Scheduled Reductions of Revolving Loan Commitments. The Revolving Loan Commitments shall be permanently reduced on the dates and in the amounts set forth below: =================================== ========================================= QUARTER SCHEDULED REDUCTION ENDING OF REVOLVING LOAN COMMITMENTS =================================== ========================================= March 31, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- June 30, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- September 30, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- December 31, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- March 31, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- June 30, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- September 30, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- December 31, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- March 31, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- June 30, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- September 30, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- December 31, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- March 31, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- June 30, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- September 30, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- December 31, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- March 31, 2008 $ 30,000,000 ----------------------------------- ----------------------------------------- June 30, 2008 $ 30,000,000 =================================== ========================================= ; PROVIDED that the scheduled reductions of the Revolving Loan Commitments set forth above shall be reduced in connection with any voluntary or mandatory reductions of the Revolving Loan Commitments in accordance with subsection 2.4B(iv); and PROVIDED, FURTHER that the Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans shall be paid in full no later than the Stated Maturity Date, and the final installment payable by Borrower in respect of the Revolving Loans on such date shall be in an amount, if such amount is different from that specified above, sufficient to repay all amounts owing by Borrower under this Agreement with respect to the Revolving Loans.
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Scheduled Reductions of Revolving Loan Commitments. The Revolving Loan Commitments shall be permanently reduced on Subsection 2.4A of the dates and in Credit Agreement is hereby amended by restating the amounts table set forth belowtherein in its entirety as follow: =================================== ============================================== QUARTER SCHEDULED REDUCTION ENDING OF REVOLVING LOAN COMMITMENTS =================================== -------------------------------------------------------------------------------- December 31, 1999 $ 687,500 -------------------------------------------------------------------------------- March 31, 2000 $ 1,718,750 -------------------------------------------------------------------------------- June 30, 2000 $ 1,718,750 -------------------------------------------------------------------------------- September 30, 2000 $ 1,718,750 -------------------------------------------------------------------------------- December 31, 2000 $ 1,718,750 -------------------------------------------------------------------------------- March 31, 2001 $ 2,062,500 -------------------------------------------------------------------------------- June 30, 2001 $ 2,062,500 -------------------------------------------------------------------------------- September 30, 2001 $ 2,062,500 -------------------------------------------------------------------------------- December 31, 2001 $ 2,062,500 -------------------------------------------------------------------------------- March 31, 2002 $ 2,406,250 -------------------------------------------------------------------------------- June 30, 2002 $ 2,406,250 -------------------------------------------------------------------------------- September 30, 2002 $ 2,406,250 -------------------------------------------------------------------------------- December 31, 2002 $ 2,406,250 -------------------------------------------------------------------------------- March 31, 2003 $ 2,406,250 -------------------------------------------------------------------------------- June 30, 2003 $ 2,406,250 -------------------------------------------------------------------------------- September 30, 2003 $ 2,406,250 -------------------------------------------------------------------------------- December 31, 2003 $2,406,250 -------------------------------------------------------------------------------- March 31, 2004 $2,750,000 -------------------------------------------------------------------------------- June 30, 2004 $2,750,000 -------------------------------------------------------------------------------- September 30, 2004 $2,750,000 -------------------------------------------------------------------------------- December 31, 2004 $2,750,000 -------------------------------------------------------------------------------- March 31, 2005 $6,875,000 ========================================= March 31, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- June 30, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- September 30, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- December 31, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- March 31, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- June 30, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- September 30, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- December 31, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- March 31, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- June 30, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- September 30, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- December 31, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- March 31, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- June 30, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- September 30, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- December 31, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- March 31, 2008 $ 30,000,000 ----------------------------------- ----------------------------------------- June 30, 2008 $ 30,000,000 =================================== ========================================= ; PROVIDED that the scheduled reductions of the Revolving Loan Commitments set forth above shall be reduced in connection with any voluntary or mandatory reductions of the Revolving Loan Commitments in accordance with subsection 2.4B(iv); and PROVIDED, FURTHER that the Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans shall be paid in full no later than the Stated Maturity Date, and the final installment payable by Borrower in respect of the Revolving Loans on such date shall be in an amount, if such amount is different from that specified above, sufficient to repay all amounts owing by Borrower under this Agreement with respect to the Revolving Loans.
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Scheduled Reductions of Revolving Loan Commitments. The Revolving Loan Commitments shall be permanently reduced on the dates and in the amounts set forth below: =================================== ========================================= QUARTER SCHEDULED REDUCTION ENDING OF REVOLVING LOAN COMMITMENTS -------------------------------------------------------------- December 31, 1998 $ 687,500 -------------------------------------------------------------- March 31, 1998 $ 687,500 -------------------------------------------------------------- June 30, 1999 $ 687,500 -------------------------------------------------------------- September 30, 1999 $ 687,500 -------------------------------------------------------------- December 31, 1999 $ 1,718,750 -------------------------------------------------------------- March 31, 2000 $ 1,718,750 -------------------------------------------------------------- June 30, 2000 $ 1,718,750 -------------------------------------------------------------- September 30, 2000 $ 1,718,750 -------------------------------------------------------------- December 31, 2000 $ 2,062,500 -------------------------------------------------------------- March 31, 2001 $ 2,062,500 -------------------------------------------------------------- June 30, 2001 $ 2,062,500 -------------------------------------------------------------- September 30, 2001 $ 2,062,500 -------------------------------------------------------------- December 31, 2001 $ 2,406,250 -------------------------------------------------------------- March 31, 2002 $ 2,406,250 -------------------------------------------------------------- June 30, 2002 $ 2,406,250 -------------------------------------------------------------- September 30, 2002 $ 2,406,250 -------------------------------------------------------------- December 31, 2002 $ 2,406,250 -------------------------------------------------------------- March 31, 2003 $ 2,406,250 -------------------------------------------------------------- June 30, 2003 $ 2,406,250 -------------------------------------------------------------- September 30, 2003 $ 2,406,250 -------------------------------------------------------------- December 31, 2003 $2,750,000 -------------------------------------------------------------- March 31, 2004 $2,750,000 -------------------------------------------------------------- June 30, 2004 $2,750,000 -------------------------------------------------------------- September 30, 2004 $2,750,000 -------------------------------------------------------------- December 31, 2004 $3,437,500 -------------------------------------------------------------- March 31, 2005 $3,437,500 =================================== ========================================= March 31, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- June 30, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- September 30, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- December 31, 2004 $ 3,750,000 ----------------------------------- ----------------------------------------- March 31, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- June 30, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- September 30, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- December 31, 2005 $ 5,625,000 ----------------------------------- ----------------------------------------- March 31, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- June 30, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- September 30, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- December 31, 2006 $ 5,625,000 ----------------------------------- ----------------------------------------- March 31, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- June 30, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- September 30, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- December 31, 2007 $ 7,500,000 ----------------------------------- ----------------------------------------- March 31, 2008 $ 30,000,000 ----------------------------------- ----------------------------------------- June 30, 2008 $ 30,000,000 =================================== ========================================= ; PROVIDED that the scheduled reductions of the Revolving Loan Commitments set forth above shall be reduced in connection with any voluntary or mandatory reductions of the Revolving Loan Commitments in accordance with subsection 2.4B(iv); and PROVIDED, FURTHER that the Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans shall be paid in full no later than the Stated Maturity Date, and the final installment payable by Borrower in respect of the Revolving Loans on such date shall be in an amount, if such amount is different from that specified above, sufficient to repay all amounts owing by Borrower under this Agreement with respect to the Revolving Loans.
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