Revolver Reduction Amount means for any Revolver Reduction Date, the corresponding amount for such date set forth on Schedule 2.09(a) under the heading “Total Revolving Commitment Reduction”.
Revolver Reduction Amount means a number (which may be positive or negative) equal to (a) $1.5 million minus (b) all outstanding principal amounts and accrued interest owing to Signature Bank under the Company’s revolving line of credit as of the close of business on the Closing Date.
Revolver Reduction Amount means, as to each Quarterly Payment Date set forth below, the amount opposite that Quarterly Payment Date: Quarterly Payment Dates Revolver Reduction Amount September 30, 2005 though and including June 30, 2008 $ 0 Revolver Maturity Date $ 75,000,000 provided that, in the event that the Revolving Commitment is hereafter increased in the manner contemplated by Section 2.8, then the Revolver Reduction Amount for each then remaining Quarterly Payment Date to and including June 30, 2008 shall be increased to an amount that amortizes such Increased Commitment in equal quarterly installments through and including June 30, 2008.
Examples of Revolver Reduction Amount in a sentence
These initiatives have led to highly significant investments in diversifying the tech sector and removing barriers to opportunity for Palestinians on both sides of the Green Line.
On each Quarterly Payment Date, the Revolving Commitments shall automatically be ratably reduced by the applicable Revolver Reduction Amount.
Thereafter, the Revolver Reduction Amount shall equal the quotient of (i) the Revolver Commitment at the time of such application minus the amount of such application allocated to the Revolver Loan divided by (ii) the number of Fiscal Quarters remaining until the Revolver Maturity Date.
The Revolving Commitments (and each Lender’s Pro Rata Share thereof) shall automatically and ratably be reduced on each Quarterly Payment Date by the applicable Revolver Reduction Amount.
The Total Revolver Commitment --------- -- ----- -------- ---------- shall be automatically and permanently reduced at the end of each fiscal quarter by the Revolver Reduction Amount for such fiscal quarter as more fully set forth in (S)3.2(b), whereupon the Revolver Commitments of the Banks shall be reduced pro rata in accordance with their respective Revolver Commitment Percentages of --- ---- the amount of the applicable Revolver Reduction Amount.
More Definitions of Revolver Reduction Amount
Revolver Reduction Amount means, with respect to any Quarterly Payment Date set forth in the matrix below, the amount necessary to reduce the then applicable Revolving Commitment to the level set forth below opposite that Quarterly Payment Date: Quarterly Payment Date Commitment Reduction Remaining Revolving Commitment September 30, 2004 $50,600,000 $1,300,000,000 December 31, 2004 $100,000,000 $1,200,000,000 March 31, 2005 $100,000,000 $1,100,000,000 June 30, 2005 $1,100,000,000 $0
Revolver Reduction Amount means $4,166,666.67 or such other amount as provided in Section 2.7(a).
Revolver Reduction Amount means, with respect to each increase, if any, in the aggregate Revolving Commitments pursuant to Section 2.5(f) that occurs after March 30, 2004, and with respect to each Revolving Commitment reduction date set forth in the table contained in Section 2.5(b) which is scheduled to occur after such increase (the first such Revolving Commitment reduction date being herein referred to as the “Initial Increased Commitment Reduction Date”), an amount equal to (a) the amount of such increase, multiplied by (b) a fraction (i) the numerator of which is the percentage set forth in such table adjacent to such Revolving Commitment reduction date, and (ii) the denominator of which is the sum of all of the percentages set forth in such table applicable to all Revolving Commitment reduction dates occurring on or after the Initial Increased Commitment Reduction Date.
Revolver Reduction Amount means for any Revolver Reduction Date, the corresponding amount for such date set forth on Schedule 2.09(c) under the heading “Total Commitment Reduction” as such amount may be adjusted from time to time in accordance with Section 2.10, which shall reflect at all times minimum profile reducing outstanding Commitments on a straight-line amortization sufficient to result in a reduction of the aggregate principal amount of Credit Facilities to $0 upon the Collateral Vessels having achieved an average age of 20 years.
Revolver Reduction Amount means, as to each Quarterly Payment Date, the amount set forth below opposite that Quarterly Payment Date: Quarterly Payment Dates Revolver Reduction Amount ----------------------- ------------------------- September 30, 2001 though and $0 including December 31, 2002 March 31, 2003 and June 30, 2003 $667,500 September 30, 2003 through and $1,000,000 including June 30, 2004 September 30, 2004 through and $1,332,500 including June 30, 2005 September 30, 2005 through and $2,000,000 including March 31, 2006 provided that, in the event that the Commitment is hereafter increased in the manner contemplated by Section 2.8, then the Revolver Reduction Amount for each then remaining Quarterly Payment Date shall be increased in the same proportion that (a) the Increased Commitment bears to (b) the Commitment prior to the effective date of such increase.
Revolver Reduction Amount means, with respect to any Quarterly Payment Date set forth in the matrix below, the amount necessary to reduce the then applicable Revolving Commitment to the level set forth below opposite that Quarterly Payment Date: Quarterly Payment Date Commitment Reduction Remaining Revolving Commitment September 30, 2002 $50,000,000 $1,950,000,000 Quarterly Payment Date Commitment Reduction Remaining Revolving Commitment December 31, 2002 $50,000,000 $1,900,000,000 March 31, 2003 $50,000,000 $1,850,000,000 June 30, 2003 $50,000,000 $1,800,000,000 September 30, 2003 $100,000,000 $1,700,000,000 December 31, 2003 $100,000,000 $1,600,000,000 March 31, 2004 $100,000,000 $1,500,000,000 June 30, 2004 $100,000,000 $1,400,000,000 September 30, 2004 $100,000,000 $1,300,000,000 December 31, 2004 $100,000,000 $1,200,000,000 March 31, 2005 $100,000,000 $1,100,000,000 June 30, 2005 $100,000,000 $0
Revolver Reduction Amount means, as to each Quarterly Payment Date set forth below, the amount opposite that Quarterly Payment Date: Revolver Quarterly Payment Dates Reduction Amount ----------------------- ---------------- September 30, 2005 though and including June 30, 2008 $ 4,166,667 Revolver Maturity Date $75,000,000 provided that, in the event that the Commitment is hereafter increased in the manner contemplated by Section 2.8, then the Revolver Reduction Amount for each then remaining Quarterly Payment Date shall be increased in the same proportion that (a) the Increased Commitment bears to (b) the Commitment prior to the effective date of such increase.