Specified Reduction definition

Specified Reduction means, for any Quarter, an amount established by the General Partner with respect to such Quarter; provided, that if no such amount is established by the General Partner with respect to such Quarter, then the amount shall be $20,000,000 for such Quarter; provided, further, that if such amount exceeds the amount that would otherwise be distributable to holders of the Incentive Distribution Rights with respect to such Quarter (before giving effect to any reduction in Section 6.4(c)(i)), then the Specified Reduction shall be the amount otherwise distributable to the holders of the Incentive Distribution Rights with respect to such Quarter (before giving effect to any reduction in Section 6.4(c)(i)); provided, further, that the aggregate Specified Reductions shall not exceed $100,000,000 in any fiscal year.

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Specified Reduction means, for any Quarter, an amount established by the General Partner with respect to such Quarter; provided, that if no such amount is

Examples of Specified Reduction in a sentence

• Upon any such prepayment, the Total Commitment shall be automatically and permanently reduced in an amount equal to (x) if such Reduction Event is an Asset Disposition, 100% of any Core Asset Sale Proceeds of such Reduction Event or (y) if such Reduction Event is a Specified Reduction Event, 100% of the Net Proceeds of such Reduction Event.

• On or prior to the JPM Termination Date, the Borrowers may terminate and reduce (such transaction, the “Specified Reduction”) all of the outstanding Loans and Commitments held by JPM as of the Third Amendment Effective Date, less any amounts assigned, sold or otherwise transferred by JPM to any other Person on or prior to the date of such Specified Reduction pursuant to Section 11.06 of the Credit Agreement.

• Each of the Lenders party hereto, constituting all of the Lenders under the Credit Agreement, hereby agrees and consents to (x) the JPM Termination Date (including the termination of the Commitments of JPM and the repayment of all Loans owed to JPM on such date) and (y) the Specified Reduction, in each case, as set forth in this Section 5.