Voluntary Reduction. The Borrower shall have the right at any time and from time to time, upon at least three # Business Days prior irrevocable written notice to the Administrative Agent, to permanently reduce, without premium or penalty, # the entire Revolving Credit Commitment at any time or # portions of the Revolving Credit Commitment, from time to time, in an aggregate principal amount not less than or any whole multiple of in excess thereof. Any reduction of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage. All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination. Notwithstanding the foregoing, any notice to reduce the Revolving Credit Commitment delivered in connection with any refinancing of all of the Credit Facility with the proceeds of such refinancing or of any incurrence of Indebtedness or the occurrence of some other identifiable event or condition, may be, if expressly so stated to be, contingent upon the consummation of such refinancing or incurrence or occurrence of such identifiable event or condition and may be revoked by the Borrower in the event such contingency is not met (provided that the failure of such contingency shall not relieve the Borrower from its obligations in respect thereof under [Section 5.9]).
Voluntary Termination or Reduction. The Borrower may at any time terminate, or from time to time reduce, the Commitments of any Class; provided that # each reduction of the Commitments of a Class shall be in an amount that is (or, if less, the entire remaining amount of the Commitments of any Class) or a larger multiple of in excess thereof and # the Borrower shall not terminate or reduce the Commitments of either Class if, after giving effect to any concurrent prepayment of the Syndicated Loans of such Class in accordance with [Section 2.10], the total Revolving Credit Exposures of such Class would exceed the total Commitments of such Class.
Notice of Voluntary Termination or Reduction. The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph # of this Section at least three Business Days prior to the effective date of such termination or reduction (or such later time as the Administrative Agent may agree), specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the applicable of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments of a Class delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or any other transaction, in which case such notice may be revoked or extended by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not or will not be satisfied.
The Borrower may at any time terminate, or from time to time reduce, the Aggregate Commitments; provided that # each reduction of the Aggregate Commitments shall be in an amount that is an integral multiple of and # the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect to any concurrent prepayment of the Revolving Loans in accordance with [Section 2.09], the Total Credit Exposure would exceed the Aggregate Commitments.
Maximum Reduction. The maximum aggregate reduction with respect to any Licensed Product in any country during any Calendar Quarter pursuant to [Section 7.4.4] shall be capped at of the amount of the royalty that would be payable in respect of Net Sales in such country under [Section 7.4.3], prior to any such reductions, and any unused portions of the reduction shall be carried-forward in future Calendar Quarters.
Voluntary Agreement. Pennypacker acknowledges and states that he has entered into this Agreement knowingly and voluntarily.
Voluntary Termination. Employee acknowledges his prior expression of a desire to terminate his employment with Albany through voluntary retirement and his agreement to delay such retirement in consideration of the promises made by Albany herein. Accordingly, Employee re-confirms his decision to resign his employment and retire no later than and thus hereby elects to retire as of in the event his employment has not been terminated by either party prior to that date. Albany accepts such election and the parties agree that such shall be considered and treated as a voluntary termination of employment by Employee as of such date.
Voluntary Prepayments. Except as otherwise provided in this [Section 2.4], shall not have the right to prepay the Loan (either in whole or in part). may elect, at its option and upon thirty (30) days prior written notice to (or such shorter period of time as may be permitted by in its sole discretion), which election shall be irrevocable, to prepay the Debt in whole (but not in part) on any Payment Date so long as the Exit Fee and the Minimum Interest Payment Amount, in each case to the extent applicable, is paid in accordance with this [Section 2.4]; provided, however, if for any reason prepays the Loan on a date other than a Payment Date, shall also pay # all interest which would have accrued on the amount of the Loan had the Loan actually been repaid on the Payment Date next occurring following the date of such prepayment (such amount, the “Interest Shortfall”) and # the Breakage Costs. As a condition to any voluntary prepayment, the notice of prepayment may not be given to more than ninety (90) days prior to the Payment Date upon which prepayment is to be made and hereby agrees that, in the event delivers a notice and fails to prepay the Loan in accordance with such notice and the terms of this [Section 2.4], shall pay all reasonable out‑of‑pocket costs and expenses incurred by , including, without limitation, any Breakage Costs or similar expenses, as a result of such failure.
Voluntary Prepayment. Co-Borrowers shall have the option to prepay all, but not less than all, of the Growth Capital Advances advanced by Bank under this Agreement, provided Co-Borrowers # deliver written notice to Bank of its election to prepay such Growth Capital Advances at least ten (10) Business Days prior to such prepayment, # pays, on the date of such prepayment # all outstanding principal, plus accrued and unpaid interest thereon, # the Final Payment, # the Prepayment Fee, and # all other sums, if any, that shall have become due and payable hereunder in connection with the Growth Capital Advances.
Voluntary Prepayment. may prepay the Obligations in whole (but not in part) at any time; provided, that no prepayment in respect of Revolving B Advances shall be made unless the Revolving A Facility Usage has been reduced to zero.
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