Additional Reduction definition

Additional Reduction means the sum of (i) fifty percent (50%) of the proceeds of Borrower's "Pre-Petition Delinquent Accounts" (defined as Borrower's pre-petition date accounts receivable that are ninety days or more past invoice date as of April 10, 1998), plus (ii) sixty-five percent (65%) of the amount by which the Value of Borrower's ineligible inventory is less than $1,000,000.00. Notwithstanding anything in the Loan Agreement, fifty percent (50%) of the proceeds of the collection of Pre-Petition Delinquent Accounts shall be applied to the reduction of the Permitted Out-of-Formula Advance at the Bank's discretion. The Additional Reduction shall apply upon the occurrence of either: (a) August 31, 1998, or (b) the aggregate collection by Borrower of Borrower's Pre-Petition Delinquent Accounts in excess of $12,000.00 during the period July 31, 1998 through August 28, 1998. Any additional availability under the Line in excess of that set forth in the Budget may not be used by the Borrower for any cash disbursements other than the cash disbursements as set forth in the Budget, until the Bank and Borrower have agreed to a further reduction in the Permitted Out-of-Formula Advances beyond those set forth above.
Sample 1
Additional Reduction means the sum of (i) fifty percent (50%) of the proceeds of Borrower's pre-petition date accounts receivable that are ninety days or more past invoice date as of April 10, 1998, plus (ii) sixty-five percent (65%) of the amount by which the Value of Borrower's ineligible inventory is less than $1,000,000.00. Notwithstanding anything in the Loan Agreement, fifty percent (50%) of the proceeds of the collection of pre-petition date accounts receivable that are ninety days or more past invoice date as of April 10, 1998 shall be applied to the reduction of the Permitted Out-of-Formula Advance at the Bank's discretion.
Sample 1

Examples of Additional Reduction in a sentence

  • It will be open for the Bank to entrust the job to any one tailoring firm entirely or partly.

  • In chronic stable coronary heart disease (CHD), 3 ma- jor secondary prevention trials were identified: TNT (Treat to New Targets), IDEAL (Incremental Decrease in End Points Through Aggressive Lipid Lowering), and SEARCH (Study of the Effectiveness of Additional Reduction in Cholesterol and Homocysteine).

  • This, notwithstanding the fact that in the Tampa Electric agreement, OPC agreed as follows: “The way the dollar amounts for the Initial Reduction, Additional Reduction and the Reduced Recoverable Amounts were developed will not have any precedential value.” (emphasis added).

  • Priority for effecting New Service/ Additional/ Reduction of load would be considered on payment of necessary Estimate and other applicable charges by the consumer.

  • The Potential Offset Amount will be reduced by each dollar applied to reduce the Additional Reduction, until it is fully reduced to zero.The Potential Offset Amount is not a Company obligation but instead is a component used in the calculation of the Variable Performance Fee.

  • More importantly, 2010 Required Additional Reduction in % of Target have changed considerably for certain countries, although the overall assessment of EU25 commitment as a group countries did not change much (from 3.95% to 2.8% over the commitment).

  • The parties agree that if Borrower receives any portion of the Additional Reduction Amount prior to any of the “Effective Dates” set forth in subsections (1) and (2) above, the corresponding “Reduced Loan Amounts” set forth in such subsections shall be further reduced by the aggregate Additional Reduction Amount received on or before such Effective Date.

  • Additional Reduction in Standards - The Planning Commission, subject to City Council approval, may authorize greater reduction in the dimensional standards as detailed under B, above, provided: (1) Said reductions are necessary to achieve an innovative PUD design which is determined to be in the interest of the adjoining residents and the City as a whole.

  • Figure 5 Figure 6 Figure 7: Additional Reduction EffortsResponsA variety of other nutrient reduction efforts were also identified by the states [fig.

  • Additional Reduction requests will require a separate application form and list of courses.

Related to Additional Reduction

  • extended reduction means a reduction under this scheme for which a person is eligible under Part 12 (extended reductions);

  • Additional Compensation has the meaning given to it in Section 10.2;

  • Aggregate Reduction has the meaning specified in Section 1.3.

  • Potential Change in Control Period shall commence upon the occurrence of a Potential Change in Control and shall lapse upon the occurrence of a Change in Control or, if earlier (i) with respect to a Potential Change in Control occurring pursuant to Section 18.15(A), immediately upon the abandonment or termination of the applicable agreement, (ii) with respect to a Potential Change in Control occurring pursuant to Section 18.15(B), immediately upon a public announcement by the applicable party that such party has abandoned its intention to take or consider taking actions which if consummated would result in a Change in Control or (iii) with respect to a Potential Change in Control occurring pursuant to Section 18.15(C) or (D), upon the one year anniversary of the occurrence of a Potential Change in Control (or such earlier date as may be determined by the Board).

  • Salary Reduction means the amount by which the Participant's Compensation is reduced and applied by the Employer under this Plan to pay for one or more of the Benefits, as permitted for the applicable Component, before any applicable state and/or federal taxes have been deducted from the Participant's Compensation (i.e., on a pre-tax basis).

  • Reduction means measures designed to reduce or eliminate human exposure to lead-based paint hazards through methods including interim controls and abatement.

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Appraisal Reduction Event With respect to any Serviced Loan, the earliest of (i) the date on which such Serviced Loan becomes a Modified Asset, (ii) the date on which such Serviced Loan is 60 days or more delinquent in respect of any Monthly Payment, which does not include a Balloon Payment, (iii) solely in the case of a delinquent Balloon Payment, (A) the date occurring 60 days after the date on which such Balloon Payment was due (except as described in the immediately following clause (B)) or (B) if the related Mortgagor has delivered to the Master Servicer (who shall promptly deliver a copy thereof to the Special Servicer) or the Special Servicer (who shall promptly deliver a copy thereof to the Master Servicer) a refinancing commitment acceptable to the Special Servicer prior to the date 60 days after the Balloon Payment was due, the date occurring 120 days after the date on which the Balloon Payment was due (or such shorter period beyond the date on which that Balloon Payment was due during which the refinancing is scheduled to occur), (iv) the date on which the related Mortgaged Property has become an REO Property, (v) a receiver or similar official is appointed and continues for 60 days in such capacity in respect of the related Mortgaged Property, (vi) 60 days after the related Mortgagor is subject to a bankruptcy, insolvency or similar proceedings, which, in the case of an involuntary bankruptcy, insolvency or similar proceeding, is not dismissed within those 60 days, or (vii) the date on which such Serviced Loan remains outstanding five (5) years following any extension of its maturity date pursuant to Section 3.24 of this Agreement. If an Appraisal Reduction Event occurs with respect to any Serviced Mortgage Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Companion Loan(s). If an Appraisal Reduction Event occurs with respect to any Serviced Companion Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Mortgage Loan and any other Serviced Companion Loan(s) included as part of that Serviced Loan Combination. No Appraisal Reduction Event may occur at any time when the aggregate Certificate Balance of all Classes of Principal Balance Certificates (other than the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates) has been reduced to zero. The Special Servicer shall notify the Master Servicer and the Master Servicer shall notify the Special Servicer, as applicable, promptly upon the occurrence of any of the foregoing events.

  • Appraisal Reduction Amount shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Termination Base Salary means that amount equal to Executive’s annual base salary with the Company at the rate in effect immediately prior to the Change of Control or, if a greater amount, Executive’s annual base salary at the rate in effect at any time thereafter.

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.

  • Increase Amount is defined in Section 2.3(a).

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Monthly salary means the gross amount paid to a participant making a claim under s. 40.65, at the time he or she becomes disabled within the meaning of s. 40.65 (4), by the employer in whose employ the injury occurred or the disease was contracted. Overtime pay may not be considered part of an employee’s monthly salary unless the employee received it on a regular and dependable basis.

  • Base Pay means Executive’s annual base salary rate as in effect from time to time.

  • Potential Change in Control means the occurrence of any of the following events:

  • Salary as defined in Section 3.1(a).

  • Basic Compensation means Salary and Benefits.

  • Salary reduction plan means a benefit plan whereby state and

  • Special compensation means payment to an adult foster care facility to ensure the provision of a specialized program in addition to the basic payment for adult foster care. Special compensation does not include payment received directly from the Medicaid program for personal care services for a resident, or payment received under the supplemental security income program.

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Annual increase means, initially, fifty-nine cents per month

  • Final compensation of a member means:

  • reduction week means a period of seven consecutive days beginning with a Monday and ending with a Sunday;

  • Reverse Termination Fee has the meaning set forth in Section 7.02(b).