Common use of Mandatory Reduction of Commitments Clause in Contracts

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.02, (i) the Total Initial Term Loan Commitment terminated in its entirety on the First Restatement Effective Date after the funding of all Initial Term Loans on such date and (ii) the 2021 Incremental Term Loan Commitment shall terminate in its entirety on the Amendment No. 1 Effective Date (after giving effect to the incurrence of the 2021 Incremental Term Loans on such date).

Appears in 2 contracts

Samples: Credit Agreement (VERRA MOBILITY Corp), Credit Agreement (VERRA MOBILITY Corp)

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Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.023.03, (i) the Total Initial Term Loan Commitment terminated in its entirety on (and the First Restatement Effective Date after the funding of all Initial Term Loans on such date and (ii) the 2021 Incremental Term Loan Commitment of each Lender) shall (i) terminate in its entirety on the Amendment No. 1 Effective Initial Borrowing Date (after giving effect to the incurrence of the 2021 Incremental Term Loans on such date)) and (ii) prior to the termination of the Total Initial Term Loan Commitment as provided in clause (i) above, be reduced from time to time to the extent required by Section 4.02.

Appears in 2 contracts

Samples: Credit Agreement (Ameristar Casinos Inc), Credit Agreement (Ameristar Casinos Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.02, (i) prior to the Amendment No. 1 Effective Date, the Total Initial Term Loan Commitment terminated in its entirety on the First Restatement Effective Closing Date after the funding of all Initial Term Loans on such date and (ii) the 2021 Incremental 2017 Additional Term Loan Commitment shall terminate in its entirety on the Amendment No. 1 Effective Date (after giving effect to the incurrence of the 2021 Incremental 2017 Additional Term Loans on such date).

Appears in 1 contract

Samples: First Lien Term Loan Credit Agreement (PAE Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.02, (i) the Total Initial Term Loan Commitment terminated in its entirety on the First Restatement Effective Date after the funding of all Initial Term Loans on such date and (ii) the 2021 Incremental Term Loan Commitment pursuant to an Incremental Term Loan Commitment Agreement (and the Incremental Term Loan Commitment of each Lender with such a Commitment) shall terminate in its entirety on the Amendment No. 1 Effective Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment (after giving effect to the incurrence of the 2021 relevant Incremental Term Loans on such date).

Appears in 1 contract

Samples: Term Loan Credit Agreement (PAE Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.02, (i) prior to the Amendment No. 1 Effective Date, the Total Initial Term Loan Commitment terminated in its entirety on the First Restatement Effective Closing Date after the funding of all Initial Term Loans on such date and (ii) the 2021 Incremental 2017 Additional Term Loan Commitment shall terminate in its entirety on the Amendment No. 1 Effective Date (after giving effect to the incurrence of the 2021 Incremental 2017 Additional Term Loans on such date).

Appears in 1 contract

Samples: Credit Agreement (PAE Inc)

Mandatory Reduction of Commitments. (a) 1.1.46. In addition to any other mandatory commitment reductions pursuant to this Section 4.02, (i) the Total Initial Term Loan Commitment terminated in its entirety on the First Restatement Effective Date after the funding of all Initial Term Loans on such date and (ii) the 2021 Incremental Term Loan Commitment shall terminate in its entirety on the Amendment No. 1 Effective Date (after giving effect to the incurrence of the 2021 Incremental Term Loans on such date).

Appears in 1 contract

Samples: Credit Agreement (VERRA MOBILITY Corp)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.02, (i) prior to the Amendment No. 1 Effective Date, the Total Initial Term Loan Commitment terminated in its entirety on the First Restatement Effective Closing Date after the funding of all Initial Term Loans on such date and (ii) the 2021 Incremental 2017 Additional Term Loan Commitment shall terminate in its entirety on the Amendment ClosingAmendment No. 1 Effective Date (after giving effect to the incurrence of the 2021 Incremental Initialthe 2017 Additional Term Loans on such date).

Appears in 1 contract

Samples: Second Lien Term Loan Credit Agreement (PAE Inc)

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Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.02, (i) the Total Initial Term Loan Commitment terminated shall terminateterminated in its entirety on the First Restatement Effective Closing Date after the funding of all Initial Term Loans on such date and (ii) the 2021 Incremental 2018 Additional Term Loan Commitment Commitments shall terminate in its their entirety on the earlier of (x) the Amendment No. 1 Incremental Effective Date (after giving effect to the incurrence funding of the 2021 Incremental all 2018 Additional Term Loans on such date)date and (y) January 26, 2019.

Appears in 1 contract

Samples: Credit Agreement (VERRA MOBILITY Corp)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.02, (i) prior to the Amendment No. 1 Effective Date, the Total Initial Term Loan Commitment terminated in its entirety on the First Restatement Effective Closing Date after the funding of all Initial Term Loans on such date and (ii) the 2021 Incremental 2017 Additional Term Loan Commitment shall terminate in its entirety on the Amendment ClosingAmendment No. 1 Effective Date (after giving effect to the incurrence of the 2021 Incremental Initial2017 Additional Term Loans on such date).

Appears in 1 contract

Samples: First Lien Term Loan Credit Agreement (PAE Inc)

Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.02, (i) the Total Initial Term Loan Commitment terminated in its entirety on the First Restatement Effective Date after the funding of all Initial Term Loans on such date and (ii) the 2021 Incremental Term Loan Commitment shall terminate in its entirety on the Amendment No. 1 Effective Date (after giving effect to the incurrence of the 2021 Incremental Term Loans on such date).the

Appears in 1 contract

Samples: Credit Agreement (VERRA MOBILITY Corp)

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