Commitment Re-allocation definition

Commitment Re-allocation means the primary syndication of the Term Loan Commitments and/or Term Loans and the assignment of the Term Loan Commitments and/or Term Loans related thereto in connection with the offering of the right to participate in a portion of the Term Loan Commitments and/or Term Loans to the Prepetition Secured Parties (other than the Backstop Parties, the “Other Prepetition Secured Parties”) contemplated in the Restated Backstop Commitment Letter.

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Commitment Re-allocation the primary syndication of the Commitments and the assignment of the Commitments related thereto in connection with the offering of the right to participate in a portion of the Commitments to the Prepetition First Lien Lenders (other than the Commitment Parties, the “Other Prepetition Secured Parties”) as provided in, and subject to the limitations set forth in, the Commitment Letter; provided that, notwithstanding the provisions set forth in the Commitment Letter, the allocation of the Commitments pursuant to the Commitment Re-Allocation to the Prepetition First Lien Lenders that are members of the Ad Hoc First Lien Group (as defined in the Commitment Letter) shall be based on each Prepetition First Lien Lender’s respective pro rata shares of the Prepetition First Lien Secured Debt as set forth in the Verified Statement of Ad Hoc First Lien Group Pursuant to Rule of Bankruptcy Procedure 2019 [Docket No. 1520], or as may be agreed upon by the Required Commitment Parties. “Commitment Termination Date”: the earliest to occur of (i) the date on which the Commitments are permanently reduced to zero in accordance with Section 4.4(c), (ii) the date on which the Borrower voluntarily terminates in full the Commitments pursuant to Section 4.4(b), (iii) the date on which the Commitments are terminated pursuant to Section 9, (iv) the Maturity Date and (v) the Consummation Date. “Commodities Agreement”: in respect of a Person, any commodity futures contract, forward contract, option or similar agreement or arrangement (including derivative agreements or arrangements), as to which such Person is a party or beneficiary. “Commonly Controlled Entity”: an entity, whether or not incorporated, which (a) is under “common control” (within the meaning of Section 4001 of ERISA) with the Borrower or

Examples of Commitment Re-allocation in a sentence

Notwithstanding the foregoing, any Backstop Party may assign its Term Loan Commitment and/or Term Loans to one or more Other Prepetition Secured Parties pursuant to the Commitment Re-allocation, in each case, without the consent of the Borrower or the Administrative Agent.
After receiving a Commitment Reallocation Request, the Administrative Agent shall notify each affected Lender of such Commitment Reallocation Request, and such Commitments shall be adjusted as contemplated thereby on the date set forth in such Commitment Reallocation Request.
In no event shall at any time U.S. Revolver Commitments be less than Canadian Revolver Commitments, including after any Commitment Reallocation under Section 2.1.8, any Revolver Commitment Increase under Section 2.1.7, any Commitment reduction or termination under Section 2.1.4 or any other adjustment in Commitments hereunder.
Within one Business Day prior to the Effective Date, each of FCX and FI, at its own expense, shall execute and deliver to the Administrative Agent Promissory Notes payable to the order of each Bank, dated as of June 30, 1995, in a principal amount equal to such Bank's Commitment after giving effect to the Commitment Reallocation, substantially in the form of Exhibits A-1 and A-2 to this Amendment.
Harvest shall not permit its Tangible Net Worth at any time to be less than (a) as of any date prior to the Commitment Reallocation Trigger Date, Sixty Million and No/100 Dollars ($60,000,000).
Each such notice shall specify (i) the Total Acquisition Loan Commitment and Total UK Acquisition Loan Commitment as of the date of such notice, (ii) each Borrower's Total Acquisition Loan Commitment and Total UK Acquisition Loan Commitment, as the case may be, after giving effect to such notice, and (iii) the effective date of such reallocation, which date shall be no less than ten (10) Business Days after the date of such notice (the "Commitment Reallocation Date").
The respective Pro Rata shares of the Lenders shall thereafter, to the extent applicable, be determined based on such reallocated amounts (subject to any subsequent changes thereto), and Agent and the affected Lenders shall make such adjustments as Agent shall deem reasonably necessary so that the outstanding Loans and LC Obligations of each Lender equals its Pro Rata share thereof after giving effect to the Commitment Reallocation.
The Administrative Agent shall keep a record of each Commitment Reallocation Request and the Sub-Commitment of each Borrower as in effect on each date and such record shall be conclusive, in the absence of manifest error.
The Company’s written request for a Canadian Commitment Reallocation shall be a deemed representation and certification by the Company to the Administrative Agent as to the Credit Parties’ compliance with preceding clauses (v) and (ix) above, which certification shall be deemed recertified to the Administrative Agent by the Company on and as of the Reallocation Date.
Upon giving effect to a Commitment Reallocation Request, the sum of the Acquisition Loan Commitments and UK Acquisition Loan Commitments shall not exceed the Total Acquisition Commitment in effect at that time.

More Definitions of Commitment Re-allocation

Commitment Re-allocation. “Parent”: any of HGH, Holdings or any Parent Entity.