Commitments definition
Examples of Commitments in a sentence
The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required.
The Servicing Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower, shall maintain at one of its offices in the United States a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Banks, and the Commitments of, and principal amounts (and stated interest) of the Loans owing to, each Bank pursuant to the terms hereof from time to time (the “Register”).
In the event any Refinancing Revolver Commitments extend beyond the Commitment Termination Date, any applicable Refinancing Amendment may provide that the maturity date for Letters of Credit may be extended and the related obligations to issue Letters of Credit may be continued so long as the Bank issuing such Letter of Credit has consented to such extensions in their sole discretion (it being understood that no consent of any other Lender shall be required in connection with any such extension).
After giving effect to any Commitment Increase, the outstanding Initial Revolver Loans may not be held pro rata in accordance with the new Initial Revolver Commitments.
Each Loan shall be made as part of a Borrowing consisting of Loans of the same Type made by the Banks ratably in proportion to their respective Commitments.