Automatic Reduction and Termination Sample Clauses

Automatic Reduction and Termination. The Commitments of all Lenders shall be automatically reduced to zero at 5:00 p.m. on the Commitment Termination Date.
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Automatic Reduction and Termination. Subject to the provisions of Section 8.04, the Individual Lender Maximum Funding Amounts of each Lender shall be automatically reduced to zero at 5:00 p.m. on the Facility Termination Date.
Automatic Reduction and Termination. Subject to the provisions of Section 8.04, the Commitments of each Lender shall be automatically reduced to zero at 5:00 p.m. on the Commitment Termination Date.
Automatic Reduction and Termination. The Total Commitment (and the Commitment of each Lender) shall be automatically reduced to zero at the close of business on the Commitment Termination Date. The Borrower shall not terminate or reduce the Total Commitment (including, without limitation, pursuant to Section 2.05(b)) if, to the extent that after giving effect to such reduction or termination, a Commitment Shortfall shall exist.
Automatic Reduction and Termination. The Commitments of all Lenders shall be automatically reduced to (i) the aggregate outstanding principal balance of the Advances at 5:00 p.m. on the Scheduled Termination Date or (ii) zero on the date selected by the Required Lenders following acceleration as a result of the occurrence of an Event of Default pursuant to Section 6.02.
Automatic Reduction and Termination. (i) The Commitments of all Lenders shall be automatically reduced to zero at 5:00 p.m. on the Commitment Termination Date. (ii) If the sum of (a) the daily average of the Advances Outstanding and (b) the daily average of the aggregate Unfunded Advance Amounts for any period of six (6) consecutive months commencing on the day immediately following the last day of the Ramp-Up Period and ending on any Determination Date is less than 75% of the Facility Amount then in effect during such period, then on such Determination Date, upon not less than ten (10) Business Days prior written notice from the Administrative Agent to the Borrower, the Collateral Manager and the Equityholder, the aggregate amount of the Commitments of the Lenders shall be permanently reduced (pro rata, based on each Lender’s Percentage), to an aggregate amount equal to the greater of (x) the Advances Outstanding divided by 75% and (y) the sum of the daily average of the Advances Outstanding and the daily average of the aggregate Unfunded Advance Amounts during such six-month period (such reduction, a “Commitment Reduction”); provided that the Borrower may elect not to have such Commitment Reduction apply upon delivery to Administrative Agent of written notice within ten (10) Business Days of its receipt of notice of such Commitment Reduction.
Automatic Reduction and Termination. The Total Commitment (and the applicable Term Commitment or Revolving Commitment of each Term Lender or Revolving Lender) shall be automatically reduced (i) in part, with respect to the Term Commitment of each Term Lender, to the extent provided in connection with any optional or mandatory prepayments of Term Loan Advances made pursuant to Section 2.05(a) or Section 2.05(b), as applicable, and (ii) to zero at the close of business on the Commitment Termination Date. The Borrower shall not terminate or reduce the Total Commitment if, to the extent that after giving effect to such reduction or termination, a Commitment Shortfall shall exist.
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Automatic Reduction and Termination. (i) The Commitments of all Lenders shall be automatically reduced to zero at 5:00 p.m. on the Commitment Termination Date. (ii) If the daily average aggregate amount of the Commitments of all Lenders for any period of three consecutive months ending on any Determination Date exceeds 120% of the daily average of the Advances Outstanding during such period, then on such Determination Date, the aggregate amount of the Commitments of the Lenders shall be automatically and permanently reduced (pro rata, based on each Lender’s Percentage), to an aggregate amount equal to the greater of (x) 120% of the daily average of the Advances Outstanding during such three-month period and (y) the Advances Outstanding on such Determination Date (such reduction, an “Automatic Commitment Reduction”); provided that the Borrower may elect not to have such Automatic Commitment Reduction apply upon delivery to Administrative Agent of written notice at least 10 Business Days prior to such Determination Date (subject to the increased Commitment Fee Rate as described in such definition). Other than as set forth in the preceding sentence, the occurrence of any subsequent Automatic Commitment Reduction shall have no effect on the Commitment Fee Rate.
Automatic Reduction and Termination. The Allocated Facility Amounts of all Lenders shall be automatically reduced to zero at 5:00 p.m. on the Conversion Date.
Automatic Reduction and Termination. The Commitments of all Lenders shall be automatically reduced to zero at 5:00 p.m. (New York City time) on the Amortization Date.
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