Common use of Commitment Reduction Notice Clause in Contracts

Commitment Reduction Notice. On or before April 30, 1996, the Company shall deliver to the Agent, the Trustee and the Purchasers either (i) a notice of its intent to eliminate, from the Financed Improvements, the Excluded Assets and to reduce correspondingly the Series 2 Note Commitment and the Series 2 Certificate Commitment (the "COMMITMENT REDUCTION") to reflect the decrease in the cost of the construction and installation of the Financed Improvements resulting from such elimination (the "COMMITMENT REDUCTION NOTICE") in the form of Exhibit I hereto or (ii) its written confirmation that it will not deliver a Commitment Reduction Notice.