Guarantee Reduction Sample Clauses

Guarantee Reduction. In connection with any permanent reduction of the Commitments under the Bridge Agreement, the O&M Credit Facility or any separate Credit Agreement (subject in the case of the Permanent Bank Facility to Section 1(f) of the MOU), each of Iridium and Operating will use its best efforts to cause the Lenders thereunder to amend the Bridge Agreement Guarantee, O&M Guarantee or other relevant Guarantee, as the case may be, to provide for a similar reduction in Motorola's maximum liability thereunder; and neither Iridium nor Operating will voluntarily cause a permanent reduction in the Commitments under the Bridge Agreement, the O&M Credit Facility or any separate Credit Agreement (subject in the case of the Permanent Bank Facility to Section 1(f) of the MOU), unless a similar reduction in Motorola's maximum liability thereunder is effected no later than the time such permanent reduction is effected.

Guarantee Reduction. In the event a holiday falls during the hourly paid employee's scheduled workweek, Monday through Sunday, the forty (40) hour guaranteed workweek for hourly paid employees shall be reduced to thirty-two (32) hours or four (4) days. In the event any of the holidays enumerated in Section 13.1 shall occur outside the employee's scheduled workweek, such holiday pay shall not be included in the accumulated hours of work for that period.