Common use of Automatic Reductions and Increases Clause in Contracts

Automatic Reductions and Increases. (i) On the Adjustment Date, without any action by Borrower, Administrative Agent or any other Person, (A) each Total Commitment shall be automatically and permanently reduced by the Allocated Portion of such Total Commitment for any Project that is not an Approved Project as of the Adjustment Date, and (B) each such Allocated Portion shall be automatically and permanently reduced to $0. Borrower shall pay to Administrative Agent any Commitment Fees then due in respect of the canceled portion of each Total