Mandatory Reductions definition

Mandatory Reductions shall have the meaning set forth in Section 2.2(a) hereof.
Sample 1
Mandatory Reductions means, collectively, the aggregate of any and all reductions in the Total General Revolving Commitment effective after the effectiveness of the Fifth Amendment to this Agreement (a) pursuant to clause (i) of the first sentence of section 4.2(b) of this Agreement by reference to any mandatory prepayment of Loans made pursuant to section 5.2(d) of this Agreement and (b) pursuant to clause (ii) of the first sentence of section 4.2(b) of this Agreement by reference to Excess Cash Flow for the Parent's fiscal year ending December 31, 2003.
Sample 1
Mandatory Reductions means (a) payments on the Notes required under Section 9.12 of each Note Purchase Agreement (as in effect after giving effect to the Fourth Amendments thereto dated as of September 18, 2009) and (b) payments on the Advances required under Sections 2.3(b) and (e) of the 2008 Credit Agreement (as in effect after giving effect to the Third Amendment thereto dated as of September 18, 2009) or, if greater, the amount of commitment reductions required under Sections 2.3(b) and (e) of the 2008 Credit Agreement, as applicable.
Sample 1

Examples of Mandatory Reductions in a sentence

  • LOANS AND LETTERS OF CREDIT 25 2.1 Loans-General 25 2.2 Base Rate Loans 26 2.3 LIBOR Loans 26 2.4 Letters of Credit 27 2.5 Mandatory Reductions of the Term Commitment 29 2.6 Voluntary Reduction of the Revolving Commitment 29 2.7 Optional Increases to the Commitments 30 2.8 Administrative Agent’s Right to Assume Funds Available for Advances 31 2.9 Collateral 32 ARTICLE 3.

  • Mandatory Reductions in Commitment 33 ARTICLE IIILetters of Credit 3.1. Letters of Credit 33 3.2. Reimbursement.

  • Reductions in Aggregate Commitment; Mandatory Reductions in Aggregate Commitment; Mandatory Prepayments...................................................

  • Such prepayment shall be applied pro rata among all remaining Mandatory Reductions.

  • Mandatory Reductions in Commitments under the 364-Day Facility ----------------------- will be reduced, and loans thereunder Commitments: prepaid, from time to time by an amount ----------- equal to (a) 100% of the net cash proceeds of certain non-ordinary-course asset sales or other dispositions of assets by the Borrower and its subsidiaries and (b) 100% of the net cash proceeds of certain issuances of debt or equity securities of the Borrower and its subsidiaries.

  • Mandatory Reductions of ----------------------------------------------------------- Commitments.

  • Mandatory Reductions of the Total Revolving Credit Commitment............................27 Section 2.08.

  • The first sentence of Section 2.4(a) [Mandatory Reductions] of the Credit Agreement is hereby deleted and the following is inserted in lieu thereof: The Revolving Credit Commitment shall be permanently reduced on July 1, 2000 to $67,500,000, on October 1, 2000 to $62,500,000 and on the date of the closing of the Raleigh Purchase Agreement (as defined herein) to $52,500,000, and each Bank's Revolving Credit Commitment shall be reduced in accordance with its Ratable Share on such dates.

  • Mandatory Reductions in Commitments under the Facility will be Commitments: permanently reduced, and loans thereunder prepaid, by an amount equal to 100% of the net cash proceeds of (a) all non-ordinary course asset sales, (b) the issuance of additional debt and (c) 75% of the issuance of equity securities, in each case subject to exceptions (including, in the case of certain asset sales, reinvestment provisions) to be agreed upon.

  • Mandatory Reductions of Commitments and Prepayment of Loans 32 SECTION 2.12.

Related to Mandatory Reductions

  • Mandatory Retirement means termination of employment pursuant to the Company’s mandatory retirement policy.

  • Mandatory Redemption means a redemption of ETP Securities in accordance with Condition 8.7.

  • Mandatory Redemption Date means, in respect of a Mandatory Redemption Event, the date designated as such in accordance with Condition 8.7.

  • Salary Reduction means the amount by which the Participant's Compensation is reduced and applied by the Employer under this Plan to pay for one or more of the Benefits, as permitted for the applicable Component, before any applicable state and/or federal taxes have been deducted from the Participant's Compensation (i.e., on a pre-tax basis).

  • Mandatory Redemption Amount means an amount per ETP Security calculated by the Determination Agent equal to the greater of:

  • Mandatory Redemption Price means $25,000 per share of AMPS plus an amount equal to accumulated but unpaid dividends (whether or not earned or declared) to the date fixed for redemption and excluding Additional Dividends.

  • Salary Reduction Agreement means an agreement between a dis- trict and an employee to reduce the employee’s salary for the pur- pose of making direct contributions to or purchases of a qualified investment product. Art. 6228a-5, Sec. 4(5), Tex. Rev. Civ. Stat.

  • Mandatory Redemption Event has the meaning given to it in Condition 8.7.

  • Special Mandatory Redemption Date has the meaning set forth in Section 3.02(b) hereto.

  • Special Mandatory Redemption has the meaning set forth in Section 3.07.

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • Special Mandatory Redemption Price means 100% of the principal amount of the Notes plus accrued and unpaid interest on the principal amount of the Notes to, but not including, the Special Redemption Date.

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

  • Grandfathered Amounts means, if applicable, the amounts that were deferred under the Plan and were earned and vested within the meaning of Section 409A of the Code and regulations thereunder as of December 31, 2004. Grandfathered Amounts shall be subject to the terms designated in the Adoption Agreement.

  • Mandatory Requirements means those requirements described herein, which shall be fully satisfied in order for any Proposal to be considered by the City as a qualified Proposal.

  • Mandatory Policies means the following of our business policies and codes:

  • Special Mandatory Redemption Event has the meaning specified in Section 3.02(a) hereto.

  • Mandatory Costs means the percentage rate per annum calculated in accordance with Schedule 1.01(b).

  • Special Termination Advance means an Advance made pursuant to Section 2.02(g).

  • Mandatory Tender Date means any date on which a Multi-Modal Bond is subject to mandatory tender in accordance with the Certificate.