Mandatory Reduction of Commitment. In addition to the scheduled repayments and Commitment reductions provided for in Section 2.7 hereof, the Commitment shall be reduced and the Borrower shall, if required pursuant to Section 2.8(c) hereof, prepay the Loans, without penalty or premium, as follows:
Mandatory Reduction of Commitment. Simultaneously with any receipt by the Borrower or any of its Subsidiaries of any Proceeds, if an Event of Default has occurred and is continuing, the Total Commitment shall be reduced by the amount of such Proceeds.
Mandatory Reduction of Commitment. Upon the receipt by the Company of Net Cash Proceeds from or in anticipation of a Designated Transaction (other than a lease or sale and leaseback of computer equipment) at a time at which no Notes are outstanding, the Commitment Amount shall be reduced by the amount of such Net Cash Proceeds. Upon the receipt by the Company of any such Net Cash Proceeds at a time at which Notes are outstanding, the Commitment Amount shall be reduced by the excess, if any, of the amount of such Net Cash Proceeds over the aggregate principal amount of all Notes then outstanding. Notwithstanding the foregoing, the Commitment Amount shall be so reduced only to the extent that Net Cash Proceeds from all Designated Transactions on and after the date hereof exceed $1,000,000.
Mandatory Reduction of Commitment. (a) The Total Revolving Loan Commitment shall terminate in its entirety upon the earlier of (i) the Revolving Loan Maturity Date and (ii) unless the Required Lenders otherwise agree in writing, the date on which a Change of Control occurs.
Mandatory Reduction of Commitment. The Commitment shall automatically be reduced on the dates and in the amounts (a) as set forth on the Applicable Amortization Schedule, (b) as provided in the second sentence of Section 3.6(b), and (c) upon any sale, transfer, exchange or other disposition of any Eligible Property or any interest (other than leases of or easements on any such Eligible Property not prohibited hereby) therein, or upon any Eligible Property ceasing to be an Eligible Property pursuant to Sections 6.11(b)(i)(B) or 6.11(e), in an amount equal to 65% of the Appraised Value of such Eligible Property, provided that, if in connection with such sale, transfer, exchange or other disposition of an Eligible Property the Borrowers substitute a new Eligible Property pursuant to Section 2.6, such amount of reduction of the Commitment shall be limited to 65% of the excess, if any, of the Appraised Value of the Eligible Property so being disposed of over the Appraised Value of the new Eligible Property being substituted therefor; and in each such case the Borrowers shall prepay the Loans and all other amounts owing under the Loan Documents as provided in Section 3.6(a).”
Mandatory Reduction of Commitment. Upon (i) any redemption, prepayment or other payment pursuant to the Indenture of all or any portion of the principal amount of the Bonds (other than Purchased Bonds) so that such Bonds cease to be Outstanding or (ii) any conversion of all or a portion of the Bonds to a Non-Covered Interest Rate in accordance with Section 14.05 of the Indenture, the aggregate Available Principal Commitment shall automatically be reduced by the principal amount of such Bonds so redeemed, paid or converted, as the case may be, and the Available Interest Commitment shall also be simultaneously reduced as provided in the definition thereof in Section 1.01. The Trustee shall notify the Bank within one (1) Business Day of such redemption, payment or conversion of the Bonds.
Mandatory Reduction of Commitment. Upon (a) any redemption, prepayment or other payment pursuant to the 1991 Master Resolution of all or any portion of the principal amount of the Bonds (other than Liquidity Provider Bonds) such that such Bonds cease to be Outstanding, or (b) any conversion of all or a portion of the Bonds to a Non Covered Interest Rate pursuant to Section 30-65.10 of the 1991 Master Resolution, the aggregate Available Principal Commitment shall automatically be reduced by the principal amount of such Bonds so redeemed, paid, deemed paid or converted, as the case may be, and the Available Interest Commitment shall also be simultaneously reduced as provided in the definition thereof in Section 1.01 hereof. The Issuer shall notify the Bank within one (1) Business Day of such redemption, repayment or other payment or conversion of the Bonds.
Mandatory Reduction of Commitment. Upon (a) any redemption, prepayment or other payment pursuant to the Indenture of all or any portion of the principal amount of the Bonds (other than Purchased Bonds) such that such Bonds cease to be Outstanding or (b) any conversion of all or a portion of the Bonds to a Non-Covered Interest Rate, the aggregate Available Principal Commitment shall automatically be reduced by the principal amount of such Bonds so redeemed, paid, deemed paid or converted, as the case may be, and the Available Interest Commitment shall also be simultaneously reduced as provided in the definition thereof in Section 1.01 hereof. The Issuer shall notify Dexia within one (1) Business Day of such redemption, repayment or other payment or conversion of the Bonds. The Available Commitment shall automatically terminate when an Alternate Liquidity Facility has become effective pursuant to the Indenture, provided that this Agreement shall not terminate until Dexia has purchased any Bonds required to be purchased pursuant to any mandatory tender resulting from the provision of any Alternate Liquidity Facility.
Mandatory Reduction of Commitment. If at any time prior to the Termination Date the aggregate principal amount of the Loans outstanding hereunder exceeds the Total Commitment, as the same may be reduced or terminated pursuant to Section 2.4(a), whether as a result of any such reduction or termination or otherwise, the Borrower shall immediately repay or cause to be repaid to the Administrative Agent for the accounts of the Banks the full amount of such excess. Each repayment hereunder shall be allocated among all of the Banks, in proportion, as nearly as practicable, to the respective unpaid principal amount of the Syndicated Loans owing to each Bank, with adjustments to the extent practicable to equalize prior payments not exactly in proportion. If, after repayment in full of all outstanding Syndicated Loans, the aggregate principal amount of Competitive Bid Loans exceeds the Total Commitment, as so reduced or terminated, then the remaining required repayment shall be allocated among all Banks owed Competitive Bid Loans in proportion, as nearly as practicable, to the respective unpaid principal amounts of the Competitive Bid Loans owing to each such Bank. The Borrower shall also be obligated to pay the full amount, if any, of the indemnity required by Section 2.13 if repayments under this Section 2.4(b) require the repayment of a Fixed Rate Loan prior to the end of the Interest Period relating to such Fixed Rate Loan.
