Common use of Mandatory Reduction of Revolving Commitments Clause in Contracts

Mandatory Reduction of Revolving Commitments. On the date that any prepayment that is to be made pursuant to Sections 2.13(c)(iv), (v), (vi) or (vii) is required to be applied to prepay the outstanding principal amount of Revolving Loans, then on such date the Total Revolving Commitment shall be permanently reduced on such date in an amount equal to the amount of such required prepayment and any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage) and permanently reduce the Revolving Commitment of each Lender. If the Total Revolving Commitment is reduced to any amount that is less than the LC Outstandings, the U.S. Borrower shall immediately Cash Collateralize the LC Outstandings to the extent of such excess.

Mandatory Reduction of Revolving Commitments. On the date that any prepayment that is to be made pursuant to Sections 2.13(c)(ivSection 2.13(c)(iv)(c)(iv), (v), (vi) or (vii) is required to be applied to prepay the outstanding principal amount of Revolving Loans, then on such date the Total Revolving Commitment shall be permanently reduced on such date in an amount equal to the amount of such required prepayment and any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage) and permanently reduce the Revolving Commitment of each Lender. If the Total Revolving Commitment is reduced to any amount that is less than the LC Outstandings, the U.S. Borrower shall immediately Cash Collateralize the LC Outstandings to the extent of such excess.

Mandatory Reduction of Revolving Commitments. On the date that any prepayment that is to be made pursuant to Sections Section 2.13(c)(iv), (v), (vi), (vii) or (viiviii) and is required to be applied to prepay the outstanding principal amount of Revolving Loans, then on such date the Total Revolving Commitment shall be permanently reduced on such date in an amount equal to the amount of such required prepayment and any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage) and permanently reduce the Revolving Commitment of each Lender. If the Total Revolving Commitment is reduced to any amount that is less than the LC Outstandings, the U.S. Borrower Borrowers shall immediately Cash Collateralize the LC Outstandings to the extent of such excess.

Mandatory Reduction of Revolving Commitments. On the date that any prepayment that is to be made pursuant to Sections 2.13(c)(iv), (v), (vi) or (vii) is required to be applied to prepay the outstanding principal amount of Revolving Loans, then on such date the Total Revolving Commitment shall be permanently reduced on such date in an amount equal to the amount of such required prepayment and any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage) and permanently reduce the Revolving Commitment of each Lender. If the Total Revolving Commitment is reduced to any amount that is less than the LC Outstandings, the U.S. Borrower shall immediately Cash Collateralize the LC Outstandings to the extent of such excess.