Common use of Paydown Period Clause in Contracts

Paydown Period. To reduce the amount of advances outstanding under this Agreement to zero for a period of at least 30 consecutive days during each semi-annual calendar period in each year. For the purposes of this paragraph, `advances' does not include undrawn amounts of outstanding letters of credit."

Paydown Period. To reduce the amount of advances outstanding under this Agreement to zero for a period of at least 30 consecutive days during between January 1 and March 31 of each semi-annual calendar period in each year. For the purposes of this paragraph, `"advances' " does not include undrawn amounts of outstanding letters of credit."