Common use of Funding Termination Event Clause in Contracts

Funding Termination Event. If any Funding Termination Event shall occur and be continuing, (a) if such event is a Funding Termination Event specified in clause (i) or (ii) of paragraph (d) of the definition thereof or paragraphs (d) and (e) of the definition of Event of Default, the Commitment of each Bank Purchaser shall automatically be reduced to zero, and (b) if such event is any other Funding Termination Event, with the consent of the Required Purchasers, the Funding Agents may, or upon the request of the Required Purchasers, the Funding Agents shall, by notice to the Issuer, reduce the Commitments of each Bank Purchaser to zero, whereupon the Commitments shall immediately be reduced to zero.

Funding Termination Event. If any Funding Termination Event shall occur and be continuing, (a) if such event is a Funding Termination Event specified in clause (i) or (ii) of paragraph (d) of the definition thereof or paragraphs (d) and (e) of the definition of Event of Default, the Commitment of each Bank Committed Purchaser shall automatically be reduced to zero, and (b) if such event is any other Funding Termination Event, with the consent of the Required Purchasers, the Funding Agents Agent may, or upon the request of the Required Purchasers, the Funding Agents Agent shall, by notice to the Issuer, reduce the Commitments of each Bank Committed Purchaser to zero, whereupon the Commitments shall immediately be reduced to zero.

Funding Termination Event. If any Funding Termination Event shall occur and be continuing, (aA) if such event is a Funding Termination Event specified in clause (i) or (ii) of paragraph (d) of the definition thereof or paragraphs (d) and (e) of the definition of Event of Default, the Commitment of each Bank Committed Purchaser shall automatically be reduced to zero, and (bB) if such event is any other Funding Termination Event, with the consent of the Required Purchasers, the Funding Agents Agent may, or upon the request of the Required Purchasers, the Funding Agents Agent shall, by notice to the Issuer, reduce the Commitments of each Bank Committed Purchaser to zero, whereupon the Commitments shall immediately be reduced to zero.

Funding Termination Event. If any Funding Termination Event shall occur and be continuing, (a) if such event is a Funding Termination Event specified in clause (i) or (ii) of paragraph (d) of the definition thereof or paragraphs (d) and (e) of the definition of Event of Default, the Commitment of each Bank Purchaser shall automatically be reduced to zero, and (b) if such event is any other Funding Termination Event, with the consent of the Required Purchasers, the each Funding Agents may, or upon the request of the Required PurchasersAgent, the Funding Agents shall, by notice to the Issuer, reduce the Commitments of each Bank Purchaser to zero, whereupon the Commitments shall immediately be reduced to zero.