Effect of Reductions Sample Clauses

Effect of Reductions. Simultaneously with each voluntary permanent reduction, the Borrower shall make a payment of the outstanding Revolving Credit Loans equal to the excess, if any, of (A) the aggregate principal amount of the outstanding Revolving Credit Loans and the Stated Amount of any Letters of Credit over (B) the Revolving Credit Loan Commitments, as so reduced. Notice of a reduction, once given, shall be irrevocable. All such reductions shall be without penalty or premium.
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Effect of Reductions. After each such reduction, the Commitment Fee shall be calculated upon the Revolving Credit Commitments of the Banks as so reduced, and the amount of the reduction of the Revolving Credit Commitments may not be reinstated.
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Effect of Reductions. The portion of the Revolving Credit Commitment so terminated pursuant to the preceding item (ii) shall no longer be available for borrowing and, as of the effective date of any such reduction, the Commitment Fee shall no longer be payable on the portion so terminated. Simultaneously with each voluntary permanent reduction, the Borrower shall make a payment of the outstanding Revolving Credit Loans equal to the excess, if any, of (A) the aggregate principal amount of the Outstanding Revolving Credit Amount over (B) the Revolving Credit Commitment, as so reduced. Notice of a reduction, once given, shall be irrevocable. All such reductions shall be without penalty or premium (except for amounts owing pursuant to Section 2.2g, if any).
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Effect of Reductions. After each such reduction, the Facility Fee and the Usage Fee shall be calculated upon the Revolving Credit Commitments of the Banks as so reduced, and the amount of the reduction of the Revolving Credit Commitments may not be reinstated.
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Effect of Reductions. Any unscheduled reduction of the Revolving Credit Amount pursuant to clause (b) of Section 2.1.3 or pursuant to Section 2.1.4 shall reduce the Credit Reduction Amounts for subsequent Credit Reduction Dates as follows: 25% of such reduction shall reduce the Credit Reduction Amounts for subsequent Credit Reduction Dates in the order of their occurrence; and 75% of such reduction shall reduce the Credit Reduction Amounts for subsequent Credit Reduction Dates in the inverse order of their occurrence. Any unscheduled reduction of the Revolving Credit Amount pursuant to clause (c) of Section 2.1.3 shall reduce the Credit Reduction Amount for each subsequent Credit Reduction Date by $5,000 for each business location sold pursuant to the proviso in Section 5.12(b).
Sample 1
Effect of Reductions. After each such reduction of the maximum amount of credit available for Loans and Letters of Credit under Section 2.1 and 2.9 and corresponding dollar-for-dollar reduction of the Revolving Credit Commitments, the Commitment Fee shall be calculated upon the Revolving Credit Commitments of the Banks as so reduced, and the amount of the reduction of the maximum amount of credit available for Loans and Letters of Credit under Section 2.1 and 2.9 and the Revolving Credit Commitments shall not be reinstated.
Sample 1
Effect of Reductions. In the event the Borrowers exercise their option to reduce the Lenders' Commitment in accordance with subsection (a) hereof, such reduction shall be allocated in the following order:
Sample 1
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Effect of Reductions. The portion of the Commitments so terminated pursuant to subsection 2.9(b) shall no longer be available for borrowing or the issuance of Letters of Credit and, as of the effective date of any such reduction, any Revolving Credit Commitment Fee shall no longer be payable on the portion so terminated. Simultaneously with each voluntary permanent reduction of the Revolving Credit Commitment, the Borrower shall make a payment on the outstanding Revolving Credit Loans equal to the excess, if any, of the aggregate principal amount of the outstanding Revolving Credit Loans and the face amount of Revolving Credit Letters of Credit outstanding at such time over the Revolving Credit Commitment, as so reduced. Notice of a reduction, once given, shall be irrevocable. Except as otherwise provided in subsection 2.9(b), all such reductions shall be without penalty or premium (except for amounts owing pursuant to Section 2.14, if any).
Sample 1
Effect of Reductions. Simultaneously with each voluntary permanent reduction of the Committed Revolving Line, Borrower shall make a payment of the outstanding Advances equal to the excess, if any, of (A) the aggregate principal amount of the outstanding Advances and the face amount of any outstanding and undrawn Letters of Credit which are not cash collateralized over (B) the maximum principal amount of the Committed Revolving Line, as so reduced. Notice of a reduction, once given, shall be irrevocable. All such reductions shall be without penalty or premium.
Sample 1

Related to Effect of Reductions

  • Effect of Redemption If the Board of Directors elects or is deemed to have elected to redeem the Rights, (i) the right to exercise the Rights will thereupon, without further action and without notice, terminate and the only right thereafter of the holders of Rights shall be to receive the Redemption Price, and (ii) subject to Subsection 5.1(f) no further Rights shall be issued.

  • Effect of Notice of Redemption Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price. A notice of redemption may not be conditional.

  • Effect of Review Interconnected Transmission Owner's and Transmission Provider’s reviews of Interconnection Customer's initial drawings of the Customer Interconnection Facilities shall not be construed as confirming, endorsing or providing a warranty as to the fitness, safety, durability or reliability of such facilities or the design thereof. At its sole cost and expense, Interconnection Customer shall make such changes to the design of the Customer Interconnection Facilities as may reasonably be required by Transmission Provider, in consultation with the Interconnected Transmission Owner, to ensure that the Customer Interconnection Facilities meet Applicable Standards and, to the extent that design of the Customer Interconnection Facilities is included in the Facilities Study, to ensure that such facilities conform with the Facilities Study.

  • Effect of Restatement This Agreement shall, except as otherwise expressly set forth herein, supersede the First Restated Credit Agreement from and after the Second Restatement Date with respect to the transactions hereunder and with respect to the Loans and Letters of Credit outstanding under the First Restated Credit Agreement as of the Second Restatement Date. The parties hereto acknowledge and agree, however, that (a) this Agreement and all other Loan Documents executed and delivered herewith do not constitute a novation, payment and reborrowing or termination of the Obligations under the First Restated Credit Agreement and the other Loan Documents as in effect prior to the Second Restatement Date, (b) such Obligations are in all respects continuing with only the terms being modified as provided in this Agreement and the other Loan Documents, (c) the liens and security interests in favor of the Agent for the benefit of the Secured Parties securing payment of such Obligations are in all respects continuing and in full force and effect with respect to all Obligations and (d) all references in the other Loan Documents to the Credit Agreement shall be deemed to refer without further amendment to this Agreement.

  • Method and Effect of Redemption (a) If the Issuer elects to redeem Notes, it must notify the Trustee of the Redemption Date and the principal amount of Notes to be redeemed by delivering an Officer’s Certificate at least 60 days before the Redemption Date (unless a shorter period is satisfactory to the Trustee). If fewer than all of the Notes are being redeemed, the Officer’s Certificate must also specify a record date not less than 15 days after the date the notice of redemption is given to the Trustee, and the Trustee will select the Notes to be redeemed (x) if the Notes are listed on any national securities exchange, in compliance with the requirements of the principal national securities exchange on which the Notes are listed, (y) on a pro rata basis to the extent practicable or (z) by lot or such other method the Trustee deems fair and appropriate (and in accordance with any applicable procedures of DTC). No Notes of $2,000 or less can be redeemed in part. The Trustee will notify the Issuer promptly of the Notes or portions of Notes to be called for redemption. Notice of redemption must be sent by the Issuer or at the Issuer’s request, by the Trustee in the name and at the expense of the Issuer, to Holders whose Notes are to be redeemed at least 30 days but not more than 60 days before the Redemption Date by first-class mail to the registered address of such Holders or otherwise given in accordance with the procedures of DTC, except that redemption notices may be mailed or given in accordance with the procedures of DTC more than 60 days prior to a Redemption Date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture in accordance with Article 8. Any notice of any redemption may be given prior to the redemption thereof, and any such redemption or notice may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of an Equity Offering or other corporate transaction.

  • Effect of the Plan This Award is subject to all of the provisions of the Plan and this Agreement, together with all of the rules and determinations from time to time issued by the Committee and/or the Board pursuant to the Plan, including the restrictions in the Plan on the transferability of awards. In the event of a conflict between any provision of the Plan and this Agreement, the provisions of this Agreement shall control but only to the extent such conflict is permitted under the Plan. By accepting this Award, the Participant acknowledges that he or she has received a copy of the Plan and agrees that the Participant will enter into such written representations, warranties and agreements and execute such documents as the Company may reasonably request in order to comply with applicable securities and other applicable laws, rules or regulations, or with this document or the terms of the Plan.

  • Effect of Absence Where any leave of absence without pay exceeds thirty (30) continuous calendar days, the following shall apply:

  • Effect of Agreement Nothing herein contained shall be deemed to require to the Trust to take any action contrary to its Declaration of Trust or its By-Laws or any applicable law, regulation or order to which it is subject or by which it is bound, or to relieve or deprive the Trustees of the Trust of their responsibility for and control of the conduct of the business and affairs of the Trust.

  • Effect of Withdrawal The Company shall not be dissolved by the dissolution or other event of withdrawal of a Member if any Member remains to carry on the business of the Company.

  • Limitation on Claims No claim seeking an adjustment in the billing for any service, transaction, or charge under this Agreement, including any of the appendices, schedules or attachments to this Agreement, may be asserted with respect to a week or month, if more than one year has elapsed

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