ANNUAL CLEAN DOWN Sample Clauses

ANNUAL CLEAN DOWN. The Borrower shall repay Revolving Loans and Swing Loans so that for a thirty (30) consecutive day period occurring during the first Fiscal Quarter of each Fiscal Year there shall be no greater than $16,500,000 outstanding, in the aggregate, of Revolving Loans and Swing Loans.”
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ANNUAL CLEAN DOWN. The Borrower shall prepay General Revolving Loans and Swing Line Revolving Loans at such times and in such amounts, conforming in the case of partial prepayments to the requirements as to the amount of partial prepayments which are contained in section 5.1, so that during a period of 30 consecutive days occurring between January 1 and March 1 of any calendar year identified below, the sum of (x) the aggregate outstanding principal amount of Loans, (y) the Letter of Credit Outstandings, and (z) the Reserved Amount, on each day during such period of 30 consecutive days does not exceed $200,000,000. If the Borrower completes an offering of its equity securities for net proceeds which are in excess of the aggregate principal amount of, and such net proceeds are in fact used (together with any other required amounts) to retire, the Subordinated Bridge Debt in full, then the amount specified in the preceding sentence shall be reduced by an amount equal to such excess.
Sample 1
ANNUAL CLEAN DOWN. During each Fiscal Year, for a period of thirty (30) consecutive days commencing not earlier than August 1 of such Fiscal Year and ending not later than November 30 of such Fiscal Year, the aggregate amount of all Revolving Credit Loans outstanding shall not exceed $20,000,000; provided that in Fiscal Year 2001, the aggregate amount of all Revolving Credit Loans outstanding in such thirty (30) day period shall not exceed $22,000,000. At the beginning of each such thirty (30) day period, the Borrower shall pay down Revolving Credit Loans outstanding to such level.
Sample 1
ANNUAL CLEAN DOWN. Effective on the Effective Date of this Amendment provided for in section 4 hereof, section 9.11 of the Credit Agreement is amended to add the following at the end thereof: Notwithstanding the foregoing, but only as of and for the fiscal year ended on or nearest to January 31, 2000, the maximum amount referred to above shall be increased from $85,000,000 to $101,000,000.
Sample 1
ANNUAL CLEAN DOWN. The Borrower will not, on any day during at least one period of 30 consecutive days occurring during a period identified below, permit its Consolidated Total Senior Balance Sheet Debt to exceed the amount shown below: --------------------------------------------------------------- ----------------------------- PERIOD AMOUNT --------------------------------------------------------------- ----------------------------- Three Consecutive Calendar Months Ended $85,000,000 February 28, 2001 --------------------------------------------------------------- ----------------------------- Three Consecutive Calendar Months Ended $100,000,000 February 28, 2002 --------------------------------------------------------------- ----------------------------- Three Consecutive Calendar Months Ended Add $15,000,000 to the February 28 or 29 of any subsequent year amount for the end of the preceding year --------------------------------------------------------------- -----------------------------
Sample 1
ANNUAL CLEAN DOWN. The Borrower will not at any time permit its Consolidated Total Senior Balance Sheet Debt to exceed $85,000,000 on any day during at least one period of 30 consecutive days during the 12 consecutive calendar months then most recently ended, PROVIDED that (i) the foregoing amount (as it may from time to time be increased as herein provided), shall be increased by $15,000,000 effective as of the last day of each fiscal year, commencing with the Borrower's fiscal year ended on or nearest to January 31, 2001, and (ii) for purposes of determining the amount of Consolidated Total Senior Balance Sheet Debt outstanding for any period prior to the Closing Date, the aggregate principal amount of Subordinated Notes outstanding on the Closing Date shall be deemed to have refinanced an equivalent principal amount of such Consolidated Total Senior Balance Sheet Debt.
Sample 1

Related to ANNUAL CLEAN DOWN

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Minimum Shareholders’ Equity The Borrower will not permit Shareholders’ Equity at the last day of any fiscal quarter of the Borrower to be less than $500,000,000 plus 25% of the net proceeds of the sale of Equity Interests by the Borrower and its Subsidiaries after the Ninth Amendment Effective Date (other than proceeds of sales of Equity Interests by and among the Borrower and its Subsidiaries).

  • Vacation Earnings for Partial Years (1) During the first partial year of service a new employee will earn vacation at the rate of three and two-thirds (32/3) days for each month for which the employee earns ten (10) days pay. (2) Subject to Clause 17.8, any unused vacation earned during the first (1st) partial year will be paid to the employee at December 31st of that year. (b) During the first (1st) and subsequent vacation years an employee will earn one-twelfth (1/12) of the annual entitlement for each month in which the employee has received at least ten (10) days' pay at straight-time rates. Where an employee has taken more vacation than earned, the unearned portion taken shall be charged against future earned credits or recovered upon termination whichever occurs first.

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) its and each of its Domestic Subsidiaries’ fiscal years to end on December 31 of each calendar year and (ii) its and each of its Domestic Subsidiaries’ fiscal quarters to end on March 31, June 30, September 30 and December 31 of each calendar year.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Are There Penalties for Early Distribution from a Xxxx XXX As indicated above, earnings on your contributions, as well as amounts contributed to a Xxxx XXX as a rollover from a Traditional IRA, that are distributed before certain events are subject to various taxes. Please see IRS Publication 590 for further information about Xxxx XXX rules and restrictions.

  • Annual Compensation The Executive's "Annual Compensation" for purposes of this Agreement shall be deemed to mean the highest level of base salary paid to the Executive by the Employers or any subsidiary thereof during any of the three calendar years ending during the calendar year in which the Date of Termination occurs.

  • Prime Time Vacation Period Subject to the provisions of this article, it is the intent of the parties that no employee will be restricted in the time of year they choose to take their vacation. The Employer will make every effort to allow employees to take their vacation during the period of April 15th to October 15th inclusive, which will be defined as the prime time vacation period.

  • ANNUAL CAPS The maximum aggregate amount to be paid under the Shipping Framework Agreement for each calendar year during the term of the Shipping Framework Agreement is capped at US$10.0 million. On this basis, the Annual Cap is US$10.0 million for 2023 and US$10.0 million for 2024. The annual cap was determined by reference to the agreed pricing principles set out in the Shipping Framework Agreement, projected production volumes and schedules of the Group, requirements of buyers including loading and discharging points and prevailing and projected international market sea freight rates for similar services from Peru and Australia.

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid If you hold Plan accounts in an omnibus account (i.e., multiple Plans in one account on the books of the Funds), Plans that are added to the omnibus account after May 15, 2002 may invest only in R shares, and you must execute an Omnibus Addendum to the Selling Group Agreement, which you can obtain by calling our Home Office Service Team at 800/421-5475, extension 8.

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