Voluntary Permanent Reduction definition

Voluntary Permanent Reduction shall have the meaning set forth in Section 2.01(c).
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Examples of Voluntary Permanent Reduction in a sentence

  • 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.

  • Papaevangelou G, Roumeliotou-Karayannis A, Kallinikos G, Papoutsakis G.

  • See Exhibit 1 for an example of the CCC-505 Voluntary Permanent Reduction Tool Screen.

  • If the outstanding principal balance of the Loan and the Maximum Revolving Loan Commitment are reduced to $15,000,000.00 or less on or prior to April 1, 1999, regardless of whether such reduction is a Mandatory Permanent Reduction or a Voluntary Permanent Reduction, and if the Borrower is not otherwise in default under the Loan Agreement or the Documents, fifty percent (50%) of the Fee shall be refunded to Borrower.

  • The Maximum Permitted Balance shall immediately be reduced by a Voluntary Permanent Reduction in the amount of such appraisal.

  • The Borrowers shall immediately make a Voluntary Permanent Reduction in the amount of such appraisal.

  • The Maximum Revolving Loan Commitment shall also be permanently reduced to an amount not to exceed $15,000,000.00 upon a Voluntary Permanent Reduction (as defined herein) by Borrower pursuant to Section 12.

  • Upon receipt by Bank of Borrower's written notice of a Voluntary Permanent Reduction, the Maximum Revolving Loan Commitment shall be permanently reduced to an amount not to exceed $15,000,000.00.

  • REPAYMENT, PREPAYMENT AND REDUCTION 47 5.1. Repayment 47 5.2. Optional Prepayment 47 5.3. Mandatory Prepayments 47 5.4. Voluntary Permanent Reduction of the Committed Amount of the Credit Facility 48 5.5. Reduction of Commitment 48 SECTION 6.

Related to Voluntary Permanent Reduction

  • Aggregate Reduction has the meaning specified in Section 1.3.

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

  • 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.

  • 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.

  • 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.

  • Voluntary Withdrawal means a Member’s dissociation with the Company by means other than by a Transfer or an Involuntary Withdrawal.

  • 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.

  • Reduction in Force means abolition of positions in an agency or part of an agency and the corresponding nondisciplinary removal of affected employees from such positions through separation from employment or through displacement to other positions.

  • Voluntary Prepayment means a prepayment of principal of Term Loans pursuant to Section 2.05(a) in any year to the extent that such prepayment reduces the scheduled installments of principal due in respect of Term Loans as set forth in Section 2.07 in any subsequent year.

  • 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.

  • 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;

  • Involuntary Withdrawal means, with respect to any Member, the occurrence of any of the following events:

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

  • 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.

  • Potential Change in Control Period shall commence upon the occurrence of a Potential Change in Control and shall lapse upon the occurrence of a Change in Control or, if earlier (i) with respect to a Potential Change in Control occurring pursuant to Section 16.20(A), immediately upon the abandonment or termination of the applicable agreement, (ii) with respect to a Potential Change in Control occurring pursuant to Section 16.20(B), immediately upon a public announcement by the applicable party that such party has abandoned its intention to take or consider taking actions which if consummated would result in a Change in Control, or (iii) with respect to a Potential Change in Control occurring pursuant to Section 16.20(C) or (D), upon the one year anniversary of the occurrence of a Potential Change in Control (or such earlier date as may be determined by the Board).

  • Permanent Disablement means a disability falling under one of the items of disablement listed in the scale of compensation in this Policy under Section 1, which was caused by an Accident, as long as the disability lasts for twelve (12) consecutive months from the date of the Accident and at the expiry of that period our appointed Registered Medical Practitioner confirms that the disability is not going to improve after twelve (12) months.

  • Voluntary Termination means termination by the Employee of the Employee's employment with the Company, excluding termination by reason of Employee's death or disability as described in Sections 2.5 and 2.6.