Common use of Automatic Adjustments Clause in Contracts

Automatic Adjustments. Promptly following each date on which the Required Amount is (i) reduced as a result of a reduction in the Pool Balance of the Class B Certificates or otherwise or (ii) increased as a result of an increase in the Capped Interest Rate for the Class B Certificates, the Maximum Commitment shall automatically be reduced or increased, as the case may be, to an amount equal to such reduced or increased, as the case may be, Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction or increase of the Maximum Commitment to the Primary Liquidity Provider within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic adjustment of the Maximum Commitment.

Automatic Adjustments. Promptly following each date on which the Required Amount is (i) reduced as a result of a reduction in the Pool Balance of the Class B A Certificates or otherwise or (ii) increased as a result of an increase in the Capped Interest Rate for the Class B A Certificates, the Maximum Commitment shall automatically be reduced or increased, as the case may be, to an amount equal to such reduced or increased, as the case may be, Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction or increase of the Maximum Commitment to the Primary Liquidity Provider within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic adjustment of the Maximum Commitment.