Commitment Decrease Event Clause Samples

Commitment Decrease Event. Anything in this Agreement to the contrary notwithstanding, it is understood and agreed that, if the Commitment Increase Date shall occur and thereafter the Commitment Decrease Event occurs, on the date of the Commitment Decrease Event: all Letters of Credit shall be terminated for all purposes of this Agreement, all Loans and other amounts payable to all Lenders other than MLBUSA and its assignees shall be prepaid in full, and all Commitments of all such other Lenders shall be terminated, all with the intent and effect that the operation of this Agreement shall revert on the date of such Commitment Decrease Event to the manner in which it operated prior to the Commitment Increase Date as if the Commitment Increase Date had never occurred. Furthermore, all then outstanding Loans payable to MLBUSA and its assignees shall, to the extent (if any) necessary, be prepaid by such amount so that, after giving effect thereto, the aggregate then outstanding principal amount thereof shall not exceed an amount (the “Reinstated Aggregate Commitments”) equal to (a) $100,000,000 minus (b) the aggregate amount of prepayments of Loans to MLBUSA and its assignees and reductions of the Commitments of MLBUSA and its assignees theretofore made or effected pursuant to this Agreement, and the aggregate then unused Commitments of MLBUSA and its assignees shall be adjusted to be equal to the excess of the Reinstated Aggregate Commitments over the aggregate principal amount of all then outstanding Loans payable to MLBUSA and its assignees.