Scheduled Reduction Sample Clauses

Scheduled Reduction. The Revolver A Commitment shall be reduced to zero on the Conversion Date.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Scheduled Reduction. The Commitment shall be terminated on the Maturity Date.
Sample 1Sample 2Sample 3
Scheduled Reduction. The Commitment shall be reduced to zero on the Conversion Date.
Sample 1Sample 2
Scheduled Reduction. On each Quarterly Date, commencing on the Commitment Reduction Date, through the Maturity Date, the Commitment outstanding on the Commitment Reduction shall automatically reduce by an amount equal to the percentage reduction that the Commitment is to reduce on the Quarterly Date pursuant to the table below. Notwithstanding the foregoing, on the Maturity Date, the Commitment shall automatically reduce to zero. Quarterly Date % Reduction -------------- ------------ December 31, 1996 6.40% March 31, 1997 6.42% June 30, 1997 6.42% September 30, 1997 6.42% December 31, 1997 6.42% March 31, 1998 6.42% June 30, 1998 5.50% September 30, 1998 5.50% December 31, 1998 5.50% March 31, 1999 6.25% June 30, 1999 6.25% September 30, 1999 6.25% December 31, 1999 6.25% March 31, 2000 10.00% June 30, 2000 10.00% and any remaining balance such that the Commitment shall be zero
Sample 1
Scheduled Reduction. Repayment (a) On or prior to the close of business in New York on each of the following dates (the "Reduction Dates") (i) the Total Tranche 1 Commitments and the Total Tranche 2 Commitments shall be irrevocably reduced (and the Tranche 1 Commitments and Tranche 2 Commitments of the Banks shall be reduced rateably) by an aggregate amount such that the aggregate reduction, expressed as a percentage, of the Total Tranche 1 Commitments and the Total Tranche 2 Commitments at the date hereof (or as increased pursuant to Clause 2.6 (Increase of the Facility Amount)) is equal to or greater than the Aggregate Percentage Reduction set out below the percentage figure and (ii) the Borrowers shall ensure the Loan is repaid in an instalment equal to the amount (if any) required to ensure the Total Tranche 1 Commitments and the Total Tranche 2 Commitments shall be so reduced (the "Scheduled Reduction Repayment"). Reduction Date Aggregate Percentage (from the date of this Agreement) Reduction % 39 months 12.5 42 months 25.0 45 months 37.5 48 months 50.0 51 months 62.5 54 months 75.0 57 months 87.5 60 months 100.0
Sample 1
Scheduled Reduction. The Revolving Credit Commitment shall be automatically and permanently reduced, without premium or penalty, to (i) $190,000,000 on March 31, 2014 and (ii) $175,000,000 on October 1, 2014; provided that no such reduction to the Revolving Credit Commitment shall be required on the foregoing dates to the extent that the Revolving Credit Commitment has been already reduced to, or below, the applicable amount set forth above pursuant to Sections 2.5(a) or 2.5(e). The reductions of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage. All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination.”
Sample 1
Scheduled Reduction. On April 30, 2005, the Total Revolving Commitment shall be permanently reduced by One Million Seven Hundred Thirty-Six Thousand Dollars ($1,736,000). Such reduction (the “Scheduled Reduction”) shall be in addition to any Mandatory Reductions. The Scheduled Reduction shall also be in addition to any Optional Reduction except to the extent Borrower notifies Agent that some or all of such Optional Reduction shall be applied toward the Scheduled Reduction.
Sample 1
AutoNDA by SimpleDocs
Scheduled Reduction. The aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Termination Date.
Sample 1

Related to Scheduled Reduction

  • Fee Reduction The Adviser agrees that from the commencement of operations of the Fund through January 31, 2020, it will reduce its compensation and/or reimburse certain expenses for the Fund, to the extent necessary to ensure that the Fund’s total operating expenses, excluding taxes, “Acquired Fund” fees and expenses, dividend and interest expense on securities sold short, interest, extraordinary items, and brokerage commissions, do not exceed (on an annual basis) 0.85%, as a percentage of the Fund’s average daily net assets.

  • 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.

  • 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.

  • Scheduled Termination Unless previously terminated, the Commitments shall terminate on the Commitment Termination Date.

  • 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.

  • Mandatory Prepayments Commitment Reductions 68 2.13 Application of Prepayments/Reductions ..............................................70 2.14 Allocation of Certain Payments and Proceeds.........................................71 2.15

  • Voluntary Prepayments Commitment Reductions (a) Prior to the Stated Maturity Date, the Borrower may, from time to time on any Business Day, make a voluntary prepayment, in whole or in part, of the outstanding principal amount of the Loans; provided, however, that:

  • Scheduled Termination of Commitments Unless previously terminated, the Commitments shall terminate on the Maturity Date. If at any time the Aggregate Maximum Credit Amounts or the Borrowing Base is terminated or reduced to zero, then the Commitments shall terminate on the effective date of such termination or reduction.

  • 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.

  • 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.

Time is Money Join Law Insider Premium to draft better contracts faster.