Common use of Scheduled Reduction Date Clause in Contracts

Scheduled Reduction Date. The unpaid principal amount of the Obligations with respect to Temporary Increase Loans that are outstanding on the Scheduled Reduction Date, together with all accrued but unpaid interest thereon, shall be due and payable on the Scheduled Reduction Date and the Maximum Commitment shall automatically decrease by the aggregate amount of the Temporary Increase Commitments without any further action by any party hereto.

Appears in 4 contracts

Samples: Revolving Credit Agreement (MN8 Energy, Inc.), Revolving Credit Agreement (MN8 Energy, Inc.), Revolving Credit Agreement (New PubCo Renewable Power Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!