Common use of Reduction of Available Commitment Clause in Contracts

Reduction of Available Commitment. If a Term Facility Lender’s Available Tranche A Commitment or, as the case may be, Available Tranche B Commitment is reduced in accordance with the terms hereof or the Common Terms Agreement after the Intercreditor Agent or the Term Facility Agent has received an Advance Request for a Tranche A Advance or, as the case may be, a Tranche B Advance and such reduction was not taken into account in the Available Tranche A Facility or, as the case may be, the Available Tranche B Facility, then the amount of that Tranche A Advance or, as the case may be, Tranche B Advance shall be reduced accordingly.

Appears in 2 contracts

Sources: Hotel Facility Agreement, Term Facility Agreement (Wynn Resorts LTD)