Undrawn Commitment definition

Undrawn Commitment means, with respect to any Revolving Lender at any time, an amount (which may not be less than zero) equal to (i) such Lender’s Revolving Commitment at such time minus (ii) the aggregate outstanding principal amount of Revolving Loans held by such Revolving Lender at such time.

Undrawn Commitment means, with respect to an Interestholder, the amount of such Interestholder’s Commitment as of any date reduced by the aggregate amount of capital contributions made by that Interestholder at all previous drawdown dates and amounts reinvested by the Fund (excluding recyclable amounts, as described in the Prospectus), and increased by any distributions made by the Fund to such Interestholder that represent recyclable amounts or recallable amounts (as described in the Prospectus).

Undrawn Commitment means, with respect to any Lender at any time, an amount (which may not be less than zero) equal to the undrawn portion of such Lender’s Commitment at such time.

Examples of Undrawn Commitment in a sentence

• The request by the Issuer for further drawdowns under the Undrawn Commitment shall be made by way of a Capital Call Notice.

• Any time until the expiry of the Commitment, the Issuer may, but is not required to, request each Commitment Holder to subscribe to the Linked Notes in one or more instalments up to the amount of the Undrawn Commitment calculated at the time of such request.

• Any time after the Issuer Date but prior to the Maturity Date, the Issuer is entitled, but is not obliged, to make Capital Calls by making Capital Call Notices as described in 2.2, requesting subscription by the Commitment Holder of the Undrawn Commitment in one or more instalments.

• The Investment Committee shall be disbanded and the Manager shall cease to identify suitable investment opportunities in Venture Capital Businesses and shall not acquire any further VCF Portfolio Securities without the prior written consent of the Board (unless in performance of an Undrawn Commitment made prior to date of termination) but shall otherwise continue to manage the Venture Capital Portfolio in accordance with the terms of this Agreement and the Management Agreement.

• From and after the Series 2018-1 Closing Date, Undrawn Commitment Fees will accrue as provided in the Series 2018-1 Class A-1 Note Purchase Agreement.

More Definitions of Undrawn Commitment

Undrawn Commitment means any arrangement of a bank with any person (including other branches of the bank) which would pose liquidity risk to the bank in the event the person or a third party in whose favour the arrangement is made, utilises or calls upon the commitment, such as any unutilised portion of a guarantee, any standby letter of credit, any warranty, any standby credit facility, any forward asset purchase, any underwriting arrangements, any credit protection sold by the bank and any liquidity facilities granted by the bank but does not include any arrangement where the drawdown or utilisation is subject to the approval of the bank at the point of drawdown, and the bank has the unconditional right to refuse drawdown.

Undrawn Commitment means, with respect to a Common Unitholder, the amount of such Common Unitholder’s Commitment as of any date reduced by the aggregate amount of capital contributions made by that Common Unitholder at all previous Drawdown Dates and Catch-Up Dates and amounts reinvested by the Company (excluding Recyclable Amounts), and increased by any distributions made by the Company to such Common Unitholder that represent Recyclable Amounts or Recallable Amounts, each as defined in 4.4.2. For the avoidance of doubt, “then-current NAV per Unit” as set forth in this 3.3 will consist of the NAV per Unit calculated in accordance with the valuation procedures adopted by the Company, as may be amended from time to time.

Undrawn Commitment as to any Bank at any time, the amount of such Bank's Commitment minus the amount of such Bank's Committed Exposure at such time but not less than zero.

Undrawn Commitment means, with respect to a Common Unitholder, the amount of such Common Unitholder’s Commitment as of any date reduced by the aggregate amount of contributions made by that Common Unitholder at all previous Drawdown Dates and Catch-Up Dates, and increased by the aggregate amount of Returned Capital received by that Common Unitholder as set forth in 4.4.2. For the avoidance of doubt, “then-current NAV per Unit” as set forth in this 3.4 may consist of the NAV per Unit calculated at the end of the most recent calendar month prior to the date of the applicable drawdown notice or issuance date.

Undrawn Commitment means as of a date the amount of any Class B Limited Partner’s Commitment reduced by the amount of all Capital Contributions made by such Partner (but excluding, for the avoidance of doubt, any deemed contributions made pursuant to Section 5.2(a)).

Undrawn Commitment means the Total Commitments less the Loan Amount from time to time;

Undrawn Commitment means, with respect to any Member as of any date, the excess of (A) the sum of: (i) such Member’s Capital Commitment plus (ii) such Member’s Recallable Capital over (B) the sum of: (i) the Capital Contributions previously paid by such Member to the Company plus (ii) the Drawdowns (which have not yet been paid) of such Member to the Company.