Common use of Mandatory Commitment Reductions and Prepayments Clause in Contracts

Mandatory Commitment Reductions and Prepayments. If after the date hereof the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, unless a Reinvestment Notice shall be delivered to the Administrative Agent in respect thereof within five Business Days after such Asset Sale or Recovery Event, the Revolving Credit Commitments shall be reduced by an amount equal to 100% of such Net Cash Proceeds; provided that, notwithstanding the foregoing, on each Reinvestment Prepayment Date, an amount equal to the Reinvestment Prepayment Amount with respect to the relevant Reinvestment Event shall be applied toward the permanent reduction of Revolving Credit Commitments; provided, further, that if after giving effect to any such reduction of Revolving Credit Commitments the Revolving Credit Exposure would exceed the total Revolving Credit Commitments, the Borrower shall repay the Revolving Credit Loans in an amount equal to such excess; and provided, further, that if the property subject to such Asset Sale or Recovery Event constituted Collateral, then all property purchased with Reinvestment Prepayment Amount pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Section 6.13.

Mandatory Commitment Reductions and Prepayments. If after the date hereof hereofAmendment No. 2 Effective Date the Borrower or any of its Restricted Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event Event, then, unless a Reinvestment Notice shall be delivered to the Administrative Agent in respect thereof within five Business Days after such Asset Sale or Recovery Event,receipt of such Net Cash Proceeds, and if no such Reinvestment Notice is delivered, then the Revolving Credit Commitments CommitmentsLoans shall be reduced reducedprepaid by an amount equal to 100% of such Net Cash ProceedsProceeds (without any reduction in the Revolving Credit Commitments); provided provided, that, notwithstanding the foregoing, on each Reinvestment Prepayment Date, an amount equal to the Reinvestment Prepayment Amount with respect to the relevant Reinvestment Event shall be applied toward the permanent reduction reductionprepayment of Revolving Credit Commitments; provided, further, that if after giving effect to any such suchLoans (without any reduction of ofin the Revolving Credit Commitments the Revolving Credit Exposure would exceed the total Revolving Credit Commitments, the Borrower shall repay the Revolving Credit Loans in an amount equal to such excess; and provided, further, that if the property subject to such Asset Sale or Recovery Event constituted Collateral, then all property purchased with Reinvestment Prepayment Amount pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Section 6.13.).