Reduction of Indebtedness. If at any time and for any reason (a) the aggregate outstanding principal amount of Advances hereunder to Borrower, plus the outstanding Letter of Credit Reserve, shall exceed the Revolving Credit Commitment, or (b) the Letter of Credit Reserve exceeds the Letter of Credit Sublimit, then, in the case of (a), Borrower shall immediately reduce any pending request for an Advance on such day by the amount of such excess and, to the extent any excess remains thereafter, immediately repay an amount of the Indebtedness equal to such excess, and, to the extent any such excess Indebtedness, attributable to any Letters of Credit, remains outstanding after prepayment of the Advances, Borrower shall provide cash collateral upon demand in an amount equal to the maximum amount that may be available to be drawn at any time prior to the stated expiry of all outstanding Letters of Credit and, in the case of (b), upon Bank’s demand, Borrower shall deposit with Bank cash collateral in an amount equal to the excess. Borrower acknowledges that, in connection with any repayment required hereunder, it shall also be responsible for the reimbursement of any prepayment or other costs required under the terms of the Revolving Credit Note.
Reduction of Indebtedness. If at any time and for any reason the aggregate outstanding principal amount of Advances hereunder to Borrower plus the Foreign Exchange Reserve, shall exceed the lesser of (i) the Revolving Credit Amount or (ii) the then applicable Borrowing Base, then Borrower shall immediately reduce any pending request for an Advance on such day by the amount of such excess and, to the extent any excess remains thereafter, immediately repay an amount of the Indebtedness equal to such excess. Borrower acknowledges that, in connection with any repayment required hereunder, it shall also be responsible for the reimbursement of any prepayment or other costs required under the terms of the Revolving Credit Note.
Reduction of Indebtedness. If at any time and for any reason the aggregate outstanding principal amount of Advances hereunder to Borrower shall exceed the then applicable Revolving Credit Commitment, Borrower shall immediately reduce any pending request for an Advance on such day by the amount of such excess and, to the extent any excess remains thereafter, immediately repay an amount of the Indebtedness equal to such excess.
Reduction of Indebtedness. If at any time and for any reason the aggregate outstanding principal amount of Advances hereunder to Borrower shall exceed the then applicable Capex Credit Commitment, Borrower shall immediately reduce any pending request for an Advance on such day by the amount of such excess and, to the extent any excess remains thereafter, immediately repay an amount of the Indebtedness equal to such excess.
Reduction of Indebtedness. (1) In re- turn for the individual’s agreement to perform hours of services totaling not more than 40 times the number of weeks in the contract, VA will reduce the eligible person’s outstanding in- debtedness by an amount equal to the higher of—
Reduction of Indebtedness. Upon the expiry of the Option, the Borrower may upon delivery of a written notice to the Lender permanently and irrevocably reduce the amount of the Loan and the amount of the Indebtedness to the amount specified in such notice.
Reduction of Indebtedness. 19 2.13 Optional Reduction or Termination of Revolving Credit Commitment . . . . . . . . . . . . . . . . . . 19 2.14 Extension of Revolving Credit Maturity Date . . . . . . . . . . 20 2.15
Reduction of Indebtedness. If at any time and for any reason the aggregate principal amount of all Advances hereunder to Company, plus the aggregate undrawn amount of any Letters of Credit which shall be outstanding at such time, exceeds the Maximum Commitment, Company shall immediately reduce any pending request for an Advance on such day by the amount of such excess and, to the extent any excess remains thereafter, immediately repay an amount of the Indebtedness equal to such excess. Company acknowledges that, in connection with any repayment required hereunder, it shall also be responsible for the reimbursement of any prepayment or other costs required under Section 3.1 hereof.
Reduction of Indebtedness. (a) On June 30, 1998, pay to Agent for distribution to the Revolving Credit Banks, pro rata based on each such Bank's Percentage of the Revolving Credit Aggregate Commitment, an amount equal to the amount by which the sum of the aggregate principal amount of Revolving Credit Advances outstanding on such date, the aggregate principal amount of Swing Line Advances outstanding on such date, the aggregate undrawn amount of any Letters of Credit outstanding on such date and the aggregate amount of all outstanding Letter of Credit Obligations on such date exceeds the Revolving Credit Aggregate Commitment as reduced automatically on such date pursuant to the terms of this Agreement.
Reduction of Indebtedness. Guarantor agrees that any Indebtedness from revolving loans will not be deemed repaid or reduced by collection and subsequent relending of the proceeds of accounts, chattel paper and similar Collateral.
