Acquisition Facility Commitment Clause Samples
Acquisition Facility Commitment. Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the Acquisition Facility Commitments and the agreements of the Lenders set forth in this Section 2.03, (1) on any Business Day during the Acquisition Facility Letter of Credit Availability Period, to issue the Acquisition Facility Letter of Credit denominated in Dollars or in Euros for the account of the Company, and to amend or extend such Acquisition Facility Letter of Credit, in accordance with subsection (b) below, and (2) to honor drawings under the Acquisition Facility Letter of Credit; and (B) the Lenders severally agree to participate in the Acquisition Facility Letter of Credit and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to the Acquisition Facility Letter of Credit, (x) the Total Acquisition Facility Outstandings shall not exceed the Aggregate Acquisition Facility Commitments and (y) the aggregate Outstanding Amount of any Acquisition Facility Loan of any Lender, plus such Lender's Applicable Percentage of the Outstanding Amount of the Acquisition Facility Letter of Credit shall not exceed such Lender's Acquisition Facility Commitment. The request by the Company for the issuance or amendment of the Acquisition Facility Letter of Credit shall be deemed to be a representation by the Company that such L/C Credit Extension so requested complies (or such conditions have been waived) with the conditions set forth in the proviso to the preceding sentence. The Company's ability to obtain the Acquisition Facility Letter of Credit shall not be revolving, and accordingly the Company may not obtain Letters of Credit to replace the Acquisition Facility Letter of Credit if such Acquisition Facility Letter of Credit shall have expired or shall have been drawn upon and reimbursed.
Acquisition Facility Commitment. Borrower and Lenders hereby agree that, effective as of the date hereof, the Acquisition Facility Commitment shall be decreased to $10,000,000 in the aggregate. Until the Acquisition Commitment Termination Date, Borrower may borrow all amounts that remain available under the Acquisition Credit Facility, as modified in accordance with the terms of this Fifth Amendment, in accordance with the terms of the Credit Agreement. As of the date hereof, the Definition of “Acquisition Facility Commitment” set forth in Annex A of the Credit Agreement is hereby amended and restated in its entirety to read as follows: