Examples of Scheduled Reduction Date in a sentence
The unpaid principal amount of the Obligations with respect to Temporary Increase Loans that are outstanding on the Scheduled Reduction Date, together with all accrued but unpaid interest thereon, shall be due and payable on the Scheduled Reduction Date and the Maximum Commitment shall automatically decrease by the aggregate amount of the Temporary Increase Commitments without any further action by any party hereto.
At any time prior to the Scheduled Reduction Date, to the extent that (i) the Principal Obligations equal or exceed the Commitments under the Primary Tranche and (ii) the aggregate Principal Obligations do not exceed the Available Commitment and subject to the other terms and conditions set forth herein, any Loan requested by a Borrower in accordance with Section 2.3(a) shall be funded as a Temporary Increase Loan.
As a result of such exclusive participation in the Temporary Increase Tranche, the Principal Obligations may from time to time prior to the Scheduled Reduction Date be allocated amongst the Lenders in proportions other than their pro rata share of the aggregate Commitments.
On the Scheduled Reduction Date, each Bank shall surrender to Agent its Revolving Loan Notes for replacement and Borrower, at its own expense, shall execute and deliver to Agent in exchange for the surrendered Revolving Loan Notes, a new Revolving Loan Note to the order of each Bank in the amount of such Bank's Commitment after the Scheduled Reduction Date, dated the Scheduled Reduction Date and otherwise in the form of the Revolving Loan Note replaced thereby.
Scheduled Reduction: On each Scheduled Reduction Date, the Forward Price shall be reduced by an amount equal to the Scheduled Reduction Amount for such Scheduled Reduction Date.
On each Scheduled Reduction Date, each Lender's Commitment shall be reduced by an amount equal to (i) the ratio of such Lender's Commitment to the aggregate of the Commitments on such date, multiplied by (ii) the amount by which the total Credit Facility is to be so reduced on such date.
Xxxxxxxx Title: Vice President ATTACHMENT 1 TO JOINDER AGREEMENT BANK Commitment Commitment Before On and After Scheduled Scheduled Reduction Date Reduction Date -------------- -------------- D.