Reduction of Credit-Linked Deposit. If any Credit-Linked Purchase is made with proceeds of the Credit-Linked Deposits, the Credit-Linked Deposits shall be automatically permanently reduced by the amount of such Credit-Linked Purchase. If the Borrower elects to reduce the Credit-Linked LOC Committed Amount pursuant to Section 2.8(a), the Credit-Linked Deposit shall be automatically permanently reduced by a corresponding amount and the amount of such reduction shall be returned to the Credit-Linked Lenders on a pro rata basis by the Administrative Agent.
Appears in 3 contracts
Samples: Credit Agreement (Gencorp Inc), Credit Agreement (Gencorp Inc), Credit Agreement (Gencorp Inc)
Reduction of Credit-Linked Deposit. If any Credit-Linked Purchase is made with proceeds of the Credit-Linked Deposits, the Credit-Linked Deposits shall be automatically permanently reduced by the amount of such Credit-Linked Purchase. If the Borrower elects to reduce the Credit-Linked LOC Committed Amount pursuant to Section 2.8(a)Amount, the Credit-Linked Deposit shall be automatically permanently reduced by a corresponding amount and the amount of such reduction shall be returned to the Credit-Linked Lenders on a pro rata basis by the Administrative Agent.
Appears in 1 contract
