Scheduled Reductions Clause Samples

Scheduled Reductions. The Revolving Commitments shall be permanently reduced to zero on the fifth anniversary of the Closing Date

Scheduled Reductions. The Revolving Credit Commitment shall be -------------------- permanently reduced on the last Business Day of each of December, March, June and September, on the Revolving Credit Termination Date, by multiplying the corresponding quarterly percentage times the Revolving Credit Commitment in ----- effect on September 30, 2002 in accordance with the following table: -------------------------------------------------------------------------------- Percentage Annual Reduction Percentage Quarters Ending Per Quarter Reduction -------------------------------------------------------------------------------- 12/31/02 through 9/30/03 1.25% 5.0% 12/31/03 through 9/30/04 2.50% 10.0% 12/31/04 through 9/30/05 6.25% 25.0% 12/31/05 through 9/30/06 7.50% 30.0% 12/31/06 through 11/03/07 7.50% 30.0% 100.0% -------------------------------------------------------------------------------- Any reductions pursuant to Section 2.6(a) or 2.6(c) shall be applied pro rata to -------- reduce the remaining scheduled reduction amounts required by this paragraph (b).

Scheduled Reductions. (a) The Total Revolving Commitments shall -------------------- reduce on each of the dates set forth by the amount set forth below opposite such date (each Lender's Revolving Commitment shall be reduced ratably in connection with any such reduction in the Total Revolving Commitments in accordance with Section 2.14(a)): DATE REDUCTION AMOUNT September 30, 2001 $ 2,500,000 December 31, 2001 2,500,000 March 31, 2002 2,500,000 June 30, 2002 2,500,000 September 30, 2002 2,500,000 December 31, 2002 2,500,000 March 31, 2003 2,500,000 June 30, 2003 2,500,000 September 30, 2003 2,500,000 December 31, 2003 2,500,000 March 31, 2004 2,500,000 Revolving Termination Date 47,500,000 (b) Notwithstanding the foregoing, in the event the Stone Acquisition is not consummated on or prior to the day which is 90 days following the Closing Date, the Total Revolving Commitments shall reduce automatically on the next succeeding Business Day to the lower of (i) $40,000,000 and (ii) the sum of (x) the aggregate principal amount of Revolving Loans then outstanding and (y) $7,500,000 and, thereafter, the Total Revolving Commitments shall be reduced on each of the dates set forth below by the amount set forth opposite such date below. In the event that clause (ii) above is applicable, the amounts set forth below shall be ratably reduced. Each Lender's Revolving Commitment shall be reduced ratably in connection with each reduction of the Total Revolving Commitments pursuant to this proviso in accordance with Section 2.14(a). Date Reduction Amount September 30, 1999 $1,500,000 December 31, 1999 $1,500,000 March 31, 2000 $1,500,000 June 30, 2000 $1,500,000 September 30, 2000 $1,750,000 December 31, 2000 $1,750,000 March 31, 2001 $1,750,000 June 30, 2001 $1,750,000 September 30, 2001 $2,000,000 December 31, 2001 $2,000,000 March 31, 2002 $2,000,000 June 30, 2002 $2,000,000 September 30, 2002 $2,000,000 December 31, 2002 $2,000,000 March 31, 2003 $2,000,000 June 30, 2003 $2,000,000 September 30, 2003 $2,750,000 December 31, 2003 $2,750,000 March 31, 2004 $2,750,000 Revolving Termination Date $2,750,000 (c) Notwithstanding the foregoing, in the event that the Stone Acquisition is consummated but the Senior Subordinated Note Date does not occur prior to the first anniversary of the Closing Date, the Total Revolving Commitments shall be reduced on each of the dates set forth below by the amount set forth below opposite such date (each Lender's Revolving Commitment shall be reduced ratably in co...

Scheduled Reductions. The combined Commitments shall be automatically and permanently reduced on July 1, 2000 by $25,000,000. The reduction of the Commitments shall be applied to each Bank according to its Pro Rata Share. The Company agrees that it will, on or before the date of such scheduled reduction, make a mandatory prepayment to the Agent in the amount necessary to reduce the sum of the Dollar Equivalent of (i) the aggregate principal amount of the outstanding Loans plus (ii) the L/C Obligations to an amount which is less than or equal to the combined Commitments after giving effect to such scheduled reduction."

Scheduled Reductions. On each Amortization Date, the Borrower shall repay such principal amount (together with accrued interest thereon) of each Bank's outstanding Working Capital Loans, if any, as may be necessary so that after such repayment such Bank's Working Capital Outstandings do not exceed the amount of such Bank's Working Capital Commitment as then reduced.

Scheduled Reductions. If Schedule 2.01 as in effect at any time shall indicate that the Commitments shall be reduced on any date then, unless previously terminated, the Commitments shall be reduced by the indicated amounts at 5:00 p.m. (New York City time) on such date.

Scheduled Reductions. The Aggregate Commitment Amount shall be automatically and permanently reduced to (i) $900,000,000 on November 28, 2008, and (ii) $500,000,000 on December 31, 2008 (in each case unless reduced to or below such amounts prior to such dates as otherwise provided herein).

Scheduled Reductions. The Total Commitment shall automatically reduce on each Amortization Date by an amount equal to the Amortization Amount unless the Final Maturity Date is extended within the three months preceding such Amortization Date in accordance with Section 2.10(c) below, in which case each Amortization Date shall be delayed by one year. The Total Commitment shall be reduced to zero on the Final Maturity Date.

Scheduled Reductions. Commencing on December 31, 2001, the Commitment (as then in effect) shall be automatically and permanently reduced on the dates and by the percentages set forth below: Commitment Percentage Reduction Date Reduction -------------- ---------- December 31, 2001 5.000% March 31, 2002, June 30, 2002, September 30, 2002 and December 31, 2002 2.500% March 31, 2003, June 30, 2003, September 30, 2003, and December 31, 2003 3.750% March 31, 2004, June 30, 2004, September 30, 2004, and December 31, 2004 5.500% March 31, 2005, June 30, 2005, September 30, 2005, and December 31, 2005 7.000% March 31, 2006 20.000%