Common use of Scheduled Reductions of Revolving Loan Commitments Clause in Contracts

Scheduled Reductions of Revolving Loan Commitments. The Revolving Loan Commitments shall be permanently reduced on the dates and in the amounts set forth below: SCHEDULED REDUCTION OF REVOLVING DATE LOAN COMMITMENTS ---- ------------------- March 31, 2010 $583,333 June 30, 2010 $583,333 September 30, 2010 $583,333 December 31, 2010 $583,333 March 31, 2011 $583,333 June 30, 2011 $583,333 September 30, 2011 $583,333 December 31, 2011 $583,333 March 31, 2012 $777,778 June 30, 2012 $777,778 September 30, 2012 $777,778 ; provided that the scheduled reductions of the Revolving Loan Commitments set forth above shall be reduced in connection with any voluntary or mandatory reductions of the Revolving Loan Commitments in accordance with subsection 2.4B(iv); and provided, further, that the Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans shall be paid in full no later than the Final Maturity Date, and the final installment payable by Borrower in respect of the Revolving Loans on such date shall be in an amount, if such amount is different from that specified above, sufficient to repay all amounts owing by Borrower under this Agreement with respect to the Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Wellsford Real Properties Inc)

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Scheduled Reductions of Revolving Loan Commitments. The Revolving Loan Commitments shall be permanently reduced on the dates and in the amounts set forth below: SCHEDULED REDUCTION OF REVOLVING DATE LOAN COMMITMENTS ---- ------------------- June 30, 2009 $ 3,750,000.00 September 30, 2009 $ 3,750,000.00 December 31, 2009 $ 3,750,000.00 March 31, 2010 $583,333 $ 3,750,000.00 June 30, 2010 $583,333 $ 3,750,000.00 September 30, 2010 $583,333 $ 3,750,000.00 December 31, 2010 $583,333 $ 3,750,000.00 March 31, 2011 $583,333 $ 3,750,000.00 June 30, 2011 $583,333 September 30, 2011 $583,333 December 31, 2011 $583,333 March 31, 2012 $777,778 June 30, 2012 $777,778 September 30, 2012 $777,778 $ 45,000,000.00 ; provided that the scheduled reductions of the Revolving Loan Commitments set forth above shall be reduced in connection with any voluntary or mandatory reductions of the Revolving Loan Commitments in accordance with subsection 2.4B(iv); and provided, further, that the Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans shall be paid in full no later than the Final Maturity Revolving Loan Commitment Termination Date, and the final installment payable by Borrower in respect of the Revolving Loans on such date shall be in an amount, if such amount is different from that specified above, sufficient to repay all amounts owing by Borrower under this Agreement with respect to the Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Beasley Broadcast Group Inc)

Scheduled Reductions of Revolving Loan Commitments. The Revolving Loan Commitments shall be permanently reduced on the dates and in the amounts set forth below: SCHEDULED REDUCTION OF REVOLVING DATE LOAN COMMITMENTS ---- ------------------- June 30, 2013 $ 5,106,597.22 September 30, 2013 $ 5,106,597.22 December 31, 2013 $ 5,106,597.22 March 31, 2010 $583,333 2014 $ 5,106,597.22 June 30, 2010 $583,333 2014 $ 5,106,597.22 September 30, 2010 $583,333 2014 $ 5,106,597.22 December 31, 2010 $583,333 2014 $ 5,106,597.22 March 31, 2011 $583,333 2015 $ 5,106,597.22 June 30, 2011 $583,333 September 30, 2011 $583,333 December 31, 2011 $583,333 March 31, 2012 $777,778 June 30, 2012 $777,778 September 30, 2012 $777,778 2015 $ 61,279,166.67 ; provided that the scheduled reductions of the Revolving Loan Commitments set forth above shall be reduced in connection with any voluntary or mandatory reductions of the Revolving Loan Commitments in accordance with subsection 2.4B(iv); and provided, further, that the Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans shall be paid in full no later than the Final Maturity Revolving Loan Commitment Termination Date, and the final installment payable by Borrower in respect of the Revolving Loans on such date shall be in an amount, if such amount is different from that specified above, sufficient to repay all amounts owing by Borrower under this Agreement with respect to the Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Beasley Broadcast Group Inc)

Scheduled Reductions of Revolving Loan Commitments. The Revolving Loan Commitments shall be permanently reduced on the dates and in the amounts set forth below: SCHEDULED REDUCTION OF REVOLVING DATE LOAN COMMITMENTS ---- ------------------- March 31, 2010 $583,333 June 30, 2010 $583,333 September 30, 2010 $583,333 December 31, 2010 $583,333 March 31, 2011 $583,333 June 30, 2011 $583,333 $ 5,968,750 September 30, 2011 $583,333 $ 5,968,750 December 31, 2011 $583,333 $ 5,968,750 March 31, 2012 $777,778 $ 5,968,750 June 30, 2012 $777,778 $ 5,968,750 September 30, 2012 $777,778 $ 5,968,750 December 31, 2012 $ 5,968,750 March 31, 2013 $ 5,968,750 June 30, 2013 $ 71,625,000 ; provided that the scheduled reductions of the Revolving Loan Commitments set forth above shall be reduced in connection with any voluntary or mandatory reductions of the Revolving Loan Commitments in accordance with subsection 2.4B(iv); and provided, further, that the Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans shall be paid in full no later than the Final Maturity Revolving Loan Commitment Termination Date, and the final installment payable by Borrower in respect of the Revolving Loans on such date shall be in an amount, if such amount is different from that specified above, sufficient to repay all amounts owing by Borrower under this Agreement with respect to the Revolving Loans.”

Appears in 1 contract

Samples: Credit Agreement (Beasley Broadcast Group Inc)

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Scheduled Reductions of Revolving Loan Commitments. The Revolving Loan Commitments shall be permanently reduced on the dates and in the amounts set forth below: SCHEDULED REDUCTION OF REVOLVING DATE LOAN COMMITMENTS ---- ------------------- March 31, 2010 $583,333 2004 $ 2,586,875.00 June 30, 2010 $583,333 2004 $ 2,586,875.00 September 30, 2010 $583,333 2004 $ 2,586,875.00 December 31, 2010 $583,333 2004 $ 2,586,875.00 March 31, 2011 $583,333 2005 $ 3,880,312.50 June 30, 2011 $583,333 2005 $ 3,880,312.50 September 30, 2011 $583,333 2005 $ 3,880,312.50 December 31, 2011 $583,333 2005 $ 3,880,312.50 March 31, 2012 $777,778 2006 $ 3,880,312.50 June 30, 2012 $777,778 2006 $ 3,880,312.50 September 30, 2012 $777,778 2006 $ 3,880,312.50 December 31, 2006 $ 3,880,312.50 March 31, 2007 $ 5,173,750.00 June 30, 2007 $ 5,173,750.00 September 30, 2007 $ 5,173,750.00 December 31, 2007 $ 5,173,750.00 March 31, 2008 $ 20,695,000.00 June 30, 2008 $ 20,695,000.00 ; provided that the scheduled reductions of the Revolving Loan Commitments set forth above shall be reduced in connection with any voluntary or mandatory reductions of the Revolving Loan Commitments in accordance with subsection 2.4B(iv); and provided, 39 further, that the Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans shall be paid in full no later than the Final Maturity Revolving Loan Commitment Termination Date, and the final installment payable by Borrower in respect of the Revolving Loans on such date shall be in an amount, if such amount is different from that specified above, sufficient to repay all amounts owing by Borrower under this Agreement with respect to the Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Beasley Broadcast Group Inc)

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