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 with respect thereto; provided that (i) the Borrower shall provide a Repayment Notice at least one (1) Business Day 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 $1,000,000 and in integral multiples of $250,000 in excess thereof, and (iii) in the case of such termination or permanent reduction on or prior to the Scheduled Reinvestment Period End Date other than in connection with a Permitted Securitization or 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); provided that, notwithstanding anything herein to the contrary, if a Lender provides notice of its intent to assign its Commitment without the consent of the Collateral Manager pursuant to Section 12.16(a)(iii)(y) to a Kayne Competitor, (x) such reduction may (as directed by the Borrower) be solely with respect to the Commitment held by such Lender if it reduces the Commitment of such Lender to zero, (y) the Advances Outstanding owing to such Lender may be repaid in full on a non-pro rata basis (unless a Default or Event of Default has occurred and is continuing or would result) to effect such Commitment reduction and (z) no Commitment Reduction Fee shall be due to such Lender.

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 one (1) Business Day prior to the date of such termination or reduction to the Administrative Agent and the Collateral Agent (with a copy to the Collateral Manager); (ii) any partial reduction of the Commitments shall be in an amount equal to $1,000,000 5,000,000 and in integral multiples of $250,000 500,000 in excess thereof, and (iii) in the case of such termination or permanent reduction on or prior to the Scheduled Reinvestment Period End two (2) year anniversary of the Closing Date other than in connection with a Permitted Securitization or 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 (1) such termination or permanent reduction occurs as a result of a refinancing of this credit facility in connection with a distributed capital markets offering or (2) such termination or reduction is of the Commitment of any Lender requesting compensation under Sections 2.12 or 2.13 or which is unwilling or unable to fund Advances at the applicable interest rate for the reasons specifically provided for in Section 2.12. 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); provided that, notwithstanding anything herein to the contrary, if a Lender provides notice of its intent to assign its Commitment without the consent of the Collateral Manager pursuant to Section 12.16(a)(iii)(y) to a Kayne Competitor, (x) such reduction may (as directed by the Borrower) be solely with respect to the Commitment held by such Lender if it reduces the Commitment of such Lender to zero, (y) the Advances Outstanding owing to such Lender may be repaid in full on a non-pro rata basis (unless a Default or Event of Default has occurred and is continuing or would result) to effect such Commitment reduction and (z) no Commitment Reduction Fee shall be due to such Lender.

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 one (1) Business Day prior to the date of such termination or reduction to the Administrative Agent and the Collateral Agent (with a copy to the Collateral Manager); (ii) any partial reduction of the Commitments shall be in an amount equal to $1,000,000 5,000,000 and in integral multiples of $250,000 500,000 in excess thereof, and (iii) in the case of such termination or permanent reduction on or prior to the Scheduled Reinvestment Period End two (2) year anniversary of the Fourth Amendment Closing Date other than in connection with a Permitted Securitization or 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 (1) such termination or permanent reduction occurs as a result of a refinancing of this credit facility in connection with a distributed capital markets offering or (2) such termination or reduction is of the Commitment of any Lender requesting compensation under Sections 2.12 or 2.13 or which is unwilling or unable to fund Advances at the applicable interest rate for the reasons specifically provided for in Section 2.12. 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); provided that, notwithstanding anything herein to the contrary, if a Lender provides notice of its intent to assign its Commitment without the consent of the Collateral Manager pursuant to Section 12.16(a)(iii)(y) to a Kayne Competitor, (x) such reduction may (as directed by the Borrower) be solely with respect to the Commitment held by such Lender if it reduces the Commitment of such Lender to zero, (y) the Advances Outstanding owing to such Lender may be repaid in full on a non-pro rata basis (unless a Default or Event of Default has occurred and is continuing or would result) to effect such Commitment reduction and (z) no Commitment Reduction Fee shall be due to such Lender.

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 one (1) Business 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 $1,000,000 5,000,000 and in integral multiples of $250,000 500,000 in excess thereof, ; and (iii) in the case of such termination or permanent reduction on or prior to the Scheduled Reinvestment Period End two (2) year anniversary of the First Amendment Closing Date other than (x) in connection with a Permitted Securitization or 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). (b) The Borrower (or the Collateral Manager on behalf of the Borrower) may, at any time, reduce Advances Outstanding; provided that, notwithstanding anything herein to the contrary, if other than a Lender provides notice of its intent to assign its Commitment without the consent of the Collateral Manager reduction pursuant to Section 12.16(a)(iii)(y2.7 or 2.8 (i) the Borrower shall provide a Repayment Notice at least one (1) Business Day prior to a Kayne Competitor, (x) the date of such reduction to the Administrative Agent, the Collateral Agent and the Lenders (provided that same day notice may (as directed by the Borrower) be solely given with respect to curing any Borrowing Base Deficiency) and (ii) any reduction of Advances Outstanding (other than with respect to repayments of Advances Outstanding made by the Commitment held by Borrower to reduce Advances Outstanding such Lender if it reduces the Commitment that no Borrowing Base Deficiency exists) shall be in a minimum amount of such Lender to zero, $500,000 (y) unless the Advances Outstanding owing to such Lender may be repaid are less than $500,000 in full on a non-pro rata basis (unless a Default or Event of Default has occurred and is continuing or would result) to effect such Commitment which case the minimum reduction and (z) no Commitment Reduction Fee shall be due equal to the Advances Outstanding at such Lender.time) and in integral multiples of $100,000 in excess thereof. -50- USActive 55348338.2

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 with respect thereto; provided that (i) the Borrower shall provide a Repayment Notice at least one (1) Business Day 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 $1,000,000 and in integral multiples of $250,000 in excess thereof, and (iii) in the case of such termination or permanent reduction on or prior to the Scheduled Reinvestment Period End Date other than (x) in connection with a Permitted Securitization or an amendment and restatement of this AgreementAgreement or (y) immediately following a Reinvestment Period End Date pursuant to clause (f) of the definition thereof, 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); provided that, notwithstanding anything herein to the contrary, if a Lender provides notice of its intent to assign its Commitment without the consent of the Collateral Manager pursuant to Section 12.16(a)(iii)(y) to a Kayne Competitor, (x) such reduction may (as directed by the Borrower) be solely with respect to the Commitment held by such Lender if it reduces the Commitment of such Lender to zero, (y) the Advances Outstanding owing to such Lender may be repaid in full on a non-pro rata basis (unless a Default or Event of Default has occurred and is continuing or would result) to effect such Commitment reduction and (z) no Commitment Reduction Fee shall be due to such Lender.