Automatic Reductions. Promptly following each date on which the Required Amount is reduced as a result of a reduction in the Pool Balance of the Class A Pass Through Certificates or otherwise, the Commitment shall automatically be reduced to an amount equal to such reduced Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction of the Commitment (substantially in the form of Annex IV hereto) to the Liquidity Provider (with a copy to Federal Express Corporation) within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic reduction of the Commitment.
Automatic Reductions. Promptly following each date on which the Required Amount is reduced as a result of a reduction in the Pool Balance of the Class B Certificates or otherwise, the Commitment shall automatically be reduced to an amount equal to such reduced Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction of the Commitment (substantially in the form of Annex IV hereto) to the Liquidity Provider within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic reduction of the Commitment.
Automatic Reductions. Promptly following each date on which the Required Amount is reduced as a result of a reduction in the Pool Balance of the Class G-2 Certificates (including by reason of a Policy Provider Election with respect to one or more Series G-2 Equipment Notes), or otherwise, the Maximum Commitment shall automatically be reduced to an amount equal to such reduced Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction of the Maximum Commitment to the Primary Liquidity Provider within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic reduction of the Maximum Commitment.
Automatic Reductions. Upon the receipt, prior to the Covance Closing Date, of Net Cash Proceeds of any Prepayment Event, the Aggregate Commitment shall automatically be reduced in an aggregate amount equal to 100% of the Net Cash Proceeds of such Prepayment Event; provided, that if the Borrower shall advise the Administrative Agent that the Covance Closing Date is to occur on or within two (2) Business Days after the date on which such Net Cash Proceeds are received, and that it is impractical on short notice to include such Net Cash Proceeds in the payment of the Acquisition Cash Consideration, then the effectiveness of such reduction shall be deferred for two (2) Business Days and, if the Covance Closing Date shall occur during the period of such deferral, such Net Cash Proceeds shall be applied within five Business Days after their receipt to prepay the Loans as provided in Section 2.05(b). The Borrower shall, to the extent practical, notify the Administrative Agent of the occurrence of any Prepayment Event at least three (3) Business Days prior to the consummation of such Prepayment Event and such notice shall be accompanied by a reasonably detailed calculation of the anticipated Net Cash Proceeds thereof, but in any event such notice shall be delivered no later than one (1) Business Day prior to the consummation of such Prepayment Event. Promptly following receipt of such notice, the Administrative Agent shall advise the Lenders of the occurrence of the Prepayment Event and the anticipated reduction in the Aggregate Commitment.
Automatic Reductions. Promptly following each date on which the Required Amount is reduced as a result of a reduction in the Pool Balance of the Class C Certificates or otherwise, the Commitment shall automatically be reduced to an amount equal to such reduced Required Amount (as calculated by the Borrower). The Borrower shall give notice of any such automatic reduction of the Commitment (substantially in the form of Annex IV hereto) to the Liquidity Provider within two Business Days thereof. The failure by the Borrower to furnish any such notice shall not affect such automatic reduction of the Commitment.
Automatic Reductions. Unless previously terminated, the Commitments shall automatically and irrevocably terminate upon the expiration of the Availability Period.
Automatic Reductions. The "Maximum Commitment Amount" at any time of determination shall be equal to the lesser of (i) the Borrowing Base minus all amounts outstanding under the 1998 Senior Notes or (ii) the sum of the several Commitments of the Banks as shown on Schedule 1 hereto, such sum not to exceed $60,000,000, subject to ss.2.1.1 and ss.3.3 below (the "Scheduled Commitment Amount"). If, at any time, the amount in (i) above is less than the amount Outstanding hereunder, Borrower shall make mandatory payments to the Agent in such amount as necessary to reduce the amount outstanding to the Maximum Commitment Amount.
Automatic Reductions. 29 ss.3.2
Automatic Reductions. At the time of any prepayment of Loans pursuant to Section 1.4, the Commitment shall be reduced by the amount of the prepayment.
Automatic Reductions. If, on any day, a Mandatory Reduction Event is pending or contemplated to occur, then the aggregate Commitments shall, upon such Mandatory Reduction Event occurring, be permanently and automatically reduced or terminated (as applicable), in an amount equal to the Mandatory Reduction Amount; provided that, if giving effect to any mandatory reduction of the Commitments pursuant to this Section 3.06
