Clean-Down Periods Sample Clauses

Clean-Down Periods. At least once during each fiscal year of the Borrower, the Borrower shall designate a period of thirty (30) consecutive calendar days as a "Clean- Down Period." During each Clean-Down Period: (a) the aggregate outstanding Revolving Advances shall not exceed the sum of $850,000.00; and
Sample 1
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Clean-Down Periods. During the period commencing November 30 of each year and ending on January 31 of the following year, the Borrowers will designate a period of thirty (30) consecutive calendar days as a "Clean-Down Period." During each Clean-Down Period: (a) the aggregate outstanding Advances shall not exceed the applicable Clean-Down Amount; and (b) the Borrowers shall not request, and the Bank shall not be obligated to make, any new Advances if the making of such Advances would cause the aggregate outstanding Advances to exceed the applicable Clean-Down Amount.
Sample 1
Clean-Down Periods. The Borrower shall repay the Loans and not borrow additional Loans so that the outstanding principal balance of all Loans does not exceed (a) $5,000,000 for at least one Business Day of during Fiscal Year 2002, and (b) $10,000,000 for at least one Business day during each Fiscal Year thereafter.
Sample 1
Clean-Down Periods. Any Applicable Clean-Down Period shall end without a Clean-Down Period occurring during such Applicable Clean-Down Period in accordance with the requirements of Sections 4.02(j) and the definition of Clean-Down Period contained herein; then, and in any such event, and at any time thereafter, if any Event of Default shall then be continuing, the Administrative Agent, upon the written request of the Required Lenders, shall by written notice to the Borrower, take any or all of the following actions, without prejudice to the rights of the Administrative Agent or any Lender to enforce its claims against any Credit Party (provided that, if an Event of Default specified in Section 10.05 shall occur with respect to the Borrower, the result which would occur upon the giving of written notice by the Administrative Agent as specified in clauses (i) and (ii) below shall occur automatically without the giving of any such notice): (i) declare the Total Commitments terminated, whereupon all Commitments of each Lender shall forthwith terminate immediately and any Commitment Commission shall forthwith become due and payable without any other notice of any kind; (ii) declare the principal of and any accrued interest in respect of all Loans and all Obligations owing hereunder to be, whereupon the same shall become, forthwith due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Credit Party; (iii) terminate any Letter of Credit which may be terminated in accordance with its terms; (iv) direct the Borrower to pay (and the Borrower agrees that upon receipt of such notice, or upon the occurrence of an Event of Default specified in Section 10.05 with respect to the Borrower, it will pay) to the Collateral Agent at the Payment Office such additional amount of cash, to be held as security by the Collateral Agent, as is equal to the aggregate Stated Amount of all Letters of Credit issued for the account of the Borrower and then outstanding; (v) enforce, as Collateral Agent, all of the Liens and security interests created pursuant to the Security Documents; and (vi) 74 81 apply any cash collateral held by the Administrative Agent pursuant to Section 4.02 to the repayment of the Obligations.
Sample 1
Clean-Down Periods. The Borrower shall repay the Revolving Loans so that the outstanding principal balance of all Revolving Loans does not exceed $15,000,000 for at least two non-consecutive Business Days during each Fiscal Year.
Sample 1

Related to Clean-Down Periods

  • Meal Periods (a) Meal periods shall be scheduled as close as possible to the middle of the scheduled hours of work. The length of the meal period shall be agreed to at the local level and shall be not less than 30 minutes nor more than 60 minutes. (b) An employee shall be entitled to take their meal period away from the workstation. Where this cannot be done, the meal period shall be considered as time worked.

  • Meal/Rest Periods All nurses shall receive an unpaid meal period of one-half (1/2) hour. Nurses required to remain on duty or in the Hospital during their meal period shall be compensated for such time at the appropriate rate of pay. All nurses shall receive one (1) fifteen

  • Break Periods There will be no rest periods, organized coffee breaks or other non-working time established during working hours. Individual coffee containers will be permitted at the employee’s work location.

  • Commencement of Interest Periods The first Interest Period shall commence on the Drawdown Date and each subsequent Interest Period shall commence on the expiry of the preceding Interest Period.

  • Additional Rest Periods When an employee performs authorized overtime work of at least three (3) hours duration, the Hospital will schedule a rest period of fifteen (15) minutes duration.

  • Waiting Periods All applicable waiting periods, if any, under the HSR Act shall have expired or been terminated.

  • Number of Interest Periods There may be no more than 6 different Interest Periods for LIBOR Loans outstanding at the same time.

  • Lunch and Rest Periods ‌ A. Each employee working more than four (4) hours per day shall be entitled to a minimum of one-half (1/2) hour duty free lunch period without pay. B. Employees shall receive a fifteen (15) minute rest period during each four (4) hours of work not to exceed two (2) such breaks during a regular eight (8) hour day, whenever practicable. C. The parties agree to comply with ODE regulations.

  • Rest Period After Overtime (a) When overtime work is necessary, it will, wherever reasonably practicable, be so arranged that employees have at least 10 consecutive hours off duty between the work of successive days or shifts, including overtime. (b) An employee, other than a casual employee, who works so much overtime between the termination of their ordinary work on one day and the commencement of their ordinary work on the next day, that they have not had at least 10 consecutive hours off duty between those times, will be released after completion of such overtime, until they have had 10 consecutive hours off duty without loss of pay for ordinary working time occurring during such a absence. (c) If, on the instruction of the employer, an employee resumes or continues to work without having had 10 consecutive hours off duty, they will be paid at the rate of double time until released from duty for such period. The employee will then be entitled to be absent until they have had 10 consecutive hours off duty without loss of pay for rostered ordinary hours occurring during the absence.

  • Rest Periods All employees shall have two (2), fifteen (15) minute rest periods in each work period in excess of six (6) hours, one (1) rest period to be granted before and one (1) after the meal period. Employees working a shift of three and one-half (3½) hours, but not more than six (6) hours, shall receive one (1) rest period during such a shift. Rest periods shall not begin until one (1) hour after the commencement of work or not later than one (1) hour before either the meal period or the end of the shift. Rest periods shall be taken without loss of pay to the employees.

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