Scheduled Mandatory Reductions Sample Clauses

Scheduled Mandatory Reductions. The Borrower shall reduce the Commitments by $10,000,000 on February 28, 2002; an additional $20,000,000 on August 31, 2002; an additional $15,000,000 on February 28, 2003; and an additional $15,000,000 on May 31, 2003.
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Scheduled Mandatory Reductions. On each date set forth below, the Total Commitment Amount shall automatically and permanently be reduced by the amount set forth opposite such date: DATE AMOUNT ---- ------ December 31, 2002 $25,000,000 March 31, 2003 $25,000,000 June 30, 2003 $25,000,000 September 30, 2003 $25,000,000 December 31, 2003 $50,000,000 Commitment Termination Date $275,000,000. Voluntary reductions of the Total Commitment Amount pursuant to SECTION 2.2.2(a) and mandatory reductions of the Total Commitment Amount pursuant to SECTIONS 2.2.2(c) and (d) shall diminish the amount of scheduled reductions to the Total Commitment Amount thereafter occurring pursuant to this SECTION 2.2.2(b) in inverse order of scheduled occurrence.
Sample 1
Scheduled Mandatory Reductions. On each of the dates set forth below, the Aggregate Commitment Amount shall be automatically reduced by the amount set forth below adjacent to such date: Date Amount March 31, 2001 $ 2,500,000 June 30, 2001 $ 2,500,000 September 30, 2001 $ 2,500,000 December 31, 2001 $ 2,500,000 March 31, 2002 $ 4,000,000 June 30, 2002 $ 4,000,000 September 30, 2002 $ 4,000,000 30 December 31, 2002 $ 4,000,000 March 31, 2003 $ 6,000,000 June 30, 2003 $ 6,000,000 September 30, 2003 $ 6,000,000 December 31, 2003 $ 6,000,000 March 31, 2004 $ 9,000,000 June 30, 2004 $ 9,000,000 September 30, 2004 $ 9,000,000 December 31, 2004 $ 9,000,000 March 31, 2005 $13,500,000 June 30, 2005 $13,500,000 September 30, 2005 $13,500,000 December 31, 2005 $13,500,000
Sample 1
Scheduled Mandatory Reductions. On each of the dates set forth below, the Aggregate Revolving Commitment shall be automatically reduced by the amount equal to the Aggregate Revolving Commitment as of the Effective Date multiplied by the percentage (as the same may be adjusted pursuant to Section 2.3(f)) set forth below adjacent to such date: Date Percentage ---- ---------- March 31, 2000 2.50% June 30, 2000 2.50% September 30, 2000 2.50% December 31, 2000 2.50% March 31, 2001 3.75% June 30, 2001 3.75% September 30, 2001 3.75% December 31, 2001 3.75% March 31, 2002 5.00% June 30, 2002 5.00% September 30, 2002 5.00% December 31, 2002 5.00% March 31, 2003 6.25% June 30, 2003 6.25% September 30, 2003 6.25% December 31, 2003 6.25% March 31, 2004 6.25% June 30, 2004 6.25% September 30, 2004 6.25% December 31, 2004 6.25% March 31, 2005 5.00%
Sample 1
Scheduled Mandatory Reductions. Section 2.8(a) of the Credit Agreement ------------------------------ -------------- is hereby amended to state in its entirety as follows:
Sample 1

Related to Scheduled Mandatory Reductions

  • Mandatory Reductions If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

  • Mandatory Reduction At the close of business on the Termination Date, the aggregate Commitments shall be automatically and permanently reduced, on a pro rata basis, by an amount equal to the amount by which the aggregate Commitments immediately prior to giving effect to such reduction exceed the aggregate unpaid principal amount of the Committed Advances then outstanding.

  • Mandatory Reduction of Commitments (a) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment (and the Commitment of each Lender) shall terminate in its entirety on the Commitment Termination Date. (b) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment (and the Commitments of each Lender) shall be reduced: (i) (immediately after the relevant Loans are made) on each Borrowing Date by the amount of Total Commitment utilized to make the Loans made on such Borrowing Date; and (ii) on each borrowing date under the Other Term Loan Facility (immediately after the relevant loans are made on such borrowing date under the Other Term Loan Facility) by the amount of Total Commitment utilized to make the loans under the Other Term Loan Facility on such borrowing date. (c) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be terminated at the times required by Section 4.02. (d) Each reduction to the Total Commitment pursuant to this Section 3.03 and Section 4.02 shall be applied proportionately to reduce the Commitment of each Lender. (e) In addition to any other mandatory commitment reductions pursuant to this Section 3.03 or any other Section of this Agreement, the Total Commitment shall be reduced pursuant to Section 3.03 and 3.02 of the Other Term Loan Facility.

  • Mandatory Repayments (a) On any day on which the sum of (I) the aggregate outstanding principal amount of all Revolving Loans (after giving effect to all other repayments thereof on such date), (II) the aggregate outstanding principal amount of all Swingline Loans (after giving effect to all other repayments thereof on such date) and (III) the aggregate amount of all Letter of Credit Outstandings, exceeds the Total Commitment as then in effect, the Borrower shall prepay on such day the principal of Swingline Loans and, after all Swingline Loans have been repaid in full or no Swingline Loans are outstanding, Revolving Loans in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving Loans, the aggregate amount of the Letter of Credit Outstandings exceeds the Total Commitment as then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash equal to the amount of such excess (up to a maximum amount equal to the Letter of Credit Outstandings at such time), such cash to be held as security for all obligations of the Borrower to the Issuing Lender and the Lenders hereunder in a cash collateral account to be established by the Administrative Agent. (b) Notwithstanding anything to the contrary contained in this Agreement or in any other Credit Document, (i) all then outstanding Revolving Loans shall be repaid in full on the Maturity Date, (ii) all then outstanding Swingline Loans shall be repaid in full on the Swingline Expiry Date and (iii) all then outstanding Loans shall be repaid in full on the date on which a Change of Control occurs. (c) On any day on which the Asset Coverage Ratio is less than 2.00:1.00 (based on the most recently delivered Valuation Certificate, subject to adjustments contemplated by Section 8.01(j)), the Borrower shall prepay principal of outstanding Loans and/or cash collateralize outstanding Letters of Credit, in accordance with the immediately following sentence, in an aggregate amount necessary to increase the Asset Coverage Ratio to at least 2.00:1.

  • Mandatory Repayment The aggregate principal amount of the Loans outstanding on the Maturity Date, together with accrued but unpaid interest thereon, shall be due and payable in full on the Maturity Date.

  • Mandatory Retirement Retirement shall be mandatory only to the extent required by law.

  • Mandatory Termination of Commitments The Commitments shall terminate on the Termination Date and any Loans then outstanding (together with accrued interest thereon) shall be due and payable on such date.

  • Voluntary and Mandatory Prepayments Scheduled installments of principal of the Series [ ] New Term Loans set forth above shall be reduced in connection with any voluntary or mandatory prepayments of the Series [ ] New Term Loans in accordance with Sections 5.1 and 5.2 of the Credit Agreement respectively.

  • Termination or Reduction of Aggregate Revolving Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate Revolving Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $500,000 or any whole multiple of $500,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Aggregate Revolving Commitments and (iv) if, after giving effect to any reduction of the Aggregate Revolving Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Revolving Commitments, such sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination. Notwithstanding anything herein to the contrary, the Borrower may rescind any notice of termination of Aggregate Revolving Commitments under this Section 2.06 if such termination would have resulted from the refinancing of all or a portion of the Loans, which refinancing shall not be consummated or shall otherwise be delayed.

  • Scheduled Termination of Commitments Unless previously terminated, the Commitments shall terminate on the Maturity Date. If at any time the Aggregate Maximum Credit Amounts or the Borrowing Base is terminated or reduced to zero, then the Commitments shall terminate on the effective date of such termination or reduction.

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