Reduction in Commitments. (a) The Master Issuer may, upon three (3) Business Days’ notice to the Administrative Agent (who shall promptly notify the Trustee, the Control Party, each Funding Agent and each Investor), effect a permanent reduction in the Series 2021-1 Class A-1 Maximum Principal Amount and a corresponding reduction in each Commitment Amount and Maximum Investor Group Principal Amount on a pro rata basis; provided that (i) any such reduction will be limited to the undrawn portion of the Commitments, although any such reduction may be combined with a Voluntary Decrease effected pursuant to and in accordance with Section 2.2(b) of the Series 2021-1 Supplement, (ii) any such reduction must be in a minimum amount of $1,000,000, (iii) after giving effect to such reduction, the Series 2021-1 Class A-1 Maximum Principal Amount equals or exceeds $5,000,000, unless reduced to zero, and (iv) no such reduction shall be permitted if, after giving effect thereto, (x) the aggregate Commitment Amounts would be less than the Series 2021-1 Class A-1 Outstanding Principal Amount (excluding any Undrawn L/C Face Amounts with respect to which cash collateral is held by the L/C Provider pursuant to Section 4.03(b)) or (y) the aggregate Commitment Amounts would be less than the sum of the Swingline Commitment and the L/C Commitment. Any reduction made pursuant to this Section 2.05(a) shall be made ratably among the Investor Groups on the basis of their respective Maximum Investor Group Principal Amounts.
(b) If any of the following events shall occur, then the Commitment Amounts shall be automatically reduced on the dates and in the amounts set forth below with respect to the applicable event and the other consequences set forth below with respect to the applicable event shall ensue (and the Master Issuer shall give the Trustee, the Control Party, each Funding Agent and the Administrative Agent prompt written notice thereof):
(i) (A) if the Outstanding Principal Amount of the Series 2021-1 Class A-1 Notes has not been paid in full or otherwise refinanced in full (which refinancing may also include an extension thereof) by the Business Day immediately preceding the Series 2021-1 Class A-1 Anticipated Repayment Date, on such Business Day, (x) the principal amount of all then-outstanding Swingline Loans and Unreimbursed L/C Drawings shall be repaid in full with proceeds of Advances made on such date (and the Master Issuer shall be deemed to have delivered such Advance Requests under Section 2.0...
Reduction in Commitments. The Seller may, upon thirty days' notice to the Agent, reduce the Aggregate Commitment in increments of $1,000,000, so long as the Aggregate Commitment at all times equals at least the outstanding Matured Aggregate Investment. Each such reduction in the Aggregate Commitment shall reduce the Commitment of each Committed Purchaser in accordance with its Ratable Share and shall ratably reduce the Purchase Limit so that the Aggregate Commitment remains at least 102% of the Purchase Limit.
Reduction in Commitments. The Seller may, upon thirty days' notice to the Agent and each Purchaser Agent, reduce the Aggregate Commitment in increments of $1,000,000, so long as the Aggregate Commitment as so reduced is no less than the Matured Aggregate Investment. Each such reduction in the Aggregate Commitment shall reduce the Commitment of each Purchaser Group in accordance with its Ratable Share (and, in the case of each Committed Purchaser, its Commitment in accordance with its Commitment Percentage of its Purchaser Group's Ratable Share of such reduction).
Reduction in Commitments. The Borrower may, upon 30 days' notice to the Agent, reduce the Aggregate Commitment in increments of $1,000,000, so long as the Aggregate Commitment at all times equals at least the outstanding Matured Aggregate Loan Amount. Each such reduction in the Aggregate Commitment shall reduce the Commitment of each Committed Lender in accordance with its Ratable Share and shall ratably reduce the Loan Limit so that the Aggregate Commitment remains equal to 102% of the Loan Limit.
Reduction in Commitments. (a) The Seller may, upon thirty days’ notice to the Agent, reduce the Aggregate Class A Commitment in increments of $5,000,000, so long as the Aggregate Class A Commitment at all times equals or exceeds the outstanding Aggregate Class A Investment. Each such reduction in the Aggregate Class A Commitment shall reduce the Class A Commitment of each Class A Purchaser in accordance with its Class A Commitment Percentage and shall reduce the Class A Purchase Limit by a corresponding amount.
(b) The Seller may, upon thirty days’ notice to the Agent, reduce the Aggregate Class B Commitment in increments of $5,000,000, so long as the Aggregate Class B Commitment at all times equals or exceeds the outstanding Aggregate Class B Investment. Each such reduction in the Aggregate Class B Commitment shall reduce the Class B Commitment of each Class B Purchaser in accordance with its Class B Commitment Percentage and shall reduce the Class B Purchase Limit by a corresponding amount.
Reduction in Commitments. Paragraph 7 of the Tenth Amendment and Forbearance Agreement is hereby amended to the extent necessary to provide that the Commitment terminations provided therein shall not apply during the Standstill Period.
Reduction in Commitments. Pursuant to Section 2.08 of the Credit Agreement, the Borrower hereby notifies the Administrative Agent of its election to reduce the Commitments to the aggregate amount of $600,000,000, which reduction shall become effective as of the Amendment Effective Date (as defined below). For purposes hereof only, the Lenders party hereto waive the advance notice requirement set forth in the first sentence of Section 2.08(c) of the Credit Agreement.
Reduction in Commitments. The Borrower may, upon thirty days' notice to the Agent (which shall promptly notify each Lender), reduce the Borrowing Limit and/or Aggregate Commitment in increments of $1,000,000, so long as the Aggregate Commitment at all times equals at least the Matured Aggregate Loan Amount and at least 102% of the Borrowing Limit then in effect. At the time any Scheduled Principal Payment or mandatory prepayment is received by the Agent in full, or any optional prepayment is received, the Borrowing Limit shall automatically reduce by the amount of such payment (if not already reduced by such amount on Schedule 2.3) and the Aggregate Commitment shall automatically reduce to an amount equal to 102% of the Borrowing Limit then in effect or, if larger, the Matured Aggregate Loan Amount then in effect. Each reduction in the Aggregate Commitment shall reduce the Commitment of each Committed Lender in accordance with its Ratable Share.
Reduction in Commitments. The Borrower hereby requests that the Banks consent to the sale of certain assets of the Borrower and its Subsidiaries from time to time as identified by category in the further provisions of this paragraph 7 and agree to release their Liens under the Collateral Documents on the Property so sold. Consent is hereby given to the sale of Property and agreement is hereby made to the release of such Liens on the Property so sold, if and only if such property is identified by category in the further provisions of this paragraph 7 and the Agent receives, out of the proceeds of such sale, for application to the Obligations, an amount equal to the percentage of the net proceeds of such sale ("net proceeds" for such purposes to mean the gross proceeds of any such sale less only those ordinary and necessary capital gains taxes (to the extent actually paid) and out-of-pocket transaction expenses in each case directly incurred and payable by the Borrower and its Subsidiaries as a result of such sale) specified in the further provisions of this paragraph 7. Notwithstanding the foregoing, the terms of the sale of (i) any Subsidiary or (ii) assets (either individually or in the aggregate with other assets sold as a group) with either a fair market value or book value in excess of $250,000 must be approved by the Required Lenders. If the Borrower or any Subsidiary shall in connection with any asset sale accept a note or similar instrument, an equity interest or other non-cash compensation in lieu of cash, the Borrower or such Subsidiary shall take all such actions reasonably requested by the Agent to confirm that the Collateral Agent's security interest in such note, instrument, equity interest or other non-cash compensation, as applicable, continues to be perfected. A portion of the Commitments shall terminate on the Business Day on which the Borrower or any of its Subsidiaries receives (i) the net proceeds of any sale, transfer or other disposition (whether voluntary or involuntary) by the Borrower or any of its Subsidiaries of any asset (other than sales, transfers or other dispositions of inventory in the ordinary course of business), (ii) the net proceeds of any business interruption or insurance policies protecting the Borrower and its Subsidiaries from acts and omissions of their respective past or present officers and employees or any insurance settlements with respect thereto, (iii) any tax refund, (iv) net proceeds (i.e., gross proceeds net of reasonable underwri...
Reduction in Commitments. Pursuant to Section 2.1(c) and (d) of the Credit Agreement, the Borrowers hereby ratably reduce the unused US Commitments and the Canadian Commitments of the Lenders in such amounts so that, after giving effect to such reductions, each Lender’s US Commitment and Canadian Commitment, if any, are as set forth on Schedule II attached hereto. Each of the parties hereto waives the 10 Business Days notice required under Section 2.1 of the Credit Agreement for the reductions in the Commitments effected hereby.
