Annual Clean-Up Period Sample Clauses

Annual Clean-Up Period. Notwithstanding anything to the contrary, on an annual basis and in no event later than thirty (30) days prior to the Maturity Date, Borrower shall make one or more payments in amounts sufficient to reduce the outstanding principal balance under the New Note to $0.00 and maintain such balance for a period of not less than thirty (30) consecutive days (the “Annual Clean-Up Period”). Borrower acknowledges and aggress that no proceeds of the Revised LOC shall be available during the Annual Clean-Up Period.
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Annual Clean-Up Period. The outstanding principal balance of the Committed Revolving Line shall be reduced on an annual basis to zero dollars ($0.00), for thirty (30) or more consecutive days.
Annual Clean-Up Period. For a clean-up period of 30 consecutive days in each Fiscal Year the aggregate amount of the Revolving Credit Loans outstanding shall be reduced to zero, and the Company shall prepay to the Agent for the accounts of the Lenders the aggregate outstanding balance of all Revolving Credit Loans, together with all accrued but unpaid interest on such balance through the Business Day immediately preceding the date of commencement of such clean-up period, and all other fees, costs and amounts (if any) payable under this Agreement or the Revolving Credit Note in connection with such prepayment on such Business Day.
Annual Clean-Up Period. Notwithstanding anything to the contrary in this Agreement, Borrower agrees that for a period of thirty (30) consecutive days during the twelve (12) month period ending on each anniversary date of the Note, Borrower shall have paid to Lender all amounts outstanding under the Note and there shall be no balances or amounts outstanding under the Note or the revolving line of credit evidenced thereby.
Annual Clean-Up Period. Borrower agrees that there shall be one thirty day period during each calendar year in which there shall be no Loans outstanding hereunder, other than for Obligations, if any, 8 relating to the Term Loans, Letters of Credit and Foreign Exchange Contracts. BORROWER: PAIRGAIN TECHNOLOGIES, INC. BY /s/ CHARXXX X. XXXXXXX ------------------------------ PRESIDENT OR VICE PRESIDENT BY /s/ CHARXXX X. XxXXXXXX ------------------------------ SECRETARY OR ASS'T SECRETARY SILICON: SILICON VALLEY BANK BY /s/ JERRX X. XXXX ------------------------------ TITLE Vice President ---------------------------
Annual Clean-Up Period. Borrower agrees that during the term of October 6, 1995 through October 5, 1996 there shall be a 30 day period within which no Obligations shall be outstanding other than with respect to any possible Letters of Credit that may be outstanding.

Related to Annual Clean-Up Period

  • Clean-Up Period (a) Notwithstanding any other provision of any Finance Document:

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) each of its fiscal years to end on December 31 of each year and (ii) its fiscal quarters to end on March 31, June 30, September 30 and December 31, respectively, of each year.

  • Planning Period  Middle and High School teachers shall have one normal instructional period each day as preparation time or a cumulative plan time each week that would be equal to 160 minutes per four

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

  • HSR Waiting Period If applicable, the waiting period under the HSR Act applicable to the consummation of the transactions contemplated hereby shall have expired or been terminated without any adverse condition attached thereto.

  • Distribution Compliance Period The Purchaser agrees not to resell, pledge or transfer any Purchased Shares within the United States or to any U.S. Person, as each of those terms is defined in Regulation S, during the 40 days following the Closing Date.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • Evaluation Period Customer’s right to use the Services on a Trial Basis are time-limited and will terminate immediately upon the earlier of (i) the trial end date as specified in an Order Form or other document executed by the parties regarding such trial, or (ii) the start date of when Customer purchases a right to use such Services on a non-Trial Basis, or (iii) the date when QuoVadis terminates Customer’s right to use the Services on a Trial Basis (which QuoVadis may do at any time in its sole discretion). Customer must cease using the Services on a Trial Basis upon any such termination.

  • PRORATION PERIOD The Tenant: (check one) ☐ - Shall take possession of the Premises before the start of the Lease Term on , 20 and agrees to pay $ for the proration period. The proration rate is calculated by the monthly Rent on a daily basis which shall be paid by the Tenant upon the execution of this Agreement. ☐ - Shall not be taking possession of the Premises before the Lease Term.

  • Lock-Up Period Participant hereby agrees that Participant shall not offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Common Stock (or other securities) of the Company or enter into any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common Stock (or other securities) of the Company held by Participant (other than those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred and eighty (180) days following the effective date of any registration statement of the Company filed under the Securities Act (or such other period as may be requested by the Company or the underwriters to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto). Participant agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the Company, Participant shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described in this Section 4 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred and eighty (180) day (or other) period. Participant agrees that any transferee of the Option or shares acquired pursuant to the Option shall be bound by this Section 4.

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