Common use of Facility Reduction Clause in Contracts

Facility Reduction. 2.4.1 The amount of the Facility available to the Borrower for drawing under this Agreement shall be four hundred and forty million Dollars ($440,000,000) or the Equivalent Amount in any other Permitted Currency during the period from the Execution Date until the First Reduction Date. On the First Reduction Date the amount of the Facility available for drawing shall reduce to three hundred and eighty five million Dollars ($385,000,000). On the Second Reduction Date the amount of the

Facility Reduction. 2.4.1 The amount of the Facility available to the Borrower for drawing under this Agreement shall be four one hundred and forty million Dollars ($440,000,000100,000,000) or the Equivalent Amount in any other Permitted Currency during the period from the Execution Date until the First Reduction Date. On the First each Reduction Date the amount of the Facility available for drawing shall reduce to three hundred and eighty five by ten million Dollars ($385,000,00010,000,000). On the Second Reduction Termination Date the Facility available shall be reduced to zero. The mandatory reductions in the amount of thethe Facility available for drawing required pursuant to this Clause will be made in the amounts and at the times specified (subject to Clause 2.