Common use of Mandatory Reduction of Revolving Commitments Clause in Contracts

Mandatory Reduction of Revolving Commitments. On each anniversary of the Closing Date set forth below, the Total Commitment Amount shall be automatically and permanently reduced to the respective maximum amount set forth opposite such anniversary (unless theretofore reduced under SECTION 2.5 to a lesser amount): Anniversary of Closing Date Maximum Amount --------------------------- -------------- Third $675,000,000 Fourth $600,000,000 Fifth $500,000,000 On each such date when a reduction in the Total Commitment Amount becomes effective, the Company shall make a mandatory payment of all Revolving Loans equal to the excess, if any, of the aggregate outstanding principal amount of all Revolving Loans over the Total Commitment Amount as so reduced MINUS the Effective Amount of all Letter of Credit Obligations MINUS the Effective Amount of all Swingline Loans MINUS the Effective Amount of all Alternate Currency Loans PLUS the lesser of (x) the Effective Amount of all Alternate Currency Loans supported by Alternate Currency Standby Letters of Credit and (y) the Effective Amount of all Letter of Credit Obligations with respect to Alternate Currency Standby Letters of Credit.

Mandatory Reduction of Revolving Commitments. On each anniversary of the Original Closing Date set forth below, the Total Commitment Amount shall be automatically and permanently reduced to the respective maximum amount set forth opposite such anniversary (unless theretofore reduced under SECTION Section 2.5 to a lesser amount): Anniversary of Original Maximum Amount Closing Date Maximum Amount --------------------------- -------------- Third $675,000,000 Fourth $600,000,000 Fifth $500,000,000 On each such date when a reduction in the Total Commitment Amount becomes effective, the Company shall make a mandatory payment of all Revolving Loans equal to the excess, if any, of the aggregate outstanding principal amount of all Revolving Loans over the Total Commitment Amount as so reduced MINUS minus the Effective Amount of all Letter of Credit Obligations MINUS minus the Effective Amount of all Swingline Loans MINUS minus the Effective Amount of all Alternate Currency Loans PLUS plus the lesser of (x) the Effective Amount of all Alternate Currency Loans supported by Alternate Currency Standby Letters of Credit and (y) the Effective Amount of all Letter of Credit Obligations with respect to Alternate Currency Standby Letters of Credit.