Mandatory Reduction and Reinstatement of Commitment Sample Clauses

Mandatory Reduction and Reinstatement of Commitment. If at any time the Borrower's "Consolidated Fixed Charge Coverage Ratio" (as defined in the Senior Note Indenture) is equal to or less than 2.5:1.0, the Commitment shall be automatically and without further action on the part of the Bank, the Borrower or any other Person, reduced to $20,000,000 minus (but only prior to the termination of the BB&T Agreement and all obligations thereunder) the outstanding amount under the BB&T Agreement. At such time as the Borrower provides a written certification to the Bank that the "Consolidated Cash Flow Coverage Ratio" (as defined in the Senior Note Indenture) exceeds 2.5:1.0, the Commitment shall thereafter be increased to $25,000,000 without any further action on the part of the Bank, the Borrower or any other Person. 251094.7/ 383. 840 15
Sample 1
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Mandatory Reduction and Reinstatement of Commitment. If at any time the Borrower's "Consolidated Fixed Charge Coverage Ratio" (as defined in the Senior Note Indenture) is equal to or less than 2.5:1.0, the Commitment shall be automatically and without further action on the part of the Bank, the Borrower or any other Person, reduced to $20,000,000. At such time as the Borrower provides a written certification to the Bank that the "Consolidated Cash Flow Coverage Ratio" (as defined in the Senior Note Indenture) exceeds 2.5:1.0, the Commitment shall thereafter be increased to $30,000,000 without any further action on the part of the Bank, the Borrower or any other Person.
Sample 1

Related to Mandatory Reduction and Reinstatement of Commitment

  • Termination and Reduction of Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Mandatory Reduction of Commitments (a) The Total Commitment (and the Revolving Loan Commitment of each Lender) shall terminate in its entirety on April 30, 2006, unless the Initial Borrowing Date has occurred on or prior to such date.

  • Termination and Reduction of Revolving Commitments (a) Unless previously terminated, the Revolving Commitments shall terminate on the Maturity Date.

  • Termination and Reduction of the Commitments (a) Unless previously terminated, the Commitments shall terminate on the Termination Date.

  • Termination, Reduction and Increase of Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Optional Reduction and Termination of Commitments (a) Unless previously terminated, all Revolving Commitments, Swingline Commitments and LC Commitments shall terminate on the Revolving Commitment Termination Date.

  • Prepayment; termination of Commitments A notice under Clause 5.13 shall be irrevocable; the Agent shall promptly notify the Lenders or (as the case may require) the Affected Lender of the Borrowers’ notice of intended prepayment; and:

  • Termination of Commitments Declare the Commitments terminated whereupon the Commitments shall be immediately terminated.

  • Prepayment; termination of Commitment A notice under Clause 24.4 shall be irrevocable; the Agent shall promptly notify the Notifying Lender of the Borrower’s notice of intended prepayment; and:

  • Optional Termination and Reduction of Aggregate Credit Amounts (i) The Borrower may at any time terminate, or from time to time reduce, the Aggregate Maximum Credit Amounts; provided that (A) each reduction of the Aggregate Maximum Credit Amounts shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (B) the Borrower shall not terminate or reduce the Aggregate Maximum Credit Amounts if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(c), the total Revolving Credit Exposures would exceed the total Commitments.

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