Facility Limit Adjustments Sample Clauses

Facility Limit Adjustments. Within 45 days of the end of each calendar quarter, the Company may elect to increase or decrease the Facility Limit by no more than the Sterling Equivalent at such time of Five Million Dollars ($5,000,000) (which reduction or increase shall take effect no less than five Business Days from Burdale’s receipt of written notice of the Company’s election) so long as: (a) no Default exists, has occurred and is continuing or would occur; (b) the Borrowers under the Loan Agreement, in accordance with the terms of the Loan Agreement, elect concurrently to: (i) reduce the amount of the Maximum Credit under the Loan Agreement by the United States dollar amount of such increase; or (ii) increase the Maximum Credit under the Loan Agreement by the United States dollar amount of such reduction; and (c) any such reduction or increase does not have the effect of: (i) increasing the amount of the Global Facility (as defined in the Loan Agreement) to an amount in excess of Fifty-Five Million Dollars ($55,000,000); (ii) increasing the Facility Limit to an amount in excess of the Sterling Equivalent of Thirty-Five Million Dollars ($35,000,000); or (iii) decreasing the Facility Limit to an amount that is less than the Sterling Equivalent of Fifteen Million Dollars ($15,000,000); No reduction of the Facility Limit elected pursuant to this Clause 3.3 shall be subject to the fee provided for in Clause 6.5(b).”