Type of Commitment Sample Clauses
The 'Type of Commitment' clause defines the nature and extent of the obligations that a party undertakes within an agreement. It specifies whether the commitment is firm, conditional, or subject to certain limitations, such as a best-efforts or take-or-pay arrangement. For example, it may clarify if a party is required to deliver a fixed quantity of goods or only to use reasonable efforts to do so. This clause is essential for setting clear expectations and reducing ambiguity about each party's responsibilities, thereby minimizing the risk of disputes over performance.
Type of Commitment. Requested Amount $ ------------------- Requested Date of Issuance -------------------- Requested Expiration Date -------------------- Summary of Terms -------------------- (provide a brief description of the purpose of such Letter of Credit and the conditions under which the drafts under such Letter of Credit are to be available) -------------------- Beneficiary (Name/Address) -------------------- -------------------- -------------------- -------------------- Such Letter of Credit is more particularly described in the Letter of Credit Application and Agreement of Administrative Agent which is attached hereto. Borrower and the Authorized Officer of Borrower signing this instrument hereby certify that:
Type of Commitment. Requested Amount $ --------------------------------- Requested Date of Issuance --------------------------------- Requested Expiration Date --------------------------------- Summary of Terms --------------------------------- (provide a brief description of conditions under which the drafts under such Letter of Credit are to be available) --------------------------------- Beneficiary (Name/Address) --------------------------------- --------------------------------- --------------------------------- --------------------------------- Such Letter of Credit is more particularly described in the Letter of Credit Application and Agreement of Issuer which is attached hereto. The undersigned Borrower or Borrowers and the Authorized Officer of such Borrower or Borrowers signing this instrument hereby certify that:
Type of Commitment. Requested Amount $ Requested Date of Issuance Requested Expiration Date Summary of Terms (provide a brief description of conditions under which the drafts under such Letter of Credit are to be available) Beneficiary (Name/Address) Such Letter of Credit is more particularly described in the Letter of Credit Application and Agreement of Issuer which is attached hereto. Borrower hereby certifies that:
Type of Commitment. Requested Amount $ ------------------ Requested Date of Issuance ------------------ Requested Expiration Date ------------------ Summary of Terms ------------------ (provide a brief description of conditions under which the drafts under such Letter of Credit are to be available) ------------------ Beneficiary (Name/Address) ------------------ ------------------ ------------------ ------------------ ------------------ Such Letter of Credit is more particularly described in the Letter of Credit Application and Agreement of Issuer which is attached hereto. Borrower and the Authorized Officer of Borrower signing this instrument hereby certify that: