Required Principal Reduction Sample Clauses

Required Principal Reduction. Pay or cause to be paid Principal Payments which, together with all Principal Payments paid or caused to be paid by OPMW under the OPMW Restated Credit Agreement, are in an aggregate combined amount of not less than (a) One Hundred Nine Million dollars ($109,000,000) on or prior to December 31, 2003, (b) Two Hundred Thirty Four Million dollars ($234,000,000) on or prior to December 31, 2004, and (c) Three Hundred Nine Million dollars ($309,000,000) on or prior to June 30, 2005; and, for the avoidance of doubt, in determining compliance with this Section 5.31, if the aggregate amount of Principal Payments made during any calendar year under this Agreement and the OPMW Restated Credit Agreement exceeds the minimum level of such aggregate Principal Payments required to be made during such calendar year, such excess Principal Payments shall constitute Principal Payments for purposes of compliance with the minimum level of Principal Payments required during any subsequent calendar years. It is understood and agreed that the principal reduction made as of the Restructuring Effective Date in the amount of $6,200,000 in the aggregate, hereunder and under the OPMW Credit Agreement, shall be considered a Principal Payment for purposes of this Section 5.31. Any amendment or waiver of compliance with this Section 5.31 shall require approval by the Secured Parties hereunder and under the OPMW Restated Credit Agreement holding 66-2/3% of the sum of the Combined Exposure under this Agreement and the OPMW Combined Exposure.