Common use of Loan Commitment Amount Reductions Clause in Contracts

Loan Commitment Amount Reductions. The Borrower may, on not less than 30 days prior written notice to DOE and upon the satisfaction of any consent requirement or other applicable provisions of this Agreement and each Loan Document, permanently reduce the Loan Commitment Amount, in whole or in part, but only if: (a) DOE is satisfied that the proposed reduction or cancellation would not cause a Default or an Event of Default; (b) the Borrower shall have delivered to DOE, by an Acceptable Delivery Method, a certificate, in form and substance satisfactory to DOE, with respect to the matters set forth in clause (a) above; and (c) to the extent permitted by applicable Law, upon such cancellation or reduction, the Borrower shall pay all expenses and other amounts then due with respect to such cancellation or reduction under this Agreement. Once reduced or canceled, the Loan Commitment Amount may not be increased.

Loan Commitment Amount Reductions. The Borrower may, on not less than 30 thirty (30) days prior written notice to DOE and upon the satisfaction of any consent requirement or other applicable provisions of this Agreement and each Loan Document, permanently reduce the Loan Commitment Amount, in whole or in part, but only if: (a) DOE is satisfied that the proposed reduction or cancellation would not cause a Default or an Event of Default; (b) the Borrower shall have delivered to DOE, by an Acceptable Delivery Method, a certificate, in form and substance satisfactory to DOE, with respect to the matters set forth in clause (a) above; and (c) to the extent permitted by applicable Requirements of Law, upon such cancellation or reduction, the Borrower shall pay all expenses and other amounts then due with respect to such cancellation or reduction under this Agreement. Once reduced or canceled, the Loan Commitment Amount may not be increased.