Scheduled Reductions. Commencing on September 30, 1999 and at the end of each calendar quarter thereafter, the Commitment as of September 29, 1999 shall be automatically and permanently reduced as set forth below (which reductions are in addition to those set forth in Sections 2.5(b), 2.5(c), 2.5(d) and 2.6 hereof): Quarterly Percentage of Reduction of Dates of Commitment Reduction Commitment as of September 29, 1999 September 30, 1999 and December 31, 1999 3.750% March 31, 2000, June 30, 2000, 3.125% September 30, 2000 and December 31, 2000 March 31, 2001, June 30, 2001, 4.375% September 30, 2001 and December 31, 2001 March 31, 2002, June 30, 2002, 5.625% September 30, 2002 and December 31, 2002 March 31, 2003, June 30, 2003, 5.625% September 30, 2003 and December 31, 2003 March 31, 2004, June 30, 2004 4.375% September 30, 2004 and Maturity Date The Borrower shall make a repayment of the Loans outstanding, together with accrued interest thereon, on or before the effective date of each reduction in the Commitment under this Section 2.5(a), such that the aggregate principal amount of the Loans outstanding at no time exceeds the Commitment as so reduced. Any remaining unpaid principal and interest under the Commitment shall be due and payable in full on the Maturity Date, and the Commitment shall thereupon terminate.
Scheduled Reductions. The Revolving Commitments shall be permanently reduced to zero on the fifth anniversary of the Closing Date
Scheduled Reductions. The Revolving Credit Commitment shall be permanently reduced on the last Business Day of each of September, December, March and June and on the Revolving Credit Termination Date, by multiplying the corresponding quarterly percentage TIMES the Revolving Credit Commitment in effect on June 30, 2004 in accordance with the following table: ------------------------------------- --------------------- ---------------- Reduction Total Quarters Ending Per Quarterly Payment Reduction ------------------------------------- --------------------- ---------------- 6/30/2004 through 9/30/2004 1.25% 2.5% 12/31/2004 through 9/30/2005 2.50% 10.0% 12/31/2005 through 9/30/2006 6.25% 25.0% 12/31/2006 through 6/30/2008 7.50% 52.5% Revolving Credit Termination Date N/A 10.0% ----- 100.0% ------------------------------------- --------------------- ---------------- Any reductions pursuant to Section 2.6(b) shall be applied PRO RATA to reduce the remaining scheduled reduction amounts required by this paragraph (a).
Scheduled Reductions. The Commitment (based upon the Commitment as of June 29, 2000) shall be reduced automatically and permanently on a semi-annual Semi-Annual Percentage of Reduction of Dates of Commitment as of Commitment Reduction June 29, 2000 -------------------- ------------------------- June 30, 2000 and December 31, 2000 1.50% June 30, 2001 and December 31, 2001 5.00% June 30, 2002 and December 31, 2002 9.00% June 30, 2003 and December 31, 2003 10.00% June 30, 2004 and December 31, 2004 12.00% June 30, 2005 25.00%
Scheduled Reductions. The combined Commitments shall be automatically and permanently reduced on July 1, 2000 by $25,000,000. The reduction of the Commitments shall be applied to each Bank according to its Pro Rata Share. The Company agrees that it will, on or before the date of such scheduled reduction, make a mandatory prepayment to the Agent in the amount necessary to reduce the sum of the Dollar Equivalent of (i) the aggregate principal amount of the outstanding Loans plus (ii) the L/C Obligations to an amount which is less than or equal to the combined Commitments after giving effect to such scheduled reduction."
Scheduled Reductions. On each Amortization Date, the Borrower shall repay such principal amount (together with accrued interest thereon) of each Bank's outstanding Working Capital Loans, if any, as may be necessary so that after such repayment such Bank's Working Capital Outstandings do not exceed the amount of such Bank's Working Capital Commitment as then reduced.
Scheduled Reductions. The Aggregate Commitment Amount shall be automatically and permanently reduced to (i) $900,000,000 on November 28, 2008, and (ii) $500,000,000 on December 31, 2008 (in each case unless reduced to or below such amounts prior to such dates as otherwise provided herein).
Scheduled Reductions. If Schedule 2.01 as in effect at any time shall indicate that the Commitments shall be reduced on any date then, unless previously terminated, the Commitments shall be reduced by the indicated amounts at 5:00 p.m. (New York City time) on such date.
Scheduled Reductions. The Total Commitment shall automatically reduce on each Amortization Date by an amount equal to the Amortization Amount unless the Final Maturity Date is extended within the three months preceding such Amortization Date in accordance with Section 2.10(c) below, in which case each Amortization Date shall be delayed by one year. The Total Commitment shall be reduced to zero on the Final Maturity Date.
Scheduled Reductions. The Maximum Amount and the Revolving Credit Maximum then in effect shall each be reduced (i) by the amount of Five Million Dollars ($5,000,000) on December 15, 1997, (ii) by the amount of Five Million, Dollars ($5,000,000) on December 22, 1997, (iii) by the amount of Six Million Dollars ($6,000,000) on December 29, 1997, and (iv) to Zero Dollars ($0) on the Revolving Credit Maturity Date.
