Common use of Automatic Adjustments Clause in Contracts

Automatic Adjustments. Promptly following each date on which the Required Amount is reduced as a result of a reduction in the Pool Balance of the Class A Certificates or otherwise, clause (y) of the definition of Maximum Commitment shall automatically be reduced to an amount equal to the Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction of the Maximum Commitment to the Liquidity Provider within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic reduction of the Maximum Commitment.

Automatic Adjustments. Promptly following each date on which the Required Amount is reduced as a result of a reduction in the Pool Balance of the Class A C Certificates or otherwise, clause (y) of the definition of Maximum Commitment shall automatically be reduced to an amount equal to the Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction of the Maximum Commitment to the Liquidity Provider within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic reduction of the Maximum Commitment.

Automatic Adjustments. Promptly following each date on which the Required Amount is reduced as a result of a reduction in the Pool Balance of the Class A B Certificates or otherwise, clause (y) of the definition of Maximum Commitment shall automatically be reduced to an amount equal to the Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction of the Maximum Commitment to the Liquidity Provider within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic reduction of the Maximum Commitment.