Common use of Release upon Commitment Reduction Clause in Contracts

Release upon Commitment Reduction. In connection with any permanent reduction in the Commitments, including pursuant to Section 2.10(b), 2.20 or 9.08(a), the Administrative Agent shall surrender to, or upon the order of, the Borrower the First Mortgage Bond then held by the Administrative Agent against receipt by the Administrative Agent of a substitute First Mortgage Bond in an amount equal to the total Commitments after giving effect to the reduction.

Release upon Commitment Reduction. In connection with any permanent reduction in the Commitments, including Commitments pursuant to Section 2.10(b), 2.20 or 9.08(a2.09(b), the Administrative Agent shall surrender to, or upon the order of, the Borrower the First Mortgage Bond then held by the Administrative Agent against receipt by the Administrative Agent of a substitute First Mortgage Bond in an amount equal to the total Commitments after giving effect to the reduction.

Release upon Commitment Reduction. In connection with any permanent reduction in the Commitments, including Commitments pursuant to Section 2.10(b), 2.20 or 9.08(a), the Administrative Agent shall surrender to, or upon the order of, the Borrower the First Mortgage Bond then held by the Administrative Agent against receipt by the Administrative Agent of a substitute First Mortgage Bond in an amount equal to the total Commitments after giving effect to the reduction.