Further Reduction Sample Clauses

Further Reduction. If the University is unable to accomplish the necessary task by attrition, the University shall select the area(s) of reduction. The University may reassign staff members affected by the reduction to open positions provided that if the staff member is assigned to a position with a lower pay rate, the staff member's rate before assignment is maintained for nine
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Further Reduction. If the University is unable to accomplish the necessary task by attrition, the University shall select the area(s) of reduction. The University may reassign staff members affected by the reduction to open positions provided that if the staff member is assigned to a position with a lower pay rate, the staff member's rate before assignment is maintained for nine (9) months, after which they will go to the rate of the job assigned. Full-time staff members shall not be required to accept assignment to part-time positions. If no reassignment is made at the time of layoff the staff member affected may by notifying the Human Resources Office in writing within ten (10) calendar days of layoff notice choose to:
Further Reduction. The face amount of the Letter of Credit may be reduced to Two Million One Hundred Fifteen Thousand Dollars ($2,115,000) on the eighth (8th) anniversary of the Rent Commencement Date, so long as (i) Tenant is not in default under the Lease on such date, and (ii) Tenant is not in Chronic Default under this Lease on such date. In addition, the face amount of the Letter of Credit may be reduced to an amount equal to one month's Base Rent when Tenant can establish to Landlord's reasonable satisfaction that Tenant has achieved annual net income of at least Fifty Million Dollars ($50,000,000), as reflected in audited financial statements (which include an unqualified certification by a licensed certified public accountant reasonably acceptable to Landlord), for either (x) three consecutive years, or (y) three out of four consecutive years.
Further Reduction. If the University is unable to accomplish the necessary task by attrition, the University shall select the area(s) of reduction and communicate with the affected staff member(s). Non-probationary staff members will be given a minimum of 10 business days’ notice prior to reduction in force. If 10 business days’ notice cannot be given, severance pay will be provided in lieu of notice for each workday lost during the 10 business day period. Each affected staff member shall notify the Human Resources office in writing within 10 business days prior to the effective layoff date, their decision to elect one of the following:
Further Reduction. 3.1 In consideration for the Company and the Liquidators making the Early Repayment, the Funders agree to further reduce the amount of their claims against the Company and/or the Liquidator in relation to the repayment of the Funding by the amounts listed at Schedule 1 to this Deed (being the approximate inter company balances owed to the Company by various other companies within the same group, such amounts being agreed between the parties to this Deed for the purposes of the calculation in this clause) (the "INTER COMPANY ASSETS").
Further Reduction. The Indemnification Threshold shall also be reduced by any amount included in the $9.2 million that Xxxxxxxxx, Castle Holdings and their affiliates claim are owed which are determined not to be due or owing. Purchaser shall provide Sellers with prior written notice of the amount of such payment and the claim of such liability.
Further Reduction. 55 (d) Substitution of Cash Collateral. . . . . . . . . . . . . . . . . . 56
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Related to Further Reduction

  • Termination or Reduction of the Commitments (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Administrative Agent, to terminate in whole or reduce ratably in part the Available Commitments, provided that (i) each partial reduction shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) no such termination or reduction shall be made that would reduce the aggregate Commitments to an amount less than the Outstanding Credits on the date of such termination or reduction.

  • Staff Reduction In the event the District adopts a reduced educational program by reason of financial necessity, including but not limited to, levy failure and/or decreased State or Federal support, certificated employees who will be retained to implement the District’s reduced or modified program and those certificated employees who will be non-renewed from employment or adversely affected in contract status shall be identified by the provisions contained in this Article. If the District is only reducing provisional employees, the following procedures do not need to be implemented.

  • Optional Termination or Reduction of the Commitments (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof.

  • Termination or Reduction of Revolving Commitments The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

  • Termination or Reduction of Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Aggregate Commitments, and (iv) if, after giving effect to any reduction of the Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Commitments, such Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be applied to the Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination.

  • Termination or Reduction of Aggregate Revolving Commitments The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Revolving Commitments, or from time to time permanently reduce the Aggregate Revolving Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Borrower shall not terminate or reduce the Aggregate Revolving Commitments if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Aggregate Revolving Commitments and (iv) if, after giving effect to any reduction of the Aggregate Revolving Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Revolving Commitments, such sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Commitments. Any reduction of the Aggregate Revolving Commitments shall be applied to the Revolving Commitment of each Lender according to its Applicable Percentage. All fees accrued until the effective date of any termination of the Aggregate Revolving Commitments shall be paid on the effective date of such termination.

  • Termination or Reduction of Commitment Borrower may, upon notice to Lender, terminate the Commitment, or from time to time permanently reduce the Commitment; provided that (i) any such notice shall be received by Lender not later than 12:00 p.m. five (5) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $10,000 or any whole multiple of $10,000 in excess thereof, (iii) Borrower shall not terminate or reduce the Commitment if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Outstandings would exceed the Commitment, and (iv) if, after giving effect to any reduction of the Commitment or the L/C Sublimit exceeds the amount of the Commitment, the L/C Sublimit shall be automatically reduced by the amount of such excess. All fees accrued until the effective date of any termination of the Commitment shall be paid on the effective date of such termination.

  • Commitment Reductions (i) The Commitment of each Lender shall be automatically reduced to zero on the Commitment Termination Date of such Lender.

  • Optional Termination or Reduction of Commitments During the Revolving Credit Period, the Borrower may, upon at least three Domestic Business Days’ notice to the Administrative Agent (which notice the Administrative Agent will promptly deliver to the Banks), (i) terminate the Commitments at any time, if no Loans are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $10,000,000 or any larger multiple of $1,000,000, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the Loans.

  • Reduction of the Commitments The Borrower shall have the right, upon at least two Business Days' notice to the Administrative Agent, to terminate in whole or reduce ratably in part the unused portions of the respective Commitments of the Lenders; provided, that the aggregate amount of the Commitments of the Lenders shall not be reduced to an amount that is less than the aggregate principal amount of the Advances then outstanding; and provided, further, that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple thereof.

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