Common use of Binding Commitment Clause in Contracts

Binding Commitment. Subject to the satisfaction of the conditions in Section 5 of the Bond Sale Agreement, the Bond Sale Agreement shall constitute a binding commitment of the Locality to sell its local school bond to VPSA as of the later of the VPSA Sale Date and the date the Local Issuer executes the Bond Sale Agreement.

Binding Commitment. Subject to the satisfaction of the conditions in Section 5 6 of the Bond Sale Agreement, the Bond Sale Agreement shall constitute a binding commitment of the Locality to sell its local school bond to VPSA as of the later of the VPSA Sale Date and the date the Local Issuer Locality executes the Bond Sale Agreement.