Scheduled Reduction definition

Scheduled Reduction shall have the meaning provided in Section 2.03(d).
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Scheduled Reduction shall have the meaning provided in the Credit Agreement immediately prior to the Sixth Amendment Effective Date.
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Scheduled Reduction means the amount by which the Aggregate Commitment shall be reduced on each Reduction Date with the intent that as of the Maturity Date the Aggregate Commitment shall have been reduced to an amount no greater than Sixty Million Dollars ($60,000,000.00). The amount of each such Scheduled Reduction shall be determined by dividing by ten (10) the sum of: (i) the amount of the First Commitment Increase, plus (ii) the amount of the Second Commitment Increase, in the event the Second Increase Effective Date has occurred, plus (iii) the amount of the Greenshoe Increase, to the extent such increase to the Aggregate Commitment has become effective. "Second Commitment Increase" shall have the meaning ascribed to such term in Recital Paragraph E(i) of the First Amendment.
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Examples of Scheduled Reduction in a sentence

  • The unpaid principal amount of the Obligations with respect to Temporary Increase Loans that are outstanding on the Scheduled Reduction Date, together with all accrued but unpaid interest thereon, shall be due and payable on the Scheduled Reduction Date and the Maximum Commitment shall automatically decrease by the aggregate amount of the Temporary Increase Commitments without any further action by any party hereto.

  • At any time prior to the Scheduled Reduction Date, to the extent that (i) the Principal Obligations equal or exceed the Commitments under the Primary Tranche and (ii) the aggregate Principal Obligations do not exceed the Available Commitment and subject to the other terms and conditions set forth herein, any Loan requested by a Borrower in accordance with Section 2.3(a) shall be funded as a Temporary Increase Loan.

  • As a result of such exclusive participation in the Temporary Increase Tranche, the Principal Obligations may from time to time prior to the Scheduled Reduction Date be allocated amongst the Lenders in proportions other than their pro rata share of the aggregate Commitments.

  • Any such reduction in the Revolving Commitments shall be applied to, and serve to reduce, the Regularly Scheduled Reduction Amounts which would otherwise be required under subsection (i) hereof in the inverse order of reduction dates.

  • Commencing on May 1, 1998, and continuing thereafter on the first day of each calendar month until the earlier of the date such amount is redetermined or the Commitment Termination Date, the Scheduled Reduction Amount shall be $275,000.

  • Any such reduction in the Revolving Committed Amount shall be applied to, and serve to reduce, the Regularly Scheduled Reduction Amounts which would otherwise be required under Section 2.7(b)(ii) hereof pro rata as to such amounts.

  • On the Scheduled Reduction Date, each Bank shall surrender to Agent its Revolving Loan Notes for replacement and Borrower, at its own expense, shall execute and deliver to Agent in exchange for the surrendered Revolving Loan Notes, a new Revolving Loan Note to the order of each Bank in the amount of such Bank's Commitment after the Scheduled Reduction Date, dated the Scheduled Reduction Date and otherwise in the form of the Revolving Loan Note replaced thereby.

  • Notwithstanding anything herein contained or set forth on the Aggregate Commitment Reduction Schedule to the contrary, in the event Borrower achieves a Leverage Ratio equal to or less than 1.00 to 1.00 as of the end of any two (2) consecutive Fiscal Quarters, the Scheduled Reduction required to be made as of the next consecutive Fiscal Quarter shall be waived for that Fiscal Quarter.

  • Commencing on July 1, 1998, and continuing thereafter on the first day of each calendar month until the earlier of the date such amount is redetermined or the Commitment Termination Date, the Scheduled Reduction Amount shall be $40,000.

  • A Scheduled Reduction payment of principal in the amount of Three Hundred Seventy-Five Thousand Dollars ($375,000.00) shall be made quarterly on each Reduction Date as set forth on the Aggregate Commitment Reduction Schedule, Schedule 2.01(c) hereto, until the Maturity Date, on which date the remaining balance of the principal sum, together with all unpaid interest accrued thereon shall be fully paid.


More Definitions of Scheduled Reduction

Scheduled Reduction shall have the meaning provided in Section 3.03(c). "Section 4.04(b)(ii) Certificate" shall have the meaning provided in Section 4.04(b).
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Scheduled Reduction has the meaning given in Section 2.1(b)(i).
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Related to Scheduled Reduction

  • Scheduled Redetermination has the meaning assigned such term in Section 2.07(b).

  • Scheduled Redetermination Date means the date on which a Borrowing Base that has been redetermined pursuant to a Scheduled Redetermination becomes effective as provided in Section 2.07(d).

  • Scheduled Repayment shall have the meaning provided in Section 4.02(a).

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

  • Scheduled Amount means the Day-Ahead Schedule comprised of the quantity (in MWh) of electric energy expected to be produced by the Generating Facility that is scheduled from Seller or Seller’s Scheduling Coordinator to Buyer in a Physical Trade in the IFM.

  • Scheduled Redemption Date means the first (1st) Business Day following the twenty first (21st) anniversary of the Issue Date.

  • Scheduled Reference Date means any original date that, but for the occurrence of an event causing a Disrupted Day, would have been a Reference Date.

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

  • Scheduled Termination Date means the date that is 364 days from (and including) the Effective Date, or any succeeding date to which the term of this Agreement is extended pursuant to Section 2.03.

  • Scheduled Uptime means the total minutes in the reporting month less the total minutes represented by the Scheduled Downtime.

  • Aggregate Reduction has the meaning specified in Section 1.3.

  • Scheduled Commitment Termination Date means May 24, 2016, as such date may be extended by mutual agreement of the parties hereto (each, in their sole and absolute discretion) pursuant to Sections 2.21 and 12.01(b).

  • Scheduled Unavailability Date has the meaning specified in Section 3.03(c).

  • Interim Redetermination Date means the date on which a Borrowing Base that has been redetermined pursuant to an Interim Redetermination becomes effective as provided in Section 2.07(d).

  • Redetermination means any Scheduled Redetermination or Special Redetermination.

  • Mandatory Prepayment Date as defined in Section 2.12(e).

  • Scheduled Outage has the meaning given to it in the Grid Code;

  • Scheduled Downtime has the meaning set forth in Section 5.2.

  • Redetermination Date means, with respect to any Scheduled Redetermination or any Interim Redetermination, the date that the redetermined Borrowing Base related thereto becomes effective pursuant to Section 2.07(d).

  • Scheduled Distribution means, with respect to any Collateral Loan, for each Due Date, the scheduled payment of principal and/or interest and/or fees due on such Due Date with respect to such Collateral Loan.