Mandatory Commitment Reduction definition

Mandatory Commitment Reduction means those monthly or quarterly reductions to the Revolving Commitment determined in connection with any future determination of the Borrowing Base under Section 2.6.
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Mandatory Commitment Reduction means any reduction of the Commitment made under the Credit Agreement pursuant to Section 2.06(b) of the Credit Agreement.
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Mandatory Commitment Reduction has the meaning set forth in Section 2.04(c).
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Examples of Mandatory Commitment Reduction in a sentence

  • Each Mandatory Commitment Reduction shall be made ratably among the Lenders in accordance with their respective Revolving Commitments.

  • A synthetic sample containing 0.75 mg/l fluoride, 2.5 mg/l polyphosphate and 300 mg/l alkalinity had a mean of 0.75 mg/l fluoride with a standard deviation of + or - 0.036.

  • Any of the Term Lenders that wishes to decline its Pro Rata Share of such reduction of the Term Facility (and its corresponding prepayment of the outstanding Term Advances owing to it on the related Mandatory Commitment Reduction Date) (a "DECLINING LENDER") shall give written notice thereof to the Administrative Agent not later than 12:00 Noon (New York City time) on the Business Day immediately preceding the related Mandatory Commitment Reduction Date.

  • If a Default or Event of Default (other than non-monetary Events of Default occurring as a direct consequence of such casualty loss or condemnation) has occurred hereunder and is then continuing, such amount may, at the option of Requisite Lenders, be applied as a Mandatory Commitment Reduction.

  • Promptly following any Mandatory Commitment Reduction Date, the Borrower shall deliver to the Administrative Agent notice of any reduction in the Commitments on such date pursuant to this subsection (b).

  • For avoidance of doubt, the following is a hypothetical example of the application of this paragraph: if there were to occur a Mandatory Commitment Reduction June 25, 2000 in the amount of $3,500,000, the effect would be that the Scheduled Commitment Reductions on June 30, 2000 and December 31, 2000 would each be reduced to zero and the Scheduled Commitment Reduction on June 30, 2001 would be reduced to $1,000,000.

  • For the avoidance of doubt, a Mandatory Commitment Reduction shall not cause the Aggregate Commitment to be less than $400,000,000.

  • The Administrative Agent shall by notice to the Borrower designate such amount as the new Borrowing Base and Mandatory Commitment Reduction available to the Borrower hereunder, which designation shall take effect immediately on the date such notice is sent and shall remain in effect until but not including the next Determination Date.

  • The Mandatory Prepayment Funds shall first be applied to the Collective Facilities on a pro rata basis based on the principal amount, as of the date of the applicable prepayment, of outstanding Advances (as such term is defined herein or in the Consolidated Credit Agreement, as applicable) in an amount equal to the Mandatory Commitment Reduction.

  • Two users left the experiment in an early stage, so that no PORs could be recognised.


More Definitions of Mandatory Commitment Reduction

Mandatory Commitment Reduction is defined in Section 2.4(c).
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Mandatory Commitment Reduction means a permanent reduction of the Aggregate Commitment and Maximum Permitted Balance as may be required from time to time under Sections 5.01 and 8.02 or pursuant to the requirements for use of Make Well Contributions in the determination of Adjusted EBITDA.
Sample 1

Related to Mandatory Commitment Reduction

  • Commitment Reduction Notice has the meaning given that term in Section 2.13.

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Total Utilization of Revolving Loan Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the applicable Issuing Lender for any amount drawn under any Letter of Credit but not yet so applied) plus (ii) the aggregate principal amount of all outstanding Swing Line Loans plus (iii) the Letter of Credit Usage.

  • Revolving Committed Amount shall have the meaning set forth in Section 2.1(a).

  • Revolving Commitment Amount means the Revolving Commitment amount (if any) set forth adjacent to such Lender’s name on Schedule A attached hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • Total Utilization of Revolving Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing Issuing Bank for any amount drawn under any Letter of Credit, but not yet so applied), (ii) the aggregate principal amount of all outstanding Swing Line Loans, and (iii) the Letter of Credit Usage.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.

  • Aggregate Revolving Committed Amount means the aggregate amount of Commitments in effect from time to time, being initially One Hundred Fifty Million Dollars ($150,000,000) (as such amount may be increased as provided in Section 2.5 or reduced as provided in Section 2.9 from time to time).

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Designated Revolving Commitments means the amount or amounts of any commitments to make loans or extend credit on a revolving basis to the Company or any of its Restricted Subsidiaries by any Person other than the Company or any of its Restricted Subsidiaries that has or have been designated (but only to the extent so designated) in an Officers’ Certificate delivered to the Trustee as “Designated Revolving Commitments” until such time as the Company subsequently delivers an Officers’ Certificate to the Trustee to the effect that the amount or amounts of such commitments shall no longer constitute “Designated Revolving Commitments.”

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Aggregate Revolving Commitment means the aggregate of the Revolving Commitments of all of the Revolving Lenders, as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Revolving Commitment is $1,000,000,000.

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Available Revolving Commitment as to any Revolving Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding; provided, that in calculating any Lender’s Revolving Extensions of Credit for the purpose of determining such Lender’s Available Revolving Commitment pursuant to Section 2.8(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero.

  • Aggregate Revolving Commitments means the Revolving Commitments of all the Lenders. The amount of the Aggregate Revolving Commitments in effect on the Closing Date is SIX HUNDRED MILLION DOLLARS ($600,000,000).

  • Commitment Increase Notice as defined in Section 2.1(b).

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Revolving Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Revolving Commitment, if any, is set forth on Appendix A or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Revolving Commitments as of the Closing Date is $500,000,000.

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Commitment Increase has the meaning specified in Section 2.18(a).

  • Total Commitment Amount means, at any particular time, the aggregate of the Individual Commitments of all of the Lenders at such time.