Advance Commitment definition

Advance Commitment has the meaning specified in Section 2.02.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Advance Commitment means $13,884,000 in the case of Crestar and $6,116,000 in the case of NBD; provided, however that each Bank's Advance Commitment shall be reduced automatically by its Commitment Percentage of any Maximum Amount reduction resulting from a prepayment of the Advances pursuant to Section 2.10(e).

Advance Commitment means $12,148,500 in the case of Crestar and $5,351,500 in the case of NBD.

Examples of Advance Commitment in a sentence

• Not later than 10:00 a.m. (Toronto Time) on each Drawdown Date (or such later time as may be agreed in writing between the Guarantor and the Issuer), the Guarantor shall give to the Issuer a duly completed request for Advance in writing (each an “Advance Request”) completed in the form attached hereto as Schedule 1 specifying whether such request is for an Advance under the Initial Advance Commitment or an Advance under the Revolving Commitment (each such Advance, a “Revolving Advance”).

• Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date in an amount not to exceed the excess of (i) such Lender's Pro Rata Share of the Advance Commitment at such time over (ii) the aggregate principal amount of all Advances made by such Lender and outstanding at such time.

• During the Additional Advance Commitment Period, the Borrower may request Additional Advances from time to time hereunder, by giving notice (herein called an “Additional Advance Request”) to the Administrative Agent, each Lender, each Conduit Lender and the Collateral Agent and Account Bank, of the proposed Additional Advances not later than 11:00 a.m., New York time, three (3) Business Days prior to the proposed date of such Advances.

• The credit extended by the Lenders by making Advances under the Advance Facility shall be in an aggregate principal amount of Advances not to exceed at any time outstanding the excess of the Aggregate Commitment over the Letter of Credit Obligations outstanding at such time, as such amount may be reduced pursuant to Section 2.05, during the period from the date hereof to the Termination Date (the "Advance Commitment").

• Subject to the terms of this Agreement, the Issuer agrees to make available to the Guarantor, on an unsecured basis, an Intercompany Loan (the “Intercompany Loan”) in an aggregate amount equal to the Total Credit Commitment comprised of the Initial Advance Commitment and the Revolving Commitment.

More Definitions of Advance Commitment

Advance Commitment means $12,000,000 until December 28, 1997, and $9,000,000 as of December 29, 1997, and at all times thereafter; provided however that the Advance Commitment shall be automatically reduced by the amount of any prepayment required by Section 2.10(c).

Advance Commitment means a written acceptance and binding commitment to fund an Advance Request from Lender to Borrower.

Advance Commitment means Customer has entered into an Order with a Subscription Term of at least 12 months that includes an upfront payment by Customer against its future consumption of Services in an amount that entitles Customer to Pro or Enterprise tier Support, as specified by Pinecone at time of Order, for no additional charge beyond Fees for Services.

Advance Commitment means (a) from the date hereof until December 30, 1996, $12,148,500 in the case of Crestar and $5,351,500 in the case of NBD; (b) as of December 31, 1996, and until March 30, 1997, $10,065,900 in the case of Crestar and $4,434,100 in the case of NBD; and (c) as of March 31, 1997, and until June 29, 1997, $5,553,600 in the case of Crestar and $2,446,400 in the case of NBD; and (d) as of June 30, 1997, and at all times thereafter, $3,471,000 in the case of Crestar and $1,529,000 in the case of NBD; provided, however that each Bank's Advance Commitment shall be reduced automatically by its Commitment Percentage of any Maximum Amount reduction resulting from a prepayment of the Advances pursuant to Section 2.10(e).

Advance Commitment means Lender’s obligation to make Advance Loans to Borrower pursuant to Section 2.1, in the aggregate principal amount not to exceed $10,000,000 as to all Advance Loans made by Lender.

Advance Commitment means, for each Bank, the commitment of such Bank to make Advances, expressed as an amount representing the maximum aggregate principal amount of such Bank's Advances hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.8, and (b) reduced or increased from time to time pursuant to assignments by or to such Bank in accordance with Section 12.19. The initial amount of each Bank's Advance Commitment is set forth below the name of such Bank on the signature pages hereto under the caption "Advance Commitment," or in the Assignment and Acceptance Agreement pursuant to which such Bank shall have assumed its Advance Commitment, as applicable. The original aggregate principal amount of the Advance Commitment is $10,000,000.

Advance Commitment means, as to each Lender, the amount set forth ------------------ opposite such Lender's name on Schedule I-A hereto under the caption Advance Commitment or, if such Lender has entered into one or more ------------------ Assignment and Acceptances, the amount set forth for such Lender with respect thereto in the Register maintained by the Agent pursuant to Section 10.07 hereof, in each case as such amount may be reduced pursuant to Section 2.04.