Common use of Commitment Reductions, Generally Clause in Contracts

Commitment Reductions, Generally. To the extent that the sum of the aggregate outstanding (i) Advances under the Revolving Loan plus (ii) Bid Rate Loans exceed the Commitment after any reduction thereof, Company shall simultaneously repay on the date of such reduction, any such excess amount and all accrued interest thereon, together with any amounts constituting any Consequential Loss. Once reduced or terminated pursuant to this Section 2.4, the Commitment may not be increased or reinstated.

Appears in 3 contracts

Samples: Credit Agreement (Franchise Finance Corp of America), Credit Agreement (Franchise Finance Corp of America), Credit Agreement (Franchise Finance Corp of America)

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Commitment Reductions, Generally. To the extent that the sum of the aggregate outstanding (i) Advances under the Revolving Loan plus (ii) Bid Rate Loans exceed the Commitment after any reduction thereof, Company shall simultaneously repay on the date of such reduction, any such excess amount and all accrued interest thereon, together with any amounts constituting any Consequential Loss. Once reduced or terminated pursuant to this Section 2.4, the Commitment may not be increased or reinstated."

Appears in 1 contract

Samples: Credit Agreement (Franchise Finance Corp of America)

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Commitment Reductions, Generally. To the extent that the sum of the aggregate outstanding (i) Advances under the Revolving Loan plus (ii) Bid Rate Loans exceed the Commitment after any reduction thereof, Company shall simultaneously immediately repay on the date of such reduction, any such excess amount and all accrued interest thereon, together with any amounts constituting any Consequential Loss. Once reduced or terminated pursuant to this Section 2.4, the Commitment may not be increased or reinstated.

Appears in 1 contract

Samples: Credit Agreement (Franchise Finance Corp of America)

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