Mandatory Reduction Sample Clauses

Mandatory Reduction. At the close of business on the Termination Date, the aggregate Commitments shall be automatically and permanently reduced, on a pro rata basis, by an amount equal to the amount by which the aggregate Commitments immediately prior to giving effect to such reduction exceed the aggregate unpaid principal amount of the Committed Advances then outstanding.
AutoNDA by SimpleDocs
Mandatory Reduction. The Commitments hereunder shall terminate on the Termination Date.
Mandatory Reduction. The Revolving Commitment, the LOC Commitment and the Swingline Commitment shall automatically terminate on the Maturity Date.
Mandatory Reduction. On the Maturity Date, the Commitment shall automatically reduce to zero.
Mandatory Reduction. The Revolving Credit Commitment shall be permanently reduced on the date of the required prepayment under Section 4.4(b)(vii) by an amount equal to the amount of such Excess Proceeds, to the extent a corresponding prepayment was made pursuant to 4.4(b)(iii).
Mandatory Reduction. The Revolving Credit Commitment shall be permanently reduced by the amount of Revolving Credit Advances required to be prepaid pursuant to Section 2.5(b)(ii) hereof. On the Revolving Credit Commitment Maturity Date, the Revolving Credit Commitment shall be automatically reduced to zero.
Mandatory Reduction. The Revolving Credit Commitment shall be automatically reduced to zero on the Maturity Date.
AutoNDA by SimpleDocs
Mandatory Reduction. The Commitments shall terminate automatically on the Revolving Maturity Date.
Mandatory Reduction. If at any time proceeds ("Excess Proceeds") remain after the prepayment of Term Loans pursuant to Section 4.4(b)(i), (ii), (iii) or (iv), the Revolving Credit Commitment shall be permanently reduced on the date of the required prepayment under Section 4.4(b) by an amount equal to the amount of such Excess Proceeds.
Mandatory Reduction illegality If it becomes unlawful in any applicable jurisdiction for the Lender to perform any of its obligations as contemplated by this Agreement or to maintain the Loan:
Time is Money Join Law Insider Premium to draft better contracts faster.