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Common use of Mandatory Reductions Clause in Contracts

Mandatory Reductions. The aggregate unfunded Delayed Draw Term Loan Commitments shall automatically terminate at the expiration of the Delayed Draw Term Loan Availability Period.

Appears in 5 contracts

Sources: Delayed Draw Term Loan Credit Agreement (Sphere Entertainment Co.), Delayed Draw Term Loan Credit Agreement (Madison Square Garden Entertainment Corp.), Delayed Draw Term Loan Credit Agreement (MSGE Spinco, Inc.)

Related Clauses

  • Mandatory Reduction
  • Mandatory Reduction of Commitments
  • Voluntary Reductions
  • Mandatory Repayments
  • Mandatory Repayment

Parent Clauses

  • Termination or Reduction of Aggregate Revolving Commitments
  • Other Provisions Relating to Credit Facilities
  • Termination or Reduction of Commitments
  • The Commitments and Credit Extensions
  • Commitment Reductions

Sub-Clauses

  • Purchased Assets Coverage Percentage Computation
  • Deemed Collections
  • Quarterly Reductions
  • Debt or Equity Offerings
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