Common use of Repricing Event Clause in Contracts

Repricing Event. If any Term Loans are repriced pursuant to a Repricing Event (other than, for the avoidance of doubt, the incurrence of the Initial Term Loans on the Effective Date) prior to the six (6) month anniversary of the Effective Date, whether or not such Repricing Event is pursuant to the Loan Documents, the Borrower shall pay, ratably to each Lender whose Term Loans are the subject of such Repricing Event, a prepayment premium of 1.00% of the aggregate principal amount of Term Loans so subject to such Repricing Event. The unutilized portion of the Term Loan Commitments may be irrevocably reduced or terminated by the Borrower at any time without penalty.