Voluntary Termination or Reduction of Commitment. Borrower may, upon not less than five Business Days’ prior written notice to Administrative Agent, terminate the Lenders’ Commitment to make Loans to Borrower or issue Letters of Credit for Borrower’s account, or permanently reduce the Maximum Commitment Amount by a minimum amount of $5,000,000, unless, after giving effect thereto and to any prepayments of Loans made on the effective date thereof, the sum of the aggregate principal amount of (i) the Outstanding Amount of the Loans and (ii) the Outstanding Amount of L/C Obligations would exceed the Availability. Once reduced in accordance with this Section 2.7, the Maximum Commitment Amount may not be increased. Any reduction of the Commitment amounts shall be applied to each Lender according to its Pro Rata Share. No commitment or extension fees paid prior to the effective date of any reduction of the Maximum Commitment Amount or termination of the Lenders’ and Swing Line Lender’s commitment(s) to make Loans to Borrower or issue Letters of Credit for Borrower’s account shall be refunded, and all accrued Facility Fee for the period up to but not including the effective date of any reduction or termination of the Commitments shall be payable on the effective date of such reduction or termination.
Voluntary Termination or Reduction of Commitment. At any time prior to the Maturity Date, Borrower may, upon not less than five (5) Business Days’ prior written notice to the Administrative Agent, terminate the Commitment in effect or permanently reduce the Commitment in effect by an aggregate minimum amount of Twenty Million Dollars ($20,000,000) or any multiple of Five Million Dollars ($5,000,000) in excess thereof, provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto and to any prepayment of Advances made on the effective date of such termination or reduction, as the case may be, the then outstanding principal amount of the Advances would exceed the Commitment in effect; provided further, however, that once terminated or reduced in accordance with this Section 2.8, the Commitment in effect may not thereafter be reinstated or increased (provided that, if the Commitment is reduced (but not terminated) pursuant to this Section 2.8, the Commitment may thereafter be increased pursuant to Section 2.9) and provided further, however, that although the Commitment in effect may be terminated entirely pursuant to this Section 2.8, no partial termination shall result in the Commitment being reduced to below One Hundred Million Dollars ($100,000,000). All accrued and unpaid fees due under Section 2.5 with respect to the portion of the Commitment in effect being terminated or reduced shall be paid to the Administrative Agent on the funding date of such termination or reduction.
Voluntary Termination or Reduction of Commitment. Borrower may, upon not less than five (5) Business Days’ prior notice to Lender, terminate the Commitment or permanently reduce the Commitment by a minimum amount of Five Million Dollars ($5,000,000); provided that no such termination or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Loan made on the effective date thereof, the outstanding amount of the Loan would exceed the amount of the Commitment and, provided further, that once reduced in accordance with this section, the Commitment may not be increased. If the Commitment is terminated in its entirety, all accrued commitment fees to but not including the effective date of such termination.
Voluntary Termination or Reduction of Commitment. (a) The Company (on its own behalf and as agent for the Local Borrowing Subsidiaries) shall have the right at any time, upon not less than five Business Days’ notice to the Administrative Agent, to terminate or, from time to time, permanently reduce the Aggregate Commitment, subject to the provisions of Section 7.7(g) and Section 7.11, with any such voluntary reduction (i) being in an amount equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (ii) reducing permanently the amount of the Aggregate Commitment then in effect.
Voluntary Termination or Reduction of Commitment. The Company may, upon not less than five Business Days' prior notice to the Bank, terminate the Commitment, or permanently reduce the Commitment by a minimum amount of $1,000,000, or any multiple of $1,000,000 in excess thereof; unless, after giving effect thereto and to any prepayments of Loans made on the effective date thereof, the then-outstanding principal amount of the Loans would exceed the amount of the Commitment then in effect. Once reduced in accordance with this Section, the Commitment may not be increased. All accrued commitment fees to, but not including the effective date of any reduction or termination of the Commitment, shall be paid on the effective date of such reduction or termination.
Voluntary Termination or Reduction of Commitment. APLP may, upon prior written notice to AGP, terminate the Commitment or permanently reduce the Commitment by an aggregate minimum amount of $1,000,000 or any multiple of $1,000,000 in excess thereof. At no time shall the amount of outstanding Loans exceed the amount of the Commitment.
Voluntary Termination or Reduction of Commitment. The Company may, upon not less than ninety (90) days' prior written notice to the Administrative Agent, terminate the Banks' commitment to make Loans to the Company, or permanently reduce the Maximum Commitment Amount by a minimum amount of $1,000,000.00 or any multiple of $1,000,000.00 in excess thereof; provided, however, that the Company shall reduce the Maximum Commitment Amount from time to time so as not to exceed the "Maximum Commitment Amount" under and as defined in the Secured Loan Agreement. Once reduced in accordance with this Section 2.6, the Maximum Commitment Amount may not be increased. Any reduction of the commitment amounts shall be applied to each Bank according to its Pro Rata Share. 2.7
Voluntary Termination or Reduction of Commitment. The Borrower may, (i) at the end of any Quarter and upon not less than five Business Days' prior notice to the Administrative Agent (which shall promptly notify each Bank thereof), terminate the Aggregate Commitment, or (ii) after the Aggregate Commitment has been increased to $170,000,000 for a period of not less than six months, and only on a one time basis, at the end of any Quarter and upon not less than five Business Days' prior notice to the Administrative Agent (which shall promptly notify each Bank thereof), permanently reduce the Aggregate Commitment by an aggregate minimum amount of $10,000,000 or any integral multiple of $10,000,000 in excess thereof, up to an aggregate maximum amount of $30,000,000; PROVIDED that no such termination or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Advances or Swing-Line Advances made on the effective date thereof, the then outstanding principal amount of all Advances, Swing-Line Advances and Letters of Credit issued and outstanding would exceed the amount of the Aggregate Commitment then in effect and, PROVIDED, FURTHER, that once reduced in accordance with this Section, the Aggregate Commitment may not be increased without the written approval of the Administrative Agent and each Bank. Any reduction of the Aggregate Commitment shall be applied to each Bank's Revolving Commitment in accordance with such Bank's Commitment Percentage. All accrued interest, and all accrued fees described in Section 2.11 hereof, to, but not including, the effective date of any reduction or termination of the Aggregate Commitment, shall be paid on the effective date of such reduction or termination. The Borrower shall reimburse each Bank and hold each Bank harmless from any loss or expense which such Bank may sustain or incur as a consequence of any reduction or termination of the Aggregate Commitment which is effective, with respect to a LIBO Rate Advance, on a day that is not the last day of the Interest Period for such LIBO Rate Advance, as provided in Section 3.04 below.
Voluntary Termination or Reduction of Commitment. The Company may, upon not less than ninety (90) days' prior written notice to the Administrative Agent, terminate the Banks' commitment to make Loans to the Company or issue Letters of Credit for the Company's account, or permanently reduce the Maximum Commitment Amount by a minimum amount of $1,000,000.00 or any multiple of $1,000,000.00 in excess thereof, unless, after giving effect thereto and to any prepayments of Loans made on the effective date thereof, the sum of (i) the aggregate principal amount of the then-outstanding Loans other than Swing Loans and (ii) the then-outstanding but undrawn Letters of Credit would exceed the Availability; provided, however, that the Maximum Commitment Amount shall not at any time be less than the "Maximum Commitment Amount" under and as defined in the Unsecured Loan Agreement at such time. Once reduced in accordance with this Section 2.6, the Maximum Commitment Amount may not be increased. Any reduction of the commitment amounts shall be applied to each Bank according to its Pro Rata Share. No commitment or extension fees paid prior to the effective date of any reduction of the Maximum Commitment Amount or termination of the Bank's commitment to make Loans to the Company or issue Letters of Credit for the Company's account shall be refunded. 2.7
Voluntary Termination or Reduction of Commitment. The Company may, upon not less than five Business Days' prior notice to the Bank, at any time before the Revolving Termination Date, terminate the Bank's commitment to make Loans or permanently reduce the amount of the Commitment by a minimum amount of $1,000,000 or any whole multiple of $1,000,000 in excess thereof; unless, after giving effect thereto and to any prepayments of Loans made on the effective date thereof, the Effective Amount of all Loans and L/C Obligations would exceed the amount of the Commitment then in effect and, provided, further, that once reduced in accordance with this Section, the Commitment may not be increased. If the Commitment is terminated in its entirety, all accrued Commitment Fees to the effective date of such termination shall be payable on the effective date of such termination without any premium or penalty.
