Common use of Reduction of Indebtedness Clause in Contracts

Reduction of Indebtedness. If at any time and for any reason the aggregate outstanding principal amount of Advances hereunder to Borrower shall exceed the then applicable Capex Credit Commitment, Borrower shall immediately reduce any pending request for an Advance on such day by the amount of such excess and, to the extent any excess remains thereafter, immediately repay an amount of the Indebtedness equal to such excess.

Appears in 2 contracts

Sources: Credit Agreement (Brooklyn Cheesecake & Desert Com), Credit Agreement (Brooklyn Cheesecake & Desert Com)

Reduction of Indebtedness. If at any time and for any reason the aggregate outstanding principal amount of Advances hereunder to Borrower shall exceed the then applicable Capex Credit Commitment, Borrower shall immediately reduce any pending request for an Advance on such day by the amount of such excess and, to the extent any excess remains thereafter, immediately repay an amount of the Indebtedness equal to such excess.. 3.A.6

Appears in 1 contract

Sources: Credit Agreement