Scheduled Reductions. Commencing on September 30, 1999 and at the end of each calendar quarter thereafter, the Commitment as of September 29, 1999 shall be automatically and permanently reduced as set forth below (which reductions are in addition to those set forth in Sections 2.5(b), 2.5(c), 2.5(d) and 2.6 hereof): Quarterly Percentage of Reduction of Dates of Commitment Reduction Commitment as of September 29, 1999 September 30, 1999 and December 31, 1999 3.750% March 31, 2000, June 30, 2000, 3.125% September 30, 2000 and December 31, 2000 March 31, 2001, June 30, 2001, 4.375% September 30, 2001 and December 31, 2001 March 31, 2002, June 30, 2002, 5.625% September 30, 2002 and December 31, 2002 March 31, 2003, June 30, 2003, 5.625% September 30, 2003 and December 31, 2003 March 31, 2004, June 30, 2004 4.375% September 30, 2004 and Maturity Date The Borrower shall make a repayment of the Loans outstanding, together with accrued interest thereon, on or before the effective date of each reduction in the Commitment under this Section 2.5(a), such that the aggregate principal amount of the Loans outstanding at no time exceeds the Commitment as so reduced. Any remaining unpaid principal and interest under the Commitment shall be due and payable in full on the Maturity Date, and the Commitment shall thereupon terminate.
Scheduled Reductions. The Revolving Commitments shall be permanently reduced to zero on the fifth anniversary of the Closing Date
Scheduled Reductions. The Revolving Credit Commitment shall be -------------------- permanently reduced on the last Business Day of each of September, December, March and June and on the Revolving Credit Termination Date, by multiplying the corresponding quarterly percentage times the Revolving Credit Commitment in ----- effect on December 30, 2003 in accordance with the following table: --------------------------------------------------------------------------------------------------- Percentage Annual Reduction Percentage Quarters Ending Per Quarter Reduction -------------------------------------------------------------------------------------------------- 12/31/2003 through 9/30/2004 1.25% 5.0% 12/31/2004 through 9/30/2005 2.50% 10.0% 12/31/2005 through 9/30/2006 6.25% 25.0% 12/31/2006 through 9/30/2007 7.50% 30.0% 12/31/2007 through Revolving Credit Termination Date 7.50% 30.0% ----- 100.0% -------------------------------------------------------------------------------------------------- Any reductions pursuant to Section 2.6(a) or 2.6(c) shall be applied pro rata to -------- reduce the remaining scheduled reduction amounts required by this paragraph (b).
Scheduled Reductions. The aggregate amount of the Revolving Commitments shall be automatically reduced on each Revolving Commitment Reduction Date set forth in column (A) below to the amount (subject to reduction pursuant to paragraph (d) of this Section) set forth in column (B) below opposite such Revolving Commitment Reduction Date:
(A) (B) Revolving Commitment Revolving Commitment Reduction Date Falling Reduced to the Following on or Nearest to: Amount ($): ---------------- ---------- March 31, 2001 962,500,000 June 30, 2001 925,000,000 September 30, 2001 887,500,000 December 31, 2001 850,000,000 March 31, 2002 812,500,000 June 30, 2002 775,000,000 September 30, 2002 737,500,000 December 31, 2002 700,000,000 March 31, 2003 662,500,000 June 30, 2003 625,000,000 September 30, 2003 587,500,000 December 31, 2003 550,000,000 March 31, 2004 512,500,000 June 30, 2004 475,000,000 September 30, 2004 437,500,000 December 31, 2004 400,000,000 March 31, 2005 300,000,000 June 30, 2005 200,000,000 September 15, 2005 0 If following any Revolving Commitment Reduction Date the total Revolving Exposures shall exceed the Revolving Commitments, the Borrower shall, first, pay Revolving Loans and, second, provide cover for LC Exposure as specified in Section 2.04(k) in an aggregate amount equal to such excess.
Scheduled Reductions. The Aggregate Commitment Amount shall be automatically and permanently reduced to (i) $900,000,000 on November 28, 2008, and (ii) $500,000,000 on December 31, 2008 (in each case unless reduced to or below such amounts prior to such dates as otherwise provided herein).
Scheduled Reductions. The combined Commitments shall be automatically and permanently reduced on July 1, 2000 by $25,000,000. The reduction of the Commitments shall be applied to each Bank according to its Pro Rata Share. The Company agrees that it will, on or before the date of such scheduled reduction, make a mandatory prepayment to the Agent in the amount necessary to reduce the sum of the Dollar Equivalent of (i) the aggregate principal amount of the outstanding Loans plus (ii) the L/C Obligations to an amount which is less than or equal to the combined Commitments after giving effect to such scheduled reduction."
Scheduled Reductions. On each Amortization Date, the Borrower shall repay such principal amount (together with accrued interest thereon) of each Bank's outstanding Working Capital Loans, if any, as may be necessary so that after such repayment such Bank's Working Capital Outstandings do not exceed the amount of such Bank's Working Capital Commitment as then reduced.
Scheduled Reductions. If Schedule 2.01 as in effect at any time shall indicate that the Commitments shall be reduced on any date then, unless previously terminated, the Commitments shall be reduced by the indicated amounts at 5:00 p.m. (New York City time) on such date.
Scheduled Reductions. Commencing on December 31, 2001, the Commitment (as then in effect) shall be automatically and permanently reduced on the dates and by the percentages set forth below: Commitment Percentage Reduction Date Reduction -------------- ---------- December 31, 2001 5.000% March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002 2.500% March 31, 2003, June 30, 2003, September 30, 2003, and December 31, 2003 3.750% March 31, 2004, June 30, 2004, September 30, 2004, and December 31, 2004 5.500% March 31, 2005, June 30, 2005, September 30, 2005, and December 31, 2005 7.000% March 31, 2006 20.000%
Scheduled Reductions. The Total Commitment shall automatically -------------------- reduce on each Amortization Date by an amount equal to the Amortization Amount unless the Final Maturity Date is extended within the three months preceding such Amortization Date in accordance with Section 2.10(c) below, in which case each Amortization Date shall be delayed by one year. The Total Commitment shall be reduced to zero on the Final Maturity Date.
