Mandatory Reduction of Revolving Commitments. On the date that any prepayment that is to be made pursuant to Sections 2.13(c)(iv), (v), (vi) or (vii) is required to be applied to prepay the outstanding principal amount of Revolving Loans, then on such date the Total Revolving Commitment shall be permanently reduced on such date in an amount equal to the amount of such required prepayment and any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage) and permanently reduce the Revolving Commitment of each Lender. If the Total Revolving Commitment is reduced to any amount that is less than the LC Outstandings, the U.S. Borrower shall immediately Cash Collateralize the LC Outstandings to the extent of such excess.
Mandatory Reduction of Revolving Commitments. On the date that any prepayment is to be made pursuant to Sections 5.1(c) (iv), (v), (vi), (vii) or (viii) is required to be applied to prepay the outstanding principal amount of Revolving Loans, then on such date the Total Revolving Commitment shall be permanently reduced on such date in an amount equal to the amount of such required prepayment and any such reduction shall apply to proportionately (based on each Lender’s Revolving Facility Percentage) and permanently reduce the Revolving Commitment of each Lender.
Mandatory Reduction of Revolving Commitments. On any date that the Revolving Obligations are required to be prepaid pursuant to the terms of Section 3.3(b), the Revolving Commitments automatically shall be permanently reduced by the amount of such required prepayment.
3.13 Section 7.17 is hereby amended in its entirety to read as follows:
Mandatory Reduction of Revolving Commitments. Except as otherwise expressly provided in Section 6.2.1 hereof, the Revolving Commitments shall be permanently reduced in an amount equal to the Designated Proceeds of any Mandatory Prepayment Event applied to the Revolving Loans in accordance with Section 6.2.1.
Mandatory Reduction of Revolving Commitments. On each anniversary of the Original Closing Date set forth below, the Total Commitment Amount shall be automatically and permanently reduced to the respective maximum amount set forth opposite such anniversary (unless theretofore reduced under Section 2.5 to a lesser amount): Anniversary of Original Maximum Amount Closing Date Third $675,000,000 Fourth $600,000,000 Fifth $500,000,000 On each such date when a reduction in the Total Commitment Amount becomes effective, the Company shall make a mandatory payment of all Revolving Loans equal to the excess, if any, of the aggregate outstanding principal amount of all Revolving Loans over the Total Commitment Amount as so reduced minus the Effective Amount of all Letter of Credit Obligations minus the Effective Amount of all Swingline Loans minus the Effective Amount of all Alternate Currency Loans plus the lesser of (x) the Effective Amount of all Alternate Currency Loans supported by Alternate Currency Standby Letters of Credit and (y) the Effective Amount of all Letter of Credit Obligations with respect to Alternate Currency Standby Letters of Credit.
Mandatory Reduction of Revolving Commitments. If the Term Loans have been (or as a result of the application of the proceeds from any applicable Mandatory Prepayment Event will be) paid in full, then upon the occurrence of a Mandatory Prepayment Event described in SUBSECTION 2.8(a)(i) or 2.8(a)(ii), the Revolving Commitments shall be reduced by the amount, if any, of any Net Cash Proceeds which would have been required (and are not applied) to prepay the Term Loans pursuant to such subsections if the Term Loans had not been (or were not concurrently) paid in full, with each such reduction effective at the time such prepayment would have been required pursuant to SUBSECTION 2.8(a). Reductions of the Revolving Commitments pursuant to this SUBSECTION 2.6(b) shall not reduce any scheduled reduction of the Revolving Commitments pursuant to SUBSECTION 2.6(a).
Mandatory Reduction of Revolving Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 and Section 4.02, the Total Revolving Commitment (and the Revolving Commitment of each Lender) shall terminate in its entirety on the Maturity Date.
(b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 and Section 4.02, the Total Revolving Commitment shall be permanently reduced at the times, and in the amounts, required by Section 4.02.
(c) Each reduction to, or termination of, the Total Revolving Commitment shall be applied to reduce or terminate, as the case may be, on a pro rata basis the Revolving Commitment of each Lender.
Mandatory Reduction of Revolving Commitments. (a) The Maximum Revolving Facility Amount shall be US$75,000,000 for the period from the Closing Date to the 30 month anniversary of the Closing Date (the "Full Limit Period"). Unless the Full Limit Period is extended pursuant to Section 7.3(b), the Maximum Revolving Facility Amount shall reduce by US$12,500,000 on the last day of the Full Limit Period and on each of the 6th, 12th, 18th, 24th and 30th month anniversary of the last day of the Full Limit Period.
(b) Not less than three months and not more than four months prior to the end of the Full Limit Period or the then current Extended Full Limit Period, ADC may request the Lenders, by notice to the Administrative Agent, to extend such period for one year. The Lenders shall respond to such request not less than 45 days prior to the end of such period (such 45th day being the "Response Deadline"). If no response is received from a Lender within such period, such Lender shall be deemed to have not provided consent thereto. The Administrative Agent shall, by notice to ADC, extend the Full Limit Period or Extended Full Limit Period, as the case may be, by one year if a group of Lenders whose aggregate Revolving Commitments equal or exceed 75% of the total Revolving Commitments has consented thereto. If the requisite percentage of Lenders approves the extension of the Full Limit Period or the then current Extended Full Limit Period, as the case may be, but a Lender does not provide consent thereto, ADC shall, at its option, either:
(i) cancel such Lender's Revolving Commitment by giving not less than ten Business Days' prior irrevocable notice thereof to the Administrative Agent and repaying the Accommodations Outstanding to such Lender under the Credit Facilities on the date specified in that notice together with any breakage costs, Fees, interest and other amounts accrued (whether or not then due and payable) under this Agreement up to such specified date; or
(ii) during the 35 day period following the Response Deadline, find a replacement lender or lenders (provided that such replacement lender or lenders shall be an Eligible Assignee) and notify the non-consenting Lender of same in which case such non-consenting Lender shall enter into an Assignment and Acceptance Agreement, whereby it shall assign its rights and obligations under this Agreement. For greater certainty, if the extension of the Full Limit Period or any Extended Full Limit Period is not approved by Lenders whose aggregate Revolving Commitm...
Mandatory Reduction of Revolving Commitments. The Revolving Committed Amount shall be automatically permanently reduced by the amount of any mandatory prepayment required pursuant to clause (i) or (ii) of this Section 2.6(b).
Mandatory Reduction of Revolving Commitments. On any date that the -------------------------------------------- Revolving Obligations are required to be prepaid pursuant to the terms of Section 3.3(b), the Revolving Commitments automatically shall be permanently reduced by the amount of such required prepayment. In addition, for each fiscal year of the Borrower set forth below the Aggregate Revolving Committed Amount shall not exceed: Fiscal Year 2001 $250,000,000 Fiscal Year 2002 $250,000,000 Fiscal Year 2003 $250,000,000 Fiscal Year 2004 $225,000,000 Fiscal Year 2005 and thereafter $200,000,000
