Monthly Commitment Reduction is used herein, as defined in Section 2(f) hereof.
Monthly Commitment Reduction means the amount by which the Commitment shall be reduced as of the first day of each calendar month pursuant to Section 2.02.
Monthly Commitment Reduction means those monthly reductions to the Revolving Commitment determined in accordance with Section 2.1 and 2.6 below.
Examples of Monthly Commitment Reduction in a sentence
The Borrowing Base in effect during the period from and including the Effective Date to a redetermination pursuant to Section 2.06(b) below shall be the Initial Borrowing Base and the Monthly Commitment Reduction during such period shall be $0.00 and the Half Life shall be 60 months.
The Borrowing Base component of the Commitment shall be reduced by the Monthly Commitment Reduction, if applicable pursuant to Article IV, on the first (1st) day of each calendar month during the term hereof.
More Definitions of Monthly Commitment Reduction
Monthly Commitment Reduction is used herein as defined in Section 7(d) hereof.
Monthly Commitment Reduction means those monthly decreases to the Borrowing Base occurring as of the first (1st) day of each month during the term hereof as determined by the Lender in accordance with Article II below.
Monthly Commitment Reduction. The term "Monthly Commitment Reduction" shall mean the monthly amount as designated by the Bank, which shall reduce the maximum principal amount available for advances on the Note, on a monthly basis from each Evaluation Date until the next occurring Evaluation Date. The initial Monthly Commitment Reduction shall be $55,000.00 per month.
Monthly Commitment Reduction means those monthly decreases to the Borrowing Base occurring as of the first (1st) day of each month during the term hereof as determined by Lender accordance with Section 2.9 below.
Monthly Commitment Reduction shall have the meaning given such term in Section 2(f) below.
Monthly Commitment Reduction means the monthly commitment reduction as determined in accordance with Section 4.6 hereof and refers to the amount set by Administrative Agent by which the Borrowing Base shall be automatically reduced effective as of the last day of each successive calendar month until the next Determination. Administrative Agent's determination of the Monthly Commitment Reduction will use such methodology, assumptions, and discount rates customarily used with respect to credits of a similar size and nature in determining commitment reductions and will be based upon such other credit factors or financial information available to Administrative Agent at the time of each Determination, including, without limitation, the economic half-life of the Mineral Interests, and Borrower's assets, liabilities, cash flow, liquidity, business, properties, prospects, management, and ownership. The Monthly Commitment Reduction will initially be set at zero dollars ($0).
Monthly Commitment Reduction as used herein, as defined in Section 2(f) hereof.