Repayment and Reduction Clause Samples

Repayment and Reduction. (a) On each Reduction Date the Total Commitments shall be reduced by the Reduction Amount. Such reductions shall be effected: (i) First, by the reduction of any undrawn Commitments; and (ii) secondly, if the undrawn Commitments are less than the Reduction Amount due on such Reduction Date (the "shortfall amount") each Borrower shall repay a Reduction Fraction of its Outstandings in an amount equal to the Relevant Fraction of the shortfall amount as shall ensure that subsequent to the Reduction Date the aggregate amount of the North Sea Outstandings, Norge Outstandings and/or the GulfMark Outstandings, as the case may be, shall not exceed the Total Commitments as reduced by the relevant Reduction Amount due on such Reduction Date. (b) Neither the Commitment reduced by nor any amount repaid pursuant to clause 6.1(a) shall be available for reborrowing. (c) Any Outstandings on the Final Maturity Date shall be repaid by the relevant Borrower on the Final Maturity Date.

Repayment and Reduction. Borrower shall continue to make all interest payments as they become due under the Loan Agreement. In addition, Borrower shall make additional payments, to be applied to the principal balance of the Export Loans on the dates and in the amounts as follows: Earlier of Sale Date with respect to the Transaction Assets set forth on Exhibit A or February 8, 2019 Lesser of (a) amount required to repay all principal, interest and fees or (b) $350,000 Earlier of Sale Date with respect to the Italian service business assets forth on Exhibit A or March 15, 2019 Lesser of (a) amount required to repay all principal, interest and fees or (b) $350,000 March 21, 2019 Lesser of (a) amount required to repay all principal, interest and fees or (b) $200,000 April 1, 2019 All outstanding principal, interest and fees. Principal repayments that are derived from the sale of the Transaction Assets or the Italian service business shall be wired directly to the Bank, per wire instructions to be provided by Bank, at the time and date of the respective sale closing. Amounts repaid to Bank shall not be available for re-advance. Bank has no obligation to make any advances to Borrower, whether under the Revolving Note or otherwise, and Borrower shall not request any advances from Bank under the Revolving Note or otherwise.

Repayment and Reduction. 16 7.1 Repayment....................................................16 7.2 Prepayment...................................................17 7.3 Mandatory Prepayment on Wilmslow Disposal and other Disposals..........................................17 7.4 Cancellation.................................................17

Repayment and Reduction. (i) The Borrower

Repayment and Reduction