Common use of Notice of Reduction Clause in Contracts

Notice of Reduction. On (i) each reduction of Advances Outstanding pursuant to Section 2.17(a), (ii) any termination of this Agreement and (iii) any reduction in part of the Facility Amount pursuant to Section 2.17(b), the Borrower (or the Servicer on its behalf) will provide a Notice of Reduction and a Borrowing Base Certificate, updated to no sooner than the Business Day preceding such date (provided that any information in the Loan Tape referenced in such Borrowing Base Certificate will be as of the Loan Tape Cut-Off Date), to the Administrative Agent (with a copy to the Collateral Agent).

Notice of Reduction. On (i) each reduction of Advances Outstanding outstanding pursuant to Section 2.17(a2.16(a), (ii) any termination of this Agreement and (iii) any reduction in part of the Facility Amount pursuant to Section 2.17(b2.16(b), the Borrower (or the Servicer Collateral Manager on its behalf) will provide a Notice of Reduction and a Borrowing Base Certificate, updated to no sooner than the Business Day preceding such date (provided that any information in the Loan Collateral Asset Tape referenced in such Borrowing Base Certificate will be as of the Loan Collateral Asset Tape Cut-Off off Date), to the Administrative Agent (with a copy to the Collateral Agent).