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

Voluntary Reduction of Revolving Credit Commitments. Upon at least two Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent (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, to permanently terminate or reduce the Revolving Credit Commitments in whole or in part; provided that (i) any such reduction shall apply proportionately and permanently to reduce the Revolving Credit Commitments of each of the Lenders, (ii) any partial reduction pursuant to this Section 4.2 shall be in the amount of at least $1,000,000, and (iii) after giving effect to any such partial reduction, the Total Revolving Credit Commitment shall not be an amount less than the Revolving Credit Exposure.

Voluntary Reduction of Revolving Credit Commitments. Upon at least two Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent (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, to permanently terminate or reduce the Revolving Credit Commitments in whole or in part; provided that (i) any such reduction shall apply proportionately and permanently to reduce the Revolving Credit Commitments of each of the Lenders, (ii) any partial reduction pursuant to this Section 4.2 shall be in the amount of at least $1,000,000, and (iii) after giving effect to any such partial reduction, the Total Revolving Credit Commitment shall not be an amount less than the Revolving Credit Exposure plus the Swingline Exposure.

Voluntary Reduction of Revolving Credit Commitments. Upon at least two Business Days’ ' prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent (which notice the Administrative Agent shall promptly transmit to each of the Lenders), the either Borrower shall have the right, without premium or penalty, on any day, to permanently terminate or reduce the Revolving Credit Commitments under its Availability Limit in whole or in part; provided that (i) any such reduction shall apply proportionately and permanently to reduce the Revolving Credit Commitments Commitment of each of the LendersLenders under such Availability Limit, (ii) any partial reduction pursuant to this Section 4.2 shall be in the amount of at least $1,000,000, and (iii) after giving effect to any such partial reduction, the Total Revolving Credit Commitment shall not be an amount less than the Revolving Credit Exposureat least $5,000,000.

Voluntary Reduction of Revolving Credit Commitments. Upon at least two Business 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 Borrower shall have the right, without premium or penalty, on any day, to permanently terminate or reduce the Total Revolving Credit Commitments Commitment in whole or in part; provided that (i) any such reduction shall apply proportionately and permanently to reduce the Revolving Credit Commitments Commitment of each of the Lenders, (ii) any partial reduction pursuant to this Section 4.2 3.2 shall be in the amount of at least $1,000,000, 1,000,000 and (iii) after giving effect to any such partial reductionreduction of the Total Revolving Credit Commitment, the Total Revolving Credit Commitment shall not be an amount less than the Revolving Credit Exposureat least $5,000,000.