Reduction of Facility Sample Clauses
Reduction of Facility. If, with respect to any Extension Request, (i) the Required Lenders agree to such extension, (ii) there are any Declining Lenders and (iii) such Declining Lenders cannot be replaced pursuant to Section 2.3(e), then all outstanding principal, interest and other amounts payable to the Declining Lenders shall be repaid on the then current Final Termination Date and the Total Commitments will be automatically reduced by each such Declining Lender’s Commitment on the then current Final Termination Date applicable to such Declining Lender once such repayment has been made.
Reduction of Facility. (a) On the date falling eighteen months after the date of this Agreement and on each date falling at six monthly intervals thereafter, the Total Commitments will automatically be reduced by 5 per cent. of the aggregate of:
(i) the Total Commitments on the date of this Agreement; and
(ii) the amount of any increase in the Total Commitments pursuant to Clause 2.3 (Voluntary increase).
(b) The Parent must ensure that on any date on which the Total Commitments are reduced under paragraph (a) above, the aggregate amount of the Loans in US Dollars does not exceed the Total Commitments as so reduced.
Reduction of Facility. The Total Commitments shall be reduced and/or repaid in accordance with the following provisions of this Clause 8.1 so that:
(a) the initial maximum amount or, as the case may be, the amount for the time being of the Total Commitments shall be reduced and/or repaid in accordance with Schedule 9;
(b) in addition, the initial maximum amount or, as the case may be, the maximum available amount for the time being of the Loan shall be reduced by (and the reduction/repayment amounts set out in Schedule 9 shall be reduced proportionately by an aggregate amount equal to):
(i) the amount of such portion(s) of the Total Commitments as may from time to time be cancelled by the Borrower pursuant to Clause 8.7 (Optional facility cancellation); and
(ii) the amount of any reduction(s) and/or prepayment(s) and/or repayments required to be made under or pursuant to:
(A) Clause 5.12 (Prepayment; termination of Commitments); or
(B) Clause 8.3 (Mandatory reduction on Total Loss); or
(C) Clause 8.4 (Mandatory reduction on sale of Ship); or
(D) Clause 8.5 (Reduction of Initial Total Commitments); or
(E) Clause 15.1 (Provision of additional security cover; prepayment of Loan); or
(F) Clause 19.3 (Termination of Commitments); or
(G) Clause 23.3 (Prepayment; Termination of Commitment); or
(H) Clause 24.5 (Prepayment; Termination of Commitment);
(c) the final Repayment Date shall be on the Final Maturity Date.
Reduction of Facility. The Tranche A Total Commitments and the Tranche B Total Commitments will reduce and be cancelled on 30 September 2004 and on the last day of each quarter thereafter until the Final Repayment Date (each date for such reduction of the Facilities being an "INSTALMENT DATE") by the amount (each such amount being a "REDUCTION AMOUNT") set opposite the applicable Instalment Date below: INSTALMENT DATE REDUCTION AMOUNT ------------------- ------------------ 30 September 2004 (euro) 5,000,000 31 December 2004 (euro) 15,000,000 31 March 2005 (euro) 20,000,000 30 June 2005 (euro) 20,000,000 30 September 2005 (euro) 20,000,000 Final Repayment Date (euro) 20,000,000 ------------------ (euro) 100,000,000 ------------------
Reduction of Facility. The amount of the Revolving Credit Facility may be permanently reduced by the Borrowers from time to time, without premium or penalty, on not less than five Business Days' notice to the Administrative Agent, Ratably as to the Lenders' respective Commitments, in an amount equal to $5,000,000 or an integral multiple of $1,000,000 in excess thereof and the Revolving Credit Facility shall be automatically reduced to zero on the Termination Date.
Reduction of Facility. (a) The Total Commitments shall be reduced in instalments on each Reduction Date by an amount equal to a fraction of the Total Commitments at the date of this Agreement as set out in the table below: REDUCTION DATE REDUCTION INSTALMENT (FRACTION) The date falling 4 years 1/3 after the date hereof The date falling 4 years and six Months after the date hereof 1/3 The Termination Date 1/3
(b) The Borrower shall ensure that sufficient Loans are repaid on a Reduction Date to the extent necessary so that the aggregate of the Base Currency Amounts of the outstanding Loans (after that repayment) is equal to or less than the reduced amount of the Total Commitments.
(c) Any reduction of the Total Commitments shall reduce rateably the Commitment of each Lender.
(d) If the Borrower cancels the whole or any part of the Commitments in accordance with Clause 8.2 (Voluntary Cancellation) or Clause 8.4 (Right of repayment and cancellation in relation to a single Lender) or if the Commitment of any Lender is reduced under Clause 8.1 (Illegality), then the amount of the Reduction Instalment for each Reduction Date falling after that cancellation will reduce pro rata by the amount cancelled.
Reduction of Facility. In the event any receivables (including any Receivable acquired by Purchaser hereunder) insured by the Euler Hermes Insurance Policy is in default, then the amount of availability under the Facility shall be reduced to zero.
Reduction of Facility. In the event that the Borrower’s Contribution to Bidco is less than 50%, the amount of the Facility shall be reduced pro rata. As an example, the Facility shall be reduced to USD 630.000.000 if the Borrower’s contribution of capital or Bidco Shareholder Loans to Bidco is 45%.
Reduction of Facility. If, with respect to any Extension Request, there are any Declining Lenders and such Declining Lenders cannot be replaced pursuant to Clause 6.5 (Replacement of Declining Lenders), then the Facility will be automatically reduced by each such Declining Lender’s Commitment on the then current Final Maturity Date applicable to such Declining Lender once such repayment has been made.