Common use of Scheduled Reductions Clause in Contracts

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.

Appears in 2 contracts

Sources: Credit Agreement (Universal City Development Partners LTD), Credit Agreement (Universal City Development Partners LTD)