PRINCIPAL INSTALLMENTS/REDUCTION IN AVAILABILITY Sample Clauses

PRINCIPAL INSTALLMENTS/REDUCTION IN AVAILABILITY. The Note and documents evidencing the Revolving/Term Loan shall also be revised to reflect that accrued interest shall be due and payable quarterly in arrears. Additionally, beginning on the first business day after January 1, 1998, and on the first business day of each calendar quarter thereafter availability under the Note shall be reduced by $1,650,000. Provided, however, if the Revolving/Term Loan is not fully funded on January 1, 1998 the quarterly principal installments shall be determined by dividing the actual principal balance on such debt by twenty (20).