Reductions in Availability Sample Clauses

Reductions in Availability. 13 3.8 Fees.......................................................................................14 3.9

Reductions in Availability. Notwithstanding the principal amount set forth above, the maximum principal amount available under this Note shall be reduced automatically and without further notice on the date each mandatory prepayment is due under the terms of Section 1.4 the Credit Agreement by the amount of such mandatory prepayment. The maximum principal amount available under this Note shall not be reduced solely by reason of prepayments required under the terms of Section 1.7 of the Credit Agreement. If the outstanding principal balance of this Note on any such date is greater than the new maximum principal amount then available hereunder, Borrower shall make a principal reduction on this Note on such date in an amount sufficient to reduce the then outstanding principal balance hereof to an amount not greater than said new maximum principal amount.

Reductions in Availability. Notwithstanding the principal amount set forth above, the maximum principal amount available under this Note shall be reduced automatically and without further notice on the last day of each calendar quarter, commencing September 30, 2002, by the amount of One Hundred Seventy-Five Thousand Dollars ($175,000.00). If the outstanding principal balance of this Note on any such date is greater than the new maximum principal amount then available hereunder, Borrower shall make a principal reduction on this Note on such date in an amount sufficient to reduce the then outstanding principal balance hereof to an amount not greater than said new maximum principal amount.

Reductions in Availability. Notwithstanding the principal amount set forth in Section 2.1(a) above, the maximum principal amount available under the Revolving Line of Credit shall be reduced automatically and without further notice from and after June 30, 2008 by the amount of Three Million Dollars ($3,000,000.00). If the outstanding principal balance of the Revolving Line of Credit on such date is greater than the new maximum principal amount then available hereunder, Borrower shall make a principal reduction on the Revolving Line of Credit on such date in an amount sufficient to reduce the then outstanding principal balance thereof to an amount not greater than such new maximum principal amount.

Reductions in Availability. The principal amount available under the Line of Credit may be permanently reduced, in whole or in part, at the written request of Borrower and Co-Borrower (an "Optional Reduction"), PROVIDED that the principal amount then outstanding under the Line of Credit Note shall be equal to or less than the amount available under the Line of Credit as so reduced.

Reductions in Availability. Notwithstanding the principal amount set forth above, the maximum principal amount available under this Note shall be reduced automatically and without further notice on each October 1 and each April 1, commencing October 1, 2000, by the amount of Two Hundred Fifty Thousand Dollars ($250,000.00), resulting in maximum principal availability hereunder of $2,750,000 on October 1, 2000; $2,500,000 on April 1, 2001; $2,250,000 on October 1, 2001; and $2,000,000 on April 1, 2002, minus in each case the aggregate amount of reductions to the Line of Credit pursuant to paragraph (c) below. If the outstanding principal balance of this Note on any such date is greater than the new maximum principal amount then available hereunder, Borrower shall make a principal reduction on this Note on such date in an amount sufficient to reduce the then outstanding principal balance hereof to an amount not greater than said new maximum principal amount. If on any October 1 or April 1 the maximum principal amount then available hereunder equals or exceeds the outstanding principal balance of this Note, then Borrower shall not be required to repay principal outstanding under this Note solely by reason of the reduction in availability that occurs on such date.