Amendment to “Maximum Commitment Financing Clause Samples
The "Amendment to Maximum Commitment Financing" clause modifies the original terms regarding the maximum amount of financing a lender is obligated to provide under an agreement. This clause typically outlines the new upper limit of funding, specifies any conditions or procedures for increasing or decreasing the commitment, and may detail the effective date of the amendment. Its core practical function is to formally adjust the financial obligations between parties, ensuring that both lender and borrower have a clear, updated understanding of the maximum available financing and reducing the risk of disputes over funding limits.
Amendment to “Maximum Commitment Financing. Definition
Amendment to “Maximum Commitment Financing. Definition.
Section 1 (h) of the Agreement is hereby amended by replacing the number “40,000,000” currently appearing therein with the number “50,000,000”.
Amendment to “Maximum Commitment Financing. Definition.
a. Section 1(h) of the Agreement is hereby deleted and replaced in its entirety with the following:
Amendment to “Maximum Commitment Financing. Definition
Section 1 (f) of the Agreement is hereby amended by replacing the number “75,000,000” currently appearing therein with the number “125,000,000”.
Amendment to “Maximum Commitment Financing. Definition
Section 1 (h) of the Agreement is hereby replaced in its entirety with the following: ""Maximum Commitment Financing" means $55,000,000 USD; provided, however, that Customer may reduce the Maximum Commitment Financing by an amount up to $15,000,000 upon 1 Business Day's written notice (no more than one time per calendar month), and by any amount upon 30 calendar days' written notice to BNPP PB, Inc. and, provided further, that upon one Business Day's written notice to BNPP PB, Inc., Customer may increase the Maximum Commitment Financing up to $75,000,000 USD."