Reduction Instalment definition

Reduction Instalment means each instalment for reduction of the Advances under the Revolving Facility referred to in paragraph (a) of Clause ‎7.2 (Reduction of Revolving Facility).

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Reduction Instalment means each instalment for reduction of the Loans referred to in Clause 7.2 (Reduction of the Facility).

Reduction Instalment means the aggregate amount to be repaid or cancelled on any Reduction Date;

Examples of Reduction Instalment in a sentence

In addition the Company may select an Interest Period of less than three Months, if necessary to ensure that (when aggregated with the Available Facility) there are sufficient Loans (with an aggregate Base Currency Amount equal to or greater than the Reduction Instalment) which have an Interest Period ending on the Reduction Date for the scheduled reduction to occur.
In addition, the Borrowers may select an Interest Period of a period of less than one (1) month, if necessary to ensure that there are sufficient Revolving Loans with an aggregate amount equal to or greater than the Reduction Instalment which have an Interest Period ending on a Repayment Date for the scheduled reduction to occur.
In addition, the Borrower may select an Interest Period of a period of less than one Month, if necessary to ensure that (when aggregated with the Available Facility) there are sufficient Loans (with an aggregate Principal Amount equal to or greater than the Reduction Instalment) which have an Interest Period ending on a Reduction Date for the scheduled reduction to occur.
In addition the Borrower may select an Interest Period of a period of less than one Month, if necessary to ensure that (when aggregated with the Available Facility) there are sufficient Loans (with an aggregate amount equal to or greater than the Reduction Instalment) which have an Interest Period ending on a Reduction Date for the scheduled reduction to occur.
Any Hedging Prepayment Proceeds arising as a result of any cancellation or prepayment under this Agreement shall, following payment into the Earnings Account in accordance with Clause 30.1 (Payment of Earnings), be applied on the last day of the Interest Period which ends on or after such payment in, in prepayment of the Loan and shall reduce pro rata the amount of each Reduction Instalment or Accordion Reduction Instalment (as applicable) falling after that prepayment by the amount prepaid.

More Definitions of Reduction Instalment

Reduction Instalment means the amount by which the Total Commitments are reduced in accordance with paragraph (a) of Clause 8.2 (Reduction of Facility).

Reduction Instalment means each instalment for reduction of the Total Commitments referred to in Clause 8.2 (Reduction).

Reduction Instalment means each instalment for reduction of the Overdraft Facility Commitments referred to in Clause 7.3 (Reduction of Overdraft Facility).

Reduction Instalment means each instalment for reduction of the Advances under the Revolving Facility referred to in paragraph (a) of Clause 6.4 (Reduction of the Revolving Facility). "Reference Rate" means, in relation to the Loan or any part of the Loan: (a) the applicable Term SOFR as of the Specified Time and for a period equal in length to the Interest Period of the Loan or that part of the Loan; or (b) as otherwise determined pursuant to Clause 10.1 (Unavailability of Term SOFR), and if, in either case, that rate is less than zero, the Reference Rate shall be deemed to be zero. "Related Fund" in relation to a fund (the "first fund"), means a fund which is managed or advised by the same investment manager or investment adviser as the first fund or, if it is managed by a different investment manager or investment adviser, a fund whose investment manager or investment adviser is an Affiliate of the investment manager or investment adviser of the first fund. "Relevant Jurisdiction" means, in relation to an Obligor: (a) its Original Jurisdiction; (b) any jurisdiction where any asset subject to, or intended to be subject to, any of the Transaction Security created, or intended to be created, by it is situated; (c) any jurisdiction where it conducts its business; and (d) the jurisdiction whose laws govern the perfection of any of the Security Documents entered into by it. "Relevant Market" means the market for overnight cash borrowing collateralised by US Government Securities. 24 EUROPE/75885978v8

Reduction Instalment means each instalment for reduction of the Loans referred to in Clause 6.2 (Reduction of Facility).

Reduction Instalment means each instalment for reduction of the Total Facility A Commitment referred to in Clause 6.2 (Reduction of Facility A). “Revolving Loan” means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan. “Second Deeds of Covenants” means each of the second priority deeds of covenants collateral to the Second Mortgages (save in respect of MT “Peqoud” ), entered or to be entered into between the owner of the respective Second Vessel and the Agent (on behalf of the Finance Parties and the Swap Bank), in form and substance satisfactory to the Agent (on behalf of the Finance Parties and the Swap Bank). “Second Mortgages” means each of the second priority mortgages executed or to be executed and recorded by the relevant owner against the Second Vessels in the Bahamas or Liberian Ship Registry (as the case may be) in favour of the Agent (on behalf of the Finance Parties and the Swap Bank), in form and substance satisfactory to the Agent (on behalf of the Finance Parties and the Swap Bank). “Second Vessels” means: a) MT “Pequod”, a 40,632 dwt product tanker built in 1982 with IMO number 8011304, registered in the name of Isabelle Shipholdings Corp. in the Liberian Ship Registry;

Reduction Instalment means an Accordion Reduction Instalment or a Reducing Revolving Reduction Instalment.