Examples of Commitment Decrease in a sentence
The Total Commitment Amount shall remain reduced pursuant to this subpart (i) during the Seasonal Commitment Decrease Period unless and until increased pursuant to subpart (ii) below.
On such date the Maximum Amount for each Bank shall be decreased to the amount set forth opposite such Bank's name under the column headed "Maximum Amount during Seasonal Commitment Decrease Period." On the date of each such reduction, Borrowers shall have prepaid an aggregate amount of Loans, together with interest and facility and other fees accrued and unpaid thereon, so that the Revolving Credit Exposure shall not exceed the Total Commitment Amount as then in effect.
On the first day of each Seasonal Commitment Decrease Period, without notice of any kind to Borrowers, the Total Commitment Amount shall automatically be reduced to the Seasonal Reduced Commitment Amount.
So long as no Default or Event of Default shall exist or immediately thereafter shall begin to exist, on the first day after the last day of each Seasonal Commitment Decrease Period, the Total Commitment Amount shall automatically be increased to the Maximum Commitment Amount.
On such date the Maximum Amount for each Bank shall be increase to the amount set forth opposite such Bank's name under the column headed "Maximum Amount other than during any Seasonal Commitment Decrease Period." The Total Commitment Amount shall remain increased pursuant to this subpart (ii) until decreased pursuant to subpart (i) above.
Each such notice shall set forth the amount of the requested Commitment Increase (and Commitment Decrease, as applicable) in each Tranche, and the date on which such adjustment is requested to become effective (which shall be not less than 10 Business Days or more than 30 days after the date of such notice).
In accordance with the terms of this Section, the Revolving Commitment Decrease Notice must specify the amount of the proposed decrease and the date upon which the decrease is requested to be effective.
The Borrower may from time to time permanently reduce, in whole or in part, the Commitment and the Tranche FX Commitment, the Tranche L Commitment and/or the Tranche S Commitment then in effect by submitting a Commitment Decrease Request setting forth the proposed Commitment and the proposed Tranche FX Commitment, Tranche L Commitment and/or Tranche S Commitment.
Xxxx Its Director Commitment: $62,500,000 Temporary Commitment: $5,000,000 Commitment Percentage prior to Commitment Decrease Date: 33.75% Commitment Percentage after Commitment Decrease Date: 32.89474% Notice Address: BankBoston, N.A. 000 Xxxxxxx Xxxxxx Xxxxxx, XX 00000 Attn: Real Estate Department With a copy to: BankBoston, N.A. 000 Xxxxxxxxx Xxxxxx Xxxxx, X.X. Xxxxx 000 Xxxxxxx, XX 00000 Attn: Xxxx X.
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