Monthly Reduction definition

Monthly Reduction means the Initial Monthly Reduction and at any time after the first Redetermination after the Effective Date, an amount equal to the amount determined in accordance with Section 3.04, as the same may be adjusted from time to time pursuant to such Section.
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Monthly Reduction has the meaning set forth in Section 2.08(b).
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Monthly Reduction means at any time an amount equal to the amount of the automatic monthly reduction to the Borrowing Base determined in accordance with Section 2.08(i).
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Examples of Monthly Reduction in a sentence

  • The Borrowing Base and Monthly Reduction Amount as so adjusted shall remain in effect until the next periodic redetermination of the Borrowing Base and Monthly Reduction Amount under Section 2.10(b) of the Credit Agreement, unless otherwise adjusted pursuant to the other provisions of Section 2.10 of the Credit Agreement.

  • The foregoing redetermination of the Borrowing Base and Monthly Reduction Amount is a periodic redetermination of the Borrowing Base and Monthly Reduction Amount under Section 2.10(b) of the Credit Agreement.

  • CIE is in the business of manufacturing and processing biodiesel from feedstock at its biodiesel processing facility located at Newton, Iowa (the “Facility”).

  • So long as any of the Commitments are in effect or any LC Exposure or Loans are outstanding hereunder, this facility shall be governed by the then effective Borrowing Base and Monthly Reduction Amount.

  • Lenders’ determination of the Monthly Reduction Amount shall be made in accordance with the standards specified in Section 4.01 hereof and the procedures specified in Section 4.04 hereof.

  • For the avoidance of doubt, in no event will the aggregate amount of the Monthly Reduction Amounts for any calendar year exceed $25,000,000.

  • The determination whether to increase or decrease the Borrowing Base and the Monthly Reduction Amount shall then be made in accordance with the standards set forth in Section 4.01 hereof and the procedures set forth in Section 4.04 hereof.

  • This process shall be repeated until the Required Lenders (or all Lenders, in the event of a proposed increase of the Borrowing Base or decrease of the Monthly Reduction Amount) agree on a new Borrowing Base and Monthly Reduction Amount.

  • At the end of such fifteen (15) day period, if Required Lenders (or all Lenders, in the event of a proposed increase of the Borrowing Base or decrease of the Monthly Reduction Amount) shall not have communicated their approval or disapproval, such silence shall be deemed an approval, and Agent’s proposal shall be the new Borrowing Base and Monthly Reduction Amount.

  • After having received notice of such proposal from Agent, Required Lenders (or all Lenders in the event of a proposed increase in the Borrowing Base or decrease in the Monthly Reduction Amount) shall have fifteen (15) days to agree or disagree with such proposal.


More Definitions of Monthly Reduction

Monthly Reduction has the meaning assigned to such term in Section 3.05.
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