Mandatory Reduction Date definition

Mandatory Reduction Date means the date on which a Mandatory Reduction Amount is paid.
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Mandatory Reduction Date has the meaning specified in Section 2.05(b).
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Mandatory Reduction Date as defined in subsection 2.4(b).
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Examples of Mandatory Reduction Date in a sentence

  • Each such reduction of the Revolving Credit Commitments shall reduce, in inverse order, the mandatory reductions required on each Mandatory Reduction Date except that any such reduction of Revolving Credit Commitments pursuant to subsection 2.9(b) shall reduce pro rata the mandatory reductions then required on each remaining Mandatory Reduction Date.

  • The amount of each Bank's Escrow Agreement Issuance Limit on and after the Mandatory Reduction Date shall be equal to the greater of (1) 50% of the amount of such Escrow Agreement Issuance Limit immediately before the Mandatory Reduction Date or (2) the amount of such Bank's obligations as the Escrow Bank under Escrow Agreements.

  • The Mandatory Reduction Date may not be extended to a date which is on or after the Expiration Date.

  • If Borrower requests an extension of the Mandatory Reduction Date or Expiration Date and such Mandatory Reduction Date or Expiration Date (before its extension) is fewer than 75 days following Borrower's request for such extension, the Facility A Banks shall be deemed to reject such request if they do not respond to such request before such Mandatory Reduction Date or Expiration Date, as the case may be.

  • If the Aggregate Facility A Credit Exposure exceeds the amount of the Facility A Commitments on the Mandatory Reduction Date (after the Facility A Commitments have been reduced on such date), Borrower shall repay Facility A Loans on the Mandatory Reduction Date in the amount of the lesser of (A) such excess or (B) the amount of Facility A Loans outstanding.

  • If Borrower requests an extension of the Mandatory Reduction Date or Expiration Date and such Mandatory Reduction Date or Expiration Date (before its extension) is fewer than 75 days following Borrower's request for such extension, the Banks shall be deemed to reject such request if they do not respond to such request before such Mandatory Reduction Date or Expiration Date, as the case may be.

  • If the Aggregate Credit Exposure exceeds the amount of the Commitments on the Mandatory Reduction Date (after the Commitments have been reduced on such date), Borrower shall repay Loans on the Mandatory Reduction Date in the amount of the lesser of (A) such excess or (B) the amount of Loans outstanding.

  • Banks make a $30,000,000 Mandatory Reduction Date Treasury Rate Term Loan to Borrower on August 1, 1995.

  • Borrower may request a one-year extension of the Mandatory Reduction Date by delivering written notice of such request to the Facility A Banks on or after Borrower delivers the annual financial statements to the Banks for the fiscal year ending October 31, 1995 or any subsequent fiscal year pursuant to Section 8.02(a)(ii), but before April 30 of the following fiscal year.

  • Any repayment of a Treasury Rate Term Loan on the Mandatory Reduction Date pursuant to the first sentence of this clause (iii) shall be subject to the Treasury Rate Term Loan Prepayment Premium.


More Definitions of Mandatory Reduction Date

Mandatory Reduction Date means the date on which a Mandatory Reduction Amount is paid. “Material Adverse Effect” shall mean a material adverse effect on (i) the financial condition or operations of (a) the Seller, (b) ▇▇▇▇▇▇▇▇ and its Subsidiaries, taken as a whole, or (c) the Parent and its Subsidiaries, taken as a whole; (ii) the ability of the Seller, ▇▇▇▇▇▇▇▇ or any other
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Mandatory Reduction Date means in relation to: (a) a Total Loss of a Ship, the applicable Total Loss Reduction Date; or (b) a sale of a Ship by the relevant Owner or (subject to release of the applicable Share Security) the sale of all or part of an Owner, the date upon which such sale is completed by the transfer of title to the purchaser in exchange for payment of all or part of the relevant purchase price. Margin means 2.00 per cent. per annum. Market Disruption Rate means the rate (if any) specified as such in the Reference Rate Terms. Material Adverse Effect means, in the reasonable opinion of the Majority Lenders, a material adverse effect on: (a) the business, operations, property, condition (financial or otherwise) or prospects of the Group taken as a whole which will, or is reasonably likely to, affect the ability of an Obligor to perform its obligations under the Finance Documents; or (b) the ability of an Obligor to perform its obligations under the Finance Documents; or (c) the validity or enforceability of, or the effectiveness or ranking of any Security Interest granted or purporting to be granted pursuant to any of, the Finance Documents or the rights or remedies of any Finance Party under any of the Finance Documents. Minimum Value means, at any time, the amount in dollars which is at that time equal to 120 per cent. of the Total Commitments.
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