Common use of Mandatory Reductions of Revolving Commitment Clause in Contracts

Mandatory Reductions of Revolving Commitment. To the extent that in any Fiscal Year the Borrower and the Subsidiaries sell, lease, transfer or otherwise dispose of more than 20% of the Tangible Assets of the Borrower and the Subsidiaries as of the end of the prior Fiscal Year, then (i) the Borrower shall prepay the amount of Revolving Outstandings subject to the Intercreditor Agreement, (ii) there shall be a mandatory reduction of the Revolving Commitment to $150,000,000 to be allocated among the Lenders based on their Pro Rata Share at the time of such mandatory reduction, and (iii) the Borrower’s rights under Section 2.7 herein shall terminate.

Mandatory Reductions of Revolving Commitment. To the extent that in any Fiscal Year the Borrower and the its Subsidiaries sell, lease, transfer or otherwise dispose of more than 20% of the Tangible Assets of the Borrower and the its Subsidiaries as of the end of the prior Fiscal Year, then (i) the Borrower shall prepay the amount of Revolving Outstandings subject to the Intercreditor Agreement, (ii) there shall be a mandatory reduction of the Revolving Commitment to $150,000,000 75,000,000 to be allocated among the Lenders based on their Pro Rata Share at the time of such mandatory reduction, and (iii) the Borrower’s rights under Section 2.7 herein shall terminate.