Term Lender Option to Decline Prepayments Sample Clauses

Term Lender Option to Decline Prepayments. If the Borrowers are required to prepay the Term Loans under clauses (i) through (iv) of this Section 2.09(h), each Term Lender shall have the right to elect to decline its pro rata share of any such Term Loan prepayment by delivering written notice to the Administrative Agent and the Borrowers not later than three (3) Business Days prior to the scheduled date of any such Term Loan prepayment and, to the extent any Term Lender shall decline any such prepayment, the Revolving Commitments shall automatically reduce by the amount so declined, effective on the originally scheduled date of such prepayment (it being understood for avoidance of doubt that any such reduction of the Revolving Commitments pursuant to this clause (vi) in respect of any mandatory prepayment event shall be in addition to any reduction of Revolving Commitments pursuant to clauses (i) through (iv) of this Section 2.09(h) in respect of such mandatory prepayment event). In the event that a Term Lender shall not have delivered a written notice to the Administrative Agent and the Borrowers by the third Business Day prior to the scheduled date of any Term Loan prepayment indicating that such Term Lender wishes to decline its pro rata share thereof, such Term Lender shall be deemed to have elected to accept its pro rata share thereof.