Common use of Monthly Commitment Reduction Clause in Contracts

Monthly Commitment Reduction. The Borrowing Base and the Revolving Commitment shall be reduced as of the first day of each month by an amount determined by the Banks pursuant to Section 7(b) hereof (the "Monthly Commitment Reduction"). The Monthly Commitment Reduction shall be $0 beginning on May 1, 1998, with like reductions continuing on the first day of each month thereafter until redetermined pursuant to Section 7(b) hereof. If as a result of any such Monthly Commitment Reduction, the Total Outstandings ever exceed the Revolving Commitment then in effect, the Borrower shall make the mandatory prepayment of principal required pursuant to Section 9(b) hereof.

Monthly Commitment Reduction. The Borrowing Base and the Revolving Commitment shall be reduced as of the first (1st) day of each month by an amount determined by the Banks pursuant to Section 7(b) hereof (the "Monthly Commitment Reduction"). The Monthly Commitment Reduction shall be $0 535,000.00 beginning on May as of December 1, 1998, with like reductions continuing on the first day of each month thereafter 2000 and shall continue at such amount until redetermined pursuant to Section 7(b) hereof. If as a result of any such Monthly Commitment Reduction, the Total Outstandings ever exceed the Revolving Commitment then in effect, the Borrower Borrowers shall make the mandatory prepayment of principal required pursuant to Section 9(b) hereof.

Monthly Commitment Reduction. The Borrowing Base and the Revolving Commitment shall be reduced as of the first last day of each month month, commencing January 1, 2004, by an amount determined by the Banks pursuant to Section 7(b5(b) hereof below (the "Monthly Commitment Reduction"). The Monthly Commitment Reduction shall be $0 350,000.00 beginning on May 1as of January 31, 1998, with like reductions continuing on the first day of each month thereafter 2004 and shall continue at such amount until redetermined pursuant to Section 7(b5(b) hereofbelow. If as a result of any such Monthly Commitment Reduction, the Total Outstandings ever exceed the Revolving Commitment then in effect, the Borrower Borrowers shall make the mandatory prepayment of principal required pursuant to Section 9(b7(b) hereofbelow.

Monthly Commitment Reduction. The Borrowing Base and the ---------------------------- Revolving Commitment shall be reduced as of the first day of each month beginning February 1, 1998 by an amount determined by the Banks pursuant to Section 7(b) hereof (the "Monthly Commitment Reduction"). The Monthly Commitment Reduction shall be $0 2,000,000 beginning on May February 1, 1998, with like reductions continuing on the first day of each month thereafter until redetermined pursuant to Section 7(b) hereof. If as a result of any such Monthly Commitment Reduction, the Total Outstandings ever exceed the Revolving Commitment then in effect, the Borrower Borrowers shall make the mandatory prepayment of principal required pursuant to Section 9(b) hereof.

Monthly Commitment Reduction. The Borrowing Base and the Revolving Commitment shall be reduced as of the first day of each month by an amount determined by the Banks pursuant to Section 7(b) hereof (the "Monthly Commitment Reduction"). The Monthly Commitment Reduction shall be $0 beginning on May June 1, 1998, with like reductions continuing on the first day of each month thereafter until redetermined pursuant to Section 7(b) hereof. If as a result of any such Monthly Commitment Reduction, the Total Outstandings ever exceed the Revolving Commitment then in effect, the Borrower Borrowers shall make the mandatory prepayment of principal required pursuant to Section 9(b) hereof.