Lenders’ Tranche R-1 Revolving Credit Exposures shall not exceed the aggregate Tranche R-1 Total Revolving Credit Commitment and (iii) the aggregate amount of the Lenders’ Tranche R-2 Revolving Credit Exposures shall not exceed the aggregate Tranche R-2 Revolving Credit CommitmentApplicable Borrowing Base then in effect.

Voluntary Reduction of Revolving Credit Commitments. Upon at least one two Business Day’s Days’ 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), which notice may be conditioned upon the occurrence of any other transaction and, if such condition is not satisfied on or prior to the date specified in such notice, may be revoked by the Borrower, the 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 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 such Class of each of the LendersLenders of any applicable Class, except that the 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 clause (a) of this Section 4.2 shall be in the amount of at least $5,000,000 2,500,000, 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, (i) the aggregate amount of the Lenders’ Revolving Credit Exposures shall not exceed the Total Revolving Credit Commitment, (ii) Commitment and the aggregate amount of the Lenders’ Tranche R-1 Revolving Credit Exposures in respect of any Class shall not exceed the aggregate Tranche R-1 Revolving Credit Commitment and (iii) the aggregate amount of the Lenders’ Tranche R-2 Revolving Credit Exposures shall not exceed the aggregate Tranche R-2 Revolving Credit Commitmentsuch Class.