Scheduled Reduction Sample Clauses

A Scheduled Reduction clause sets out predetermined decreases in certain contractual obligations or quantities over time. Typically, this clause applies to financial commitments, delivery volumes, or service levels, specifying a schedule by which these amounts are systematically reduced at set intervals. Its core function is to provide both parties with a clear, predictable framework for the gradual scaling down of obligations, thereby facilitating planning and reducing the risk of disputes over future requirements.
Scheduled Reduction. The Revolver A Commitment shall be reduced to zero on the Conversion Date.
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Scheduled Reduction. The Commitment shall be terminated on the Maturity Date.
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Scheduled Reduction. The Commitment shall be reduced to zero on the Conversion Date.
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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
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Scheduled Reduction. The aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Termination Date.
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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.
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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.”
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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
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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) 1.15%, 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 15.01 Both parties recognize that job security should increase in proportion to length of service. Teachers shall be laid-off in reverse order of seniority in accordance with the following priority: a. Firstly, term contract teachers; b. Secondly, probationary contract teachers, in reverse order of seniority; c. Permanent contract teachers, in reverse order of seniority; Provided the retained more senior teacher has, in the judgement of the Board, the appropriate qualifications and experience for the work to be assigned. 15.02 When it is necessary to invoke staff reduction, the Board shall first give priority, to the extent it considers practical, to natural attrition, including encouragement of full year unpaid leaves of absence. a. Staff reductions shall not be invoked to release teachers liable to dismissal for cause. b. Teachers directly affected by staff reduction policy shall be informed by the Board as soon as a final decision is made. c. The Board shall provide an appropriate letter of reference for any laid-off teacher whose contract is not renewed because of staff reduction. d. The Board shall maintain a Re-employment List of all laid-off teachers formerly employed in the system who remain unemployed because of staff reduction. It shall be the duty of the teacher to advise the Board of all changes in address. Failure to do so shall constitute a waiver on the part of the teacher for the opportunity to be recalled, during the time the address is inaccurate. e. A teacher on the Re-employment List shall notify the Board on or before February 1st that she/he wishes to remain on said List. Upon failure to do so, the name of such teacher shall be automatically removed from the List. f. Upon the Board being satisfied that a teacher on the Re- employment List is employed as a teacher on a full year contract with another school board in a vacant position, the name of such teacher shall be automatically removed from the List.

  • 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. three (3) Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $500,000 or any whole multiple of $500,000 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. Notwithstanding anything herein to the contrary, the Borrower may rescind any notice of termination of Aggregate Revolving Commitments under this Section 2.06 if such termination would have resulted from the refinancing of all or a portion of the Loans, which refinancing shall not be consummated or shall otherwise be delayed.