Reductions in Availability Sample Clauses

Reductions in Availability. Notwithstanding the principal amount set forth above, the maximum principal amount available under this Note shall be reduced automatically and without further notice on: (i) October 1, 2003, by the amount of One Hundred Seventy-Five Thousand Dollars ($175,000.00) and (ii) January 1, 2004, by the amount of Five Hundred Thousand Dollars ($500,000.00). If the outstanding principal balance of this Note on any such date is greater than the new maximum principal amount then available hereunder, Borrower shall make a principal reduction on this Note on such date in an amount sufficient to reduce the then outstanding principal balance hereof to an amount not greater than said new maximum principal amount. (c)
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Reductions in Availability. Notwithstanding the principal amount set forth above, the maximum principal amount available under this Note shall be reduced automatically and without further notice on the last day of each calendar quarter, commencing September 30, 2002, by the amount of One Hundred Seventy-Five Thousand Dollars ($175,000.00). If the outstanding principal balance of this Note on any such date is greater than the new maximum principal amount then available hereunder, Borrower shall make a principal reduction on this Note on such date in an amount sufficient to reduce the then outstanding principal balance hereof to an amount not greater than said new maximum principal amount. (c)
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Reductions in Availability. 13 3.8 Fees.......................................................................................14 3.9
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Reductions in Availability. The principal amount available under the Line of Credit may be permanently reduced, in whole or in part, at the written request of Borrower and Co-Borrower (an "Optional Reduction"), PROVIDED that the principal amount then outstanding under the Line of Credit Note shall be equal to or less than the amount available under the Line of Credit as so reduced.
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Reductions in Availability. Notwithstanding the principal amount set forth in Section 2.1(a) above, the maximum principal amount available under the Revolving Line of Credit shall be reduced automatically and without further notice from and after June 30, 2008 by the amount of Three Million Dollars ($3,000,000.00). If the outstanding principal balance of the Revolving Line of Credit on such date is greater than the new maximum principal amount then available hereunder, Borrower shall make a principal reduction on the Revolving Line of Credit on such date in an amount sufficient to reduce the then outstanding principal balance thereof to an amount not greater than such new maximum principal amount.
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Reductions in Availability. Notwithstanding the principal amount set forth above, the maximum principal amount available under this Note shall be reduced automatically and without further notice on each October 1 and each April 1, commencing October 1, 2000, by the amount of Two Hundred Fifty Thousand Dollars ($250,000.00), resulting in maximum principal availability hereunder of $2,750,000 on October 1, 2000; $2,500,000 on April 1, 2001; $2,250,000 on October 1, 2001; and $2,000,000 on April 1, 2002, minus in each case the aggregate amount of reductions to the Line of Credit pursuant to paragraph (c) below. If the outstanding principal balance of this Note on any such date is greater than the new maximum principal amount then available hereunder, Borrower shall make a principal reduction on this Note on such date in an amount sufficient to reduce the then outstanding principal balance hereof to an amount not greater than said new maximum principal amount. If on any October 1 or April 1 the maximum principal amount then available hereunder equals or exceeds the outstanding principal balance of this Note, then Borrower shall not be required to repay principal outstanding under this Note solely by reason of the reduction in availability that occurs on such date.
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Reductions in Availability. Notwithstanding the principal amount set forth above, the maximum principal amount available under this Note shall be reduced automatically and without further notice on the date each mandatory prepayment is due under the terms of Section 1.4 the Credit Agreement by the amount of such mandatory prepayment. The maximum principal amount available under this Note shall not be reduced solely by reason of prepayments required under the terms of Section 1.7 of the Credit Agreement. If the outstanding principal balance of this Note on any such date is greater than the new maximum principal amount then available hereunder, Borrower shall make a principal reduction on this Note on such date in an amount sufficient to reduce the then outstanding principal balance hereof to an amount not greater than said new maximum principal amount.
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Related to Reductions in Availability

  • Reductions in Aggregate Commitment The Borrower may permanently reduce the Aggregate Commitment in whole or in part ratably among the Lenders in a minimum amount of $15,000,000 and integral multiples of $2,500,000 in excess thereof, upon at least two Business Days' written notice to the Administrative Agent, which notice shall specify the amount of any such reduction; provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Syndicated Advances.

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

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

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Closing Availability After giving effect to all Borrowings to be made on the Effective Date and the issuance of any Letters of Credit on the Effective Date and payment of all fees and expenses due hereunder, and with all of the Loan Parties’ Indebtedness, the Borrowers’ Availability shall not be less than $500,000.

  • 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.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • 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.

  • Opening Availability The Eligible Accounts and Eligible Inventory supporting the initial Revolving Credit Advance and the initial Letter of Credit Obligations incurred and the amount of the Reserves to be established on the Closing Date shall be sufficient in value, as determined by Agent, to provide Borrowers with Borrowing Availability, after giving effect to the initial Revolving Credit Advance, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis, with trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of sales) of at least Twenty Five Million Dollars ($25,000,000).

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