Common use of Mandatory Commitment Reductions Clause in Contracts

Mandatory Commitment Reductions. (a) The Aggregate Commitment ------------------------------- shall be automatically and permanently reduced by the following amounts (or such lesser amount as a result of reductions pursuant to Section 2.7(c)) on the -------------- following dates: Date Reduction Amount ---- ---------------- December 31, 1998 $3,000,000 December 31, 1999 $3,000,000 December 31, 2000 $4,000,000 November 26, 2001 $40,000,000 (b) The Aggregate Commitment shall also be automatically and permanently reduced in the amounts and at the times set forth below: (i) within 5 Business Days after the receipt in the form of cash or cash equivalents thereof by the Borrower, 100% of the aggregate Net Available Proceeds in excess of $1,000,000 realized upon all Asset Dispositions in any Fiscal Year of the Borrower; and (ii) within 5 Business Days after the receipt in the form of cash or cash equivalents thereof by the Borrower, 85% of the Net Available Proceeds realized upon the sale by the Borrower of any equity securities issued by it after the date of this Agreement in excess of an aggregate amount of $1,000,000 (other than a sale of common stock of the Borrower to Parent). (c) Mandatory commitment reductions under Section 2.7(b) shall -------------- be cumulative and in addition to reductions occurring pursuant to Section 2.4(b). Any mandatory commitment reductions under Section 2.7(b) shall -------------- -------------- be applied to the mandatory commitment reductions required to be made pursuant to Section 2.7(a) in the inverse order of maturity. -------------- (d) Any reduction in the Aggregate Commitment pursuant to this Section 2.7 or otherwise shall ratably reduce the Commitment of each Lender. -----------

Mandatory Commitment Reductions. (a) The Aggregate Commitment ------------------------------- shall be automatically and permanently reduced by the following amounts (or such lesser amount as a result of reductions pursuant to Section 2.7(c)) on the -------------- following dates: Date Reduction Amount ---- ------------- ---------------- December 31, 1998 $3,000,000 December 31June 30, 1999 $3,000,000 December 31June 30, 2000 $4,000,000 November 263,000,000 June 30, 2001 $4,000,000 July 30, 2002 $40,000,000 (b) The Aggregate Commitment shall also be automatically and permanently reduced in the amounts and at the times set forth below: (i) within 5 Business Days after the receipt in the form of cash or cash equivalents thereof by the Borrower, 100% of the aggregate Net Available Proceeds in excess of $1,000,000 realized upon all Asset Dispositions in any Fiscal Year of the Borrower; and (ii) within 5 Business Days after the receipt in the form of cash or cash equivalents thereof by the Borrower, 85% of the Net Available Proceeds realized upon the sale by the Borrower of any equity securities issued by it after the date of this Agreement in excess of an aggregate amount of $1,000,000 (other than a sale of common stock of the Borrower to Parent). (c) Mandatory commitment reductions under Section 2.7(b) shall -------------- be cumulative and in addition to reductions occurring pursuant to Section 2.4(b). Any mandatory commitment reductions under Section 2.7(b) shall -------------- -------------- be applied to the mandatory commitment reductions required to be made pursuant to Section 2.7(a) in the inverse order of maturity. --------------. (d) Any reduction in the Aggregate Commitment pursuant to this Section 2.7 or otherwise shall ratably reduce the Commitment of each Lender. -----------.

Mandatory Commitment Reductions. (a) The Aggregate Commitment ------------------------------- shall be automatically and permanently reduced by the following amounts (or such lesser amount as a result of reductions pursuant to Section SECTION 2.7(c)) on the -------------- following dates: Date Reduction Amount ---- ---------------- December 31, 1998 $3,000,000 December 31June 30, 1999 $3,000,000 December 31June 30, 2000 $4,000,000 November 263,000,000 June 30, 2001 $4,000,000 July 30, 2002 $40,000,000 (b) The Aggregate Commitment shall also be automatically and permanently reduced in the amounts and at the times set forth below: (i) within 5 Business Days one hundred eighty (180) days after the receipt in the form of cash or cash equivalents thereof by the Borrower, 100% of the aggregate Net Available Proceeds in excess of $1,000,000 realized upon all Asset Dispositions in any Fiscal Year of the Borrower; and (ii) within 5 five (5) Business Days after the receipt in the form of cash or cash equivalents thereof by the Borrower, 85% of the Net Available Proceeds realized upon the sale by the Borrower of any equity securities issued by it after the date of this Agreement in excess of an aggregate amount of $1,000,000 (other than a sale of common stock of the Borrower to Parent). (c) Mandatory commitment reductions under Section SECTION 2.7(b) shall -------------- be cumulative and in addition to reductions occurring pursuant to Section SECTION 2.4(b). Any mandatory commitment reductions under Section SECTION 2.7(b) shall -------------- -------------- be applied to the mandatory commitment reductions required to be made pursuant to Section SECTION 2.7(a) in the inverse order of maturity. --------------. (d) Any reduction in the Aggregate Commitment pursuant to this Section SECTION 2.7 or otherwise shall ratably reduce the Commitment of each Lender. -----------.

Mandatory Commitment Reductions. (a) The Aggregate Commitment ------------------------------- shall be automatically and permanently reduced by the following amounts (or such lesser amount as a result of reductions pursuant to Section 2.7(c)) on the -------------- following dates: Date Reduction Amount ---- ---------------- December 31, 1998 $3,000,000 December 31------ -------------------- June 30, 1999 $3,000,000 December 31$ 1,000,000 June 30, 2000 $4,000,000 November 26$ 2,000,000 June 30, 2001 $ 2,000,000 July 30, 2002 $40,000,00010,000,000 (b) The Aggregate Commitment shall also be automatically and permanently reduced in the amounts and at the times set forth below: (i) within 5 Business Days after the receipt in the form of cash or cash equivalents thereof by the Borrower, 100% of the aggregate Net Available Proceeds in excess of $1,000,000 realized upon all Asset Dispositions in any Fiscal Year of the Borrower; and (ii) within 5 Business Days after the receipt in the form of cash or cash equivalents thereof by the Borrower, 85% of the Net Available Proceeds realized upon the sale by the Borrower of any equity securities issued by it after the date of this Agreement in excess of an aggregate amount of $1,000,000 (other than a sale of common stock of the Borrower to Parent). (c) Mandatory commitment reductions under Section 2.7(b) shall -------------- be cumulative and in addition to reductions occurring pursuant to Section 2.4(b). Any mandatory commitment reductions under Section 2.7(b) shall -------------- -------------- be applied to the mandatory commitment reductions required to be made pursuant to Section 2.7(a) in the inverse order of maturity. --------------. (d) Any reduction in the Aggregate Commitment pursuant to this Section 2.7 or otherwise shall ratably reduce the Commitment of each Lender. -----------.

Mandatory Commitment Reductions. (a) The Aggregate Commitment ------------------------------- shall be automatically and permanently reduced by the following amounts (or such lesser amount as a result of reductions pursuant to Section SECTION 2.7(c)) on the -------------- following dates: Date Reduction Amount DATE REDUCTION AMOUNT ---- ---------------- December 31, 1998 $3,000,000 December 31June 30, 1999 $3,000,000 December 31$ 1,000,000 June 30, 2000 $4,000,000 November 26$ 2,000,000 June 30, 2001 $ 2,000,000 July 30, 2002 $40,000,00010,000,000 (b) The Aggregate Commitment shall also be automatically and permanently reduced in the amounts and at the times set forth below: (i) within 5 Business Days one hundred eighty (180) days after the receipt in the form of cash or cash equivalents thereof by the Borrower, 100% of the aggregate Net Available Proceeds in excess of $1,000,000 realized upon all Asset Dispositions in any Fiscal Year of the Borrower; and (ii) within 5 five (5) Business Days after the receipt in the form of cash or cash equivalents thereof by the Borrower, 85% of the Net Available Proceeds realized upon the sale by the Borrower of any equity securities issued by it or equity contributed to it after the date of this Agreement in excess of an aggregate amount of $1,000,000 (other than a sale of common stock of the Borrower to Parent). (c) Mandatory commitment reductions under Section SECTION 2.7(b) shall -------------- be cumulative and in addition to reductions occurring pursuant to Section SECTION 2.4(b). Any mandatory commitment reductions under Section SECTION 2.7(b) shall -------------- -------------- be applied to the mandatory commitment reductions required to be made pursuant to Section SECTION 2.7(a) in the inverse order of maturity. --------------. (d) Any reduction in the Aggregate Commitment pursuant to this Section SECTION 2.7 or otherwise shall ratably reduce the Commitment of each Lender. -----------.