Contractual Commitment definition

Contractual Commitment has the meaning Section 7.21 specifies.
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Contractual Commitment means a legally binding obligation under which the Council or County Council (as the case may be) is or will at some future date be obliged to expend money from a Commuted Sum.
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Examples of Contractual Commitment in a sentence

  • Should PREP A need fuel of the same type and quality as the fuel herein contracted for at any of its other plants, PREPA may request such deliveries as per the rules outlined in paragraph C of this Article, and FREEPOINT shall endeavor within its best efforts to deliver this order to such other plant, up to a maximu m of FREEPOINT' s Contractual Commitment under this Contract.

  • BROG and BRTI mutually represent and warrant that the only Prior Contractual Commitment which exists with regard to Production Interests owned or controlled by them as of the date of execution of this Agreement within the Dedicated Area described in Exhibit B hereto is the dedication to Cantera Resources, Inc.

Related to Contractual Commitment

  • Group Commitment means with respect to any Purchaser Group the aggregate of the Commitments of each Purchaser within such Purchaser Group.

  • Existing Commitment shall have the meaning provided in Section 2.17.

  • Ancillary Commitment means, in relation to an Ancillary Lender and an Ancillary Facility, the maximum Base Currency Amount which that Ancillary Lender has agreed (whether or not subject to satisfaction of conditions precedent) to make available from time to time under an Ancillary Facility and which has been authorised as such under Clause 7 (Ancillary Facilities), to the extent that amount is not cancelled or reduced under this Agreement or the Ancillary Documents relating to that Ancillary Facility.

  • Revolving Commitment means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • L/C Commitment means the commitment of the Issuing Bank to issue Letters of Credit pursuant to Section 2.23.