Commitment Reduction Percentage. The meaning ascribed thereto in the Fee Letter.
Commitment Reduction Percentage. On any date (a) on or prior to the second anniversary of the Closing Date, the Asset Rejection Percentage is less than or equal to 50%, and (i) if such date is on or prior to the first anniversary of the Closing Date, 2.00% or (ii) if such date is after the first anniversary of the Closing Date, a percentage equal to the product of (x) the number of days remaining until the two-year anniversary of the Closing Date divided by 365 and (y) 1.00% and (b) where either the Asset Rejection Percentage is greater than 50% or such date is after the second anniversary of the Closing Date, zero percent.
Commitment Reduction Percentage. (a) On or prior to the first anniversary of the Closing Date, 2.00% and (b) after the first anniversary of the Closing Date, and on or prior to the second anniversary of the Closing Date, 1.00%.
Examples of Commitment Reduction Percentage in a sentence
On the last Business Day of each month listed on Schedule 2.3, the Aggregate Revolving Commitment Amount shall be automatically reduced by an amount equal to the product of (i) the percentage set forth under the heading "Revolving Commitment Reduction Percentage" set forth adjacent to such month on such Schedule, multiplied by (ii) the Aggregate Revolving Commitment Amount as in effect on March 29, 2001.
More Definitions of Commitment Reduction Percentage
Commitment Reduction Percentage. (a) On or prior to October 21, 2012, a rate per annum equal to 3.0%, (b) after October 21, 2012 and on or prior to October 21, 2013, a rate per annum equal to 2.0%, (c) after October 21, 2013 and on or prior to August 28, 2014, a rate per annum equal to 1.0% and (d) after August 28, 2014, zero.
Commitment Reduction Percentage. On or prior to the one-year anniversary of the Fifth Amendment Closing Date, a percentage equal to 1.00%.
Commitment Reduction Percentage. On any date where (a) the Asset Rejection Percentage is less than or equal to 50%, if such date is on or prior to the first anniversary of the Second Amendment Closing Date, 1.00% and (b) either the Asset Rejection Percentage is greater than 50% or such date is after the first anniversary of the Second Amendment Closing Date, zero percent.
Commitment Reduction Percentage. (a) On or prior to June 21, 2022, 2.00% and (b) after June 21, 2022, and on or prior to June 21, 2023, 1.00%.
Commitment Reduction Percentage means, as of any Commitment Reduction Date occurring on or prior to November 17, 2007, the percentage obtained by dividing the Commitment Reduction Amount by the Total Maximum Commitment as of such Commitment Reduction Date, and (ii) "Commitment Reduction Premium" shall mean, with respect to any Commitment Reduction Date occurring on or prior to November 17, 2007, an amount equal to the present value of the Commitment Reduction Percentage of the remaining commitment fees calculated as follows:
Commitment Reduction Percentage. (a) On or prior to March 31, 2013, a rate per annum equal to 1.00% and (b) after March 31, 2013, zero.
Commitment Reduction Percentage. (a) On or prior to the first anniversary of the First Amendment Closing Date, 2.00% and (b) after the first anniversary of the First Amendment Closing Date, and on or prior to the second anniversary of the FirstSecond Amendment Closing Date, 1.00%. “Contractual Obligation”: With respect to any Person, any provision of any securities issued by such Person or any mortgage, deed of trust, contract, undertaking, agreement, instrument or other material document to which such Person is a party or by which it or any of its property is bound or to which either is subject. “Corporate Trust Office”: The applicable designated corporate trust office of the Collateral Agent specified on Annex A hereto, or such other address within the United States as the Collateral Agent may designate from time to time by at least 30 days prior written notice to the Administrative Agent. “Covered Party”: Any Secured Party that is one of the following: (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §252.82(b); (ii) a -15-