Changes of Commitments. (a) The aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Commitment Termination Date. In addition, the aggregate amount of the Revolving Credit Commitments shall be automatically reduced on each Revolving Credit Commitment Reduction Date set forth in column (A) below, (x) by an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (B) below opposite such Revolving Credit Commitment Reduction Date, (y) to an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (C) below opposite such Revolving Credit Commitment Reduction Date: (A) (B) (C) Revolving Credit Revolving Credit Revolving Credit Commitment Reduction Commitments Reduced Commitments Reduced Date Falling on or by the Following to the Following Nearest to: Amounts: Amounts: ---------- ------- ------- September 30, 1998 $ 100,000 $39,900,000 December 31, 1998 $ 100,000 $39,800,000 March 31, 1999 $ 700,000 $39,100,000 June 30, 1999 $ 700,000 $38,400,000 September 30, 1999 $ 700,000 $37,700,000 December 31, 1999 $ 700,000 $37,000,000 March 31, 2000 $1,000,000 $36,000,000 June 30, 2000 $ 1,000,000 $35,000,000 Credit Agreement ---------------- - 40 - September 30, 2000 $1,000,000 $34,000,000 December 31, 2000 $1,000,000 $33,000,000 March 31, 2001 $1,300,000 $31,700,000 June 30, 2001 $ 1,300,000 $30,400,000 September 30, 2001 $1,300,000 $29,100,000 December 31, 2001 $1,300,000 $27,800,000 March 31, 2002 $1,500,000 $26,300,000 June 30, 2002 $ 1,500,000 $24,800,000 September 30, 2002 $1,500,000 $23,300,000 December 31, 2002 $1,500,000 $21,800,000 March 31, 2003 $1,700,000 $20,100,000 June 30, 2003 $ 1,700,000 $18,400,000 September 30, 2003 $1,700,000 $16,700,000 December 31, 2003 $1,700,000 $15,000,000 March 31, 2004 $2,000,000 $13,000,000 June 30, 2004 $2,000,000 $11,000,000 September 30, 2004 $2,000,000 $ 9,000,000 December 31, 2004 $2,000,000 $ 7,000,000 March 31, 2005 $2,333,333 $ 4,666,667 June 30, 2005 $2,333,333 $ 2,333,334 September 30, 2005 $2,333,334 $ 0
Appears in 2 contracts
Sources: Credit Agreement (Mediacom Capital Corp), Credit Agreement (Mediacom LLC)
Changes of Commitments. (a) The Subject to the last sentence of this Section 2.04(a), the aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Commitment Termination Date. In addition, the aggregate amount of the Revolving Credit Commitments shall be automatically reduced on each Revolving Credit Commitment Reduction Date set forth in column (A) below, (x) by an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (B) below opposite such Revolving Credit Commitment Reduction Date, (y) to an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (C) below opposite such Revolving Credit Commitment Reduction Date: :
(A) (B) (C) Revolving Credit Revolving Credit Revolving Credit Commitment Reduction Commitments Reduced Commitments Reduced Date Falling on or by the Following to the Following Nearest to: Amounts: Amounts: ---------- ------- ------- -------- -------- September 30, 1998 $ 100,000 $39,900,000 December 31, 1998 $ 100,000 $39,800,000 March 31, 1999 $ 700,000 $39,100,000 June 30, 1999 $ 700,000 $38,400,000 September 30, 1999 $ 700,000 $37,700,000 December 31, 1999 $ 700,000 $37,000,000 March 31, 2000 $1,000,000 $36,000,000 June 30, 2000 $ 1,000,000 $35,000,000 Credit Agreement ---------------- - 40 - September 30, 2000 $1,000,000 $34,000,000 December 31, 2000 $1,000,000 $33,000,000 March 31, 2001 $1,300,000 $31,700,000 June 30, 2001 $ 1,300,000 $30,400,000 September 30, 2001 $1,300,000 $29,100,000 December 31, 2001 $1,300,000 $27,800,000 March 31, 2002 $1,500,000 $26,300,000 June 30, 2002 $ 1,500,000 5,625,000 $24,800,000 September 30, 2002 $1,500,000 $23,300,000 444,375,000 December 31, 2002 $ 5,625,000 $1,500,000 $21,800,000 438,750,000 March 31, 2003 $ 5,625,000 $1,700,000 $20,100,000 433,125,000 June 30, 2003 $ 1,700,000 5,625,000 $18,400,000 427,500,000 September 30, 2003 $ 5,625,000 $1,700,000 $16,700,000 421,875,000 December 31, 2003 $ 5,625,000 $1,700,000 $15,000,000 416,250,000 March 31, 2004 $2,000,000 16,875,000 $13,000,000 399,375,000 June 30, 2004 $2,000,000 16,875,000 $11,000,000 382,500,000 September 30, 2004 $2,000,000 $ 9,000,000 16,875,000 $365,625,000 December 31, 2004 $2,000,000 $ 7,000,000 16,875,000 $348,750,000 March 31, 2005 $2,333,333 $ 4,666,667 22,500,000 $326,250,000 June 30, 2005 $2,333,333 $ 2,333,334 22,500,000 $303,750,000 September 30, 2005 $2,333,334 22,500,000 $281,250,000 December 31, 2005 $22,500,000 $258,750,000 March 31, 2006 $22,500,000 $236,250,000 June 30, 2006 $22,500,000 $213,750,000 September 30, 2006 $22,500,000 $191,250,000 December 31, 2006 $22,500,000 $168,750,000 March 31, 2007 $22,500,000 $146,250,000 June 30, 2007 $22,500,000 $123,750,000 September 30, 2007 $22,500,000 $101,250,000 December 31, 2007 $22,500,000 $ 078,750,000 March 31, 2008 $78,750,000 $ 0 As provided for in the definition of "Revolving Credit Commitment Termination Date" in Section 1.01, if Mediacom does not refinance its 1998 Senior Notes prior to March 31, 2007, with new Indebtedness having a maturity no earlier than two years after the payment of all amounts due under this Agreement and on terms satisfactory to the Administrative Agent and the Majority Lenders, the Revolving Credit Commitments shall be terminated, and the entire principal amount of the Revolving Credit Loans then outstanding shall, as provided for in
Appears in 1 contract
Changes of Commitments. (a) The Subject to the last sentence of this Section 2.04(a), the aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Commitment Termination Date. In addition, the aggregate amount of the Revolving Credit Commitments shall be automatically reduced on each Revolving Credit Commitment Reduction Date set forth in column (A) below, (x) by an amount (subject to reduction pursuant to Credit Agreement ---------------- -39- paragraph (c) below) equal to the amount set forth in column (B) below opposite such Revolving Credit Commitment Reduction Date, (y) to an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (C) below opposite such Revolving Credit Commitment Reduction Date: :
(A) (B) (C) Revolving Credit Revolving Credit Revolving Credit Commitment Reduction Commitments Reduced Commitments Reduced Date Falling on or by the Following to the Following Nearest to: Amounts: Amounts: ---------- ------- ------- September 30, 1998 $ 100,000 $39,900,000 December 31, 1998 $ 100,000 $39,800,000 March 31, 1999 $ 700,000 $39,100,000 June 30, 1999 $ 700,000 $38,400,000 September 30, 1999 $ 700,000 $37,700,000 December 31, 1999 $ 700,000 $37,000,000 March 31, 2000 $1,000,000 $36,000,000 June 30, 2000 $ 1,000,000 $35,000,000 Credit Agreement ---------------- - 40 - September 30, 2000 $1,000,000 $34,000,000 December 31, 2000 $1,000,000 $33,000,000 March 31, 2001 $1,300,000 $31,700,000 June 30, 2001 $ 1,300,000 $30,400,000 September 30, 2001 $1,300,000 $29,100,000 December 31, 2001 $1,300,000 $27,800,000 March 31, 2002 $1,500,000 $26,300,000 June 30, 2002 $ 1,500,000 $24,800,000 ----------- -------- -------- September 30, 2002 $1,500,000 $23,300,000 5,625,000 444,375,000 December 31, 2002 $1,500,000 $21,800,000 5,625,000 438,750,000 March 31, 2003 $1,700,000 $20,100,000 5,625,000 433,125,000 June 30, 2003 $ 1,700,000 $18,400,000 5,625,000 427,500,000 September 30, 2003 $1,700,000 $16,700,000 5,625,000 421,875,000 December 31, 2003 $1,700,000 $15,000,000 5,625,000 416,250,000 March 31, 2004 $2,000,000 $13,000,000 16,875,000 399,375,000 June 30, 2004 $2,000,000 $11,000,000 16,875,000 382,500,000 September 30, 2004 $2,000,000 $ 9,000,000 16,875,000 365,625,000 December 31, 2004 $2,000,000 $ 7,000,000 16,875,000 348,750,000 March 31, 2005 $2,333,333 $ 4,666,667 22,500,000 326,250,000 June 30, 2005 $2,333,333 $ 2,333,334 22,500,000 303,750,000 September 30, 2005 $2,333,334 $ 022,500,000 281,250,000 December 31, 2005 22,500,000 258,750,000 March 31, 2006 22,500,000 236,250,000 June 30, 2006 22,500,000 213,750,000 September 30, 2006 22,500,000 191,250,000 December 31, 2006 22,500,000 168,750,000 March 31, 2007 22,500,000 146,250,000 June 30, 2007 22,500,000 123,750,000 September 30, 2007 22,500,000 101,250,000 December 31, 2007 22,500,000 78,750,000 March 31, 2008 39,375,000 39,375,000 June 30, 2008 39,375,000 0 Credit Agreement ----------------
Appears in 1 contract
Changes of Commitments. (a) The aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Commitment Termination Date. In addition, the aggregate amount of the Revolving Credit Commitments shall be automatically reduced on each Revolving Credit Commitment Reduction Date set forth in column (A) below, (x) by an below to the amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (B) below opposite such Revolving Credit Commitment Reduction Date, (y) to an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (C) below opposite such Revolving Credit Commitment Reduction Date: (A) :
(B) (C) Revolving Credit Revolving Credit Revolving Credit Commitment Reduction Commitments Reduced Commitments Reduced Date Falling on or by the Following to the Following Nearest toTo: Amounts: Amounts: ---------- ------- ------- September 30, 1998 $ 100,000 $39,900,000 December 31, 1998 $ 100,000 $39,800,000 Amounts ----------- -------------------- March 31, 1999 $ 700,000 $39,100,000 87,750,000 June 30, 1999 $ 700,000 $38,400,000 85,500,000 September 30, 1999 $ 700,000 $37,700,000 83,250,000 December 31, 1999 $ 700,000 $37,000,000 81,000,000 March 31, 2000 $1,000,000 $36,000,000 78,500,000 June 30, 2000 $ 1,000,000 $35,000,000 Credit Agreement ---------------- - 40 - 76,000,000 September 30, 2000 $1,000,000 $34,000,000 73,500,000 December 31, 2000 $1,000,000 $33,000,000 71,000,000 March 31, 2001 $1,300,000 $31,700,000 68,500,000 June 30, 2001 $ 1,300,000 $30,400,000 66,000,000 September 30, 2001 $1,300,000 $29,100,000 63,500,000 December 31, 2001 $1,300,000 $27,800,000 61,000,000 March 31, 2002 $1,500,000 $26,300,000 55,937,500 June 30, 2002 $ 1,500,000 $24,800,000 50,875,000 September 30, 2002 $1,500,000 $23,300,000 45,812,500 December 31, 2002 $1,500,000 $21,800,000 40,750,000 March 31, 2003 $1,700,000 $20,100,000 35,687,500 June 30, 2003 $ 1,700,000 $18,400,000 30,625,000 September 30, 2003 $1,700,000 $16,700,000 25,562,500 December 31, 2003 $1,700,000 $15,000,000 20,500,000 March 31, 2004 $2,000,000 $13,000,000 10,250,000 June 30, 2004 0
(b) The Borrower shall have the right at any time or from time to time (i) so long as no Revolving Credit Loans or Letter of Credit Liabilities are outstanding, to terminate the Revolving Credit Commitments, (ii) to reduce the aggregate CREDIT AGREEMENT unutilized amount of the Revolving Credit Commitments , (iii) to reduce the aggregate unutilized amount of the Sterling Sub-Limits and (iv) to terminate the Term Loan Commitments; PROVIDED that (x) the Borrower shall give notice of each such termination or reduction as provided in Section 4.05 hereof and (y) each partial reduction of either the Revolving Credit Commitments or the Term Loan Commitments shall be in an aggregate amount at least equal to $2,000,000 5,000,000 (or a larger multiple of $11,000,000 September 301,000,000). In addition, 2004 $2,000,000 $ 9,000,000 December 31the Revolving Credit Commitments (including the Sterling Sub-Limits) shall be automatically reduced to the extent required pursuant to Section 2.10(f) hereof.
(c) Each partial reduction in the aggregate amount of the Revolving Credit Commitments pursuant to paragraph (b)(ii) above, 2004 $2,000,000 $ 7,000,000 March 31or Section 2.10(f) hereof, 2005 $2,333,333 $ 4,666,667 June 30on any date shall be applied to scheduled reductions in the Revolving Credit Commitments ratably as follows: each such reduction shall result in an automatic and simultaneous reduction (but not below zero) of the aggregate amount of Revolving Credit Commitments set forth in column (B) in paragraph (a) above (ratably in accordance with the respective remaining amounts thereof, 2005 $2,333,333 $ 2,333,334 September 30, 2005 $2,333,334 $ 0after giving effect to any prior reductions pursuant to this paragraph (c)).
(d) Each reduction in the aggregate amount of the Revolving Credit Commitments shall result in an automatic and simultaneous ratable reduction (but not below zero) of the aggregate amount of the Sterling Sub-Limits.
(e) Any portion of the Tranche A Term Loan Commitments not used on the Effective Date shall be automatically terminated on the Effective Date. Any portion of the Incremental Term Loan Commitments not used on the Incremental Term Loan Commitment Termination Date shall be automatically terminated on the Incremental Term Loan Commitment Termination Date.
(f) The Commitments once terminated or reduced may not be reinstated. CREDIT AGREEMENT
Appears in 1 contract
Sources: Credit Agreement (Panavision Inc)
Changes of Commitments. (a) Scheduled Reductions of Revolving Credit Commitments. The ---------------------------------------------------- aggregate amount of the Revolving Credit Commitments shall be automatically reduced to zero on the Revolving Credit Commitment Termination Date. In addition, the aggregate amount of the Revolving Credit Commitments shall be automatically reduced on each Revolving Credit Commitment Reduction Date set forth in column (A) below, (x) below by an amount (subject to reduction pursuant to paragraph (cd) below) equal to the amount percentage of the Final Commitment Amount (as defined below) set forth in column (B) below opposite such Revolving Credit Commitment Reduction Date, (y) to an amount (subject to reduction pursuant to paragraph (c) below) equal to the amount set forth in column (C) below opposite such Revolving Credit Commitment Reduction Date: (A) :
(B) (C) Revolving Credit Revolving Credit Revolving Credit Commitment Reduction Commitments Reduced Commitments Reduced Date Falling on or by the Following to the Following Nearest to: Amounts: AmountsPercentages: ---------- ------- ------- ----------- December 31, 2004 2.000% March 31, 2005 2.500% June 30, 2005 2.500% September 30, 1998 $ 100,000 $39,900,000 2005 2.500% December 31, 1998 $ 100,000 $39,800,000 March 31, 1999 $ 700,000 $39,100,000 June 30, 1999 $ 700,000 $38,400,000 September 30, 1999 $ 700,000 $37,700,000 December 31, 1999 $ 700,000 $37,000,000 March 31, 2000 $1,000,000 $36,000,000 June 30, 2000 $ 1,000,000 $35,000,000 2005 2.500% Credit Agreement ---------------- - 40 44 - March 31, 2006 3.125% June 30, 2006 3.125% September 30, 2000 $1,000,000 $34,000,000 2006 3.125% December 31, 2000 $1,000,000 $33,000,000 2006 3.125% March 31, 2001 $1,300,000 $31,700,000 2007 5.000% June 30, 2001 $ 1,300,000 $30,400,000 2007 5.000% September 30, 2001 $1,300,000 $29,100,000 2007 5.000% December 31, 2001 $1,300,000 $27,800,000 2007 5.000% March 31, 2002 $1,500,000 $26,300,000 2008 5.000% June 30, 2002 $ 1,500,000 $24,800,000 2008 5.000% September 30, 2002 $1,500,000 $23,300,000 2008 5.000% December 31, 2002 $1,500,000 $21,800,000 2008 5.000% March 31, 2003 $1,700,000 $20,100,000 2009 6.875% June 30, 2003 $ 1,700,000 $18,400,000 2009 6.875% September 30, 2003 $1,700,000 $16,700,000 2009 6.875% December 31, 2003 $1,700,000 $15,000,000 2009 6.875% March 31, 2004 $2,000,000 $13,000,000 June 2010 8.000% For purposes hereof, the "Final Commitment Amount" shall mean the ----------------------- aggregate amount of the Revolving Credit Commitments as at the close of business on November 30, 2004 $2,000,000 $11,000,000 September 30, 2004 $2,000,000 $ 9,000,000 December 31, 2004 $2,000,000 $ 7,000,000 March 31, 2005 $2,333,333 $ 4,666,667 June 30, 2005 $2,333,333 $ 2,333,334 September 30, 2005 $2,333,334 $ 02001 giving effect to any reduction that shall occur on such date pursuant to Section 2.04(c) hereof.
Appears in 1 contract