Common use of Voluntary Termination or Reduction of Total Unutilized Revolving Loan Commitment Clause in Contracts

Voluntary Termination or Reduction of Total Unutilized Revolving Loan Commitment. (a) Upon at least two Business Days' prior written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent at the Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Banks), the Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Total Unutilized Revolving Loan Commitment; provided that (x) any such termination or partial reduction shall apply to proportionately and permanently reduce the Revolving Loan Commitment of each of the XX Xxxxx and (y) any partial reduction pursuant to this Section 3.02(a) shall be in the amount of at least $5,000,000 or any multiple of $1,000,000 in excess thereof.

Voluntary Termination or Reduction of Total Unutilized Revolving Loan Commitment. (a) Upon at least two Business Days' prior written notice (or telephonic tele- phonic notice promptly confirmed in writing) to the Administrative Agent at the its Notice Office (which notice the Administrative Agent shall promptly transmit to each of the Banks), the Borrower shall have the right, without premium or penalty, to terminate or partially reduce the Total Unutilized Revolving Loan Commitment; provided that (x) any such termination or partial reduction shall apply to proportionately and permanently reduce the Revolving Loan Commitment of each of the XX Xxxxx Banks and (y) any partial reduction pursuant to this Section 3.02(a) shall be in the amount of at least $5,000,000 or any multiple of $1,000,000 in excess thereof1,000,000.