Reduced Commitment definition

Reduced Commitment shall have the meaning set forth in Section 2.7(d).
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Reduced Commitment means, as applied to any Bank, the amount at such time of such Bank's Commitment, minus the amount set forth opposite such Bank's name under the caption "Reduced Commitment" on the signature pages hereof.
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Reduced Commitment means any reductions in the Current Commitment pursuant to Section 2.04(a)(i) or (a)(ii).
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Examples of Reduced Commitment in a sentence

  • During the Reduction Period, commencing with the first Loan Payment Date occurring on or after the end of the first Calendar Quarter following the Initial Line Maturity Date and continuing at the end of each Calendar Quarter thereafter, Borrower shall make any Required Principal Payment necessary to reduce the outstanding Loan Balance to a sum not in excess of the then-applicable Reduced Commitment Amount.

  • The Available Commitment shall be determined in accordance with this Section 2.2 and shall be the lesser of (a) the applicable Commitment Amount or Reduced Commitment Amount, as in effect from time to time, or (b) the Borrowing Base.

  • Prior to the Initial Line Maturity Date, no prepayment of the Loan shall reduce the Commitment Amount, unless Borrower relinquishes in writing its right to obtain an Advance of all or any of the amount so prepaid; during the Reduction Period, principal payment(s) may be required as provided herein to reduce the Loan Balance to the applicable Reduced Commitment Amount.

  • On the first day of each Seasonal Commitment Decrease Period, without notice of any kind to Borrowers, the Total Commitment Amount shall automatically be reduced to the Seasonal Reduced Commitment Amount.

  • At no time during the term of the Loan shall the outstanding amounts owing under the Loan exceed the Reduced Commitment.

  • During the Initial Line Term, a Commitment Fee equal to one-half of one percent (0.50%) per annum on the full Commitment Amount shall be payable, and during the Reduction Period, a Commitment Fee equal to one-half of one percent (0.50%) per annum on the then-applicable Reduced Commitment Amount shall be payable.

  • The amount of the Commitments shall automatically (and without notice to or from the Borrower) be deemed to ratably (x) decrease as of the first day of each Reduced Commitment Period, and (y) increase as of the last day of each Reduced Commitment Period; in each case (x) and (y), to the extent necessary to comply with the preceding sentence.

  • For the avoidance of doubt, no Reduced Commitment of any Lender shall be increased by any subsequent increase, reaffirmation or reduction of the Borrowing Base (notwithstanding such Lender’s approval of such Borrowing Base) unless such Lender expressly consents in writing to such increased Commitment.

  • Nicholson Titxx: Xxxxxx Xxxx Xxesident MELLON BANK, N.A., as a Co-Agent and as a Bank $13,200,000.00 Reduced Commitment By: /s/Gary A.

  • Valencourt Txxxx: Xxxxxx Xxxx Xxesident SUNTRUST BANK, CENTRAL FLORIDA NATIONAL ASSOCIATION $7,333,333.32 Reduced Commitment By: /s/T.


More Definitions of Reduced Commitment

Reduced Commitment has the meaning given to such term in Section 2.25(b).
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Reduced Commitment means the principal amount of US$30,000,000, to the extent not cancelled or reduced under this Agreement;
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Related to Reduced Commitment

  • Aggregate Revolving Commitment means the aggregate amount of the Revolving Commitments of all of the 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 $150,000,000.

  • Revolving Commitment means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Aggregate Revolving Commitments means the Revolving Commitments of all the Lenders, as adjusted from time to time in accordance with the terms hereof. The initial amount of the Aggregate Revolving Commitments in effect on the Closing Date is SEVEN HUNDRED MILLION DOLLARS ($700,000,000.00).

  • Total Revolving Commitment means, at any time, the sum of the Revolving Commitments at such time.

  • 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.

  • Unutilized Commitment means, with respect to any Lender at any time, such Lender's Commitment at such time less the aggregate principal amount of all Loans made by such Lender that are outstanding at such time.

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Closing Date is $265,000,000.

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

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

  • Aggregate Revolving Committed Amount has the meaning provided in Section 2.01(a).

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 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).

  • Unused Revolving Commitment means, for any Lender at any time, the excess of (i) such Lender’s Revolving Commitment at such time over (ii) such Lender’s Revolving Facility Exposure at such time.

  • Existing Revolving Commitments has the meaning assigned to such term in Section 2.27(a).

  • Total Revolving Commitments at any time, the aggregate amount of the Revolving Commitments then in effect.

  • 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).

  • Total Term Loan Commitment means the sum of the amounts of the Lenders’ Term Loan Commitments.

  • Incremental Revolving Commitments has the meaning specified in Section 2.14(a).

  • Available Unused Commitment means, with respect to a Revolving Facility Lender under any Class of Revolving Facility Commitments at any time, an amount equal to the Dollar Equivalent of the amount by which (a) the applicable Revolving Facility Commitment of such Revolving Facility Lender at such time exceeds (b) the applicable Revolving Facility Credit Exposure of such Revolving Facility Lender at such time.

  • Unused Commitment means at any date, with respect to any Bank, an amount equal to its Commitment less the aggregate outstanding principal amount of its Loans.

  • Unused Commitments means, at any time, the difference between the Commitments then in effect and the aggregate outstanding principal amount of Loans and L/C Obligations.

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

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

  • Incremental Term Loan Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain term loans to one or more Borrowers.

  • 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.

  • 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.”