Common use of Investor Commitments Clause in Contracts

Investor Commitments. (a) Each Investor (or an Affiliate thereof) shall execute and deliver to the Purchaser a commitment letter (the “Investor Commitment Letter”) in a form mutually acceptable to the Investors, pursuant to which each such Investor (or the applicable Affiliate) agrees to make a loan to the Purchaser in the amount sufficient to satisfy 50% of the cash portion of the purchase price payable under the Arrangement Agreement and, to the extent necessary, 50% of the costs, expenses and other obligations incurred by or on behalf of the Purchaser in connection with the Transaction. (b) The proceeds from the Investor Commitment Letter shall be used by the Purchaser to fund the cash consideration payable pursuant to the Transaction and, if applicable, to fund expenses as determined by the Investors pursuant to Section 6. Each Investor shall be entitled to enforce or cause the Purchaser to enforce the provisions of the Investor Commitment Letter against the other Investor in accordance with this Agreement, but only if, pursuant to Section 6, the Investors have determined to proceed with the Transaction to Closing. The Purchaser shall have no right to enforce any Investor Commitment Letter unless directed to do so by the Investors in accordance with Section 6.