Common use of Reduction in the Aggregate Commitment Clause in Contracts

Reduction in the Aggregate Commitment. The Borrower may, on any Settlement Date prior to the Maturity Date on not less than ten (10) days' prior irrevocable written notice to the Administrative Agents, (i) prepay in whole all of the outstanding Borrower Obligations, together with any additional amount as may be necessary to pay all amounts, including any termination payments, due to the Hedge Counterparties on such Settlement Date as a result of such prepayment, or (ii) permanently reduce in part (ratably among the Committed Lenders) that portion of the Aggregate Commitment that exceeds the Aggregate Principal Balance (the "Unused Commitment"); provided, that upon each such reduction, the Borrower shall pay on the applicable Reduction Date a Make-Whole Fee to the Administrative Agents ratably based on the Pro Rata Share of each Lender Group's Lender Group Limit at such time; provided further, that if on any Reduction Date a Lender is a Defaulting Lender, such Lender shall not be entitled to a Make-Whole Fee in connection with the reduction being given effect on such Reduction Date. Any such reduction in the Aggregate Commitment shall be applied ratably to the Lenders and shall result in reductions of each of the Commitments, the Conduit Lending Limits and the Lender Group Limits based on their respective Pro Rata Shares of the applicable reduction. Notwithstanding the foregoing, the Borrower may elect to reduce the Unused Commitment of any Defaulting Lender prior to reducing the Aggregate Commitment ratably among the non-defaulting Committed Lenders.