Mandatory Reductions of Commitments. (a) The Total Commitment (and the Commitment of each Bank) shall terminate in its entirety at 5:00 p.m. (New York time) on the Expiration Date unless the Initial Borrowing Date has occurred on or before such date.
Mandatory Reductions of Commitments. The Commitment of each Lender shall be reduced automatically to zero ($0) on the Maturity Date applicable to such Lender.
Mandatory Reductions of Commitments. (a) On the forty-fifth (45th) day following the end of each Fiscal Quarter ending on each of the dates specified below, the Commitments shall be permanently reduced by an amount equal to seventy-five percent (75%) of the amount by which EBITDA for such Fiscal Quarter exceeds the EBITDA amount specified below for such Fiscal Quarter: Fiscal Quarter EBITDA -------------- ------ June 30, 2002 $ 3,700,000 September 30, 2002 4,300,000 December 31, 2002 4,200,000 March 31, 2003 3,600,000
Mandatory Reductions of Commitments. (a) The Total Revolving Loan Commitment (and the Revolving Loan Commitment of each Bank) shall terminate in its entirety at 9:00 a.m. (New York time) on the Conversion Date (after giving effect to the conversion of outstanding Revolving Loans into Term Loans at such time).
Mandatory Reductions of Commitments. (a) The Commitments shall be automatically and permanently reduced as follows:
Mandatory Reductions of Commitments. 55 (a) Reduction of Revolving Commitment.....................................................55 (b) Reduction of Term Commitments.........................................................55 (c) Proportionate Reductions..............................................................55 (d) Reduction of Commitments..............................................................55 (e) Reductions Following Term Loan Repayments. ..........................................55 4.3
Mandatory Reductions of Commitments. 15 SECTION 4. Payments.........................................................16
Mandatory Reductions of Commitments. On each date that a prepayment is made pursuant to section 2.5(d), (f), (g), (h) or (i), the RC/TL Commitments shall be automatically and permanently reduced in an amount equal to the amount of the required prepayment of the RC/TL Loans.
Mandatory Reductions of Commitments. The Commitments shall also be ratably reduced (a) by an amount equal to all Cash Equity Contributions made by the Members pursuant to the Make-Well Agreement effective as of the date of the making thereof, (b) by an amount equal to 100% of the Net Cash Proceeds from Dispositions made after the Completion Date, effective on the third Business Day following the receipt by Borrower of such Net Cash Proceeds, and (c) unless the Make-Well Agreement has then been released in accordance with its terms, by an amount equal to 75% of Excess Cash Flow with respect to any Fiscal Year ending after the Completion Date and ending after December 31, 2001, effective on the 120th day after the end of such Fiscal Year. Any reduction of the Commitments under this Section 2.7 shall be applied to Reduction Amounts in inverse order of the related Reduction Dates.
Mandatory Reductions of Commitments. The Commitments shall be permanently reduced on each Scheduled Commitment Reduction Date set forth below by the correlative amount shown below:
