Common use of Reduction of Available Commitment Clause in Contracts

Reduction of Available Commitment. If a Lender’s Commitment is reduced pursuant to Clause 11 (Cancellation and Prepayment) or Clause 14 (Illegality) after the Facility Agent has received the Utilisation Request pursuant to this Clause 4 and such reduction was not taken into account in calculating the relevant Available Facility, then the amount of the relevant Revolving Advance shall be reduced accordingly.

Appears in 2 contracts

Sources: Fleet Financing Facility Agreement (Avis Budget Group, Inc.), Avis Europe Interim Fleet Financing Facility Agreement (Avis Budget Group, Inc.)