Reduction Condition definition

Reduction Condition means no Event of Default shall have occurred and be continuing under this Lease.

Reduction Condition shall have the meaning given to such term in Annex A to the Guaranty.

Reduction Condition means that Borrower has made a payment (or series of payments) to Lender that has reduced the aggregate principal balance of the Forsyth Loan and the Gwinnett Loan to $9,252,000.00 or less.

Examples of Reduction Condition in a sentence

• The rate of reduction per kind of fee/charge shall be: Condition for Exemption or Reduction Condition for Exemption LF LFor Reduction upto 4 t above 4 t The reductions under item 5.

• The Issuer will give notice of the occurrence of (i) a Carbon Intensity Event or (ii) satisfaction of the Carbon Intensity Reduction Condition, as the case may be, to the Trustee and the Principal Paying Agent and, in accordance with Condition 17 (Notices), the Noteholders as soon as reasonably practicable after such occurrence and no later than the Carbon Intensity Event Notification Deadline.

• The City and the Chapter agree not to discriminate against any employee covered by this Agreement in a manner which would violate federal or state laws on the basis of race, sex, creed, religion, color, marital status, sexual orientation, age, national origin, disability and union activities or non-union activities.

• If such willful intent is proven, the owner of the famous mark shall also be en- titled to the remedies set forth in sections 35(a) and 36, subject to the discretion of the court and the principles of equity.

• The Capital Reduction Condition will be regarded as having been fulfilled upon the filing of the court order approving the Capital Reduction with the Accounting and Corporate Regulatory Authority of Singapore (“ACRA”) and the transfer on the same day of the legal title to the ordinary shares in the capital of Taiwan HoldCo (“Taiwan HoldCo Shares”) to all Shareholders who have not elected for the Cash Election (as defined below).

More Definitions of Reduction Condition

Reduction Condition shall have the meaning set forth in Section 28.08 hereof.

Reduction Condition means the Issuer achieving a net operating cashflow of at least Ringgit Malaysia Thirty Five Million (RM35,000,000.00) in the relevant financial year as confirmed by the Issuer’s external auditor based on the audited financial statements of the Issuer for the relevant financial year.

Reduction Condition shall have the meaning ascribed to such term in the Amended Xxxxxx Credit Agreement.

Reduction Condition means that Tenant has achieved positive earnings before interest, taxes, depreciation and amortization (“EBITDA”) of at least $25,000,000.00, as determined in accordance with generally accepted accounting practices, for each of the immediately preceding four (4) consecutive trailing quarters. Landlord agrees to authorize such reduction in writing to the issuer of the L-C. With respect to the decreases to the L-C Amount as set forth herein, Landlord shall return the original L-C deposited hereunder to Tenant within two (2) business days following Tenant’s delivery of a new or amended L-C for the L-C Amount. If Tenant is in monetary default of this Lease or fails to satisfy the Reduction Condition as of a Reduction Date, but Tenant subsequently cures the monetary default or satisfies the Reduction Condition (as applicable), then any reductions that were suspended will re-commence as of the date of the cure (provided that no such reductions shall be permitted in the event this Lease is terminated early as a result of such monetary default) or the date Tenant delivers evidence to Landlord demonstrating that Tenant satisfies the L-C Reduction Condition (as applicable).

Reduction Condition means that, for two (2) consecutive calendar years on or after 2019, Tenant’s Financial Statement for each such year reports Net Cash Used in Operating Activities that is in excess of $1.00.

Reduction Condition means that (x) Tenant is not then in Default hereunder, (y) Tenant has not previously failed to timely cure any Default hereunder and (z) Tenant has positive EBITDA during the immediately preceding four (4) consecutive calendar quarters (the “Required Positive EBITDA”), as evidenced by Tenant’s financial statements, which Tenant will furnish to Landlord. Such financial statements of Tenant shall be deemed accepted by Landlord as evidencing the Required Positive EBITDA, unless Landlord objects thereto within ten (10) business days after receipt thereof from Tenant. In the event Landlord objects to Tenant’s financial statements within such ten (10) business day period and the parties are unable to resolve, within thirty (30) days thereafter, whether or not Tenant has the Required Positive EBITDA, Landlord and Tenant shall refer the matter to a mutually agreed independent certified public accountant whose determination on the matter shall be final and binding on the parties. The cost of such certified public accountant shall be borne equally by Landlord and Tenant. The term “EBIDTA” as used herein means earnings before interest, taxes, depreciation and amortization.

Reduction Condition means that there is no monetary or material non-monetary Event of Default by Tenant then in existence and there has not been any monetary or material non-monetary Event of Default by Tenant at any time within the twenty-four (24) months immediately preceding the Reduction Review Date. The provisions of this Section 7 shall apply to Assignee (and any successor or assign of Assignee) but shall not apply to Original Tenant.