Common use of Mandatory Commitment Reduction Clause in Contracts

Mandatory Commitment Reduction. Unless Majority Revolving Lenders otherwise agree, if any Specified Default exists at the time any mandatory prepayment of Term Loans is otherwise required to be made pursuant to Section 2.05(b) or 2.07(a), then the Revolving Credit Commitments shall be permanently reduced by the amount of the mandatory prepayment of Term Loans otherwise required to be applied to the prepayment of Term Loans pursuant to Section 2.05(b) or 2.07(a) in the absence of Section 2.05(b)(x) and this Section 2.06(b).

Mandatory Commitment Reduction. Unless Majority Revolving Lenders otherwise agree, if any Specified Default exists at the time any mandatory prepayment or repayment of any Class of Term Loans is otherwise required to be made pursuant to Section 2.05(b) or 2.07(a), then the Revolving Credit Commitments shall be permanently reduced by the amount of the mandatory prepayment or repayment of such Class of Term Loans otherwise required to be applied to the prepayment or repayment of such Class of Term Loans pursuant to Section 2.05(b) or 2.07(a) in the absence of Section 2.05(b)(x2.12(h) and this Section 2.06(b).