Reduction From Excess Cash Flow. On April 15, 2000, and on each April 15 thereafter during the term of this Agreement, the Commitment shall be permanently reduced by an amount equal to fifty percent (50%) of Excess Cash Flow for the fiscal year immediately preceding the calculation date. Reductions to the Commitment under this Section shall be applied to the reductions set forth in Section 2.5(a) hereof in inverse order of the reductions set forth therein.
Appears in 2 contracts
Samples: Loan Agreement (American Radio Systems Corp /Ma/), Loan Agreement (American Tower Systems Corp)
Reduction From Excess Cash Flow. On April 15, 20002001, and on each April 15 thereafter during the term of this Agreement, the Existing Commitment shall be permanently reduced by an amount equal to fifty percent (50%) of Excess Cash Flow for the fiscal year immediately preceding the calculation date. Reductions to the Existing Commitment under this Section shall be applied to the reductions set forth in Section 2.5(a) hereof in inverse order of the reductions set forth therein.
Appears in 2 contracts
Samples: Loan Agreement (American Tower Systems Corp), Loan Agreement (American Radio Systems Corp /Ma/)
