Mandatory Reduction of Commitments Sample Clauses
Mandatory Reduction of Commitments. (a) The Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on November 30, 1999 unless the Effective Date has occurred on or before such date.
(b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03, on each date on or after the Effective Date on which the Borrower receives any cash proceeds from any sale of any Shares (other than cash proceeds from such sales of Shares (other than the Superior Option Shares) up to an aggregate amount which, when added to the aggregate amount of cash proceeds received by the Borrower from the incurrence by it of Indebtedness (other than Loans) which is not (or was not) required to be applied to reduce the Total Commitment pursuant to Section 3.03(c), equals $10,000,000), the Total Commitment shall be permanently reduced on such date by an amount equal to 100% of the Net Sale Proceeds from such sale.
(c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03, on each date on or after the Effective Date on which the Borrower receives any cash proceeds from any incurrence of Indebtedness for borrowed money (other than Indebtedness for borrowed money permitted to be incurred pursuant to Section 9.04 as such Section is in effect on the Effective Date) by the Borrower, the Total Commitment shall be permanently reduced on such date by an amount equal to 100% of the Net Debt Proceeds of the respective incurrence of Indebtedness.
(d) In addition to any other mandatory commitment reductions pursuant to this Section 3.03, on each date on or after the Effective Date on which the Borrower receives any cash proceeds from any equity issuance or capital contributions (other than cash proceeds received (i) from the issuance by the Borrower of (A) options to purchase shares of its common stock or (B) shares of its common stock as a result of the exercise of any options with regard thereto, in either case to past or present officers, directors, employees and consultants of the Borrower in connection with, or pursuant to, employee stock option plans or similar incentive plans so long as the aggregate amount excluded pursuant to this clause (i) does not exceed $20,000,000 and (ii) from the exercise of any warrants to purchase common stock of the Borrower existing on the Effective Date), the Total Commitment shall be permanently reduced on such date by an amount equal to 50% of the cash proceeds of such capital contribution or sale or issuance (...
Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.02, the Total Initial Term Loan Commitment shall terminate in its entirety on the Closing Date after the funding of all Initial Term Loans on such date.
(b) In addition to any other mandatory commitment reductions pursuant to this Section 4.02, the Total Incremental Term Loan Commitment pursuant to an Incremental Term Loan Amendment (and the Incremental Term Loan Commitment of each Lender with such a Commitment) shall terminate in its entirety on the Incremental Term Loan Borrowing Date for such Total Incremental Term Loan Commitment after the funding of all relevant Incremental Term Loans on such date.
(c) Each reduction to the Total Initial Term Loan Commitment and the Total Incremental Term Loan Commitment under a given Tranche pursuant to this Section 4.02 as provided above (or pursuant to Section 5.02) shall be applied proportionately to reduce the Initial Term Loan Commitment or the Incremental Term Loan Commitment under such Tranche, as the case may be, of each Lender with such a Commitment.
Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.05 or any other Section of this Agreement, the Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination Date.
(b) In addition to any other mandatory commitment reductions pursuant to this Section 3.05 or any other Section of this Agreement, the Total Commitments (and the Commitments of each Lender) shall be reduced (immediately after the relevant Loans are made) on each Borrowing Date by the amount of Commitments (denominated in Euro) utilized to make the Loans made on such Borrowing Date.
(c) In addition to any other mandatory commitment reductions pursuant to this Section 3.05 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02.
(d) Each reduction to the Total Commitment pursuant to this Section 3.05 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender.
Mandatory Reduction of Commitments. The Total Revolving Loan Commitment (and the Revolving Loan Commitment of each Lender) shall terminate in its entirety upon the Final Maturity Date.
Mandatory Reduction of Commitments. The Commitment shall be permanently reduced by the amount of each Loan made on the Restatement Date.
Mandatory Reduction of Commitments. The Initial Term Loan Commitment of each Lender shall terminate permanently in its entirety on the Closing Date (after giving effect to the incurrence of the Initial Term Loans on such date).
Mandatory Reduction of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total Commitment (and the Commitment of each Lender under each Tranche) shall terminate in its entirety on the Maturity Date.
(b) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total Initial Commitment shall be reduced by (x) $80,000,000 on December 31, 2014 and (y) $80,000,000 on December 31, 2015, which Scheduled Commitment Reductions (i) shall be applied proportionately to reduce or terminate, as the case may be, the Initial Commitment of each Lender under such Tranche and (ii) shall be reduced in accordance with Section 4.03(g).
(c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total Incremental Commitment under each Tranche of Incremental Commitments (if any) shall be reduced on a pro rata basis by an aggregate amount of (x) $20,000,000 for all such Tranches of the Incremental Facility on December 31, 2014 and (y) $20,000,000 for all such Tranches of the Incremental Facility on December 31, 2015, which Scheduled Commitment Reductions (i) shall be applied proportionately to reduce or terminate, as the case may be, the Incremental Commitment of each Lender under each such Tranche and (ii) shall be reduced in accordance with Section 4.03(g).
(d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, on the date of any Collateral Disposition, the Total Commitment shall be permanently reduced by a percentage thereof, expressed as a fraction, equal to (x) the appraised value (as determined in accordance with the most recent appraisal report delivered to the Administrative Agent (or obtained by the Administrative Agent) pursuant to Section 9.01(c)) of the Collateral Rig or Collateral Rigs which is/are the subject of such Collateral Disposition divided by (y) the Aggregate Collateral Rig Value (as determined by the sum of the appraisals set forth in the most recent appraisal report related to each respective Collateral Rig and delivered to the Administrative Agent (or obtained by the Administrative Agent) pursuant to Section 9.01(c) before giving effect to such Collateral Disposition).
(e) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, upon the occurrence of a violation under Section 10.09, the Total Commitment may be permanently reduced in accordance with the requirements of Sections 4.03(g) and 10.09 ...
Mandatory Reduction of Commitments. (a) The Total Commitment shall terminate in its entirety on September 30, 1998 unless the Effective Date has occurred on or before such date.
(b) The Total Commitment shall terminate in its entirety on the Final Maturity Date.
Mandatory Reduction of Commitments. The Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Maturity Date.
Mandatory Reduction of Commitments. (a) [Reserved].
(b) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total A Term Loan Commitment (and the A Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of A Term Loans on such date).
(c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total B Term Loan Commitment (and the B Term Loan Commitment of each Lender) shall terminate in its entirety on the Initial Borrowing Date (after giving effect to the incurrence of B Term Loans on such date).
(d) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total 2016 Revolving Loan Commitment shall terminate in its entirety upon the 2016 Revolving Loan Maturity Date and the Total 2017 Revolving Loan Commitment shall terminate in its entirety upon the 2017 Revolving Loan Maturity Date.
(e) Each reduction to, or termination of, the Total 2016 Revolving Loan Commitment or the Total 2017 Revolving Loan Commitment pursuant to this Section 4.03 shall be applied to proportionately reduce or terminate, as the case may be, the 2016 Revolving Loan Commitment of each Lender with a 2016 Revolving Loan Commitment or the 2017 Revolving Loan Commitment of each Lender with a 2017 Revolving Loan Commitment, as the case may be.