Common use of Automatic Reductions to Aggregate Revolving Loan Commitment Clause in Contracts

Automatic Reductions to Aggregate Revolving Loan Commitment. Notwithstanding anything to the contrary in the Loan Documents, the Aggregate Revolving Loan Commitment shall be automatically reduced, ratably among the Revolving Lenders, to the amount set forth as of each corresponding date set forth below, to the extent it has not been reduced to a lower amount prior to such date. December 31, 2023 $99,375,000 March 31, 2024 $72,986,111 June 30, 2024 $72,361,111 September 30, 2024 $71,736,000 If, as of any such date set forth above, the Total Revolving Exposure exceeds the corresponding Aggregate Revolving Loan Commitment set forth above, the Borrowers shall immediately make payment to the Revolver Agent for distribution to the Revolving Lenders an amount equal to such excess.

Automatic Reductions to Aggregate Revolving Loan Commitment. Notwithstanding anything to the contrary in the Loan Documents, the Aggregate Revolving Loan Commitment shall be automatically reduced, ratably among the Revolving Lenders, to the amount set forth as of each corresponding date set forth below, to the extent it has not been reduced to a lower amount prior to such date. December 31, 2023 $99,375,000 March 31, 2024 $72,986,111 98,750,000 June 30, 2024 $72,361,111 98,125,000 September 30, 2024 $71,736,000 97,500,000 If, as of any such date set forth above, the Total Revolving Exposure exceeds the corresponding Aggregate Revolving Loan Commitment set forth above, the Borrowers shall immediately make payment to the Revolver Agent for distribution to the Revolving Lenders an amount equal to such excess.