Commitment Decrease Sample Clauses

Commitment Decrease. (a) Pursuant to Section 2.06(a) of the Credit Agreement, the Borrowers request the permanent reduction, effective as of the Amendment Date, of unused Commitments in an aggregate amount equal to $1,000,000,000. The Commitments of all Lenders shall be reduced ratably in proportion to the amount of such reduction. (b) Subject to the satisfaction of the conditions precedent set forth in Section 4 below, the Borrowers, the Administrative Agent, the Fronting Banks, the Swing Line Lenders and each Lender party hereto (including each New Extension Lender) agree that on the Amendment Date Schedule I to the Credit Agreement is amended and restated in its entirety by Schedule I hereto.

Commitment Decrease. Borrower, the Administrative Agent, the Swing Line Lender, the L/C Issuer and the Lenders acknowledge and agree that, as of the Extension Date, based on sixty-five percent (65%) of the aggregate Appraised Values of the Borrowing Base Properties, which Appraised Values are based on the “as is” value established by a new Appraisal for each Borrowing Base Property delivered pursuant to Section 2.14 of the Credit Agreement, the Aggregate Commitments have decreased from $370,000,000 to $350,000,000. Accordingly, upon the Extension Date, the Loan Documents and all exhibits and schedules to the Credit Agreement are hereby modified to replace any references therein to the aggregate extension of credit pursuant to the Credit Agreement as “$370,000,000” with “$350,000,000”.

Commitment Decrease. Amended Schedule 2.01.