Common use of Optional Reductions Clause in Contracts

Optional Reductions. At any time after the Closing Date, the Borrower shall have the right to terminate or reduce the unused amount of the Facility Amount at any time or from time to time concurrently with the payment of any applicable Facility Reduction Fee payable in connection therewith upon not less than two (2) Business Days’ prior notice to the Collateral Agent, the Lenders and the Administrative Agent of each such termination or reduction, which notice shall specify the effective date of such termination or reduction and the amount of any such reduction; provided that (i) the amount of any such reduction of the Facility Amount shall be equal to at least $500,000 or an integral multiple of $100,000 in excess thereof or, if less, the remaining unused portion thereof, (ii) no such reduction will reduce the Facility Amount below the sum of (x) the aggregate principal amount of Advances outstanding at such time and (y) the positive difference, if any, between the Revolving Exposure at such time and the amount in the Revolving Reserve Account and (iii) no Facility Reduction Fee shall be payable if a Non-Approval Event has occurred and is continuing or if the reduction occurs in connection with a refinancing of all or a portion of the facility by BNP Paribas or any affiliate thereof. Such notice of termination or reduction shall be irrevocable and effective only upon receipt and shall be applied pro rata to reduce the respective Individual Lender Maximum Funding Amounts of each Lender. Except as otherwise set forth herein, upon the occurrence of the Collection Date, this Agreement shall terminate automatically.

Optional Reductions. At any time after the Closing Date but prior to the Conversion Date, the Borrower shall have the right to terminate or reduce the unused amount of the Maximum Facility Amount at any time or from time to time concurrently with the payment of any applicable Facility Reduction fees payable pursuant to the Administrative Agent Fee payable Letter in connection therewith upon not less than two (2) Business Days’ prior notice to the Collateral Agent, the Lenders and the Administrative Agent of each such termination or reduction, which notice shall specify the effective date of such termination or reduction and the amount of any such reduction; provided that (i) the amount of any such reduction of the Maximum Facility Amount shall be equal to at least $500,000 or an integral multiple of $100,000 in excess thereof or, if less, the remaining unused portion thereof, thereof and (ii) no such reduction will reduce the Maximum Facility Amount below the sum of (x) the aggregate principal amount of Advances Loans outstanding at such time and (y) the positive difference, if any, between aggregate amount of unfunded advances under Delayed Drawdown Collateral Obligations and Revolving Collateral Obligations that the Revolving Exposure Borrower has committed to fund but not borrowed Loans to fund at such time and the amount in the Revolving Reserve Account and (iii) no Facility Reduction Fee shall be payable if a Non-Approval Event has occurred and is continuing or if the reduction occurs in connection with a refinancing of all or a portion of the facility by BNP Paribas or any affiliate thereoftime. Such notice of termination or reduction shall be irrevocable and effective only upon receipt and shall be applied pro rata to reduce the respective Individual Lender Maximum Funding Amounts of each Lender. Except as otherwise set forth herein, upon the occurrence The Individual Lender Maximum Funding Amounts of the Collection Date, Lenders once terminated or reduced may not be reinstated. Each reduction of the Maximum Facility Amount pursuant to this Agreement Section 2.07 shall terminate automaticallybe applied ratably among the Lenders in accordance with their respective Individual Lender Maximum Funding Amounts.

Optional Reductions. At any time after Prior to the Closing Conversion Date, the Borrower shall have the right to terminate or reduce the unused amount of the Maximum Facility Amount in part or terminate the Reinvestment Period and reduce the Maximum Facility Amount in full, at any time or from time to time concurrently with the payment of any applicable Facility Reduction Fee payable in connection therewith upon not less than two three (23) Business Days’ prior notice to the Collateral Agent, the Lenders and the Administrative Agent of each such termination or partial reduction, which notice shall specify the effective date of such termination or partial reduction and the amount of any such partial reduction; provided that (i) the amount of any such reduction of the Maximum Facility Amount shall be equal to at least the Dollar Equivalent of $500,000 or an integral multiple of the Dollar Equivalent of $100,000 in excess thereof or, if less, the remaining unused portion thereof, and (ii) no such reduction or termination will (when taken together with any concurrent prepayment of the Advances pursuant to Section 2.06(a)) reduce the Maximum Facility Amount below the sum of (x) the Dollar Equivalent of the aggregate principal amount of Advances outstanding at such time and (y) the positive difference, if any, between the Revolving Exposure at such time and the amount in the Revolving Reserve Account and (iii) no Facility Reduction Fee shall be payable if a Non-Approval Event has occurred and is continuing or if the reduction occurs in connection with a refinancing of all or a portion of the facility by BNP Paribas or any affiliate thereoftime. Such notice of termination or partial reduction shall be irrevocable and effective only upon receipt and shall be applied pro rata to reduce the respective Individual Lender Maximum Funding Allocated Facility Amounts of each Lender. Except as otherwise set forth herein, upon the occurrence of the Collection DateDate (including the occurrence of the Collection Date following the termination of Reinvestment Period and the reduction of the Allocated Facility Amounts to zero by the Borrower pursuant to this clause (b) and the prepayment of all Obligations in accordance with Section 2.06(a)), this Agreement shall terminate automatically.

Optional Reductions. At any time after the Closing Date, the The Borrower shall have the right to terminate or reduce the unused amount of the Facility Amount at any time or from time to time concurrently with time, without penalty or premium (other than the payment of any applicable Facility Reduction Make-Whole Amount specified in the Lender Fee payable in connection therewith Letter) upon not less than two (2) Business Days’ prior notice to the Collateral Agent, the Lenders and the Administrative Agent of each such termination or reduction, which notice shall specify the effective date of such termination or reduction and the amount of any such reduction; provided that a notice of termination or reduction may state that such notice is conditioned upon the effectiveness of other events, in which case such notice may be revoked by the Borrower (by notice of the Administrative Agent and the Collateral Agent on or prior to the specified effective date) if such condition is not satisfied; provided further that, in each case, (i) the amount of any such reduction of the Facility Amount shall be equal to at least $500,000 or an integral multiple of $100,000 in excess thereof or, if less, the remaining unused portion thereof, thereof and (ii) no such reduction will reduce the Facility Amount below the sum of (x) the aggregate principal amount of Advances outstanding at such time and (y) the positive difference, if any, between the Revolving Delayed Drawdown Exposure at such time and the amount in the Revolving Reserve Account and (iii) no Facility Reduction Fee shall be payable if a Non-Approval Event has occurred and is continuing or if the reduction occurs in connection with a refinancing of all or a portion of the facility by BNP Paribas or any affiliate thereoftime. Such notice of termination or reduction shall be irrevocable and effective only upon receipt and shall reduce the Maximum Facility Amount and be applied pro rata to reduce the respective Individual Lender Maximum Funding Amounts of each Lender. Except as otherwise set forth herein, upon the occurrence of the Collection Date, this Agreement shall terminate automatically.

Optional Reductions. At any time after the Closing Date, the Borrower shall have the right to terminate or reduce the unused amount of the Facility Amount at any time or from time to time concurrently with the payment of any applicable Facility Reduction Fee payable in connection therewith upon not less than two (2) Business Days’ prior notice to the Collateral Agent, the Lenders and the Administrative Agent of each such termination or reduction, which notice shall specify the effective date of such termination or reduction and the amount of any such reduction; provided that (i) the amount of any such reduction of the Facility Amount shall be equal to at least $500,000 or an integral multiple of $100,000 in excess thereof or, if less, the remaining unused portion thereof, (ii) no such reduction will reduce the Facility Amount below the sum of (x) the aggregate principal amount of Advances outstanding at such time and (y) the positive difference, if any, between the Revolving Exposure at such time and the amount in the Revolving Reserve Account and (iii) no Facility Reduction Fee shall be payable if a Non-Approval Event has occurred and is continuing or if the reduction occurs in connection with a refinancing of all or a portion of the facility by BNP Paribas or any affiliate thereof. Such notice of termination or reduction shall be irrevocable and effective only upon receipt and shall USActive 54953942.1755479929.4-64- be applied pro rata to reduce the respective Individual Lender Maximum Funding Amounts of each Lender. Except as otherwise set forth herein, upon the occurrence of the Collection Date, this Agreement shall terminate automatically.