Reduction Amounts Clause Samples
The 'Reduction Amounts' clause defines the specific circumstances and methods by which certain amounts owed or obligations under an agreement may be decreased. Typically, this clause outlines the triggers for reductions, such as partial performance, set-offs, or the occurrence of specified events, and details the calculation or application of the reduced amounts. Its core practical function is to provide a clear mechanism for adjusting financial or contractual obligations, thereby ensuring fairness and predictability for both parties in situations where the original terms may no longer fully apply.
Reduction Amounts. If at any time the Investment Manager proposes a Proposed Underlying Asset for which at least two Pricing Sources are available and the Requisite Lenders notify the Borrower and the Administrative Agent (including by telephone or email) that:
Reduction Amounts. DELTAP1= the aggregate of the Class C-Y-1 and Class C-Z-1 Principal Reduction Amounts. DELTAP2 = the aggregate of the Class C-Y-2 and Class C-Z-2 Principal Reduction Amounts. Alpha= .0005 Gamma1 = (R - R1)/(7.5% - ▇). ▇▇ ▇>= ▇.▇▇%, ▇▇▇▇a1 is a non-negative number unless its denominator is zero, in which event it is undefined. Gamma2 = (R - 7.0%)/( R2 - R). If R<7.25%, Gamma2 is a non-negative number. If Gamma1 is undefined, DELTAY3 = Y3, DELTAY1 = (Y1/P1)DELTAP1, and DELTA▇▇ = ▇▇. ▇f Gamma2 is zero, DELTAY1 = Y1, DELTAY3 = (Y3/P3)DELTAP3, and DELTAY2 = ▇▇. ▇n the remaining situations, DELTAY3, DELTAY1 and DELTAY2 shall be defined as follows:
Reduction Amounts. (a) The parties hereto agree that, as of the date hereof (the “Effective Date”) (i) there have been no purchases of Receivables pursuant to Section 2.1 of the MARPA, (ii) there are no outstanding TSCP Fees, Waiting Period Compensation, Additional Compensation, Net Incentive Servicing Fees, Net Post-Termination Fees or fees payable to the Administrative Agent pursuant to Section 3.1 of the MARPA due and payable, and (iii) there are no Collections in the Collection Account due to be transferred to any of the Seller Accounts pursuant to Section 4.3 of the MARPA.
(b) The total amount necessary to satisfy in full all obligations and liabilities of all of the Sellers and the Parent under the MARPA as of the Effective Date and to terminate the Commitment in full, as of the Effective Date, is the sum of (i) all accrued and unpaid Commitment Fees pursuant to Section 3.2(a) of the MARPA, which is an amount equal to $92,000, and (ii) any actual, reasonable and documented out-of-pocket costs, fees and expenses (including reasonable attorney’s fees incurred by ▇▇▇▇▇ ▇▇▇▇▇▇▇, LLP) incurred by the Administrative Agent in connection with the preparation of this Termination Agreement, which is an amount equal to $5,000 (such sum of the amounts in (i) and (ii), in an amount equal to $97,000, being the “Seller Termination Amount”).
Reduction Amounts deltaP2=the aggregate of the Class C-Y-2 and Class C-Z-2 Principal Reduction Amounts. alpha = .0005 gamma1 =(R - 6.25%)/(6.375% - R). gamma1 is a non-negative number unless its denominator is zero, in which event it is undefined. If gamma1 is zero, deltaCY1 = CY1 and deltaCY2 = (CY2/P2)deltaP2.