First Commitment Reduction Date definition
First Commitment Reduction Date means June 30, 1998.
First Commitment Reduction Date and "Second Commitment Reduction Date" set forth therein.
First Commitment Reduction Date means the earlier of (a) ten (10) Business Days after the Amendment Closing Date or (b) the date on which the Borrower receives proceeds from the cancellation of the Insurance Policies.
Examples of First Commitment Reduction Date in a sentence
The Obligations shall be secured by a Security Agreement in the form of Exhibit E, duly executed by Borrower (the "Borrower Security Agreement"); provided, however, that if during any fiscal quarter after the First Commitment Reduction Date, Borrower maintains a Leverage Ratio of less than 0.65/1.00, the security interests of Agent and the Bank Parties created pursuant to the Borrower Security Agreement shall be released and discharged and shall not be reinstated.