Common use of Reductions and Cancellations Clause in Contracts

Reductions and Cancellations. Borrower may, from time to time upon [***] Business Days’ notice to Administrative Agent permanently reduce by a minimum amount of $[***] or an integral multiples of $[***] in excess thereof, or cancel in their entirety, the Loan Commitments, subject to the provisions of this Section 2.2.2. Borrower may not reduce or cancel the Loan Commitments if, after giving effect to such reduction or cancellation, (a) the aggregate principal amount of all Loans then outstanding would exceed the aggregate amount of all Loan Commitments following the proposed reduction or (b) the Available Funds after any required Mandatory Prepayment (and any Make Whole Amount related thereto), would not, in the reasonable judgment of Administrative Agent and the Independent Engineer, equal or exceed the sum of the remaining Project Costs (including budgeted contingency (or the appropriate part thereof).

Reductions and Cancellations. Borrower may, from time to time upon [***] five (5) Business Days’ notice to Administrative Agent permanently reduce by a minimum amount of $[***] 500,000 or an integral multiples of $[***] 100,000 in excess thereof, or cancel in their entirety, the Loan Commitments, subject to the provisions of this Section 2.2.2. Borrower may not reduce or cancel the Loan Commitments if, after giving effect to such reduction or cancellation, (a) the aggregate principal amount of all Loans then outstanding would exceed the aggregate amount of all Loan Commitments following the proposed reduction or (b) the Available Funds after any required Mandatory Prepayment (and any Make Whole Amount related thereto), would not, in the reasonable judgment of Administrative Agent and the Independent Engineer, equal or exceed the sum of the remaining Project Costs (including budgeted contingency (or the appropriate part thereof).