Common use of Reductions and Cancellations Clause in Contracts

Reductions and Cancellations. Borrower may, from time to time upon three Banking Days’ written notice to Administrative Agent (who shall promptly deliver such notice to the Lenders), permanently reduce, by an amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, or cancel in its entirety, the unused portion of the Total Commitment. Notwithstanding anything in this Section 2.3.2 to the contrary, Borrower may not reduce or cancel any portion of the Total Commitment if, after giving effect to such reduction or cancellation, (a) the aggregate Revolving Credit Exposure of all Lenders then outstanding would exceed the Total Commitment or (b) such reduction or cancellation would cause a violation of any provision of this Agreement or the other Credit Facility Documents. Borrower shall pay to Administrative Agent any Facility Fee then due on such cancelled amount upon any such reduction or cancellation. From the effective date of any such reduction, the Facility Fee shall be computed on the basis of the Total Commitment (whether used or unused) as so reduced. Once reduced or cancelled, the Total Commitment may not be increased or reinstated, provided that the reduction of the Total Commitment shall not preclude a subsequent increase thereof in accordance with Section 2.3.3. Any reductions pursuant to this Section 2.3.2 shall be applied ratably among the Lenders in accordance with their respective Commitments.

Reductions and Cancellations. Borrower may, from time to time upon three Banking Days’ written notice to Administrative Agent (who shall promptly deliver such notice to the Lenders), permanently reduce, by an amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, thereof or cancel in its entirety, the unused portion of the Total Commitment. Notwithstanding anything in this Section 2.3.2 to the contrary, Borrower may not reduce or cancel any portion of the Total Commitment if, after giving effect to such reduction or cancellation, (a) the aggregate Revolving Credit Exposure principal amount of all Lenders Loans then outstanding would exceed the Total Commitment or (b) such reduction or cancellation would cause a violation of any provision of this Agreement or the other Credit Facility Documents. Borrower shall pay to Administrative Agent any Facility Commitment Fee and Utilization Fee then due on such cancelled amount upon any such reduction or cancellation. From the effective date of any such reduction, the Facility Commitment Fee and Utilization Fee shall be computed on the basis of the Total Commitment (whether used or unused) as so reduced. Once reduced or cancelled, the Total Commitment may not be increased or reinstated, provided that the reduction of the Total Commitment Commitments shall not preclude a subsequent increase thereof in accordance with Section 2.3.3. Any reductions pursuant to this Section 2.3.2 shall be applied ratably among the Lenders to each Lender’s respective Commitments in accordance with their respective CommitmentsSection 2.6.1.

Reductions and Cancellations. Borrower may, from time to time upon three Banking Days’ ' written notice to Administrative Agent (who shall promptly deliver such notice to the Lenders), permanently reduce, by an amount of $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof, thereof or cancel in its entirety, the unused portion of the Total Facility Commitment. Notwithstanding anything in this Section 2.3.2 2.2.2 to the contrary, Borrower may not reduce or cancel any portion of the Total Facility Commitment if, after giving effect to such reduction or cancellation, (a) the aggregate Revolving Credit Exposure principal amount of all Lenders Loans then outstanding would exceed the Total Facility Commitment or (b) such reduction or cancellation would cause a violation of any provision of this Agreement or the other Credit Facility Documents. Borrower shall pay to Administrative Agent any Facility Fee Fees then due on such cancelled amount upon any such reduction or cancellation. From the effective date of any such reduction, the Facility Fee Fees shall be computed on the basis of the Total Facility Commitment (whether used or unused) as so reduced. Once reduced or cancelled, the Total Facility Commitment may not be increased or reinstated, reinstated except as provided that the reduction of the Total Commitment shall not preclude a subsequent increase thereof in accordance with Section 2.3.32.2.3 below. Any reductions pursuant to this Section 2.3.2 2.2.2 shall be applied ratably among the Lenders to each Lender's respective Commitments in accordance with their respective CommitmentsSection 2.5.1.

Reductions and Cancellations. Borrower may, from time to time upon three Banking Days’ written notice to Administrative Agent (who shall promptly deliver such notice to the Lenders), permanently reduce, by an amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, . or cancel in its entirety, the unused portion of the Total Commitment. Notwithstanding anything in this Section 2.3.2 to the contrary, Borrower may not reduce or cancel any portion of the Total Commitment if, after giving effect to such reduction or cancellation, (a) the aggregate Revolving Credit Exposure of all Lenders then outstanding would exceed the Total Commitment or (b) such reduction or cancellation would cause a violation of any provision of this Agreement or the other Credit Facility Documents. Borrower shall pay to Administrative Agent any Facility Fee then due on such cancelled amount upon any such reduction or cancellation. From the effective date of any such reduction, the Facility Fee shall be computed on the basis of the Total Commitment (whether used or unused) as so reduced. Once reduced or cancelled, the Total Commitment may not be increased or reinstated, provided that the reduction of the Total Commitment shall not preclude a subsequent increase thereof in accordance with Section 2.3.3. Any reductions pursuant to this Section 2.3.2 shall be applied ratably among the Lenders in accordance with their respective Commitments.

Reductions and Cancellations. Borrower may, from time to time upon three Banking Days’ written notice to Administrative Agent (who shall promptly deliver such notice to the Lenders), permanently reduce, by an amount of $5,000,000 1,000,000 or an integral multiple of $1,000,000 in excess thereof, or cancel in its entirety, the unused portion of the Total Commitment. Notwithstanding anything in this Section 2.3.2 to the contrary, Borrower may not reduce or cancel any portion of the Total Commitment if, after giving effect to such reduction or cancellation, (a) the aggregate Revolving Credit Exposure of all Lenders then outstanding would exceed the Total Commitment or (b) such reduction or cancellation would cause a violation of any provision of this Agreement or the other Credit Facility Documents. Borrower shall pay to Administrative Agent any Facility Fee then due on such cancelled amount upon any such reduction or cancellation. From the effective date of any such reduction, the Facility Fee shall be computed on the basis of the Total Commitment (whether used or unused) as so reduced. Once reduced or cancelled, the Total Commitment may not be increased or reinstated, provided that the reduction of the Total Commitment shall not preclude a subsequent increase thereof in accordance with Section 2.3.3. Any reductions pursuant to this Section 2.3.2 shall be applied ratably among the Lenders in accordance with their respective Commitments.