Common use of Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans Clause in Contracts

Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. On the date of return to any Credit Party of any surplus assets of any pension plan of the Credit Parties in excess of $50,000 with respect to any one return or related series of returns, Borrowers shall prepay the Loans, and the Commitments shall be permanently reduced, in an amount (such amount being the "NET PENSION PROCEEDS") equal to 100% of such returned surplus assets (including the first $50,000 thereof), net of transaction costs and expenses incurred in obtaining such return, including incremental taxes payable as a result thereof. Any such mandatory prepayments or reductions of the Commitments shall be applied as specified in subsection 2.4B(iv).