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 Commitment shall be terminated on the Maturity Date.
Scheduled Reduction. The Revolver A Commitment shall be reduced to zero on the Conversion Date.
Scheduled Reduction. The Commitment shall be reduced to zero on the Conversion Date.
Scheduled Reduction. The aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Termination Date.
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
Scheduled Reduction. If, on the Scheduled Reduction Date, the Principal Obligation exceeds the Maximum Commitment (determined after giving effect to the scheduled reduction of the Maximum Commitment occurring on the Scheduled Reduction Date), then the applicable Borrower Party shall pay such excess to the Administrative Agent, for the benefit of the Lenders, in immediately available funds on the Scheduled Reduction Date.
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.”
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
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.