Reduction in Availability Clause Samples

Reduction in Availability. Upon issuance of a Letter of Credit under the Letter of Credit subfacility provided pursuant to this Article III of this Agreement, the amount of availability under the Revolving Credit Facility shall be reduced by an equivalent amount, but no interest shall be payable by TIMET on such amount unless and until a drawing is made on such Letter of Credit.

Reduction in Availability. The amount of all outstanding Letters of Credit, when added to the outstanding Advances and Swing Line Loans under Section 2.1 above, must not exceed the Tranche A Commitment.

Reduction in Availability. Upon issuance of a letter of credit under this subfacility, the amount of Availability will be reduced in an equivalent amount, but no interest or fees (except U.S. Bank's normal issuance and usage fees and charges and the letter of credit fees) will be payable on such amount until a drawing is made on such letter of credit.

Reduction in Availability. Notwithstanding the maximum principal ------------------------- amount set forth above, the maximum principal amount available under this Note shall be reduced automatically and without further notice on February 1, 2003 by the amount of Five Million Dollars ($5,000,000.

Reduction in Availability. The maximum availability under the NOTE shall be reduced to Six Million Three Hundred Thousand Dollars ($6,300,000.00). All references in the LOAN DOCUMENTS to Eight Million Dollars ($8,000,000.00) as signifying the maximum availability under any of the LOAN DOCUMENTS shall be reduced to Six Million Three Hundred Thousand Dollars ($6,300,000.00).

Reduction in Availability. Upon issuance of a letter of credit under this Section, the amount of the total Commitments under this Agreement will be reduced in an equivalent amount, but no interest or fees (except Agent's letter of credit fees) will be payable on such amount until a drawing is made on such letter of credit.

Reduction in Availability. Borrower acknowledges and agrees that the current Available Commitment Amount with respect to the Gardenia Project is $5,944,525. Notwithstanding anything in the Loan Agreement to the contrary, including without limitation Section 2.4(b)(ii) thereof, as a result of the reduction in the Maximum Allowed Advance with respect to the Gardenia Project, the Available Commitment Amount with respect to the Gardenia Project shall be reduced to $2,939,900 on December 31, 2008, and shall be further reduced to $0 on March 31, 2009.

Reduction in Availability. To reflect the agreement of the parties hereto that the credit limits currently contained in the Credit Agreement be reduced to reflect the issuance of the New 1998 Bond Financing Letter of Credit under the Bond Financing Reimbursement Agreement, effective as of the Effective Date: (a) The definition of "Revolving Loan Credit Limit" set forth in Paragraph 16 of the Credit Agreement is hereby amended to read in its entirety as follows:

Reduction in Availability. Upon issuance of a letter of credit under this subfacility, the amount of Availability will be reduced in an equivalent amount, but no interest or fees (except U.S. Bank's normal issuance and usage fees and charges and the letter of credit fees) will be payable on such amount until a drawing is made on such letter of credit.