Common use of Mandatory Clause in Contracts

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 69 contracts

Samples: Credit Agreement (Steel Dynamics Inc), Credit Agreement (Alliance Resource Partners Lp), Credit Agreement

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Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 6 contracts

Samples: Credit Agreement (Kansas City Southern), Credit Agreement (Kansas City Southern), Intellectual Property Security Agreement (TLC Vision Corp)

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility pursuant to clause (a) above by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 3 contracts

Samples: Credit Agreement (Ntelos Holdings Corp), Credit Agreement (Ntelos Holdings Corp), Credit Agreement (Ntelos Holdings Corp)

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if Alliance Resource Fourth Amended and Restated Credit Agreement any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 3 contracts

Samples: Security Agreement (Alliance Holdings GP, L.P.), Security Agreement (Alliance Resource Partners Lp), Security Agreement

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each permanent reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such permanent reduction of the Revolving Credit Facility.

Appears in 2 contracts

Samples: Intercreditor Agreement (Express Parent LLC), Loan Credit Agreement (Express Parent LLC)

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount 43 of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Hersha Hospitality Trust)

Mandatory. (i) The Each Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the applicable Revolving Credit Facility by the amount, if any, by which the amount of the such Letter of Credit Facility exceeds the applicable Revolving Credit Facility after giving effect to such reduction of the such Revolving Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Eastman Kodak Co)

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility Commitments by the amount, if any, by which the amount of the Letter of Credit Facility Commitment exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (York International Corp /De/)

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit A Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit A Facility after giving effect to such reduction of the Revolving Credit A Facility.

Appears in 1 contract

Samples: Credit Agreement (Metrologic Instruments Inc)

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the U.S. Dollar Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the U.S. Dollar Revolving Credit Facility after giving effect to such reduction of the U.S. Dollar Revolving Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Digital Realty Trust, Inc.)

Mandatory. (iiii) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Summit Hotel OP, LP)

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Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.. ​

Appears in 1 contract

Samples: Credit Agreement (Alliance Resource Partners Lp)

Mandatory. (i) The Letter of Credit Facility shall be --------- permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Channell Commercial Corp)

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Public Service Co of New Mexico)

Mandatory. (i) The Letter of Credit Facility shall be automatically and permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit each such Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (International Rectifier Corp /De/)

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility. (ii) [Intentionally Omitted]. (iii) The Term Loan Facility shall be permanently reduced from time to time by the amount of each payment or prepayment of principal made in respect of such Facility.

Appears in 1 contract

Samples: Credit Agreement (Summit Hotel Properties, Inc.)

Mandatory. (i) The Revolving Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Revolving Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (US Power Generating CO)

Mandatory. (i) The Letter of Credit Facility shall be permanently reduced from time to time on the date of each reduction in the Revolving Credit Facility by the amount, if any, by which the amount of the Letter of Credit Facility exceeds the Revolving Credit Facility after giving effect to such reduction of the Revolving Credit Facility.

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Adams Respiratory Therapeutics, Inc.)

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