Common use of Reduction of Facility Clause in Contracts

Reduction of Facility. If, with respect to any Extension Request, (i) the Required Lenders agree to such extension, (ii) there are any Declining Lenders and (iii) such Declining Lenders cannot be replaced pursuant to Section 2.3(e), then all outstanding principal, interest and other amounts payable to the Declining Lenders shall be repaid on the then current Final Termination Date and the Total Commitments will be automatically reduced by each such Declining Lender’s Commitment on the then current Final Termination Date applicable to such Declining Lender once such repayment has been made.