Mandatory Termination or Reduction of Commitments. The Commitment of each Lender in respect of the Initial Loans on the Effective Date shall be automatically and permanently reduced to $0 upon the making of such Lender’s Loan pursuant to Section 2.1.
Appears in 3 contracts
Samples: Credit Agreement (California Resources Corp), Credit Agreement (California Resources Corp), Credit Agreement (California Resources Corp)
Mandatory Termination or Reduction of Commitments. The Commitment of each Lender Commitments in respect of the Initial Term Loans on the Effective Date shall be automatically and permanently reduced to $0 upon the making funding of such Lender’s Loan pursuant to Section 2.1the Initial Term Loans on the Closing Date.
Appears in 1 contract
Mandatory Termination or Reduction of Commitments. The Commitment of each Lender in respect of the Initial Loans on the Effective Date Commitments shall be automatically and permanently promptly reduced to $0 upon on the making date of such Lender’s Loan any Borrowing of Term Loans pursuant to Section 2.12.1(a), by the amount of such Borrowing.
Appears in 1 contract
Samples: Superpriority Secured Debtor in Possession Credit Agreement (Avaya Holdings Corp.)
