Required Reduction definition

Required Reduction shall have the meaning set forth in Section 4(a).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Required Reduction means (a) the sum of (i) eighty percent (80%) of the amount by which the Borrower's ineligible receivables is less than $1,380,000.00, plus (ii) sixty-five percent (65%) of the amount by which the Value of Borrower's ineligible inventory is less than $1,337,000.00, less (b) $100,000.00.

Required Reduction means a reduction in Consumption of:

Examples of Required Reduction in a sentence

• In each case, the amounts of the Payments shall be reduced in the inverse order of their originally scheduled dates of payment or vesting, as applicable, and shall be so reduced only to the extent necessary to achieve the Required Reduction.

• Any Required Reduction shall be calculated based on the Pro Forma Reduction Calculation attached hereto as Exhibit L.

• The Total Asset Value of any Portfolio Investment used for the purpose of making the calculation of the Required Reduction under this Section 3.2(g) shall be based on the most recent Appraised Asset Values of the Portfolio Assets associated with such Portfolio Investment.

• Year Required Reduction over Baseline In June 2015, Architecture 2030 endorsed a prescriptive path developed by New Building Institute named the Advanced Buildings® New Construction Guide.

• In each case, the amounts described in clauses first, second and third of the preceding sentence, (x) shall be reduced only to the extent of the portion thereof, if any, that is treated as contingent on the Change in Control under the regulations issued under Code section 280G, (y) shall be reduced in the inverse order of their originally scheduled dates of payments or vesting, as applicable, and (z) shall be so reduced only to the extent necessary to achieve the Required Reduction.

• As long as the Overadvance Amount is greater than zero, with respect to each Asset Sale, the Required Reduction Amount will each be applied to immediately reduce the Overadvance Amount (and henceforth availability) as herein provided and to the extent that after reducing such Overadvance Amount outstanding extensions of credit exceed the Borrowing Base, mandatory prepayment of the Revolving Facility shall be required.

• The Borrower shall make prepayments under the Term Loan in the amount of any Required Reduction Amounts, which prepayments are to be applied to any principal amounts due under the Term Loan in inverse order of maturity.

• Section 3.1. Standstill Provision...........................................10 Section 3.2. Required Reduction of Ownership Percentage...................

• For the purposes of this Section the Required Reduction Amount is equal to the result of the following formula: Required Reduction Amount = (X / Y) * Z Where: X = the amount of the reduction or cancellation hereunder Y = the Maximum Available Amount Z = the Maximum Available Amount (as defined in the Hudbay ARCA).

• If there are no amounts due under the Term Loan, or if the Required Reduction Amount exceeds the amount due under the Term Loan, there shall be a reduction in the amount outstanding under the Line of Credit and the amount of the Line of Credit Commitment in the amount of the Required Reduction Amount or any excess amount, as the case may be.

More Definitions of Required Reduction

Required Reduction means a reduction applied to a qualifying amount payable by a QFDC in accordance with regulation 58 of the NI EBRS Regulations;

Required Reduction shall have the meaning set forth in Section 3.2(g). Reserve Percentage shall have the meaning set forth within the definition of LIBOR Rate.

Required Reduction means the sum of (i) fifty percent (50%) of the proceeds of Borrower's pre- petition date accounts receivable that are ninety days or more past invoice date as of April 10, 1998, plus (ii) sixty-five percent (65%) of the amount by which the Value of Borrower's ineligible inventory is less than $1,000,000.00. Notwithstanding anything in the Loan Agreement, fifty percent (50%) of the proceeds of the collection of pre-petition date accounts receivable that are ninety days or more past invoice date as of April 10, 1998 shall be applied to the reduction of the Permitted Out-of-Formula Advance at the Bank's discretion.

Required Reduction has the meaning specified in Section 2.09(c).

Required Reduction shall have the meaning set forth in Section 3.2(g). Reserve Percentage shall have the meaning set forth within the definition of LIBOR Rate. Security Documents shall mean, collectively, the Pledge Agreement and the related UCC-1 Financing Statements.