Mandatory Prepayments and Commitment Reductions. (a) If for any reason the Total Revolving Extensions of Credit exceeds the lesser of (x) the Total Revolving Commitments then in effect and (y) the Maximum Permitted Outstanding Amount, the Borrowers shall immediately prepay the applicable Loans in an aggregate amount equal to such excess.
Appears in 3 contracts
Samples: Credit Agreement (Colony Capital, Inc.), Fourth Amendment (Colony Capital, Inc.), Guarantee and Collateral Agreement (Colony NorthStar Credit Real Estate, Inc.)
Mandatory Prepayments and Commitment Reductions. (a) If for any reason the Total Revolving Extensions of Credit exceeds the lesser of (x) the Total Revolving Commitments then in effect and (y) the Maximum Permitted Outstanding Amount, the Borrowers Borrower shall immediately immediately, prepay the applicable Loans in an aggregate amount equal to such excess.
Appears in 2 contracts
Samples: Credit Agreement (Colony Capital, Inc.), Credit Agreement (Colony NorthStar, Inc.)
Mandatory Prepayments and Commitment Reductions. (a) If for any reason the Total Revolving Extensions of Credit (or, on or following the Revolving Termination Date, the aggregate principal amount of outstanding Converted Term Loans) exceeds the lesser of (x) the Total Revolving Commitments then in effect and (y) the Maximum Permitted Outstanding Amount, the Borrowers Borrower shall immediately immediately, prepay the applicable Loans in an aggregate amount equal to such excess.
Appears in 2 contracts
Samples: Credit Agreement (Colony Financial, Inc.), Credit Agreement (Colony Financial, Inc.)
Mandatory Prepayments and Commitment Reductions. (a) If for any reason the Total Revolving Extensions of Credit exceeds the lesser of (x) at any time exceed the Total Revolving Commitments then in effect and (y) the Maximum Permitted Outstanding Amounteffect, the Borrowers Borrower shall immediately prepay the applicable Loans in an aggregate amount equal to such excessLoans.
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Mandatory Prepayments and Commitment Reductions. (a) If for any reason the Total Revolving Extensions of Credit exceeds the lesser of (x) the Total Revolving Commitments then in effect and (y) the Maximum Permitted Outstanding Amount, the Borrowers BorrowerBorrowers shall immediately immediately, prepay the applicable Loans in an aggregate amount equal to such excess.
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