Mandatory Reduction or Termination of Commitments. (a) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, (i) the remaining unfunded portion of Total US A Term Loan Commitment (and the US A Term Loan Commitment of each Lender) with respect to the Delayed Draw Term Loan shall terminate in its entirety on the Delayed Draw Funding Deadline and (ii) the Total Canadian A Term Loan Commitment (and the Canadian A Term Loan Commitment of each Lender) shall terminate in their entirety on the Effective Date (after the incurrence of the respective Tranches of Term Loans on such date).
(b) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total Incremental Term Loan Commitment under a given Tranche shall (i) be permanently reduced on each Incremental Term Loan Borrowing Date in respect of such Tranche in an amount equal to the aggregate principal amount of Incremental Term Loans of such Tranche incurred on each such date, (ii) terminate in its entirety (to the extent not theretofore terminated) on the Incremental Commitment Termination Date for such Tranche of Incremental Term Loans (after giving effect to any Incremental Term Loans of such Tranche to be made on such date) and (iii) prior to the termination of the Total Incremental Term Loan Commitment in respect of such Tranche, be permanently reduced from time to time to the extent required by Section 5.02(j).
(c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, (i)(A) the Total Revolving Loan Commitment (other than Extended Revolving Loan Commitments) shall terminate in its entirety on the Initial Revolving Loan Maturity Date and (B) the Total Revolving Loan Commitment remaining in effect after the Initial Revolving Loan Maturity Date shall terminate in its entirety upon the Revolving Maturity Date applicable to any Extended Revolving Loan Commitments and (ii)(A) the Total Canadian Revolving Loan Commitment (and the Canadian Revolving Loan Commitment of each Canadian Revolving Lender) (other than Extended Canadian Revolving Loan Commitments) shall terminate in its entirety on the Initial Revolving Loan Maturity Date and (B) the Total Canadian Revolving Loan Commitment remaining in effect after the Initial Revolving Loan Maturity Date shall terminate in its entirety upon the Revolving Loan Maturity Date applicable to any Extended Canadian Revolving Loan Commitments.
(d) In addition to any other mandatory commitment reductions pursuant to this Section...
Mandatory Reduction or Termination of Commitments. (i) The Total Commitment shall be automatically and permanently reduced by an amount equal to the maximum amount that would be required to be applied as a mandatory prepayment of the Swing Line Loans and the Revolving Loans pursuant to Section 2.06(c)(iii) if the Effective Amount of such Loans was then equal to the amount of such Commitment (but without regard to the actual usage of such Commitment), such reduction to be effective on the date of the required prepayment.
(ii) The Total Commitment shall be automatically and permanently reduced to zero on the Maturity Date.
(iii) If, at any time, the Borrower is required to make any mandatory prepayment of the Loans pursuant to Sections 2.06(c)(iii), then the Total Commitment shall be automatically and permanently reduced by the amount of such mandatory prepayment of the Loans.
Mandatory Reduction or Termination of Commitments. (a) The Initial Term Loan Commitments shall terminate on the Closing Date, contemporaneously with the Borrowing of the Initial Term Loans. The 2024 Refinancing Term Loan Commitments shall terminate on the First Amendment Effective Date, contemporaneously with the Borrowing of the 2024 Refinancing Term Loans.
(b) The Revolving Credit Commitments shall terminate at 12:00 Noon on the Revolving Credit Maturity Date.
(c) The Swingline Commitment shall terminate at 12:00 Noon on the Swingline Maturity Date.
Mandatory Reduction or Termination of Commitments. (a) If at any time the Total Loan Commitment exceeds the Maximum Principal Amount, the Total Loan Commitment shall be immediately and automatically reduced to equal the Maximum Principal Amount.
(b) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, the Total Loan Commitment shall terminate in its entirety on Termination Date.
(c) In addition to any other mandatory commitment reductions pursuant to this Section 4.03, on each date on or after the Effective Date upon which Holdings or any of its Subsidiaries receives any cash proceeds from any issuance or incurrence by Holdings or any of its Subsidiaries of Indebtedness for borrowed money (other than Indebtedness for borrowed money permitted to be incurred pursuant to Section 10.04 as in effect on the Effective Date), the Total Loan Commitment shall be permanently reduced by an amount equal to 100% of the Net Cash Proceeds of the respective incurrence of Indebtedness.
(d) If a Regulatory Trigger Event occurs, the Commitments shall be automatically terminated, and the Borrower shall promptly (and in any event within three (3) Business Days) pay to the Administrative Agent the product of (i) one-half (1/2) and (ii) the Commitment Termination Fee; provided, that, the amounts payable by the Borrower to the Administrative Agent pursuant to this Section 4.03(d) shall not exceed, in the aggregate (together with amounts payable to the SPV Loan Agreement Agent pursuant to Section 2.8(b) of the SPV Loan Agreement) seven million dollars ($7,000,000).
(e) Each reduction to, or termination of, the Total Loan Commitment pursuant to this Section 4.03 shall be applied to proportionately reduce or terminate, as the case may be, the Loan Commitment of each Lender.
Mandatory Reduction or Termination of Commitments. (a) Unless previously terminated, the Commitments shall terminate on the Termination Date and, unless the Borrower exercises the Term Loan Conversion Option with regard to all or a portion of the Committed Loans outstanding as of the Termination Date, any Loans then outstanding and not converted (together with accrued interest thereon) shall be due and payable on such date.
(b) In the event and on the occasion that the Company receives any Net Cash Proceeds in respect of any Reduction Event that has occurred after the Closing Date, (i) the Company shall promptly after (and in any event within five Business Days of) such receipt provide to the Administrative Agent written notice thereof, setting forth the nature of such Reduction Event and the amount of such Net Cash Proceeds and (ii) the Company shall, no later than 30 days following such receipt, reduce the Commitments by an aggregate amount equal to the lesser of the aggregate amount of the Commitments then in effect and the amount of such Net Cash Proceeds, by providing written notice to the Administrative Agent of such reduction; provided that in the case of any Reduction Event described in clause (c) of the definition of such term, if the Company shall, in such notice to the Administrative Agent, state that the Company intends to cause such Net Cash Proceeds from such Reduction Event (or a portion thereof specified in such notice) to be applied within 270 days after receipt of such Net Cash Proceeds to acquire assets to be used in the business of the Company or its Subsidiaries, or to consummate any business acquisition by the Company or any of its Subsidiaries, then the amount of the reduction of the Commitments under this paragraph on account of such Reduction Event shall be reduced (including to zero) by the amount of the Net Cash Proceeds specified by the Company in such notice as intended to be reinvested; provided further that if any such Net Cash Proceeds have not been so applied by the end of such 270-day period, then no later than the last day of such 270-day period the Company shall provide to the Administrative Agent written notice thereof and on the first Business Day following the end of such 270-day period the Commitments will automatically reduce by an aggregate amount equal to the lesser of the aggregate amount of the Commitments then in effect and the amount of such Net Cash Proceeds that have not been so applied.
Mandatory Reduction or Termination of Commitments. Effective as of the date hereof, the following is added to the end of Section 2.11(b) of the Agreement, to read as follows: In addition, on the date the Borrower or any Subsidiary receives funds from mortgages on Real Property, the Commitments shall automatically be reduced by the amount of such funds received, which amount shall not be less than 75% of the appraisal value of such Real Property as determined by the appraisal described in Section 8.13(f) and the Borrower shall simultaneously prepay the amount by which the unpaid principal amount of the Advances plus the Letter of Credit Liabilities exceeds the Commitments (after giving effect to such reduction) plus accrued and unpaid interest on the principal amount so prepaid.
Mandatory Reduction or Termination of Commitments. (i) On each date upon which a mandatory prepayment of the Term Loans pursuant to clause (iii), (iv), (v) or (vi) of Section 2.07(c) is required which exceeds in amount the Effective Amount of the Term Loans outstanding at such time (or would be required if any Term Loans were then outstanding), then the Total Revolving Loan Commitment shall be permanently reduced by the amount, if any, by which the amount required to be applied pursuant to said clauses (determined as if an unlimited amount of Term Loans were actually outstanding) exceeds the aggregate principal amount of the Term Loans then outstanding (whether or not any Revolving Loans, Swing Line Loans or L/C Obligations shall then be outstanding).
(ii) The Total Revolving Loan Commitment shall be automatically reduced to zero on the Revolving Loan Maturity Date.
(iii) The Total Term Loan Commitment shall be automatically reduced to zero at the close of business on the Restatement Effective Date.
Mandatory Reduction or Termination of Commitments. (a) The Total Commitment shall automatically and irrevocably terminate at 5:00 p.m. (New York City time) on the Termination Date.
(b) Upon the incurrence or issuance by the Borrower or any Subsidiary of any Indebtedness pursuant to Section 10.1(l), the Total Commitments shall be automatically and irrevocably reduced on a dollar-for-dollar basis in an amount equal to the lesser of (i) the maximum aggregate principal amount of such Indebtedness (including any unfunded Commitments therefor) and (ii) the Total Commitments minus the aggregate amount of all then outstanding Loans.
Mandatory Reduction or Termination of Commitments. (a) Promptly upon receipt by the Borrower or any Subsidiary of any Net Cash Proceeds from any sale of, or any Net Securities Proceeds from any financing secured by, any Designated Asset, the Commitments shall be reduced by an amount (rounded down, if necessary, to an integral multiple of $1,000,000) equal to (i) the aggregate amount of all Net Cash Proceeds and all Net Securities Proceeds from all sales of, and financings secured by, Designated Assets after March 1, 1998 minus (ii) the aggregate amount of all such Net Cash Proceeds and Net Securities Proceeds previously applied to reduce the Commitments pursuant to this sentence; provided that the amount of the reduction of the Commitments required pursuant to this clause (a) in respect of (x) the Designated Media Play Stores shall not exceed $11,000,000 and (y) the Franklin Distribution Center shall not exceed $22,000,000.
(b) On the date on which the Term Loan Extension occurs, the Commitments shall be reduced by $50,000,000.
(c) If the Net Securities Proceeds of the 1998 Senior Subordinated Notes exceed $264,000,000, then on the date of the issuance of the 1998 Senior Subordinated Notes the Commitments shall be reduced in an amount equal to such excess (rounded upward, if necessary, to an integral multiple of $1,000,000).
(d) If the Borrower receives Excess Securities Proceeds from the issuance of the 1998 Senior Subordinated Notes, then on March 31, 1999 the Commitments shall be reduced by an amount (rounded upward, if necessary, to an integral multiple of $1,000,000) equal to the positive remainder, if any, of (i) the amount of such Excess Securities Proceeds minus (ii) the aggregate amount of all prepayments, redemptions, repurchases or retirements of Senior Subordinated Notes which have occurred after the date of the issuance of the 1998 Senior Subordinated Notes.
(e) The Commitments shall terminate on the Termination Date, and any Loans then outstanding (together with accrued interest thereon) shall be due and payable on such date.
Mandatory Reduction or Termination of Commitments. The Total Commitment shall be automatically reduced to zero on the Revolving Loan Maturity Date.
