First Reduction Date definition

First Reduction Date means the date falling sixty six (66) calendar months after the Execution Date.

First Reduction Date means the earlier to occur of (i) six months after the first Advance Date to occur after 30 September 2006 and (ii) 30 April 2007.

First Reduction Date means the date falling eighteen (18) months after the Execution Date.

Examples of First Reduction Date in a sentence

• On the First Reduction Date and on each of the Subsequent Reduction Dates the amount of the Facility available for drawing shall be reduced in accordance with the reduction schedule set out in Schedule 3.

• Notwithstanding the terms of the Lease, the "First Reduction Date" shall be one hundred (100) days after the later of (a) the date the Assignee L-C has been transferred to Landlord as "Beneficiary" pursuant to Section 9.2 below and (b) January 1, 2021.

• On the First Reduction Date and on each of the Subsequent Reduction Dates the amount of the Facility available for drawing shall be reduced by five million two hundred thousand Dollars ($5,200,000), which shall leave the Final Balloon Payment as being payable on the Termination Date.

• Effective as of the First Reduction Date, the Commitment Amount of U.S. Bank is hereby reduced from $135,000,000 to $80,000,000.

• At all times prior to the First Reduction Date (as defined below), the Guarantors are collectively responsible for 30% of the Principal Obligations, (ii) at all times after the First Reduction Date, the Guarantors are collectively responsible for 15% of the Principal Obligations, and (iii) at all times after the Second Reduction Date, 0% of the Principal Obligations.

More Definitions of First Reduction Date

First Reduction Date means March 29, 2019.

First Reduction Date means 15 April 2006.

First Reduction Date means the date falling six (6) calendar months after the Execution Date. \P1\3522333.10

First Reduction Date means the last day of the thirtieth (30th) full calendar month of the initial term of the Lease; provided, however, if Tenant has not been Profitable in each of the four calendar quarters immediately preceding the thirtieth (30th) full calendar month of the initial term of the Lease, the First Reduction Date shall be delayed until Tenant has been Profitable for four consecutive calendar quarters. The “Second Reduction Date” shall mean the last day of the twenty-fourth (24th) full calendar month after the First Reduction Date; provided, however, if Tenant has not been Profitable in each of the four calendar quarters immediately preceding the last day of the twenty-fourth (24th) full calendar month after the First Reduction Date, the Second Reduction Date shall be delayed until Tenant has been Profitable for four consecutive calendar quarters. The “Third Reduction Date” shall mean the last day of the twenty-fourth (24th) full calendar month after the Second Reduction Date, and for avoidance of doubt, it is agreed that no measurement of profitability in the prior quarter or quarters shall be applicable in respect to the Third Reduction Date. Tenant shall be deemed to be “Profitable” in a calendar quarter if in that calendar quarter Tenant’s EBITDA (as defined below) was positive. A “Reduction Date”shall mean the First Reduction Date, the Second Reduction Date or the Third Reduction Date, as applicable.

First Reduction Date means the date falling six (6) months after the Execution Date.

First Reduction Date means the last day of the first full fiscal quarter following the Closing Date.

First Reduction Date means the date on which Lender determines in its reasonable discretion (in response to a written request by Guarantor for such determination) that the First Reduction Conditions have been satisfied.