Common use of Commitment Reduction Clause in Contracts

Commitment Reduction. At the Borrowers' option and upon at least five Business Days' prior irrevocable written notice to the Agent, with such notice specifying the amount and the date of such reduction, the Borrowers may permanently reduce the Aggregate Commitment in whole at any time or in part from time to time; provided, however, that each partial reduction of the Aggregate Commitment shall be in an aggregate amount equal to at least $5,000,000 or an integral multiple of $1,000,000. The Agent shall promptly notify each Lender (by telecopy or by telephone) of such requested Commitment reduction. Any mandatory or optional prepayments pursuant to Sections 2.26 and 2.28 shall not, without further direction from the Borrowers, result in any permanent reduction of the Commitments. Reductions of the Aggregate Commitment pursuant to this Section 2.8 shall automatically effect a reduction of the Commitment of each Lender to an amount equal to the product of (i) the Aggregate Commitment of all Lenders, as reduced pursuant to this Section 2.8 and (ii) the Commitment Percentage of such Lender, in each case determined immediately prior to such reduction of the Aggregate Commitment on such date. Any such Commitment reduction shall be applied as the Borrowers direct, but in the absence of any such direction, all sublimits for Loans to Pacific Germany, Letters of Credit and Swingline Loans shall be ratably reduced. Upon each reduction of the Aggregate Commitment, the Borrowers shall (i) pay the unused commitment fee, payable pursuant to Section 2.11, accrued on the amount of the Aggregate Commitment so reduced through the date of such reduction, (ii) prepay the amount, if any, by which the sum of (a) the aggregate unpaid principal amount of the Loans, (b) the aggregate Letter of Credit Amount of all Letters of Credit outstanding and (c) the aggregate amount of unreimbursed drawings under all Letters of Credit exceeds the amount of the Aggregate Commitment as so reduced, together with accrued interest on the amount being prepaid to the date of such prepayment (or, with respect to outstanding Letters of Credit, make a cash collateral deposit in an amount equal to such excess to the extent such excess is not corrected by the foregoing prepayment), (d) prepay the amount by which the Loans outstanding to any Lender exceeds its Commitment Percentage as so reduced and (e) compensate the Lenders for their funding costs, if any, in accordance with Section 3.1(i).

Commitment Reduction. At the Borrowers' Borrower's option and upon at least -------------------- five Business Days' prior irrevocable written notice to the Agent, with such notice specifying the amount and the date of such reduction, the Borrowers Borrower may permanently reduce the Aggregate Commitment in whole at any time or in part from time to time; provided, however, that (i) each partial reduction of the Aggregate Commitment shall be in an aggregate amount equal to at least $5,000,000 or an integral multiple of $1,000,0001,000,000 and (ii) the Borrower may not reduce the Aggregate Commitment below an amount equal to the sum of all Loans and Letters of Credit outstanding together with unreimbursed drawings under Letters of Credit. The Agent shall promptly notify each Lender (by telecopy or by telephone) of such requested Commitment reduction. Any mandatory or optional prepayments pursuant to Sections 2.26 and 2.28 In addition, the Aggregate Commitments shall not, without further direction from automatically terminate upon the Borrowers, result in any permanent reduction occurrence of the Commitmentsa Change of Control. Reductions of the Aggregate Commitment pursuant to this Section 2.8 2.7 shall automatically effect a reduction of the Commitment of each Lender to an amount equal to the product of (i) the Aggregate Commitment of all Lenders, as reduced pursuant to this Section 2.8 2.7 and (ii) the Commitment Percentage of such Lender, in each case determined immediately prior to such reduction of the Aggregate Commitment on such date. Any such Commitment reduction shall be applied as the Borrowers direct, but in the absence of any such direction, all sublimits for Loans to Pacific Germany, Letters of Credit and Swingline Loans shall be ratably reducedBorrower directs. Upon each reduction of the Aggregate Commitment, the Borrowers Borrower shall (i) pay the unused commitment feeCommitment Fee, payable pursuant to Section 2.112.10, accrued on the amount of the Aggregate Commitment so reduced through the date of such reduction, (ii) prepay the amount, if any, by which the sum of (a) the aggregate unpaid principal amount of the Loans, (b) the aggregate Letter of Credit Amount of all Letters of Credit outstanding and (c) the aggregate amount of unreimbursed drawings under all Letters of Credit exceeds the amount of the Aggregate Commitment as so reduced, together with accrued interest on the amount being prepaid to the date of such prepayment (or, with respect to outstanding Letters of Credit, make a cash collateral deposit in an amount equal to such excess to the extent such excess is not corrected by the foregoing prepayment), (d) prepay the amount by which the Loans outstanding to any Lender exceeds its Commitment Percentage as so reduced and (e) compensate the Lenders for their funding costs, if any, in accordance with Section 3.1(i).

Commitment Reduction. At the Borrowers' Borrower's option and upon at least five Business Days' prior irrevocable written notice to the Agent, with such notice specifying the amount and the date of such reduction, the Borrowers Borrower may permanently reduce the Aggregate Commitment in whole at any time or in part from time to time; provided, however, that each partial reduction of the Aggregate Commitment shall be in an aggregate amount equal to at least $5,000,000 1,000,000 or an integral multiple of $1,000,000. The Agent shall promptly notify each Lender (by telecopy or by telephone) of such requested Commitment reduction. Any mandatory or optional prepayments pursuant to Sections 2.26 and 2.28 shall not, without further direction from the Borrowers, result in any permanent reduction of the Commitments. Reductions of the Aggregate Commitment pursuant to this Section 2.8 2.6 shall automatically effect a reduction of the Commitment of each Lender to an amount equal to the product of (i) the Aggregate Commitment of all Lenders, as reduced pursuant to this Section 2.8 2.6 and (ii) the Commitment Percentage of such Lender, in each case determined immediately prior to such reduction of the Aggregate Commitment on such date. Any such Commitment reduction shall be applied as the Borrowers direct, but in the absence of any such direction, all sublimits for Loans to Pacific Germany, Letters of Credit and Swingline Loans shall be ratably reduced. Upon each reduction of the Aggregate Commitment, the Borrowers Borrower shall (i) pay the unused commitment fee, payable pursuant to Section 2.112.11(i), accrued on the amount of the Aggregate Commitment so reduced through the date of such reduction, (ii) prepay the amount, if any, by which the sum of (a) the aggregate unpaid principal amount of the Loans, (b) the aggregate Letter of Credit Amount of all Letters of Credit outstanding and (c) the aggregate amount of unreimbursed drawings under all Letters of Credit exceeds the amount of the Aggregate Commitment as so reduced, together with accrued interest on the amount being prepaid to the date of such prepayment (or, with respect to outstanding Letters of Credit, make a cash collateral deposit in an amount equal to such excess to the extent such excess is not corrected by the foregoing prepayment), ) and (d) prepay the amount by which the Loans outstanding to any Lender exceeds its Commitment Percentage as so reduced and (e) compensate the Lenders for their funding costs, if any, in accordance with Section 3.1(i).3.1. 2.7

Commitment Reduction. At the Borrowers' Borrower's option and upon at least five Business Days' prior irrevocable written notice to the Agent, with such notice specifying the amount and the date of such reduction, the Borrowers Borrower may permanently reduce the Aggregate Commitment in whole at any time or in part from time to time; provided, however, that each partial reduction of the Aggregate Commitment shall be in an aggregate amount equal to at least $5,000,000 1,000,000 or an integral multiple of $1,000,000100,000. The Agent shall promptly notify each Lender (by telecopy or by telephone) of such requested Commitment reduction. Any mandatory or optional prepayments pursuant to Sections 2.26 and 2.28 shall not, without further direction from the Borrowers, result in any permanent reduction of the Commitments. Reductions of the Aggregate Commitment pursuant to this Section 2.8 2.7 shall automatically effect a reduction of the Commitment of each Lender to an amount equal to the product of (i) the Aggregate Commitment of all Lenders, as reduced pursuant to this Section 2.8 2.7 and (ii) the Commitment Percentage of such Lender, in each case determined immediately prior to such reduction of the Aggregate Commitment on such date. Any such Commitment reduction shall be applied as the Borrowers directBorrower directs, but in the absence of any such direction, all sublimits for Loans to Pacific Germany, Letters of Credit and Swingline Loans shall be ratably reduced. Upon each reduction of the Aggregate Commitment, the Borrowers Borrower shall (i) pay the unused commitment fee, payable pursuant to Section 2.112.10, accrued on the amount of the Aggregate Commitment so reduced through the date of such reduction, (ii) prepay the amount, if any, by which the sum of (a) the aggregate unpaid principal amount of the Loans, (b) the aggregate Letter of Credit Amount of all Letters of Credit outstanding and (c) the aggregate amount of unreimbursed drawings under all Letters of Credit exceeds the amount of the Aggregate Commitment as so reduced, together with accrued interest on the amount being prepaid to the date of such prepayment (or, with respect to outstanding Letters of Credit, make a cash collateral deposit in an amount equal to such excess to the extent such excess is not corrected by the foregoing prepayment), ) and (d) prepay the amount by which the Loans outstanding to any Lender exceeds its Commitment Percentage as so reduced and (e) compensate the Lenders for their funding costs, if any, in accordance with Section 3.1(i).