Common use of Mandatory Reduction of Revolving Commitments Clause in Contracts

Mandatory Reduction of Revolving Commitments. On the date that any prepayment is to be made pursuant to Sections 5.1(c) (iv), (v), (vi), (vii) or (viii) is required to be applied to prepay the outstanding principal amount of Revolving Loans, then on such date the Total Revolving Commitment shall be permanently reduced on such date in an amount equal to the amount of such required prepayment and any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage) and permanently reduce the Revolving Commitment of each Lender.

Mandatory Reduction of Revolving Commitments. On the date that any prepayment is to be made pursuant to Sections 5.1(c) (iv5.1(c)(iv), (v), (vi), (vii) or (viii) is required to be applied to prepay the outstanding principal amount of Revolving Loans, then on such date the Total Revolving Commitment shall be permanently reduced on such date in an amount equal to the amount of such required prepayment and any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage) and permanently reduce the Revolving Commitment of each Lender.