Permanent Reduction definition

Permanent Reduction any voluntary reduction by the Borrower of revolving credit commitments under a Bank Credit Facility to an aggregate amount which is less than the average daily outstanding principal amount of revolving credit loans under such Bank Credit Facility during the six month period preceding the date of such reduction.
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Permanent Reduction has the meaning set forth in Section 3.12(b) hereof.
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Permanent Reduction means any or all of the following: (i) the permanent repayment or prepayment of outstanding Loan principal, Letter of Credit reimbursement obligations or bankers acceptances under any Credit Document (and the concurrent termination or reduction of any related commitments), (ii) a Letter of Credit Collateralization and (iii) in the case of a Permanent Reduction consisting of an application of Net Cash Proceeds of Senior Debt Collateral, (A) a Notes Escrow Delivery and (B) an Unfunded Commitment Reduction.
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Examples of Permanent Reduction in a sentence

  • SECTION 2.5 Permanent Reduction of the Revolving Credit Commitment.

  • Following such Permanent Reduction, the VFN Holders shall only be required to fund increases in the VFN Principal Balance up to such reduced Maximum VFN Principal Balance.

  • Any Holder of Notes will automatically be deemed to have irrevocably waived its right to claim or receive, and will not have any rights against the Company or the Trustee with respect to, repayment of, the Permanent Reduction Amount, irrespective of whether such amounts have become due and payable prior to the date on which the Write-Down Event shall have occurred.

  • No Voluntary Permanent Reduction or Mandatory Commitment Reductions shall relieve or otherwise defer the making of each Scheduled Reduction on each Reduction Date.

  • In the event of a Permanent Reduction of Hours or Program Closure, non-probationary employees being laid off will receive seven (7) calendar days’ notice by personal contact, telephone call, or written communication prior to being laid off.

  • Permanent Reduction in LIHTCs. The NEFAC Capital Contribution to the Partnership shall be decreased if: (i) the receipt of the Project Cost Certification, or (ii) the receipt of the Form 8609 for the Project, the maximum Actual Tax Credits are less than the Projected Tax Credits.

  • For purposes of the Subordination Agreement, and to induce FBR to consent to this Amendment, the Bank confirms that any Mandatory Permanent Reduction or Voluntary Permanent Reduction as defined above shall constitute a "Permanent Reduction" as contemplated by Section 3 of the Subordination Agreement.

  • Any Write-Down Notice will be accompanied by an Officers’ Certificate stating that a Write-Down Event has occurred, specifying the Reduction Date, which shall be the Business Day following the occurrence of the Write-Down Event, setting out the method of calculation of the Permanent Reduction Amount and indicating the amounts of principal, interest and any other amounts due comprising the Permanent Reduction Amount.

  • Each mandatory prepayment on account of principal of and interest on the Term Loans pursuant to Section 2.12 shall be applied first, ratably to the remaining installments thereof and then to repay Loans outstanding under the Revolving Facility (not in Permanent Reduction of the Revolving Commitment).

  • Total cost will not exceed $50.00 Employee Recognition for Resignations/Retirements HRDC employees with a positive work history and, whose most recent evaluations are average or above who Resign, Retire, are Terminated due to expiration of Long-term Disability Leave, or whose employment with HRDC is severed due to a Permanent Reduction in Force are eligible for the following: Years of ServeDescription of Celebration2-5Agency will contribute up to $35.00 toward a luncheon.


More Definitions of Permanent Reduction

Permanent Reduction means, in connection with a permanent reduction ------------------- of the principal balance of a Mortgage Loan referred to in clause (i) of the definition of Limited Guaranty Draw Asset, the amount of the reduction of the principal balance of such loan.
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Permanent Reduction means, in respect of a Reference Obligation, the amount, in the relevant currency, of any permanent commitment reductions and permanent repayments of principal effected in respect of such Reference Obligation.
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Related to Permanent Reduction

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

  • Aggregate Reduction has the meaning specified in Section 1.3.

  • extended reduction means a reduction under this scheme for which a person is eligible under Part 12 (extended reductions);

  • Source reduction means any practice that reduces the amount of any hazardous substance, pollutant, or contaminant entering any waste stream or otherwise released into the environment prior to recycling, energy recovery, treatment, or disposal.

  • Proposed Reduction Date has the meaning set forth in Section 1.3.

  • Reduction means measures designed to reduce or eliminate human exposure to lead-based paint hazards through methods including interim controls and abatement.

  • Waste reduction , or “pollution prevention” means the practice of minimizing the generation of waste at the source and, when wastes cannot be prevented, utilizing environmentally sound on-site or off-site reuse and recycling. The term includes equipment or technology modifications, process or procedure modifications, product reformulation or redesign, and raw material substitutions. Waste treatment, control, management, and disposal are not considered pollution prevention, per the definitions under Part 143, Waste Minimization, of the Natural Resources and Environmental Protection Act (NREPA), 1994 PA 451, as amended.

  • Permanent Total Disablement means a bodily injury caused by accidental, external, violent and visible means, which as a direct consequence thereof totally disables and prevents the insured from attending to any business or occupation of any and every kind or if he/she has no business or occupation, from attending to his/her usual and normal duties that last for a continuous period of twelve calendar months from the date of the accident, with no hopes of improvement in future

  • Permanent residence means a place where the person abides, lodges, or resides for 5 or more consecutive days.

  • permanent resident means any occupant of any room or rooms in a hotel or transient accommodation for at least 90 consecutive days shall be considered a permanent resident with regard to the period of such occupancy.

  • Relief Act Reduction With respect to any Mortgage Loan as to which there has been a reduction in the amount of the interest collectible thereon as a result of the application of the Servicemembers Civil Relief Act, any amount by which interest collectible on such Mortgage Loan for the Due Date in the related Due Period is less than the interest accrued thereon for the applicable one-month period at the Mortgage Interest Rate without giving effect to such reduction.

  • Permanent Work means the permanent works including equipment to be supplied, executed, erected and maintained in accordance with the Contract.

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Permanent total disability means incapacity because of accidental injury or occupational disease to earn any wages in any employment for which the employee may become physically suited and reasonably fitted by education, training or experience, including vocational rehabilitation; loss of both hands, or both feet, or both legs, or both eyes, or any two thereof, shall constitute permanent total disability;

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Permanent and Total Disability means any medically determinable physical or mental impairment rendering an individual unable to engage in any substantial gainful activity, which disability can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than 12 months.

  • Relief Act Reductions With respect to any Distribution Date and any Mortgage Loan as to which there has been a reduction in the amount of interest collectible thereon for the most recently ended calendar month as a result of the application of the Relief Act, the amount, if any, by which (i) interest collectible on such Mortgage Loan for the most recently ended calendar month is less than (ii) interest accrued thereon for such month pursuant to the Mortgage Note.

  • Permanent impairment means the loss of or loss of use of a member of the body existing after the date of maximum medical improvement and includes disfigurement resulting from an injury.

  • Substantial Change means a change to the terms of this Agreement that reduces your rights or increases your responsibilities.

  • alternative maximum council tax reduction means the amount determined in accordance with paragraph 31 and Schedule 4;

  • permanent establishment means a fixed place of business through which the business of an enterprise is wholly or partly carried on.

  • Permanent partial disability means a permanent disability

  • Reduction Date has the meaning set forth in Section 20.1B.

  • Debt Service Reduction With respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of competent jurisdiction in a proceeding under the Bankruptcy Code, except such a reduction resulting from a Deficient Valuation.

  • FX Reduction Amount is defined in Section 2.1.3.

  • Permanent status means the state or condition achieved by an employee in the classified service who has successfully completed an initial probationary period or a probationary period required following reinstatement, or whose probationary period is waived through specific statutory direction.