Common use of Reduction of Commitment Clause in Contracts

Reduction of Commitment. Upon the making of any mandatory prepayment under this Section 2.07 (other than in connection with an optional prepayment of an Enstar Partnership Loan), the Commitment of each Bank shall automatically be reduced by an amount equal to such Bank's ratable share of the aggregate of principal repaid, effective as of the earlier of the date that such prepayment is made or the date by which such 28 80 prepayment is due and payable hereunder. On January 31, 2002, the Commitment of each Bank shall automatically be reduced by an amount equal to such Bank's ratable share of $5,000,000. All accrued commitment fees to, but not including the effective date of any reduction or termination of Commitments, shall be paid on the effective date of such reduction or termination.

Reduction of Commitment. Upon the making of any mandatory prepayment under this Section 2.07 (other than in connection with an optional prepayment of an Enstar Partnership Loan), the Commitment of each Bank shall automatically be reduced by an amount equal to such Bank's ratable share of the aggregate of principal repaid, effective as of the earlier of the date that such prepayment is made or the date by which such 28 80 84 prepayment is due and payable hereunder. On January 31, 2002, the Commitment of each Bank shall automatically be reduced by an amount equal to such Bank's ratable share of $5,000,000. All accrued commitment fees to, but not including the effective date of any reduction or termination of Commitments, shall be paid on the effective date of such reduction or termination.