{"component": "clause", "props": {"groups": [{"size": 22, "snippet": "3.4.1 The amount of the Facility available to the Borrowers, for drawing under this Agreement shall be the Maximum Amount. On the Reduction Dates the amount of the Facility available for drawing shall be reduced by the amounts set out in Schedule 8 (the \u201cInitial Reduction Amounts\u201d). 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 3.4.5, Clause 6.1 or Clause 7.9, PROVIDED ALWAYS THAT any reductions pursuant to Clause 3.4.2 (voluntary reductions) shall be applied to the remaining mandatory reductions hereunder on a pro rata basis.\n3.4.2 The Borrowers may voluntarily cancel the Maximum Amount in whole or in part (such cancellation to be against the Tranches in the proportions specified by the Borrowers) in an amount of not less than five million Dollars ($5,000,000) such amount to be in integral multiples of one million Dollars ($1,000,000) (or as otherwise may be agreed by the Agent), provided that they have first given to the Agent not fewer than five (5) Business Days\u2019 prior written notice expiring on a Business Day (the \u201cCancellation Date\u201d) of their desire to reduce the Maximum Amount and notification of which Tranche the cancellation is to be applied against; such notice once received by the Agent shall be irrevocable and shall oblige the Borrowers to make payment of all interest and Commitment Commission accrued on the amount so cancelled up to and including the Cancellation Date together with any Break Costs in respect of such cancelled amount if the Cancellation Date is not the final day of an Interest Period. Any such reduction in the Maximum Amount shall not be reversed. If, as a result of any such cancellation, the Facility Outstandings would exceed the Tranche Maximum Amounts, the Borrowers shall, on the Cancellation Date, prepay such amount of Tranche A and/or Tranche B as will ensure that the Facility Outstandings is not greater than the Tranche Maximum Amounts.\n3.4.3 In the event of a sale or disposal of a Vessel, the relevant Tranche Maximum Amount shall be reduced to zero on the date falling thirty (30) days after such sale or disposal. The Borrowers shall, on or before such reduction date, prepay such Tranche in full. Any such prepayment shall oblige the Borrowers to make payment of all interest and Commitment Commission accrued on the amount so reduced up to and including the date of reduction together with any Break Costs in respect of such reduced amount if the date of such reduction is not the final day of an Interest Period. Any such reduction in the Maximum Amount and Tranche Maximum Amounts shall not be reversed.\n3.4.4 In the event that any Vessel becomes a Total Loss, on the earlier to occur of (a) the date of receipt of the proceeds of the Total Loss and (b) the date falling one hundred and eighty (180) days after the occurrence of the Total Loss (the \u201cTotal Loss Reduction Date\u201d), the relevant Tranche Maximum Amount shall be reduced to zero. The Borrowers shall, on the earlier to occur of (i) the date on which the relevant Owner receives the proceeds of such Total Loss and (ii) the one hundred and eightieth day after the date of such Total Loss occurring, prepay such Tranche in full PROVIDED that if the date of such repayment is not the last day of the then current Interest Period, the Borrowers shall prepay such Tranche in full on the last day of the then current Interest Period. If the amount of the prepayment is not immediately applied, the Borrowers shall promptly, if so requested by the Majority Lenders, place the amount of the prepayment in an account held with the Agent and pledge such account to the Agent as security for the Indebtedness for the period up until such funds are applied in or towards payment hereunder. Any prepayment under this Clause 3.4.4 shall not be reborrowed and Clause 8.3 shall apply to any such prepayment.\n3.4.5 In the event that (a) one of Charters is terminated early or (b) one of the Charters expires prior to the Maturity Date, the relevant Tranche Maximum Amount shall be reduced to zero. The Borrowers shall, on the earlier to occur of (i) the date on which the relevant Owner receives the notice of such Charter termination or (ii) on the expiry of the Charter prior to the Maturity Date, prepay such Tranche in full. Any prepayment under this Clause 3.4.5 shall not be reborrowed and Clause 8.3 shall apply to any such prepayment.\n3.4.6 To the extent that repayments or prepayments made by the Borrowers to the Agent in accordance with this Agreement reduce the Facility and Tranches outstanding to less than the Maximum Amount and the Tranche Maximum Amounts respectively, the Borrowers shall again be entitled to make Drawings up to the Commitment Termination Date in accordance with and subject to the terms of this Agreement. Any part of the Facility which is undrawn on the Commitment Termination Date shall be automatically cancelled.\n3.4.7 Simultaneously with each reduction of the Maximum Amount in accordance with Clause 3.4.1, Clause 3.4.2, Clause 3.4.3, Clause 3.4.4 or Clause 3.4.5 (as the case may be), the Commitment of each Lender will reduce so that the Commitments of the Lenders in respect of the amended Maximum Amount and Tranche Maximum Amounts remain in accordance with their respective Proportionate Shares. In the case of any increase in the Maximum Amount in accordance with Clause 2.1.2, the Commitment of each Lender will be in accordance with the revised Schedule 1 circulated by the Agent pursuant to Clause 2.1.2 at or about the relevant Upsize Trigger Date.", "snippet_links": [{"key": "amount-of-the-facility", "type": "clause", "offset": [10, 32]}, {"key": "available-to", "type": "definition", "offset": [33, 45]}, {"key": "the-borrowers", "type": "definition", "offset": [46, 59]}, {"key": "reduction-dates", "type": "definition", "offset": [130, 145]}, {"key": "set-out", "type": "definition", "offset": [227, 234]}, {"key": "schedule-8", "type": "clause", "offset": [238, 248]}, {"key": "reduction-amounts", "type": "definition", "offset": [263, 280]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [284, 304]}, {"key": "to-zero", "type": "definition", "offset": [345, 352]}, {"key": "mandatory-reductions", "type": "clause", "offset": [389, 409]}, {"key": "this-clause", "type": "clause", "offset": [483, 494]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [595, 613]}, {"key": "provided-always-that", "type": "clause", "offset": [689, 709]}, {"key": "voluntary-reductions", "type": "clause", "offset": [751, 771]}, {"key": "pro-rata-basis", "type": "definition", "offset": [843, 857]}, {"key": "integral-multiples", "type": "definition", "offset": [1119, 1137]}, {"key": "by-the-agent", "type": "clause", "offset": [1205, 1217]}, {"key": "provided-that", "type": "clause", "offset": [1220, 1233]}, {"key": "business-days", "type": "clause", "offset": [1293, 1306]}, {"key": "prior-written-notice", "type": "definition", "offset": [1308, 1328]}, {"key": "expiring-on", "type": "clause", "offset": [1329, 1340]}, {"key": "cancellation-date", "type": "definition", "offset": [1362, 1379]}, {"key": "notification-of", "type": "definition", "offset": [1431, 1446]}, {"key": "received-by", "type": "definition", "offset": [1521, 1532]}, {"key": "the-agent-shall", "type": "clause", "offset": [1533, 1548]}, {"key": "payment-of", "type": "definition", "offset": [1603, 1613]}, {"key": "commitment-commission", "type": "definition", "offset": [1631, 1652]}, {"key": "break-costs", "type": "clause", "offset": [1748, 1759]}, {"key": "in-respect-of", "type": "clause", "offset": [1760, 1773]}, {"key": "the-final", "type": "clause", "offset": [1828, 1837]}, {"key": "day-of", "type": "clause", "offset": [1838, 1844]}, {"key": "an-interest-period", "type": "clause", "offset": [1845, 1863]}, {"key": "reduction-in", "type": "definition", "offset": [1874, 1886]}, {"key": "facility-outstandings", "type": "definition", "offset": [1975, 1996]}, {"key": "tranche-maximum-amounts", "type": "definition", "offset": [2014, 2037]}, {"key": "tranche-a", "type": "definition", "offset": [2108, 2117]}, {"key": "tranche-b", "type": "definition", "offset": [2125, 2134]}, {"key": "in-the-event-of-a", "type": "clause", "offset": [2236, 2253]}, {"key": "disposal-of", "type": "clause", "offset": [2262, 2273]}, {"key": "relevant-tranche", "type": "definition", "offset": [2288, 2304]}, {"key": "days-after", "type": "definition", "offset": [2377, 2387]}, {"key": "reduced-amount", "type": "definition", "offset": [2724, 2738]}, {"key": "receipt-of", "type": "clause", "offset": [3005, 3015]}, {"key": "the-total", "type": "clause", "offset": [3032, 3041]}, {"key": "total-loss-reduction-date", "type": "definition", "offset": [3151, 3176]}, {"key": "relevant-owner", "type": "definition", "offset": [3316, 3330]}, {"key": "last-day", "type": "definition", "offset": [3543, 3551]}, {"key": "current-interest-period", "type": "definition", "offset": [3564, 3587]}, {"key": "requested-by", "type": "definition", "offset": [3786, 3798]}, {"key": "the-majority-lenders", "type": "clause", "offset": [3799, 3819]}, {"key": "the-agent-as", "type": "definition", "offset": [3917, 3929]}, {"key": "security-for-the-indebtedness", "type": "clause", "offset": [3930, 3959]}, {"key": "the-period", "type": "clause", "offset": [3964, 3974]}, {"key": "prior-to-the", "type": "clause", "offset": [4253, 4265]}, {"key": "notice-of", "type": "clause", "offset": [4445, 4454]}, {"key": "charter-termination", "type": "clause", "offset": [4460, 4479]}, {"key": "expiry-of", "type": "clause", "offset": [4495, 4504]}, {"key": "the-charter", "type": "clause", "offset": [4505, 4516]}, {"key": "to-the-extent", "type": "clause", "offset": [4694, 4707]}, {"key": "in-accordance-with", "type": "definition", "offset": [4774, 4792]}, {"key": "commitment-termination-date", "type": "definition", "offset": [4996, 5023]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [5062, 5085]}, {"key": "simultaneously-with", "type": "clause", "offset": [5204, 5223]}, {"key": "reduction-of", "type": "clause", "offset": [5229, 5241]}, {"key": "commitment-of-each-lender", "type": "clause", "offset": [5377, 5402]}, {"key": "commitments-of-the-lenders", "type": "clause", "offset": [5427, 5453]}, {"key": "proportionate-shares", "type": "clause", "offset": [5566, 5586]}, {"key": "in-the-case", "type": "clause", "offset": [5588, 5599]}, {"key": "schedule-1", "type": "definition", "offset": [5740, 5750]}, {"key": "upsize-trigger-date", "type": "definition", "offset": [5825, 5844]}], "samples": [{"hash": "fD56rklYl7l", "uri": "/contracts/fD56rklYl7l#facility-reduction", "label": "Secured Facility Agreement", "score": 26.5961670089, "published": true}, {"hash": "kyl7qiEmwo6", "uri": "/contracts/kyl7qiEmwo6#facility-reduction", "label": "Secured Facility Agreement (Teekay LNG Partners L.P.)", "score": 21.0, "published": true}, {"hash": "62ib0zafmHR", "uri": "/contracts/62ib0zafmHR#facility-reduction", "label": "Secured Facility Agreement (Teekay LNG Partners L.P.)", "score": 21.0, "published": true}], "hash": "e6aadd660c26484217fe0f96fb9d7251", "id": 1}, {"size": 4, "snippet": "Borrower may, at any time during the Term, elect to permanently reduce the Maximum Facility upon the following terms and conditions: (i) \u2587\u2587\u2587\u2587\u2587\u2587 shall provide Lender an irrevocable written notice no less than thirty (30) days prior to the intended effective date of the permanent reduction to the Maximum Facility (the \u201cFacility Reduction Notice\u201d); (ii) the Facility Reduction Notice shall state the total amount of the intended reduction to the Maximum Facility (\u201cMaximum Facility Reduction\u201d) and the effective date of the Maximum Facility Reduction; (iii) the aggregate outstanding principal balance of the Revolving Loan as of the date of the Facility Reduction Notice shall not exceed the Maximum Facility as reduced by the Maximum Facility Reduction (the \u201cReduced Maximum Facility\u201d); and (iv) the aggregate outstanding principal balance of the Revolving Loan subsequent to the Facility Reduction Notice shall not at any time thereafter exceed the Reduced Maximum Facility. Notwithstanding anything to the contrary contained in this Section 3.2 to the contrary, the Maximum Facility Reduction shall in no event be less than five million dollars ($5,000,000.00).", "snippet_links": [{"key": "at-any-time", "type": "clause", "offset": [14, 25]}, {"key": "during-the-term", "type": "clause", "offset": [26, 41]}, {"key": "maximum-facility", "type": "clause", "offset": [75, 91]}, {"key": "the-following-terms-and-conditions", "type": "clause", "offset": [97, 131]}, {"key": "written-notice", "type": "definition", "offset": [180, 194]}, {"key": "prior-to-the", "type": "clause", "offset": [225, 237]}, {"key": "effective-date-of-the", "type": "clause", "offset": [247, 268]}, {"key": "permanent-reduction", "type": "clause", "offset": [269, 288]}, {"key": "reduction-notice", "type": "definition", "offset": [328, 344]}, {"key": "total-amount", "type": "definition", "offset": [399, 411]}, {"key": "the-effective-date", "type": "clause", "offset": [497, 515]}, {"key": "the-revolving-loan", "type": "clause", "offset": [604, 622]}, {"key": "to-the-facility", "type": "definition", "offset": [874, 889]}, {"key": "contained-in", "type": "definition", "offset": [1018, 1030]}, {"key": "section-32", "type": "definition", "offset": [1036, 1047]}, {"key": "in-no-event", "type": "clause", "offset": [1102, 1113]}], "samples": [{"hash": "eYfCzB5GAOJ", "uri": "/contracts/eYfCzB5GAOJ#facility-reduction", "label": "Credit Agreement (Lawson Products Inc/New/De/)", "score": 21.0, "published": true}, {"hash": "6eCk0gYba9k", "uri": "/contracts/6eCk0gYba9k#facility-reduction", "label": "Credit Agreement (Lawson Products Inc/New/De/)", "score": 21.0, "published": true}], "hash": "20173271f73e7690568503e451a0ed8d", "id": 2}, {"size": 3, "snippet": "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 \u201cInitial Reduction Amounts\u201d). 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.\n3.4.2 The Borrowers may voluntarily cancel the Maximum Amount in whole or in part (such cancellation to be against the Tranches in the proportions specified by the Borrowers) in an amount of not less than five million Dollars ($5,000,000) such amount to be in integral multiples of one million Dollars ($1,000,000) (or as otherwise may be agreed by the Agent), provided that they have first given to the Agent not fewer than five (5) Business Days\u2019 prior written notice expiring on a Business Day (the \u201cCancellation Date\u201d) of their desire to reduce the Maximum Amount and notification of which Tranche the cancellation is to be applied against; such notice once received by the Agent shall be irrevocable and shall oblige the Borrowers to make payment of all interest and Commitment Commission accrued on the amount so cancelled up to and including the Cancellation Date together with any Break Costs in respect of such cancelled amount if the Cancellation Date is not the final day of an Interest Period. Any such reduction in the Maximum Amount shall not be reversed. If, as a result of any such cancellation, the Tranche A Indebtedness or the Tranche B Indebtedness would exceed the relevant Tranche Maximum Amount, the Borrowers shall, on the Cancellation Date, prepay such amount of Tranche A or Tranche B as will ensure that the Tranche A Indebtedness and/or the Tranche B Indebtedness are not greater than the respective Tranche Maximum Amounts.\n3.4.3 In the event of a sale or disposal of a Vessel or the Agent having received not less than 5 Business Days\u2019 notice from the Borrowers requesting that the security relating to a Vessel be released and discharged (a \u201cReleased Vessel\u201d), the Maximum Amount shall be reduced by the Relevant Reduction Amount applicable to that Vessel, such reduction to be applied on a pro rata basis against the Initial Reduction Amounts as reduced from time to time in accordance with this clause 3.4. Such reduction shall be made thirty (30) days after a sale or disposal of such Vessel and in the case of a Released Vessel thirty (30) days after the date proposed by the Borrowers for release and discharge of the security relating to that Vessel. If the Vessel or Released Vessel in question is replaced within thirty (30) days of the sale, disposal or release with a Replacement Vessel, and in such case of replacement any security held by the Agent (whether directly or indirectly) from the relevant Owner and over such Vessel or Released Vessel is reconstituted immediately after the sale to the new owner or after the release and discharge of security (as the case may be) or over the Replacement Vessel in substantially identical form, and the Agent obtains favourable legal opinions (on substantially the same basis as those obtained pursuant to paragraph 3 of Part 1 A and Part 1 B of Schedule 3) in respect of such reconstituted security, the Maximum Amount shall be maintained at the amount it was prior to the application of the Relevant Reduction Amount (as reduced in the meantime by any reductions under Clause 3.4.1), and in any event the Relevant Reduction Amount shall not be available for drawing during such thirty (30) day period unless and until the Agent confirms that the Maximum Amount is to be so maintained. If, as a result of any reduction in the Maximum Amount pursuant to this Clause, the Facility outstanding would exceed the Maximum Amount or the relevant Tranche outstanding would exceed the relevant Tranche Maximum Amount, the Borrowers shall, on the date of the sale, disposal or replacement, prepay such amount of the Facility as will ensure that the Facility and Tranche outstanding are not greater than the Maximum Amount and relevant Tranche Maximum Amount respectively. Any such prepayment shall oblige the Borrowers to make payment of all interest and Commitment Commission accrued on the amount so reduced up to and including the date of reduction together with any Break Costs in respect of such reduced amount if the date of such reduction is not the final day of an Interest Period. Any such reduction in the Maximum Amount and Tranche Maximum Amounts shall not be reversed save in accordance with the provisions of this Clause 3.4.3.\n3.4.4 In the event that any Vessel becomes a Total Loss, on the earlier to occur of (a) the date of receipt of the proceeds of the Total Loss and (b) the date falling one hundred and eighty (180) days after the occurrence of the Total Loss (the \u201cTotal Loss Reduction Date\u201d), the Maximum Amount shall (subject to the proviso hereto) be reduced by the Relevant Reduction Amount in respect of such Vessel. Any such reductions in the Maximum Amount shall not be reversed. If, as a result of any reduction in the Maximum Amount pursuant to this Clause, the Facility outstanding would exceed the Maximum Amount or the relevant Tranche outstanding would exceed the relevant Tranche Maximum Amount, the Borrowers shall, on the earlier to occur of (i) the date on which the relevant Owner receives the proceeds of such Total Loss and (ii) the one hundred and eightieth day after the date of such Total Loss occurring, prepay such amount of the Facility and Tranche as will ensure that the Facility and relevant Tranche outstanding is equal to or less than the Maximum Amount and relevant Tranche Maximum Amount respectively. Any such prepayment shall not be reborrowed and Clause 8.3 shall apply to any such prepayment. PROVIDED ALWAYS that if there is an investment in a Replacement Vessel on or prior to the Total Loss Reduction Date, and a guarantee from the owner of the Replacement Vessel (in such form as the Majority Lenders may require at that time) and security over such Replacement Vessel acceptable to the Majority Lenders in their absolute discretion is also executed and delivered either prior to or on the Total Loss Reduction Date, then the reduction in the Maximum Amount and Tranche Maximum Amounts shall not apply.\n3.4.5 In the event of a Collateral Transfer of a Tranche B Vessel into a Tranche A Vessel on a Collateral Transfer Date, the Tranche A Maximum Amount shall be increased and the Tranche B Maximum Amount shall be decreased in accordance with the terms of Clause 2.1.1.\n3.4.6 To the extent that repayments or prepayments made by the Borrowers to the Agent in accordance with this Agreement reduce the Facility and Tranches outstanding to less than the Maximum Amount and the Tranche Maximum Amounts respectively, the Borrowers shall again be entitled to make Drawings up to the Commitment Termination Date in accordance with and subject to the terms of this Agreement. Any part of the Facility which is undrawn on the Commitment Termination Date shall be automatically cancelled.\n3.4.7 Simultaneously with each reduction of the Maximum Amount in accordance with Clause 3.4.1, Clause 3.4.2, Clause 3.4.3 or Clause 3.4.4 (as the case may be), the Commitment of each Lender will reduce or increase (as the case may be) so that the Commitments of the Lenders in respect of the amended Maximum Amount and Tranche Maximum Amounts remain in accordance with their respective Proportionate Shares. In the case of any increase in the Maximum Amount in accordance with Clause 2.1.2, the Commitment of each Lender will be in accordance with the revised Schedule 1 circulated by the Agent pursuant to Clause 2.1.2 at or about the relevant Upsize Trigger Date.", "snippet_links": [{"key": "amount-of-the-facility", "type": "clause", "offset": [10, 32]}, {"key": "a-borrowers", "type": "definition", "offset": [54, 65]}, {"key": "subject-to-the-provisions-of-clauses", "type": "clause", "offset": [107, 143]}, {"key": "tranche-a-maximum-amount", "type": "definition", "offset": [189, 213]}, {"key": "tranche-b-maximum-amount", "type": "definition", "offset": [361, 385]}, {"key": "the-total", "type": "clause", "offset": [387, 396]}, {"key": "available-to", "type": "definition", "offset": [403, 415]}, {"key": "the-borrowers", "type": "definition", "offset": [416, 429]}, {"key": "up-date", "type": "definition", "offset": [617, 624]}, {"key": "first-reduction-date", "type": "definition", "offset": [761, 781]}, {"key": "reduction-dates", "type": "definition", "offset": [791, 806]}, {"key": "set-out", "type": "definition", "offset": [888, 895]}, {"key": "schedule-8", "type": "clause", "offset": [899, 909]}, {"key": "reduction-amounts", "type": "definition", "offset": [924, 941]}, {"key": "on-the-maturity-date", "type": "clause", "offset": [945, 965]}, {"key": "to-zero", "type": "definition", "offset": [1006, 1013]}, {"key": "mandatory-reductions", "type": "clause", "offset": [1050, 1070]}, {"key": "this-clause", "type": "clause", "offset": [1144, 1155]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [1256, 1274]}, {"key": "provided-always-that", "type": "clause", "offset": [1336, 1356]}, {"key": "voluntary-reductions", "type": "clause", "offset": [1398, 1418]}, {"key": "pro-rata-basis", "type": "definition", "offset": [1540, 1554]}, {"key": "integral-multiples", "type": "definition", "offset": [1816, 1834]}, {"key": "by-the-agent", "type": "clause", "offset": [1902, 1914]}, {"key": "provided-that", "type": "clause", "offset": [1917, 1930]}, {"key": "business-days", "type": "clause", "offset": [1990, 2003]}, {"key": "prior-written-notice", "type": "definition", "offset": [2005, 2025]}, {"key": "expiring-on", "type": "clause", "offset": [2026, 2037]}, {"key": "cancellation-date", "type": "definition", "offset": [2059, 2076]}, {"key": "notification-of", "type": "definition", "offset": [2128, 2143]}, {"key": "received-by", "type": "definition", "offset": [2218, 2229]}, {"key": "the-agent-shall", "type": "clause", "offset": [2230, 2245]}, {"key": "payment-of", "type": "definition", "offset": [2300, 2310]}, {"key": "commitment-commission", "type": "definition", "offset": [2328, 2349]}, {"key": "break-costs", "type": "clause", "offset": [2445, 2456]}, {"key": "in-respect-of", "type": "clause", "offset": [2457, 2470]}, {"key": "the-final", "type": "clause", "offset": [2525, 2534]}, {"key": "day-of", "type": "clause", "offset": [2535, 2541]}, {"key": "an-interest-period", "type": "clause", "offset": [2542, 2560]}, {"key": "reduction-in", "type": "definition", "offset": [2571, 2583]}, {"key": "tranche-a-indebtedness", "type": "definition", "offset": [2672, 2694]}, {"key": "tranche-b-indebtedness", "type": "definition", "offset": [2702, 2724]}, {"key": "relevant-tranche", "type": "definition", "offset": [2742, 2758]}, {"key": "tranche-maximum-amounts", "type": "definition", "offset": [2984, 3007]}, {"key": "in-the-event-of-a", "type": "clause", "offset": [3015, 3032]}, {"key": "disposal-of", "type": "clause", "offset": [3041, 3052]}, {"key": "the-security", "type": "clause", "offset": [3164, 3176]}, {"key": "relating-to", "type": "definition", "offset": [3177, 3188]}, {"key": "released-vessel", "type": "definition", "offset": [3229, 3244]}, {"key": "relevant-reduction-amount", "type": "definition", "offset": [3291, 3316]}, {"key": "applicable-to", "type": "clause", "offset": [3317, 3330]}, {"key": "from-time-to-time", "type": "clause", "offset": [3442, 3459]}, {"key": "in-accordance-with", "type": "definition", "offset": [3460, 3478]}, {"key": "days-after", "type": "definition", "offset": [3537, 3547]}, {"key": "in-the-case", "type": "clause", "offset": [3586, 3597]}, {"key": "the-vessel", "type": "definition", "offset": [3747, 3757]}, {"key": "within-thirty", "type": "clause", "offset": [3801, 3814]}, {"key": "the-sale", "type": "clause", "offset": [3828, 3836]}, {"key": "replacement-vessel", "type": "definition", "offset": [3865, 3883]}, {"key": "security-held", "type": "definition", "offset": [3921, 3934]}, {"key": "directly-or-indirectly", "type": "clause", "offset": [3957, 3979]}, {"key": "relevant-owner", "type": "definition", "offset": [3990, 4004]}, {"key": "new-owner", "type": "definition", "offset": [4096, 4105]}, {"key": "release-and-discharge-of-security", "type": "clause", "offset": [4119, 4152]}, {"key": "legal-opinions", "type": "definition", "offset": [4271, 4285]}, {"key": "pursuant-to-paragraph-3", "type": "clause", "offset": [4337, 4360]}, {"key": "part-1", "type": "clause", "offset": [4364, 4370]}, {"key": "b-of", "type": "definition", "offset": [4384, 4388]}, {"key": "schedule-3", "type": "definition", "offset": [4389, 4399]}, {"key": "application-of-the", "type": "clause", "offset": [4517, 4535]}, {"key": "under-clause", "type": "clause", "offset": [4608, 4620]}, {"key": "day-period", "type": "definition", "offset": [4735, 4745]}, {"key": "facility-outstanding", "type": "definition", "offset": [4914, 4934]}, {"key": "reduced-amount", "type": "definition", "offset": [5535, 5549]}, {"key": "the-provisions-of-this", "type": "clause", "offset": [5739, 5761]}, {"key": "receipt-of", "type": "clause", "offset": [5876, 5886]}, {"key": "total-loss-reduction-date", "type": "definition", "offset": [6022, 6047]}, {"key": "equal-to", "type": "definition", "offset": [6801, 6809]}, {"key": "the-owner", "type": "definition", "offset": [7125, 7134]}, {"key": "the-majority-lenders", "type": "clause", "offset": [7178, 7198]}, {"key": "and-security", "type": "clause", "offset": [7225, 7237]}, {"key": "absolute-discretion", "type": "definition", "offset": [7311, 7330]}, {"key": "executed-and-delivered", "type": "clause", "offset": [7339, 7361]}, {"key": "transfer-of-a", "type": "clause", "offset": [7536, 7549]}, {"key": "transfer-date", "type": "definition", "offset": [7607, 7620]}, {"key": "to-the-extent", "type": "clause", "offset": [7774, 7787]}, {"key": "commitment-termination-date", "type": "definition", "offset": [8076, 8103]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [8142, 8165]}, {"key": "simultaneously-with", "type": "clause", "offset": [8284, 8303]}, {"key": "reduction-of", "type": "clause", "offset": [8309, 8321]}, {"key": "commitment-of-each-lender", "type": "clause", "offset": [8443, 8468]}, {"key": "commitments-of-the-lenders", "type": "clause", "offset": [8526, 8552]}, {"key": "proportionate-shares", "type": "clause", "offset": [8665, 8685]}, {"key": "schedule-1", "type": "definition", "offset": [8839, 8849]}, {"key": "upsize-trigger-date", "type": "definition", "offset": [8924, 8943]}], "samples": [{"hash": "s4FFweqYTm", "uri": "/contracts/s4FFweqYTm#facility-reduction", "label": "Facility Agreement (Teekay Corp)", "score": 21.0, "published": true}, {"hash": "hdakFnIAugw", "uri": "/contracts/hdakFnIAugw#facility-reduction", "label": "Facility Agreement (Teekay Corp)", "score": 21.0, "published": true}, {"hash": "1VEoa5Am2Gg", "uri": "/contracts/1VEoa5Am2Gg#facility-reduction", "label": "Facility Agreement (Teekay Tankers Ltd.)", "score": 21.0, "published": true}], "hash": "de3241ad004f3768acfc4b2e583c889d", "id": 3}, {"size": 2, "snippet": "The respective Commitment of each Lender for Revolving Credit Loans is hereby reduced by $2,000,000 (such that the aggregate Commitment for Revolving Credit Loans is reduced by $4,000,000 to a total of $8,000,000, with a yearly seasonal increase to an amount not to exceed $10,000,000 for the period of March 1 to October 1), the Total Facility under the Loan Agreement is hereby reduced to $19,000,000 less amortization on the Term Loan, the Revolving Loan line is hereby reduced to $8,000,000 (subject to the seasonal increase as permitted above) and subject to a Letter of Credit subline which is hereby reduced to $5,000,000, and an Inventory subline with respect to Eligible Inventory, which is hereby reduced to $6,000,000.", "snippet_links": [{"key": "commitment-of-each-lender", "type": "clause", "offset": [15, 40]}, {"key": "revolving-credit-loans", "type": "definition", "offset": [45, 67]}, {"key": "commitment-for-revolving-credit", "type": "clause", "offset": [125, 156]}, {"key": "amount-not-to-exceed", "type": "clause", "offset": [252, 272]}, {"key": "period-of", "type": "definition", "offset": [293, 302]}, {"key": "october-1", "type": "definition", "offset": [314, 323]}, {"key": "total-facility", "type": "definition", "offset": [330, 344]}, {"key": "the-loan-agreement", "type": "clause", "offset": [351, 369]}, {"key": "the-term-loan", "type": "clause", "offset": [424, 437]}, {"key": "the-revolving-loan", "type": "clause", "offset": [439, 457]}, {"key": "subject-to-the", "type": "definition", "offset": [496, 510]}, {"key": "letter-of-credit-subline", "type": "definition", "offset": [566, 590]}, {"key": "with-respect-to", "type": "clause", "offset": [655, 670]}, {"key": "eligible-inventory", "type": "definition", "offset": [671, 689]}], "samples": [{"hash": "g8HfOGeME2c", "uri": "/contracts/g8HfOGeME2c#facility-reduction", "label": "Loan and Security Agreement (Alloy Online Inc)", "score": 18.0, "published": true}, {"hash": "fJRZ2dHLqe0", "uri": "/contracts/fJRZ2dHLqe0#facility-reduction", "label": "Loan and Security Agreement (Swi Holdings LLC)", "score": 18.0, "published": true}], "hash": "673313a0aed32a9c401f09cffa867181", "id": 4}, {"size": 2, "snippet": "2.4.1 The amount of the Facility available to the Borrower for drawing under this Agreement shall be fifty five million Dollars ($55,000,000) or the Equivalent Amount in any other Permitted Currency subject to any reductions selected by the Borrower in accordance with Clause 2.13, Clause 2.14 and/or Clause 2.15 (as the case may be). On the Termination Date the Facility available shall be reduced to zero. 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 (subject to Clause 2.14) whether or not the Maximum Facility Amount is reduced pursuant to Clause 2.15, Clause 6.6 or Clause 17.8.\n2.4.2 To the extent that repayments or prepayments made by the Borrower to the Agent in accordance with this Agreement reduce the Facility Outstandings to less than the Maximum Facility Amount, the Borrower shall again be entitled to make Drawings in accordance with and subject to the terms of this Agreement.\n2.4.3 Simultaneously with each reduction of the Maximum Facility Amount in accordance with Clause 2.13, Clause 2.14 or Clause 2.15 (as the case may be), the Commitment of each Bank will reduce so that the Commitments of the Banks in respect of the reduced Maximum Facility Amount remain in accordance with their respective Proportionate Shares.", "snippet_links": [{"key": "amount-of-the-facility", "type": "clause", "offset": [10, 32]}, {"key": "to-the-borrower", "type": "clause", "offset": [43, 58]}, {"key": "equivalent-amount", "type": "definition", "offset": [149, 166]}, {"key": "permitted-currency", "type": "definition", "offset": [180, 198]}, {"key": "by-the-borrower", "type": "clause", "offset": [234, 249]}, {"key": "in-accordance-with", "type": "definition", "offset": [250, 268]}, {"key": "the-case", "type": "definition", "offset": [317, 325]}, {"key": "termination-date", "type": "definition", "offset": [342, 358]}, {"key": "to-zero", "type": "definition", "offset": [399, 406]}, {"key": "mandatory-reductions", "type": "clause", "offset": [412, 432]}, {"key": "this-clause", "type": "clause", "offset": [506, 517]}, {"key": "subject-to-clause", "type": "clause", "offset": [574, 591]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [652, 670]}, {"key": "to-the-extent", "type": "clause", "offset": [710, 723]}, {"key": "the-agent", "type": "clause", "offset": [779, 788]}, {"key": "facility-outstandings", "type": "definition", "offset": [834, 855]}, {"key": "the-borrower-shall", "type": "clause", "offset": [898, 916]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [990, 1013]}, {"key": "simultaneously-with", "type": "clause", "offset": [1021, 1040]}, {"key": "reduction-of-the-maximum-facility-amount", "type": "clause", "offset": [1046, 1086]}, {"key": "each-bank", "type": "clause", "offset": [1186, 1195]}, {"key": "commitments-of-the-banks", "type": "clause", "offset": [1220, 1244]}, {"key": "in-respect-of", "type": "clause", "offset": [1245, 1258]}, {"key": "proportionate-shares", "type": "clause", "offset": [1338, 1358]}], "samples": [{"hash": "3jUoFjEniKv", "uri": "/contracts/3jUoFjEniKv#facility-reduction", "label": "Deed of Amendment and Restatement (Stolt Offshore S A)", "score": 21.0, "published": true}], "hash": "5a7cffccea27009c805731c8ac2dc8f4", "id": 5}, {"size": 2, "snippet": "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", "snippet_links": [{"key": "amount-of-the-facility", "type": "clause", "offset": [10, 32]}, {"key": "to-the-borrower", "type": "clause", "offset": [43, 58]}, {"key": "this-agreement", "type": "clause", "offset": [77, 91]}, {"key": "equivalent-amount", "type": "definition", "offset": [162, 179]}, {"key": "permitted-currency", "type": "definition", "offset": [193, 211]}, {"key": "period-from", "type": "definition", "offset": [223, 234]}, {"key": "execution-date", "type": "definition", "offset": [239, 253]}, {"key": "first-reduction-date", "type": "definition", "offset": [264, 284]}, {"key": "second-reduction-date", "type": "definition", "offset": [448, 469]}], "samples": [{"hash": "fkbEJZ31qo1", "uri": "/contracts/fkbEJZ31qo1#facility-reduction", "label": "Loan Agreement (Stolt Offshore S A)", "score": 18.0, "published": true}], "hash": "18a4f56af588f447743097a77365818f", "id": 6}, {"size": 1, "snippet": "(a) The aggregate amount of the Facility under this Agreement shall be the Facility Amount. On the First Reduction Date and on each of the Subsequent Reduction Dates the amount of the Facility available for drawing or that may be outstanding shall be reduced in accordance with the reduction schedule set out on Schedule VII, subject to change in such Schedule VII respecting any increase in the Facility due to the Accordion Amount. The Borrower shall also make a mandatory repayment of principal on the First Reduction Date and on each Subsequent Reduction Date such that the outstanding principal amount of the Loan is not in excess of the principal amount set forth on Schedule VII on and after such First Reduction Date and each Subsequent Reduction Date as set forth on Schedule VII, as such Schedule VII is modified if the Lenders agree to the Accordion Amount. On the Termination Date the Facility available shall be reduced to zero and the Borrower shall repay the Administrative Agent for the ratable account of the Lenders the aggregate principal amount of the Advances then outstanding.", "snippet_links": [{"key": "amount-of-the-facility", "type": "clause", "offset": [18, 40]}, {"key": "this-agreement", "type": "clause", "offset": [47, 61]}, {"key": "facility-amount", "type": "clause", "offset": [75, 90]}, {"key": "first-reduction-date", "type": "definition", "offset": [99, 119]}, {"key": "subsequent-reduction-dates", "type": "definition", "offset": [139, 165]}, {"key": "in-accordance-with", "type": "definition", "offset": [259, 277]}, {"key": "reduction-schedule", "type": "definition", "offset": [282, 300]}, {"key": "set-out", "type": "definition", "offset": [301, 308]}, {"key": "schedule-vii", "type": "definition", "offset": [312, 324]}, {"key": "change-in", "type": "clause", "offset": [337, 346]}, {"key": "accordion-amount", "type": "definition", "offset": [416, 432]}, {"key": "the-borrower-shall", "type": "clause", "offset": [434, 452]}, {"key": "mandatory-repayment-of-principal", "type": "clause", "offset": [465, 497]}, {"key": "principal-amount-of-the-loan", "type": "definition", "offset": [590, 618]}, {"key": "the-principal-amount", "type": "definition", "offset": [639, 659]}, {"key": "the-lenders", "type": "clause", "offset": [826, 837]}, {"key": "agree-to", "type": "clause", "offset": [838, 846]}, {"key": "termination-date", "type": "definition", "offset": [876, 892]}, {"key": "to-zero", "type": "definition", "offset": [933, 940]}, {"key": "the-administrative-agent", "type": "clause", "offset": [970, 994]}, {"key": "ratable-account", "type": "definition", "offset": [1003, 1018]}, {"key": "amount-of-the-advances", "type": "clause", "offset": [1058, 1080]}], "samples": [{"hash": "lNqesXkjKXD", "uri": "/contracts/lNqesXkjKXD#facility-reduction", "label": "Senior Secured Reducing Revolving Credit Facility (Diamond S Shipping Group, Inc.)", "score": 25.1533196441, "published": true}], "hash": "118b1ed22edccc979d99846256972fca", "id": 7}, {"size": 1, "snippet": "Provided that no Event of Default has occurred and is continuing, the Company may, upon not less than thirty (30) days written notice to the Bank permanently reduce the Revolving Credit Facility Cap to an amount not less than the then outstanding principal balance of the Revolving Credit Facility (including the aggregate stated amount of any Letters of Credit issued by the Bank for the account of the Company); provided, however, that any such partial reduction shall be in an aggregate amount of $100,000 or any whole multiple of $100,000 in excess thereof, and shall not reduce the Revolving Credit Facility Cap to less than $100,000. Once terminated or reduced in accordance with this Section 1A.9, the Revolving Credit Facility may not be increased without the approval of the Bank.", "snippet_links": [{"key": "provided-that", "type": "clause", "offset": [0, 13]}, {"key": "no-event-of-default", "type": "clause", "offset": [14, 33]}, {"key": "notice-to-the-bank", "type": "clause", "offset": [127, 145]}, {"key": "facility-cap", "type": "definition", "offset": [186, 198]}, {"key": "balance-of-the", "type": "clause", "offset": [257, 271]}, {"key": "aggregate-stated-amount", "type": "definition", "offset": [313, 336]}, {"key": "letters-of-credit", "type": "definition", "offset": [344, 361]}, {"key": "by-the-bank", "type": "clause", "offset": [369, 380]}, {"key": "the-account", "type": "clause", "offset": [385, 396]}, {"key": "of-the-company", "type": "clause", "offset": [397, 411]}, {"key": "aggregate-amount", "type": "definition", "offset": [480, 496]}, {"key": "in-accordance-with", "type": "definition", "offset": [667, 685]}, {"key": "approval-of", "type": "clause", "offset": [768, 779]}], "samples": [{"hash": "jhTI3XJkeZ4", "uri": "/contracts/jhTI3XJkeZ4#facility-reduction", "label": "Revolving Credit Agreement (Lumber Liquidators, Inc.)", "score": 21.0, "published": true}], "hash": "0fe3c75ca7070e1b9b0c427dc7e8d1d4", "id": 8}, {"size": 1, "snippet": "2.4.1 The amount of the Facility available to the Borrowers for drawing under this Agreement shall be one hundred and thirty seven million five hundred thousand Dollars ($137,500,000) during the period from the Execution Date until the First Reduction Date. On the First Reduction Date and on each of the seventeen (17) Subsequent Reduction Dates the amount of the Facility available for drawing shall be reduced by an amount equal to one thirty first (1/ st) of the Maximum Facility Amount as at the Execution Date. In the event of a Change of Control the amount of the Facility available for drawing shall be reduced to zero and any outstanding Drawings shall be immediately repayable. On the Termination Date the Facility available shall be reduced to zero. 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 Facility Amount is reduced pursuant to Clause 2.4.3, Clause 2.4.4, Clause 5.2, Clause 15.7 or Clause", "snippet_links": [{"key": "amount-of-the-facility", "type": "clause", "offset": [10, 32]}, {"key": "available-to", "type": "definition", "offset": [33, 45]}, {"key": "the-borrowers", "type": "definition", "offset": [46, 59]}, {"key": "this-agreement", "type": "clause", "offset": [78, 92]}, {"key": "period-from", "type": "definition", "offset": [195, 206]}, {"key": "execution-date", "type": "definition", "offset": [211, 225]}, {"key": "first-reduction-date", "type": "definition", "offset": [236, 256]}, {"key": "subsequent-reduction-dates", "type": "definition", "offset": [320, 346]}, {"key": "equal-to", "type": "definition", "offset": [426, 434]}, {"key": "maximum-facility-amount", "type": "definition", "offset": [467, 490]}, {"key": "a-change-of-control", "type": "definition", "offset": [533, 552]}, {"key": "to-zero", "type": "definition", "offset": [619, 626]}, {"key": "termination-date", "type": "definition", "offset": [695, 711]}, {"key": "mandatory-reductions", "type": "clause", "offset": [765, 785]}, {"key": "this-clause", "type": "clause", "offset": [859, 870]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [980, 998]}], "samples": [{"hash": "g45cTZQN4pN", "uri": "/contracts/g45cTZQN4pN#facility-reduction", "label": "Secured Reducing Revolving Loan Facility Agreement", "score": 26.5961670089, "published": true}], "hash": "01f70dbf969de4d9134d45b0f87e0a40", "id": 9}, {"size": 1, "snippet": "The amount of the Facility is hereby reduced from One Hundred Seventy-Five Million Dollars ($175,000,000) to One Hundred Fifty Million Dollars ($150,000,000).", "snippet_links": [{"key": "amount-of-the-facility", "type": "clause", "offset": [4, 26]}], "samples": [{"hash": "eoOBDHRkGrn", "uri": "/contracts/eoOBDHRkGrn#facility-reduction", "label": "Credit Agreement (Manufactured Home Communities Inc)", "score": 18.0, "published": true}], "hash": "b108677e9cf7bbb1cf64d706f16aba8d", "id": 10}], "next_curs": "ClsSVWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjcLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhtmYWNpbGl0eS1yZWR1Y3Rpb24jMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 42, "title": "Facility Reduction", "children": [], "parents": [["the-facility-and-its-purpose", "The Facility and its Purpose"], ["credit", "Credit"], ["facility-and-its-purpose", "FACILITY AND ITS PURPOSE"], ["conditions-of-utilisation", "Conditions of Utilisation"], ["definitions-and-interpretation", "DEFINITIONS AND INTERPRETATION"]], "id": "facility-reduction", "related": [["termination-or-reduction-of-revolving-commitments", "Termination or Reduction of Revolving Commitments", "Termination or Reduction of Revolving Commitments"], ["termination-or-reduction-of-aggregate-revolving-commitments", "Termination or Reduction of Aggregate Revolving Commitments", "Termination or Reduction of Aggregate Revolving Commitments"], ["reallocation-of-applicable-revolving-percentages-to-reduce-fronting-exposure", "Reallocation of Applicable Revolving Percentages to Reduce Fronting Exposure", "Reallocation of Applicable Revolving Percentages to Reduce Fronting Exposure"], ["termination-or-reduction-of-revolving-credit-commitments", "Termination or Reduction of Revolving Credit Commitments", "Termination or Reduction of Revolving Credit Commitments"], ["commitment-reduction", "Commitment Reduction", "Commitment Reduction"]], "related_snippets": [], "updated": "2025-07-07T16:38:45+00:00"}, "json": true, "cursor": ""}}