Common use of Repayment of Partnership Loans Clause in Contracts

Repayment of Partnership Loans. Promptly upon the payment (whether by optional or mandatory redemptions or prepayments, scheduled prepayments, acceleration or otherwise) of any Enstar Partnership Loan, and in no event later than one day thereafter, the Company shall prepay Loans in an amount equal to the amount of the Enstar Partnership Loan so paid, and in the case of any such prepayment (other than in connection with an optional prepayment of an Enstar Partnership Loan) the Commitments shall thereupon be permanently reduced by the amount of such prepayment.