Common use of MCR Clause in Contracts

MCR. As of the 31st day of each calendar month, commencing October 31, 2016, the Revolver Commitment Amount shall be automatically reduced by $15,000.00 per month (the "MCR"). To the extent the outstanding principal balance of the Revolver Note (including Letter of Credit Exposure) is in excess of the adjusted amount of the Revolver Commitment Amount, the Borrower shall make a mandatory principal prepayment on the Revolver Note in such amount as is necessary to reduce the outstanding principal balance of the Revolver Note (including Letter of Credit Exposure) to an amount less than or equal to the adjusted Revolver Commitment Amount, which such mandatory principal prepayment shall be made within five (5) days of the applicable MCR application.

MCR. As of the 31st last day of each calendar month, commencing October August 31, 20162018, the Revolver Commitment Amount shall be automatically reduced by $15,000.00 100,000.00 per month (the "“MCR"”). To the extent the outstanding principal balance of the Revolver Note (including Letter of Credit Exposure) is in excess of the adjusted amount of the Revolver Commitment Amount, the Borrower shall make a mandatory principal prepayment on the Revolver Note in such amount as is necessary to reduce the outstanding principal balance of the Revolver Note (including Letter of Credit Exposure) to an amount less than or equal to the adjusted Revolver Commitment Amount, which such mandatory principal prepayment shall be made within five (5) days of the applicable MCR application.