Reduction of the Facility. On each date specified in Column 1 below (each such date being a "Reduction Date") the Total Commitments shall be reduced such that they are equal to the amount set opposite such Reduction Date in Column 2 below less the aggregate amount of the Commitments that have been previously cancelled under this Agreement prior to that Reduction Date otherwise than solely as a result of the operation of this Clause 11.1 or Clause 7, whereupon the Revolving Commitment of each Bank (including, for the avoidance of doubt, the Revolving Commitment of each Ancillary Bank and without double counting a Bank's Ancillary Commitment) shall be reduced by a proportionate amount and pro rata to their respective Revolving Commitments at such time and the Standby L/C Commitments of the Banks shall be reduced by a proportionate amount pro rata and the Company shall procure that the aggregate Deutschmark Amount of all outstanding Advances, Standby L/Cs, Ancillary Facilities and amounts owing under Clause 11.3 (if any) shall on such date (and at all times thereafter) not exceed the Total Commitments on such date.
Reduction of the Facility. Cascades may, on giving not less than ten Business Days prior notice to the Administrative Agent, permanently reduce the aggregate amount of the Facility by amounts of not less than $5,000,000. Any such reduction will result in a corresponding reduction of each of Tranche A, Tranche B and Tranche C, on a pro rata basis (such reduction to also apply on a pro rata basis as to each Lender). The notice of reduction must specify the amount of the reduction, and the Business Day when the reduction will be become effective. On such date, the Borrowers must make repayments in amounts sufficient for the outstanding Borrowings under any Tranche not to exceed the new amount of such Tranche.
Reduction of the Facility. The Borrower may, on giving not less than ten Business Days prior notice to the Agent, permanently reduce the amount of the Facility by amounts of not less than $1,000,000 and which are multiples of $100,000. The notice of reduction must specify the amount of the reduction, and the Business Day when the reduction will be become effective.
Reduction of the Facility. (a) Norampac may, on giving not less than ten Business Days prior notice to the Agent, reduce the amount of the Facility by amounts of not less than $5,000,000. The notice of reduction must specify the amount of the reduction, and the Business Day when the reduction will be become effective.
Reduction of the Facility. (a) The Total Commitments shall be reduced in instalments by an amount equal to twenty million dollars ($20,000,000) on each Reduction Date.
Reduction of the Facility. Cascades may, on giving not less than ten Business Days prior notice to the Agent, permanently reduce the aggregate amount of the Facility by amounts of not less than $5,000,000. Any such reduction will result in a corresponding reduction of each of Tranche A, Tranche B and Tranche C, on a pro rata basis. The notice of reduction must specify the amount of the reduction, and the Business Day when the reduction will be become effective. On such date, the Borrowers must make repayments in amounts sufficient for the outstanding Borrowings under any Tranche not to exceed the new amount of such Tranche.
