Reduction and Increase of Commitments Clause Samples

Reduction and Increase of Commitments. 5.1 Subject to the other provisions of this Agreement, on the Amendment Effective Date: (a) the Commitment of each Reducing Lender shall be reduced to an amount equal to its New Commitment Amount; and (b) in accordance with clause 5.2 below, each Lender in relation to its Increased Amount shall continue as a Lender under the Amended Agreement with a commitment in an amount equal to its New Commitment Amount. 5.2 Subject to the other provisions of this Agreement, on and from the Amendment Effective Date: (a) in relation to any Increased Amount, each Obligor and the relevant Lender shall assume obligations towards one another and/or acquire rights against one another as that Obligor and that Lender would have assumed and/or acquired had that Lender been an Original Lender with commitments equal to the New Commitment Amount; (b) each Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as those Lenders and those Finance Parties would have assumed and/or acquired had those Lenders been Original Lenders with commitments equal to their New Commitment Amounts; and (c) the Commitments of the Lenders (other than in relation to the Increased Amounts) shall continue in full force and effect except, in respect of a Reducing Lender, to the extent reduced pursuant to Clause 5.1. 5.3 Each Lender confirms (for the avoidance of doubt) that, in relation to the Increased Amount, the Facility Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in relation to and in accordance with the Amended Agreement on or prior to the Amendment Effective Date.