Reduction of Availability Sample Clauses

Reduction of Availability. Availability under the Revolving Credit Facility will be reduced by the total outstanding undrawn amount of all Letters of Credit.
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Reduction of Availability. If the aggregate unpaid principal amount of the Loans of any Borrower, at any time, exceeds such Borrower's Availability, such Borrower shall prepay its Loans in an aggregate amount equal to the amount of such excess, together with interest thereon as provided in Section 1.03(b), on the date of the reduction of such Borrower's Availability giving rise to such excess.
Sample 1
Reduction of Availability. Notwithstanding anything to the contrary set forth in this Agreement or the other Loan Documents and for as long as (a) the sum (the "Unimpaired Percentage") of (1) 100% minus (ii) the amounts set forth in the "Percent of Income" column (expressed as a percentage) set forth in Part IV to Schedule 7.19 for properties with title defects is less than 80%, or (b) the identified title defects listed in Part I of Schedule 7.19 have not been cured, then the effective Borrowing Base shall equal (i) the amount of the current Borrowing Base either in effect pursuant to Section 2.8.1 or otherwise calculated pursuant to Sections 2.8.2 through 2.8.6 multiplied by (ii) the Unimpaired Percentage. The Borrower shall be permitted periodically to provide the Administrative Agent with (x) an updated in Part IV to Schedule 7.19 using the same format as the original Part IV and (y) reasonably satisfactory curative evidence as to the resolution of the title defects which have been removed from such updated Part IV. Upon the Administrative Agent's satisfactory review of an updated Part IV to Schedule 7.19 and the curative evidence delivered in connection therewith, the then effective Borrowing Base shall be recalculated as set forth in the first sentence of this Section 2.8.9. The Administrative Agent shall complete the review of the revised Part IV and the curative evidence within five (5) Business Days of receipt of said items. Prior to the expiration of such five (5) Business Day period, the Administrative Agent will notify the Borrower that (i) the effective Borrowing Base has been revised in accordance with this Section or (ii) the effective Borrowing Base has not been revised and the reasons therefor." This letter shall become effective upon execution and delivery hereof by the Borrower and the Required Lenders. This letter may be executed in any number of counterparts and all such counterparts shall together constitute but one and the same waiver letter. By their execution of this waiver letter, The Royal Bank of Scotland plc, as Administrative Agent and as a Lender, hereby consents to the specific waivers set forth in this letter. If you agree to the specific waivers set forth in this letter, please so indicate your consent in the space provided below. Thank you for your prompt attention to this matter. THE ROYAL BANK OF SCOTLAND plc, as Administrative Agent and as a Lender By: /s/ Xxxxxx X. Xxxxxxx Name: Xxxxxx X. Xxxxxxx Title: Managing Director ACCEPTED AND AGREED: PI...
Sample 1
Reduction of Availability. 14 3.5 Indemnification................................................. 14 3.6 Disbursements................................................... 15 3.7 Reimbursement Obligations....................................... 15 3.8 Lender's Reimbursement Obligations.............................. 15 3.9
Sample 1
Reduction of Availability. 24 6.7 Draws............................................................. 24
Sample 1
Reduction of Availability. To limit the availability under the Agreement from August 25, 1999 through September 30, 1999, the following subsection shall be added to Section 2.01 of the Agreement:
Sample 1
Reduction of Availability. Notwithstanding anything to the contrary set forth in this Agreement or the other Loan Documents and for as long as the sum (the "Unimpaired Percentage") of (1) 100% minus (ii) the amounts set forth in the "Percent of Income" column (expressed as a percentage) set forth in Part IV to Schedule 7.19 for properties with title defects is less than 80%, then the effective Borrowing Base shall equal (i) the amount of the current Borrowing Base either in effect pursuant to Section 2.8.1 or otherwise calculated pursuant to Sections 2.8.2 through 2.8.6 multiplied by (ii) the Unimpaired Percentage. The Borrower shall be permitted periodically to provide the Administrative Agent with (x) an updated in Part IV to Schedule 7.19 using the same format as the original Part IV and (y) reasonably satisfactory curative evidence as to the resolution of the title defects which have been removed from such updated Part IV. Upon the Administrative Agent's satisfactory review of an updated Part IV to Schedule 7.19 and the curative evidence delivered in connection therewith, the then effective Borrowing Base shall be recalculated as set forth in the first sentence of this Section 2.8.9. The Administrative Agent shall complete the review of the revised Part IV and the curative evidence within five (5) Business Days of receipt of said items. Prior to the expiration of such five (5) Business Day period, the Administrative Agent will notify the Borrower that (i) the effective Borrowing Base has been revised in accordance with this Section or (ii) the effective Borrowing Base has not been revised and the reasons therefor.
Sample 1
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Reduction of Availability. Letters of Credit issued under the Revolving Credit Facility shall constitute part of the Revolving Credit Facility Usage in an amount equal to 100% of the outstanding undrawn amount of such Letter of Credit.
Sample 1
Reduction of Availability. Notwithstanding anything herein to the contrary, the Bank shall not be obligated to make any Loans requested by the Borrower or to issue any Letter of Credit requested by the Borrower if the making of such Loan or the issuance of such Letter of Credit would cause the aggregate principal amount of the outstanding Loans and the face amounts of the outstanding Letters of Credit to exceed the Commitment as then in effect.
Sample 1

Related to Reduction of Availability

  • Reduction of Total Commitment The Borrower shall have the right at ----------------------------- any time and from time to time upon five (5) Business Days prior written notice to the Agent to reduce by $2,500,000 or an integral multiple of $500,000 in excess thereof or terminate entirely the Total Commitment, whereupon the Commitments of the Banks shall be reduced pro rata in accordance with their --- ---- respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated. Promptly after receiving any notice of the Borrower delivered pursuant to this (S)2.3, the Agent will notify the Banks of the substance thereof. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Banks the full amount of any commitment fee then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Termination and Reduction of Aggregate Maximum Credit Amounts (a) Scheduled Termination of Commitments. Unless previously terminated, the Commitments shall terminate on the Maturity Date. If at any time the Aggregate Maximum Credit Amounts are terminated or reduced to zero, then the Commitments shall terminate on the effective date of such termination or reduction.

  • Termination or Reduction of Aggregate Revolving Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate Revolving Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Aggregate Revolving Commitments and (iv) if, after giving effect to any reduction of the Aggregate Revolving Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Revolving Commitments, such sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination.

  • Termination Reduction or Increase of the Commitments (a) The Company shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders, provided that each partial reduction shall be in the aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and provided further that (x) the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Advances then outstanding, and (y) once terminated, a portion of a Commitment shall not be reinstated except pursuant to Section 2.05(c).

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Reduction of Commitment On the last Trading Day of each Pricing Period, the Investor’s Total Commitment under this Agreement automatically (and without the need for any amendment to this Agreement) shall be reduced, on a dollar-for-dollar basis, by the total amount of the Fixed Request Amount and the Optional Amount Dollar Amount, if any, for such Pricing Period paid to the Company at the Settlement Date.

  • Product Availability The Insurance Companies have qualified the Products for offer and sale under the applicable insurance laws of various states and other jurisdictions. Producers and Registered Representatives shall solicit applications for the Products only in states and jurisdictions where such Products have been so qualified. Producers shall, upon request, be provided with a list of those states and jurisdictions in which the Products have been qualified for sale. The Insurance Companies shall file and make all statements or reports as are or may be required by the laws of such state or jurisdiction to maintain these qualifications in effect.

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including October 6, 2016, $13,000,000, (iii) as of any date of determination during the period from October 7, 2016 through and including October 13, 2016, $17,500,000, and (iv) as of any date of determination during the period from October 14, 2016 through and including December 31, 2016, $20,000,000.

  • Reduction of the Commitments The Borrower shall have the right, upon at least two Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; provided, that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Advances then outstanding; and provided, further, that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple thereof.

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