Common use of Voluntary Reductions Clause in Contracts

Voluntary Reductions. (i) The Initial Borrower shall have the right to terminate or permanently reduce the unused portion of the Committed Amount or the Alternative Currency Sub Limit at any time or from time to time upon not less than three (3) Business Days’ (or four (4) Business Days in the case of the Alternative Currency Sub Limit) prior written notice to the Administrative Agent (which shall notify the Lenders thereof as soon as practicable) of such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of (except in connection with any reduction permitted under Section 5.21) $1,000,000 or a whole multiple of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; provided that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the Advances Outstanding would exceed the aggregate Committed Amount and/or the Alternative Currency Sub Limit then in effect (or in the case of any Class of Lenders, the Advances Outstanding of such Class of Lenders would exceed the Committed Amount and/or Alternative Currency Sub-Limit then in effect of such Class of Lenders); provided, further that, in the case of the proposed reduction or termination of the Alternative Currency Sub Limit, no Default or Event of Default shall have occurred and be continuing at the time of such proposed reduction or termination or would result from such reduction or termination.

Voluntary Reductions. (i) The Initial Borrower shall have the right to terminate Commitments may be terminated or permanently reduce reduced by the unused portion of the Committed Amount Borrower in whole or the Alternative Currency Sub Limit at any time or from time to time in part upon not less than three one (31) Business Days’ (or four (4) Business Days in the case of the Alternative Currency Sub Limit) Day's prior written notice to the Administrative Agent Agent; provided that (which shall notify the Lenders thereof as soon as practicablei) of such termination or after giving effect to any voluntary reduction, which notice shall specify the effective date thereof and the aggregate principal amount of any such reduction which Loans plus LOC Obligations outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced, and (ii) partial reductions shall be in a minimum amount principal amounts of (except $3,000,000, and in connection with any reduction permitted under Section 5.21) $1,000,000 or a whole multiple integral multiples of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agentthereof; provided further, that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the Advances Outstanding sum of the then outstanding aggregate principal amount of the Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans would exceed the aggregate Aggregate Revolving Committed Amount; and provided further, that with respect to the portion of the Commitments comprising Additional Revolving Loans, only one such reduction shall be permitted to be made in any calendar year. Notwithstanding the foregoing to the contrary, so long as the Aggregate Revolving Committed Amount and/or shall not have been previously reduced below $150,000,000 pursuant to this Section 2.9(a), then the Alternative Currency Sub Limit then portion of the Commitments comprising Additional Revolving Loans, if reduced in effect (whole or in the case of any Class of Lenderspart pursuant to this Section 2.9(a), the Advances Outstanding of such Class of Lenders would exceed the Committed Amount and/or Alternative Currency Sub-Limit then in effect of such Class of Lenders); provided, further that, may be reinstated from time to time in the case form of new Additional Revolving Loans to the proposed reduction or termination of the Alternative Currency Sub Limit, no Default or Event of Default shall have occurred and extent then permitted to be continuing at the time of such proposed reduction or termination or would result from such reduction or terminationmade under Section 2.5 hereof.

Voluntary Reductions. (i) The Initial Borrower shall have the right to terminate or permanently reduce the unused portion of the Committed Amount or the Alternative Currency Sub Limit at any time or from time to time upon not less than three (3) Business Days’ (or four (4) Business Days in the case of the Alternative Currency Sub Limit) prior written notice to the Administrative Agent (which shall notify the Lenders thereof as soon as practicable) of such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of (except in connection with any reduction permitted under Section 5.21) $1,000,000 or a whole multiple of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; provided that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the Advances Outstanding would exceed the aggregate Committed Amount and/or the Alternative Currency Sub Limit then in effect (or in the case of any Class of Lenders, the Advances Outstanding of such Class of Lenders would exceed the Committed Amount and/or Alternative Currency Sub-Limit then in effect of such Class of Lenders)effect; provided, further that, in the case of the proposed reduction or termination of the Alternative Currency Sub Limit, no Default or Event of Default shall have occurred and be continuing at the time of such proposed reduction or termination or would result from such reduction or termination.

Voluntary Reductions. (i) The Initial Borrower shall have the right to terminate Commitments may be terminated or permanently reduce reduced by the unused portion of the Committed Amount Borrower in whole or the Alternative Currency Sub Limit at any time or from time to time in part upon not less than three one (31) Business Days’ (or four (4) Business Days in the case of the Alternative Currency Sub Limit) Day's prior written notice to the Administrative Agent Agent; provided that (which shall notify the Lenders thereof as soon as practicablei) of such termination or after giving effect to any voluntary reduction, which notice shall specify the effective date thereof and the aggregate principal amount of any such reduction which Loans plus LOC Obligations outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced, and (ii) partial reductions shall be in a minimum amount principal amounts of (except $3,000,000, and in connection with any reduction permitted under Section 5.21) $1,000,000 or a whole multiple integral multiples of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agentthereof; provided further, that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the Advances Outstanding sum of the then outstanding aggregate principal amount of the Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans would exceed the aggregate Aggregate Revolving Committed Amount; and provided further, that with respect to the portion of the Commitments comprising Additional Revolving Loans, only one such reduction shall be permitted to be made in any calendar year. Notwithstanding the foregoing to the contrary, so long as the Aggregate Revolving Committed Amount and/or shall not have been previously reduced below $250,000,000 pursuant to this Section 2.9(a), then the Alternative Currency Sub Limit then portion of the Commitments comprising Additional Revolving Loans, if reduced in effect (whole or in the case of any Class of Lenderspart pursuant to this Section 2.9(a), the Advances Outstanding of such Class of Lenders would exceed the Committed Amount and/or Alternative Currency Sub-Limit then in effect of such Class of Lenders); provided, further that, may be reinstated from time to time in the case form of new Additional Revolving Loans to the proposed reduction or termination of the Alternative Currency Sub Limit, no Default or Event of Default shall have occurred and extent then permitted to be continuing at the time of such proposed reduction or termination or would result from such reduction or terminationmade under Section 2.5 hereof.

Voluntary Reductions. (i) The Initial Borrower shall have the right to terminate or permanently reduce the unused portion of the Revolving Committed Amount or and/or the Alternative Currency Sub Limit Delayed Draw Term Loan Committed Amount at any time or from time to time upon not less than three (3) five Business Days’ prior notice (or four (4which notice may be made by fax) Business Days in the case of the Alternative Currency Sub Limit) prior written notice to the Administrative Agent (which shall notify the Revolving Lenders and/or the Delayed Draw Term Loan Lenders, as applicable, thereof as soon as practicable) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of (except in connection with any reduction permitted under Section 5.21) $1,000,000 or a whole multiple of $1,000,000 500,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; , provided that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, (i) with respect to termination or reduction of the Advances Outstanding Revolving Committed Amount, the sum of the outstanding Revolving Loans plus outstanding Swingline Loans plus LOC Obligations would exceed the aggregate Revolving Committed Amount and/or or (ii) with respect to termination or reduction of the Alternative Currency Sub Limit then in effect (or in the case of any Class of LendersDelayed Draw Term Loan Committed Amount, the Advances Outstanding sum of such Class of Lenders outstanding Delayed Draw Term Loans would exceed the Delayed Draw Term Loan Committed Amount and/or Alternative Currency Sub-Limit then in effect of such Class of Lenders); provided, further that, in the case of the proposed reduction or termination of the Alternative Currency Sub Limit, no Default or Event of Default shall have occurred and be continuing at the time of such proposed reduction or termination or would result from such reduction or terminationAmount.

Voluntary Reductions. (i) The Initial Borrower shall have the right to terminate Commitments may be terminated or permanently reduce reduced by the unused portion of the Committed Amount Borrower in whole or the Alternative Currency Sub Limit at any time or from time to time in part upon not less than three one (31) Business Days’ (or four (4) Business Days in the case of the Alternative Currency Sub Limit) Day’s prior written notice to the Administrative Agent Agent; provided that (which shall notify the Lenders thereof as soon as practicablei) of such termination or after giving effect to any voluntary reduction, which notice shall specify the effective date thereof and the aggregate principal amount of any such reduction which Loans plus LOC Obligations outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced, and (ii) partial reductions shall be in a minimum amount principal amounts of (except $3,000,000, and in connection with any reduction permitted under Section 5.21) $1,000,000 or a whole multiple integral multiples of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agentthereof; provided further, that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the Advances Outstanding sum of the then outstanding aggregate principal amount of the Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations plus outstanding Competitive Loans would exceed the aggregate Aggregate Revolving Committed Amount; and provided further, that with respect to the portion of the Commitments comprising Additional Revolving Loans, only one such reduction shall be permitted to be made in any calendar year. Notwithstanding the foregoing to the contrary, so long as the Aggregate Revolving Committed Amount and/or shall not have been previously reduced below $250,000,000 pursuant to this Section 2.9(a), then the Alternative Currency Sub Limit then portion of the Commitments comprising Additional Revolving Loans, if reduced in effect (whole or in the case of any Class of Lenderspart pursuant to this Section 2.9(a), the Advances Outstanding of such Class of Lenders would exceed the Committed Amount and/or Alternative Currency Sub-Limit then in effect of such Class of Lenders); provided, further that, may be reinstated from time to time in the case form of new Additional Revolving Loans to the proposed reduction or termination of the Alternative Currency Sub Limit, no Default or Event of Default shall have occurred and extent then permitted to be continuing at the time of such proposed reduction or termination or would result from such reduction or terminationmade under Section 2.5 hereof.

Voluntary Reductions. (i) The Initial Borrower shall have the right to terminate Commitments may be terminated or permanently reduce reduced by the unused portion of the Committed Amount Borrower in whole or the Alternative Currency Sub Limit at any time or from time to time in part upon not less than three one (31) Business Days’ (or four (4) Business Days in the case of the Alternative Currency Sub Limit) Day’s prior written notice to the Administrative Agent Agent; provided that (which shall notify the Lenders thereof as soon as practicablei) of such termination or after giving effect to any voluntary reduction, which notice shall specify the effective date thereof and the aggregate principal amount of any such reduction which Loans plus LOC Obligations outstanding shall not exceed the Aggregate Revolving Committed Amount, as reduced, and (ii) partial reductions shall be in a minimum amount principal amounts of (except $3,000,000, and in connection with any reduction permitted under Section 5.21) $1,000,000 or a whole multiple integral multiples of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agentthereof; provided further, that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the Advances Outstanding sum of the then outstanding aggregate principal amount of the Revolving Loans plus Swingline Loans plus LOC Obligations plus Competitive Loans would exceed the aggregate Aggregate Revolving Committed Amount.; and provided further, that with respect to the portion of the Commitments comprising Additional Revolving Loans, only one such reduction shall be permitted to be made in any calendar year. Notwithstanding the foregoing to the contrary, so long as the Aggregate Revolving Committed Amount and/or shall not have been previously reduced below $150,000,000 pursuant to this Section 2.9(a), then the Alternative Currency Sub Limit then portion of the Commitments comprising Additional Revolving Loans, if reduced in effect (whole or in the case of any Class of Lenderspart pursuant to this Section 2.9(a), the Advances Outstanding of such Class of Lenders would exceed the Committed Amount and/or Alternative Currency Sub-Limit then in effect of such Class of Lenders); provided, further that, may be reinstated from time to time in the case form of new Additional Revolving Loans to the proposed reduction or termination of the Alternative Currency Sub Limit, no Default or Event of Default shall have occurred and extent then permitted to be continuing at the time of such proposed reduction or termination or would result from such reduction or terminationmade under Section 2.5 hereof.

Voluntary Reductions. (i) The Initial Borrower shall have the right to terminate or permanently reduce the unused portion of the Dollar Revolving-1 Committed Amount or the Alternative Currency Sub Limit Multi-currency Revolving-1 Committed Amount at any time or from time to time upon not less than three (3) one Business Days’ (or four (4) Business Days in the case of the Alternative Currency Sub Limit) Day prior written notice to the Administrative Agent (which shall notify the Lenders thereof as soon as practicable) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of (except in connection with any reduction permitted under Section 5.21) $1,000,000 5,000,000 or a whole multiple of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; provided that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Revolving-1 Loans made on the effective date thereof, (i) the Advances Outstanding sum of the then outstanding aggregate principal amount of Dollar Revolving-1 Loans plus Swingline Loans plus Dollar LOC Obligations would exceed the aggregate Dollar Revolving-1 Committed Amount and/or or (ii) the Alternative Currency Sub Limit then in effect (or in outstanding aggregate principal Dollar Amount of Multi-currency Revolving-1 Loans plus the case Dollar Amount of any Class of Lenders, the Advances Outstanding of such Class of Lenders Multi-currency LOC Obligations would exceed the Multi-currency Revolving-1 Committed Amount. If the Borrower shall fail to specify in any such notice the 50 applicable portion of the Revolving-1 Committed Amount and/or Alternative Currency Sub-Limit to be reduced, then in effect of such Class of Lenders); provided, further that, in the case of the proposed reduction or termination of the Alternative Currency Sub Limit, no Default or Event of Default shall have occurred and be continuing at the time of such proposed reduction or termination or would result from such reduction or terminationshall be applied pro rata to the Dollar Revolving-1 Committed Amount and the Multi-currency Revolving-1 Committed Amount.

Voluntary Reductions. (i) The Initial Borrower shall have the right to terminate or permanently reduce the unused portion of the Revolving Committed Amount or the Alternative Currency Sub Limit at any time or from time to time upon not less than three five (35) Business Days’ (or four (4) Business Days in the case of the Alternative Currency Sub Limit) prior written notice to the Administrative Agent (which shall notify the Lenders thereof as soon as practicable) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of (except in connection with any reduction permitted under Section 5.21) $1,000,000 10,000,000 or a whole multiple of $1,000,000 5,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; provided that (i) no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the Advances Outstanding sum of the aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations would exceed the aggregate Revolving Committed Amount and/or the Alternative Currency Sub Limit then in effect and (ii) such voluntary reductions or in the case of any Class of Lenders, the Advances Outstanding of such Class of Lenders would exceed the Committed Amount and/or Alternative Currency Sub-Limit then in effect of such Class of Lenders); provided, further that, in the case terminations shall be applied pro rata to each of the proposed reduction Revolving Lenders; provided that if a Lender is a Lender with a Non-Extending Revolving Commitment and an Extended Revolving Commitment, such voluntary reductions or termination of the Alternative Currency Sub Limit, no Default or Event of Default terminations shall have occurred be applied first to such Lender’s Non-Extending Revolving Commitment and be continuing at the time of second to such proposed reduction or termination or would result from such reduction or terminationLender’s Extended Revolving Commitment.