Common use of Facility Reduction Clause in Contracts

Facility Reduction. 3.4.1 The amount of the Facility available (i) to the A Borrowers, for drawing under this Agreement shall, subject to the provisions of Clauses 2.1.1, 2.1.2, 3.4.5, 3.4.6 and 7.9.5, be the Tranche A Maximum Amount, (ii) to the B Borrowers for drawing under this Agreement shall, subject to the provisions of Clauses 2.1.1, 2.1.2, 3.4.5, 3.4.6 and 7.9.5, be the Tranche B Maximum Amount (the total being available to the Borrowers for drawing under this Agreement (subject to the provisions of Clauses 2.1.1, 2.1.2, 3.4.6 and 7.9.5) being eight hundred and twelve million Dollars ($812,000,000) (if the Tranche B Step Up Date has not occurred) or eight hundred and forty five million Dollars ($845,000,000) (if the Tranche B Step Up Date has occurred) until the first Reduction Date). On the Reduction Dates the amount of the Facility available for drawing shall be reduced by the amounts set out in Schedule 8 (the “Initial Reduction Amounts”). On the Maturity Date the Facility available shall be reduced to zero. Subject to the proviso hereto, the mandatory reductions in the amount of the Facility available for drawing required pursuant to this Clause will be made in the amounts and at the times specified whether or not the Maximum Amount is reduced pursuant to Clause 3.4.2, Clause 3.4.3, Clause 3.4.4, Clause 6.1 or Clause 7.9. PROVIDED ALWAYS THAT any reductions pursuant to Clause 3.4.2 (voluntary reductions), Clause 3.4.3 (sale) or Clause 3.4.4 (Total Loss) shall be applied to the remaining mandatory reductions hereunder on a pro rata basis.