CERTAIN AUTOMATIC ADJUSTMENTS TO THE COMMITMENT Sample Clauses

CERTAIN AUTOMATIC ADJUSTMENTS TO THE COMMITMENT. Subject to the terms and conditions of this Agreement: (a) Simultaneously with the effectiveness of any Conversion, the Commitment shall automatically be reduced by an amount equal to the principal amount converted; (b) Simultaneously with each repayment of principal of a Term Loan, the Commitment shall automatically be increased by an amount equal to the principal amount repaid; (c) Simultaneously with the issuance of any letter of credit (not including for this purpose renewals of letters of credit outstanding on the date hereof) by the Lender to the Borrower (it being understood that any such issuance shall be in the Lender's sole discretion), the Commitment shall automatically be reduced by the face amount of such letter of credit; and (d) Simultaneously with the expiry, undrawn, of any such letter of credit, the Commitment shall automatically be increased in an amount equal to such face amount.