Common use of Mandatory Commitment Reductions Clause in Contracts

Mandatory Commitment Reductions. (a) Scheduled Reductions in Facility A Commitment. Commencing March 31, 2000 and at the end of each calendar quarter thereafter, the Facility A Commitment shall be automatically and permanently reduced by an amount equal to the percentage of the Facility A Commitment as in effect on the Agreement Date, as set forth below: Amount of Dates of Facility A Commitment Reductions Each Reduction ----------------------------------------- --------------- March 31, 2000, June 30, 2000, September 30, 2000 and December 31, 2000 2.500% March 31, 2001, June 30, 2001, September 30, 2001 and December 31, 2001 3.750% March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002 5.000% March 31, 2003, June 30, 2003, September 30, 2003 and December 31, 2003 6.250% March 31, 2004, June 30, 2004, September 30, 2004 and December 31, 2004 7.500%

Appears in 2 contracts

Samples: Loan Agreement (Metrocall Inc), Loan Agreement (Metrocall Inc)

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Mandatory Commitment Reductions. (a) Scheduled Reductions in Facility A Commitment. Commencing March 31, 2000 and at the end of each calendar quarter thereafter, the Facility A Commitment shall be automatically and permanently reduced by an amount equal to the percentage of the Facility A Commitment as in effect on the Agreement Date, as set forth below: Amount of Dates of Facility A Commitment Reductions Each Reduction ----------------------------------------- --------------- -------------- March 31, 2000, June 30, 2000, September 30, 2000 and December 31, 2000 2.500% March 31, 2001, June 30, 2001, September 30, 2001 and December 31, 2001 3.750% March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002 5.000% March 31, 2003, June 30, 2003, September 30, 2003 and December 31, 2003 6.250% March 31, 2004, June 30, 2004, September 30, 2004 and December 31, 2004 7.500%

Appears in 2 contracts

Samples: Loan Agreement (Metrocall Inc), Loan Agreement (Metrocall Inc)

Mandatory Commitment Reductions. (a) Scheduled Reductions in Facility A Commitment. Commencing March 31, 2000 and at the end of each calendar quarter thereafter, the Facility A Commitment shall be automatically and permanently reduced by an amount equal to the percentage of the Facility A Commitment as in effect on the Agreement Date, as Date set forth below: Amount of Dates of Facility A Commitment Reductions Reduction Each Reduction ----------------------------------------- --------------- ----------------------------- -------------- March 31, 2000, June 30, 2000, September 30, 2000 and December 31, 2000 2.500% March 31, 2001, June 30, 2001, September 30, 2001 and December 31, 2001 3.750% March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002 5.000% March 31, 2003, June 30, 2003, September 30, 2003 and December 31, 2003 6.250% March 31, 2004, June 30, 2004, September 30, 2004 and December 31, 2004 7.500%

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Metrocall Inc)

Mandatory Commitment Reductions. (a) Scheduled Reductions in Facility A Commitment. Commencing March 31, 2000 2001 and at the end of each calendar quarter thereafter, the Facility A Commitment shall be automatically and permanently reduced by an amount equal to the percentage of the Facility A Commitment as in effect on the Agreement Date, as set forth below: Amount of Dates of Facility A Commitment Reductions Each Reduction ----------------------------------------- --------------- March 31, 2000, June 30, 2000, September 30, 2000 and December 31, 2000 2.500% -------------- March 31, 2001, June 30, 2001, September 30, 2001 and December 31, 2001 3.7506.250% March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002 5.0006.250% March 31, 2003, June 30, 2003, September 30, 2003 and December 31, 2003 6.250% March 31, 2004, June 30, 2004, September 30, 2004 and December 31, 2004 7.5006.250%

Appears in 1 contract

Samples: Loan Agreement (Metrocall Inc)

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Mandatory Commitment Reductions. (a) Scheduled Reductions in Facility A under the Revolving Loan Commitment. Commencing on March 31, 2000 2004 and at the end of each calendar fiscal quarter thereafter, the Facility A Revolving Loan Commitment as of March 30, 2004 shall be automatically and permanently reduced by an amount equal to the percentage of amount set forth below for and on the Facility A dates indicated (which reductions are in addition to those set forth elsewhere in this Agreement): Percentage Reduction to Revolving Loan Commitment as in effect on the Agreement Dateof Reduction Dates September 29, as set forth below: Amount of Dates of Facility A Commitment Reductions Each Reduction ----------------------------------------- 2004 --------------- March 31, 2000, June 30, 2000, September 30, 2000 and December 31, 2000 2.500% March 31, 2001, June 30, 2001, September 30, 2001 and December 31, 2001 3.750% March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002 5.000% March 31, 2003, June 30, 2003, September 30, 2003 and December 31, 2003 6.250% ------------------ March 31, 2004, June 30, 2004, September 30, 2004 and December 31, 2004 7.5002.500% March 31, 2005, June 30, 2005, September 30, 2005 and December 31, 2005 2.500% March 31, 2006, June 30, 2006, September 30, 2006 and December 31, 2006 5.000% March 31, 2007, June 30, 2007, September 30, 2007 and December 31, 2007 5.000% March 31, 2008, June 30, 2008, September 30, 2008 and December 31, 2008 10.000%

Appears in 1 contract

Samples: Loan Agreement (Gray Communications Systems Inc /Ga/)

Mandatory Commitment Reductions. (a) Scheduled Reductions in Facility A CommitmentReductions. Commencing March 31, 2000 2000, and at the end -------------------- of each calendar quarter thereafter, the Facility A Commitment (based upon the Commitment as of January 1, 2000) shall be automatically and permanently reduced by an amount equal to the percentage of the Facility A Commitment as in effect on the Agreement Date, as set forth below: Amount below (which reductions are in addition to those set forth in Section 2.5(b) and Section 2.6 hereof): Xxxxxxxxx Xxxxxxxxxx of Reduction of Commitment Dates of Facility A Commitment Reductions Each Reduction ----------------------------------------- --------------- as of January 1, 2000 ----------------------------- ---------------------- March 31, 2000, June 30, 2000, September 30, 2000 and December 31, 2000 2.5000.78125% March 31, 2001, June 30, 2001, September 30, 2001 and December 31, 2001 3.7502.18750% March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002 5.0003.43750% March 31, 2003, June 30, 2003, September 30, 2003 and December 31, 2003 6.2504.37500% March 31, 2004, June 30, 2004, September 30, 2004 and December 31, 2004 7.5005.62500% March 31, 2005, June 30, 2005, September 30, 2005 and December 31, 2005 6.25000% March 31, 2006 9.37500%

Appears in 1 contract

Samples: Loan Agreement (Teleport Communications Group Inc)

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