Common use of Voluntary Terminations Clause in Contracts

Voluntary Terminations. The Company shall have the privilege upon 3 Business Days' prior notice to the Agent (which shall promptly notify the Lenders) to ratably terminate the Revolving Credit Commitments in whole or in part (but if in part then in the amount of $1,000,000 or such greater amount which is an integral multiple of $1,000,000). No partial terminations of the Revolving Credit Commitments may be made below the L/C Commitment then in effect, unless the L/C Commitment is concurrently reduced by a like amount. Not later than the termination date stated in such notice, there shall be made such payments to the Agent as may be necessary to reduce the sum of the aggregate outstanding principal amount of the relevant Loans to the amount to which the relevant Commitments have been reduced, together with, in the case of a termination in whole, all interest, fees and other amounts due on the Obligations. The foregoing to the contrary notwithstanding, (i) no termination of the Revolving Credit Commitment may be effected hereunder if as a result thereof the outstanding aggregate amount of L/C Obligations would exceed the L/C Commitment as reduced by such termination and (ii) the Revolving Credit Commitments may not be terminated below $10,000,000 except concurrently with their termination in whole. No termination of the Commitments may be reinstated.

Voluntary Terminations. The Company shall have the privilege upon 3 1 Business Days' Day prior notice to the Agent (which shall promptly notify the Lenders) to ratably terminate the Revolving Credit Commitments and/or the Term Loan Commitments in whole or in part (but if in part then in the amount of $1,000,000 5,000,000 or such greater amount which is an integral multiple of $1,000,000). No partial terminations of the Revolving Credit Commitments may be made below the L/C Commitment then in effect, unless the L/C Commitment is concurrently reduced by a like amount. Not later than the termination date stated in such notice, there shall be made such payments to the Agent as may be necessary to reduce the sum of the aggregate outstanding principal amount of the relevant Loans to the amount to which the relevant Commitments have been reduced, together with, with (x) any amount due the Lenders under Section 2.8 hereof and (y) in the case of a termination in whole, all interest, fees and other amounts due on the Obligations. The foregoing to the contrary notwithstanding, (i) no termination of the Revolving Credit Commitment may be effected hereunder if as a result thereof the outstanding aggregate amount of L/C Obligations would exceed the L/C Commitment as reduced by such termination and (ii) the Revolving Credit relevant Commitments may not be terminated below $10,000,000 except concurrently with their termination in whole. No termination of the Commitments may be reinstated.