Accordion Commitment definition

Accordion Commitment means, with respect to any Lender Group, the aggregate amount of any increase in such Lender Group’s Commitment pursuant to Section 2.02(c) of the Funding Agreement consented to by the applicable Managing Agent on behalf of the Lenders in such Lender Group.

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Accordion Commitment means the commitments of the Accordion Lenders to fund the Accordion Amount as set forth in subsection 2.1(f).

Accordion Commitment means Fifty Million Dollars ($50,000,000).

Examples of Accordion Commitment in a sentence

Any such increase in the Facility Limit shall become effective on the applicable Facility Increase Effective Date, and on such Facility Increase Effective Date, each Purchaser’s Commitment (if any) shall be increased by an amount equal to the product of (x) such Purchaser’s Accordion Commitment Percentage multiplied by (y) the amount by which the Facility Limit is increased on such date.
This clause (b) shall not be construed to permit any Committed Purchaser to assign any portion of its Commitment or Accordion Commitment to any Conduit Purchaser.
If the Facility Limit is terminated in whole, the Commitment and Accordion Commitment of each Purchaser shall be automatically terminated and reduced to zero.
Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Purchaser’s rights and obligations under this Agreement with respect to the Capital or the Commitment (including for this purpose the Accordion Commitment) assigned.

More Definitions of Accordion Commitment

Accordion Commitment means, as applicable, that portion of any Lender’s commitment issued or increased under Section 2.15.

Accordion Commitment has the meaning given to that term in Clause 2.2 (Accordion Increase in Commitments). Accordion Increase has the meaning given to that term in Clause 2.2 (Accordion Increase in Commitments).

Accordion Commitment means, with respect to each Lender, the commitment of such Lender, subject to the terms and conditions set forth herein, to make an Accordion Advance hereunder on the Accordion Funding Date, as set forth in Schedule I hereto.

Accordion Commitment means in relation to a Lender which is an Accordion Lender, the amount set opposite its name under the heading “Accordion Commitment” in the relevant Accordion Notice and the amount of any other Accordion Commitment relating to the Facilities transferred to it under this Agreement or assumed by it in accordance with clauses 2.3 to 2.11 (Increase) to the extent not cancelled, reduced or transferred by it under this Agreement.

Accordion Commitment means, as to each Person which has elected, in its sole and absolute discretion, in writing to become an Accordion Lender, its obligation to make Accordion Loans to the Borrower pursuant to Section 2.01(b) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on a schedule to be provided upon the inclusion of the Accordion Facility hereto, as such amount may be adjusted from time to time in accordance with this Agreement.

Accordion Commitment means, for any Purchaser, the amount specified as such Purchaser’s “Accordion Commitment” on Schedule I, as such Accordion Commitment is thereafter assigned or modified in accordance with this Agreement. Each Purchaser’s Accordion Commitment shall be reduced by the amount, and at the time, that such Purchaser’s Commitment is increased pursuant to Section 2.03(g), and thereafter such Purchaser’s Accordion Commitment shall equal the amount reflected in Schedule I as updated in accordance with Section 2.03(g).

Accordion Commitment has the meaning set out in Section 2.20(a).