Common use of Reduction of the Facility Amount; Principal Repayments Clause in Contracts

Reduction of the Facility Amount; Principal Repayments. (a) The Borrower (or the Collateral Manager on behalf of the Borrower) may irrevocably terminate the Commitments in whole or irrevocably reduce in part the portion of the Commitments that exceed the sum of the Advances Outstanding and accrued Interest and Breakage Costs with respect thereto; provided that (i) the Borrower shall provide a Repayment Notice at least two (2) Business Days prior to the date of such termination or reduction to the Administrative Agent (with a copy to the Collateral Manager); (ii) any partial reduction of the Commitments shall be in an amount equal to $5,000,000 and in integral multiples of $500,000 in excess thereof, and (iii) in the case of such termination or reduction on or prior to the two (2) year anniversary of the Closing Date other than in connection with an amendment and restatement of this Agreement, the Borrower shall pay to the Administrative Agent for distribution to the Lenders the applicable Commitment Reduction Fee. Each notice of a reduction or termination pursuant to this Section 2.3(a) shall be irrevocable. The applicable Commitment of each Lender shall be reduced by an amount equal to its Pro Rata Share (prior to giving effect to any reduction of the Commitments hereunder) of the aggregate amount of any reduction under this Section 2.3(a).

Reduction of the Facility Amount; Principal Repayments. (a) The Borrower (or the Collateral Manager Servicer on behalf of the Borrower) may irrevocably terminate the Commitments in whole or irrevocably reduce in part the any portion of the Commitments that exceed the sum of the Advances Outstanding and accrued Interest and Breakage Costs with respect theretoOutstanding; provided that (i) the Borrower shall provide a Repayment Notice at least two one (21) Business Days Day prior to the date of such termination or reduction to the Administrative Agent (with a copy to the Collateral ManagerServicer); (ii) any partial reduction of the Commitments shall be in an amount equal to $5,000,000 1,000,000 (or the equivalent amount in the applicable Available Currency) and in integral multiples of $500,000 250,000 (or the equivalent amount in the applicable Available Currency) in excess thereof, ; and (iii) in the case of such termination or reduction on or prior to the two (2) year second anniversary of the Closing Date Date, other than in connection with an amendment and restatement of this Agreement, the Borrower shall pay to the Administrative Agent for distribution to the Lenders the applicable Commitment Reduction Fee. Each notice of a reduction or termination pursuant to this Section 2.3(a) shall be irrevocable. The applicable Commitment of each Lender shall be reduced by an amount equal to its Pro Rata Share (prior to giving effect to any reduction of the Commitments hereunder) of the aggregate amount of any reduction under this Section 2.3(a).

Reduction of the Facility Amount; Principal Repayments. (a) The Borrower (or the Collateral Manager on behalf of the Borrower) may irrevocably terminate the Commitments in whole or irrevocably reduce in part the any portion of the Commitments that exceed the sum of the Advances Outstanding and accrued Interest and Breakage Costs with respect theretoOutstanding; provided that (i) the Borrower shall provide a Repayment Notice at least two three (23) Business Days prior to the date of such termination or reduction to the Administrative Agent (with a copy to the Collateral Manager); (ii) any partial reduction of the Commitments shall be in an amount equal to $5,000,000 1,000,000 and in integral multiples of $500,000 250,000 in excess thereof, ; and (iii) in the case of such termination or reduction on or prior to the two (2) year second anniversary of the Closing Date Date, other than in connection with an amendment and restatement of this Agreement, the Borrower shall pay to the Administrative Agent for distribution to the Lenders the applicable Commitment Reduction Fee; provided that no Commitment Reduction Fee shall be due and payable if such termination or reduction occurs (x) using the proceeds of a collateralized loan obligation transaction securitizing all or any of the Collateral for which the Administrative Agent has provided its prior written consent (in its sole discretion) or (y) after the second anniversary of the Closing Date. Each notice of a reduction or termination pursuant to this Section 2.3(a) shall be irrevocable. The applicable Commitment of each Lender shall be reduced by an amount equal to its Pro Rata Share (prior to giving effect to any reduction of the Commitments hereunder) of the aggregate amount of any reduction under this Section 2.3(a).

Reduction of the Facility Amount; Principal Repayments. (a) The Borrower (or the Collateral Manager on behalf of the Borrower) may irrevocably terminate the Commitments in whole or irrevocably reduce in part the portion of the Commitments that exceed the sum of the Advances Outstanding and accrued Interest and Breakage Costs with respect thereto; provided that (i) the Borrower shall provide a Repayment Notice at least two one (21) Business Days Day prior to the date of such termination or reduction to the Administrative Agent (with a copy to the Collateral ManagerManager and the Collateral Agent); (ii) any partial reduction of the Commitments shall be in an amount equal to $5,000,000 and in integral multiples of $500,000 in excess thereof, ; and (iii) in the case of such termination or reduction on or prior to the two (2) year anniversary of the First Amendment Closing Date other than (x) in connection with an amendment and restatement of this AgreementAgreement or (y) within five (5) Business Days following a demand by any Lender for Increased Costs pursuant to Section 2.12, the Borrower shall pay to the Administrative Agent for distribution to the Lenders the applicable Commitment Reduction Fee. Each notice of a reduction or termination pursuant to this Section 2.3(a) shall be irrevocable. The applicable Commitment of each Lender shall be reduced by an amount equal to its Pro Rata Share (prior to giving effect to any reduction of the Commitments hereunder) of the aggregate amount of any reduction under this Section 2.3(a).