Final Reduction Date definition
Examples of Final Reduction Date in a sentence
On the Final Reduction Date (without prejudice to any other provision of this Agreement), the relevant Revolving Loan Ship Commitments shall be reduced to zero.
Following the Final Reduction Date, in the event that the Final Retained Amount at any time exceeds the amount of all Final Outstanding Claims which have not been paid to the Indemnified Parties or which are not subject to a Discharge Notice or Determination Discharge, the Escrow Agent shall pay to the Former Stockholders within three (3) Business Days of the Representative's written request for such payment, an amount equal to such excess.
On or before the fifth (5th) Business Day following the receipt of Joint Written Instructions by the Escrow Agent notifying the Escrow Agent of the Final Reduction Date, subject to the provisions of this Section 4(j) (including, but not limited to, the following sentence), release from the Escrow Account and disburse to the Stockholders and Non-Exercising Payees (if any), via check delivered first class mail based upon the address indicated on Schedule 2, the Final Disbursement Amount.
If the Borrower elects to confirm the relevant Extension Request pursuant to an Extension Confirmation Notice, then such Extension Request is irrevocable and the extension of the Original Final Reduction Date to the date requested in the relevant Extension Request will take effect in accordance with paragraph (g) below.
On or before the third (3rd) Business Day following the receipt of Joint Written Instructions by the Escrow Agent notifying the Escrow Agent of the Final Reduction Date, the Escrow Agent shall pay to the Former Stockholders an amount equal to the then remaining balance of the Escrow Amount, including any interest or other earnings, reduced by the Pending Claims Amount (as defined below).
If the Revolving Loan Commitments have been partially reduced under this Agreement before the Final Reduction Date, each Revolving Loan Ship Commitment shall be reduced pro rata.
Total Facility B Commitment and to zero on the Final Reduction Date and the Borrower shall on each Repayment Date relative to Facility B repay such further amount as shall ensure that the aggregate of all Advances of Facility B never exceed the Total Facility B Commitment or the Committed Facility B Amount at any relevant time.
On the date of the Borrower’s notification to the Agent that it so agrees to proceed, the Original Final Reduction Date shall, subject to paragraph (f) and (l) below, be extended to the First Extended Final Reduction Date but only in respect of the Commitment of each Lender which has consented to the First Extension Request (each a First Extension Lender).