Common use of Voluntary Reductions of Commitments Clause in Contracts

Voluntary Reductions of Commitments. Borrowers may, upon not less than one Business Day's prior written or telephonic notice confirmed in writing to Administrative Agent, at any time and from time to time, terminate in whole or permanently reduce in part, without premium or penalty, (a) the Revolving Loan Commitments in an amount up to the amount by which the Revolving Loan Commitments exceed the aggregate Revolving Loans outstanding at the time of such proposed termination or reduction or (b) the Letter of Credit Commitments in an amount up to the amount by which the Letter of Credit Commitments exceed the Letter of Credit Usage at the time of such proposed termination or reduction; provided that any such partial reduction of either the Revolving Loan Commitments or the Letter of Credit Commitments shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $1,000,000 in excess of that amount. Borrowers' notice to Administrative Agent (who shall promptly notify each Revolving Lender or Letter of Credit Lender, as applicable, of such notice) 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 any of the Commitments shall be effective on the date specified in Company's notice and shall reduce the particular type of Commitment of each Lender proportionately to its Pro Rata Share. No such voluntary reduction of the Commitments shall be permitted if such reduction would result in (1) the Revolving Loan Commitments being less than the aggregate principal amount of all outstanding Revolving Loans, or (2) the aggregate Letter of Credit Commitments being less than the aggregate Letter of Credit Usage then in effect.

Voluntary Reductions of Commitments. Borrowers Company may, upon not less ----------------------------------- than one three (3) Business Day's Days' prior written or telephonic notice notice, promptly confirmed in writing to the Administrative AgentAgent (which notice the Administrative Agent will promptly transmit by facsimile or telephone to each Lender), at any time and from time to time, time terminate in whole or permanently reduce in part, without premium or penalty, (ax) the Revolving Loan Commitments in an amount up to the amount by which the Revolving Loan Commitments exceed the aggregate Total Utilization of Revolving Loans outstanding Loan Commitments at the time of such proposed termination or reduction or (by) the Letter of Credit Commitments in an amount up to the amount by which the Letter of Credit Commitments exceed the Letter of Credit Usage at the time of such proposed termination or reductionTerm Delayed Draw Loan Commitments; provided that any such partial reduction of either the -------- Revolving Loan Commitments or the Letter of Credit Term Delayed Draw Loan Commitments shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $1,000,000 100,000 in excess of that amount. Borrowers' Company's notice to the Administrative Agent (who shall promptly notify each Revolving Lender or Letter of Credit Lender, as applicable, of such notice) 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 any of the Revolving Loan Commitments or the Term Delayed Draw Loan Commitments shall be effective on the date specified in Company's such notice and shall reduce the particular type of Revolving Loan Commitment or the Term Delayed Draw Loan Commitment, respectively, of each Lender proportionately to its respective Pro Rata Share. No Any such voluntary reduction of the Revolving Loan Commitment or the Term Delayed Draw Loan Commitments shall be permitted if such reduction would result applied as specified in (1) the Revolving Loan Commitments being less than the aggregate principal amount of all outstanding Revolving Loans, or (2) the aggregate Letter of Credit Commitments being less than the aggregate Letter of Credit Usage then in effect.subsection 2.4C.

Voluntary Reductions of Commitments. Borrowers Borrower may, upon not less than one Business Day's ’s prior written or telephonic notice confirmed in writing to Administrative Agent, provided that failure to give such written confirmation shall not affect the validity of such telephonic notice, (which original written or telephonic notice Administrative Agent will promptly transmit by facsimile or telephone to each Lender), at any time and from time to time, time terminate in whole or permanently reduce in part, without premium or penalty, (a) the Revolving Loan Commitments in an amount up to the amount by which the Revolving Loan Commitments exceed the aggregate Total Utilization of Revolving Loans outstanding at the time of such proposed termination or reduction or (b) the Letter of Credit Loan Commitments in an amount up to the amount by which the Letter of Credit Commitments exceed the Letter of Credit Usage at the time of such proposed termination or reduction; provided that any such partial reduction of either the Revolving Loan Commitments or the Letter of Credit Commitments shall be in an aggregate minimum amount of Five Hundred Thousand Dollars ($1,000,000 500,000) and integral multiples of One Hundred Thousand Dollars ($1,000,000 100,000) in excess of that amount. Borrowers' Borrower’s notice to Administrative Agent (who shall promptly notify each Revolving Lender or Letter of Credit Lender, as applicable, of such notice) 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 any of the Revolving Loan Commitments shall be effective on the date specified in Company's Borrower’s notice and shall reduce the particular type of Revolving Loan Commitment of each Revolving Lender proportionately to its Pro Rata Share. No such voluntary reduction of the Commitments shall be permitted if such reduction would result in (1) the Revolving Loan Commitments being less than the aggregate principal amount of all outstanding Revolving Loans, or (2) the aggregate Letter of Credit Commitments being less than the aggregate Letter of Credit Usage then in effect.

Voluntary Reductions of Commitments. Borrowers Borrower may, upon not less than one Business Day's ’s prior written or telephonic notice confirmed in writing to Administrative Agent, provided that failure to give such written confirmation shall not affect the validity of such telephonic notice, (which original written or telephonic notice Administrative Agent will promptly transmit by telefacsimile or telephone to each Lender), at any time and from time to time, time terminate in whole or permanently reduce in part, without premium or penalty, (a) the Revolving Loan Commitments in an amount up to the amount by which the Revolving Loan Commitments exceed the aggregate Total Utilization of Revolving Loans outstanding at the time of such proposed termination or reduction or (b) the Letter of Credit Loan Commitments in an amount up to the amount by which the Letter of Credit Commitments exceed the Letter of Credit Usage at the time of such proposed termination or reduction; provided that any such partial reduction of either the Revolving Loan Commitments or the Letter of Credit Commitments shall be in an aggregate minimum amount of Five Hundred Thousand Dollars ($1,000,000 500,000) and integral multiples of One Hundred Thousand Dollars ($1,000,000 100,000) in excess of that amount. Borrowers' Borrower’s notice to Administrative Agent (who shall promptly notify each Revolving Lender or Letter of Credit Lender, as applicable, of such notice) 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 any of the Revolving Loan Commitments shall be effective on the date specified in Company's Borrower’s notice and shall reduce the particular type of Revolving Loan Commitment of each Revolving Lender proportionately to its Pro Rata Share. No Any such voluntary reduction of the Revolving Loan Commitments shall be permitted if such reduction would result applied as specified in (1) the Revolving Loan Commitments being less than the aggregate principal amount of all outstanding Revolving Loans, or (2) the aggregate Letter of Credit Commitments being less than the aggregate Letter of Credit Usage then in effectsubsection 2.4B(iv).

Voluntary Reductions of Commitments. Borrowers Company may, upon not less than one three Business Day's Days' prior written or telephonic notice confirmed in writing to Administrative AgentAgent (which original written or telephonic notice Administrative Agent will promptly transmit by telefacsimile or telephone to each Lender), at any time and from time to time, time terminate in whole or permanently reduce in part, without premium or penalty, (a) the Revolving Loan Commitments in an amount up to the amount by which the Revolving Loan Commitments exceed the aggregate Total Utilization of Revolving Loans outstanding Loan Commitments at the time of such proposed termination or reduction or (b) the Letter of Credit Acquisition Term Loan Commitments in an amount up to the amount by which the Letter of Credit Acquisition Term Loan Commitments exceed the Letter aggregate principal amount of Credit Usage at the time of such proposed termination or reductionoutstanding Acquisition Term Loans; provided that any such partial reduction of either the Revolving Loan Commitments or the Letter of Credit Acquisition Term Loan Commitments shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $1,000,000 500,000 in excess of that amount. Borrowers' Company's notice to Administrative Agent (who shall promptly notify each Revolving Lender or Letter of Credit Lender, as applicable, of such notice) 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 any of the Revolving Loan Commitments or the Acquisition Term Loan Commitments shall be effective on the date specified in Company's notice and shall reduce the particular type of Revolving Loan Commitment or the Acquisition Term Loan Commitments, as applicable, of each Lender proportionately to its Pro Rata Share. No such voluntary reduction of the Commitments shall be permitted if such reduction would result in (1) the Revolving Loan Commitments being less than the aggregate principal amount of all outstanding Revolving Loans, or (2) the aggregate Letter of Credit Commitments being less than the aggregate Letter of Credit Usage then in effect.

Voluntary Reductions of Commitments. Borrowers may, upon not less than one three Business Day's Days' prior written or telephonic notice confirmed in writing to Administrative Agent, Lender at any time and from time to time, time terminate in whole or permanently reduce in part, without premium or penalty, (ai) the Revolving Borrowing Base Loan Commitments Commitment in an amount up to the amount by which the Revolving Borrowing Base Loan Commitments exceed Commitment exceeds the aggregate Revolving principal amount of the Borrowing Base Loans outstanding at the time of such proposed termination or reduction or and/or (bii) the Letter of Credit Commitments Overadvance Loan Commitment in an amount up to the amount by which the Letter Overadvance Loan Commitment exceeds the principal amount of Credit Commitments exceed the Letter of Credit Usage Overadvance Loans outstanding at the time of such proposed termination or reduction; provided that any such partial reduction of either the Revolving Loan Commitments or the Letter of Credit Commitments shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $1,000,000 in excess of that amount; and provided further that, the aggregate Commitments shall not be reduced to less than $20,000,000 pursuant to this subsection 2.4A(ii) except pursuant to a termination in whole of the Commitments. Borrowers' notice to Administrative Agent (who shall promptly notify each Revolving Lender or Letter of Credit Lender, as applicable, of such notice) shall designate (i) the date (which shall be a Business Day) of such termination or reduction, (ii) the Type(s) of Commitment(s) to which each reduction applies and (iii) the amount of any partial reductionreduction of the applicable Type(s) of Commitments, and such termination or reduction of any of the Commitments shall be effective on the date specified in Company's notice and shall reduce the particular type of Commitment of each Lender proportionately to its Pro Rata Share. No such voluntary reduction of the Commitments shall be permitted if such reduction would result in (1) the Revolving Loan Commitments being less than the aggregate principal amount of all outstanding Revolving Loans, or (2) the aggregate Letter of Credit Commitments being less than the aggregate Letter of Credit Usage then in effectBorrowers' notice.