Reduction of Stated Amounts Sample Clauses

Reduction of Stated Amounts. 4 SECTION 2.4 Certificates. . . . . . . . . . . . . . . . . . . . . . . 4
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Reduction of Stated Amounts. (a) Transferor may reduce the Stated Amounts of the Certificates effective as of any Distribution Date by delivering an irrevocable notice to the Agent and the Trustee, not later than 11:00 a.m., New York City time, at least ten Business Days prior to such Distribution Date; provided, that (i) each partial reduction of the Stated Amounts shall be, in the aggregate for all Certificates, in an integral multiple of $1,000,000; (ii) no partial reduction shall be made that would reduce the aggregate Stated Amounts to an amount less than the Class A Invested Amount at the time of the reduction; and (iii) no such reduction shall be effected unless the Commitment Reduction Fee is paid on the date of such reduction. Each reduction in the Stated Amounts shall be made ratably among the Purchasers in accordance with their respective Stated Amounts. The Agent shall promptly advise the Purchasers of any notice given pursuant to this section. Each reference in this Agreement to the "Stated Amount" of a Certificate means the Stated Amount of the Certificate after giving effect to any reductions made pursuant to this section.
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Reduction of Stated Amounts. Upon at least three Business Days' prior irrevocable notice to the Agent in writing, Transferor may reduce the Stated Amounts of the Certificates; provided, that (a) each partial reduction of the Stated Amounts shall be, in the aggregate for all Certificates, in an integral multiple of $1,000,000 and in a minimum principal amount of $2,000,000 and (b) no partial reduction shall be made that would reduce the aggregate Stated Amounts to an amount less than the Invested Amount at the time of the reduction. Each reduction in the Stated Amounts shall be made ratably among the Purchasers in accordance with their respective Stated Amounts. The Agent shall promptly advise the Purchasers of any notice given pursuant to this section. Each reference in this Agreement to the "Stated Amount" of a Certificate means the Stated Amount of the Certificate after giving effect to any reductions made pursuant to this section.
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Reduction of Stated Amounts. 3 2.4 Class B Certificates......................................... 4 SECTION 3 Payments.......................................................... 5 SECTION 4 Time and Method of Payment........................................ 5
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Reduction of Stated Amounts. Upon at least 30 Business Days' prior irrevocable notice to the Purchaser, NAFCO may reduce the Stated Amount of the Purchaser's Class B Certificate; provided that (i) each partial reduction of the Stated Amount shall be in an integral multiple of $500,000 and in a minimum principal amount of $500,000 and (ii) no such partial reduction shall be made which would reduce the Stated Amount to an amount less than the outstanding principal amount of the Class B Certificate at the time of such reduction. Each reference in this Agreement to the "Stated Amount" of a Class B Certificate means the Stated Amount of such Class B Certificate after giving effect to any reductions made pursuant to this Section 2.3. Promptly after the Stated Amount of the Purchaser's Class B Certificate has been reduced to zero (and all obligations owed to the Purchaser have been repaid in full), the Purchaser will xxxx its Class B Certificate "cancelled" and return it to NAFCO.
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Related to Reduction of Stated Amounts

  • Application of Commitment Reductions; Payment of Fees The Administrative Agent will promptly notify the Appropriate Lenders of any termination or reduction of unused portions of the Letter of Credit Sublimit or the Swing Line Sublimit or the unused Commitments of any Class under this Section 2.06. Upon any reduction of unused Commitments of any Class, the Commitment of each Lender of such Class shall be reduced by such Lender’s Pro Rata Share of the amount by which such Commitments are reduced (other than the termination of the Commitment of any Lender as provided in Section 3.07). All commitment fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

  • Application of Prepayments Reductions (a) Any prepayment of any Loan pursuant to Section 2.11 shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:

  • 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.

  • Optional Termination and Reduction of Aggregate Credit Amounts (i) The Borrower may at any time terminate, or from time to time reduce, the Aggregate Maximum Credit Amounts; provided that (A) each reduction of the Aggregate Maximum Credit Amounts shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (B) the Borrower shall not terminate or reduce the Aggregate Maximum Credit Amounts if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(c), the total Revolving Credit Exposures would exceed the total Commitments.

  • Termination, Reduction and Increase of Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Optional Reduction and Termination of Commitments (a) Unless previously terminated, all Revolving Commitments, Swingline Commitments and LC Commitments shall terminate on the Revolving Commitment Termination Date.

  • Termination and Reduction of Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Optional Termination or Reduction of Commitments During the Revolving Credit Period, the Company may, upon at least three Domestic Business Days’ notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $25,000,000 or any larger multiple thereof, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the Loans.

  • Allocation of Applied Realized Loss Amounts Any Applied Realized Loss Amounts shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then Outstanding in reduction of the Class Certificate Balance thereof.

  • Adjustments of Borrowings upon Effectiveness of Increase On the Commitment Increase Date, the Borrower shall (A) prepay the outstanding Loans (if any) of the affected Class in full, (B) simultaneously borrow new Loans of such Class hereunder in an amount equal to such prepayment; provided that with respect to subclauses (A) and (B), (x) the prepayment to, and borrowing from, any existing Lender shall be effected by book entry to the extent that any portion of the amount prepaid to such Lender will be subsequently borrowed from such Lender and (y) the existing Lenders, the Increasing Lenders and the Assuming Lenders shall make and receive payments among themselves, in a manner acceptable to the Administrative Agent, so that, after giving effect thereto, the Loans of such Class are held ratably by the Lenders of such Class in accordance with the respective Commitments of such Class of such Lenders (after giving effect to such Commitment Increase) and (C) pay to the Lenders of such Class the amounts, if any, payable under Section 2.15 as a result of any such prepayment. Concurrently therewith, the Lenders of such Class shall be deemed to have adjusted their participation interests in any outstanding Letters of Credit of such Class so that such interests are held ratably in accordance with their commitments of such Class as so increased.

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