Common use of Mandatory Prepayments Commitment Reductions Clause in Contracts

Mandatory Prepayments Commitment Reductions. (a) (i) The Borrower shall immediately prepay the outstanding principal amount of the Advances (exclusive of undrawn Letters of Credit) in accordance with Section 2.3 on any date on which the Outstandings exceed the Facility Limit in effect at such time, in the amount of such excess.

Mandatory Prepayments Commitment Reductions. (a) (i) The Borrower shall immediately prepay the outstanding principal amount of the Advances (exclusive of undrawn Letters of Credit) in accordance with Section 2.3 on any date on which the Outstandings exceed the Facility Limit Available Commitment in effect at such time, in the amount of such excess.