Common use of Mandatory Reductions of Revolving Commitment Clause in Contracts

Mandatory Reductions of Revolving Commitment. On the date of a Mandatory Prepayment Event under Section 6.2.2(a)(iii) hereof, the Revolving Commitment shall be reduced by the amount of such mandatory prepayment; provided, however, such reduction shall not exceed $100,000,000. In the event of a Mandatory Prepayment Event under Section 6.2.2(a)(i) or (ii) hereof, the Revolving Commitment shall not be reduced by any amount.

Appears in 2 contracts

Sources: Credit Agreement (Titan International Inc), Credit Agreement (Titan International Inc)