Currency Commitment definition

Currency Commitment means, with respect to each Bank, the amount set forth on Schedule 2.1 hereof opposite such Bank’s name as its commitment for Loans in Dollars or one or more Alternate Currencies (and, for each Bank which is an Assignee, the amounts set forth in the Assignment and Assumption entered into pursuant to Section 10.7(c) as the Assignee’s Currency Commitment), as such amount may be reduced from time to time pursuant to Section 2.9(e) or in connection with an assignment to an Assignee, and as such amount may be increased pursuant to Section 2.15 or in connection with an assignment from an Assignor.
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Currency Commitment means, with respect to each Bank, the amount set forth onSchedule 2.1 hereof opposite such Bank’s name as its commitment for Loans in Dollars or one or more Alternate Currencies (and, for each Bank which is an Assignee, the amounts set forth in the Assignment and Assumption entered into pursuant to Section 10.7(c) as the Assignee’s Currency Commitment), as such amount may be reduced from time to time pursuant toSection 2.9(e) or in connection with an assignment to an Assignee, and as such amount may be increased pursuant to Section 2.15 or in connection with an assignment from an Assignor.
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Currency Commitment means, for any Currency with respect to each Liquidity Bank, as the context requires, (a) the commitment of such Liquidity Bank to make Advances in accordance with the Liquidity Agreement in such Currency such that after giving effect to any such Advances the portion of the Currency Net Liquidity Advances funded by such Liquidity Bank will not exceed the amount described in the following clause (b), and (b) an amount equal to (i) the amount in such Currency set forth opposite such Liquidity Bank’s name on Schedule 1 under the heading “Currency Commitments” (or in the case of an Liquidity Bank which becomes a party to this Agreement pursuant to an Assignment and Assumption Agreement, as set forth in such Assignment and Assumption Agreement), plus (ii) the amount of any increase to such Liquidity Bank’s Currency Commitment in such Currency consented to by such Liquidity Bank, minus (iii) the amount of any Currency Commitment in such Currency or any portion thereof assigned by such Liquidity Bank pursuant to an Assignment and Assumption Agreement, and minus (iv) upon any reduction of the Aggregate Currency Facility Limit in such Currency, an amount equal to the product of (A) the amount of such reduction of the Aggregate Currency Facility Limit in such Currency, times (B) a fraction the numerator of which is the Currency Commitment of such Liquidity Bank and the denominator of which is the Aggregate Currency Facility Limit for such Currency in each case before giving effect to such reduction; minus (v) for any Currency, the product of (A) the Participant Reduction Amount (if any) at such time times (B) a fraction the numerator of which is the Aggregate Currency Facility Limit for such Currency at such time and the denominator of which is the Aggregate Facility Limit for such Currency at such time, times (C) the Currency Fraction, in each case before giving effect to such reduction; provided that any reduction in the Currency Commitment as a result of sub-clause (v) shall only take effect commencing on the Settlement Date occurring in the calendar month immediately following the month in which the relevant Participant Event occurs and on each Settlement Date thereafter until the full amount of the Participant Reduction Amount has been deducted, in each case in accordance with the following formula: Reduction = [(CE + ORA) x CF] x 102% where:
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Examples of Currency Commitment in a sentence

  • In no event shall a Japan Local Currency Bank’s Japan Local Currency Commitment (or, if such Japan Local Currency Bank is also a Local Currency Bank, the sum of its Japan Local Currency Commitment and its Local Currency Commitment) at any time exceed such Bank’s Commitment.

  • In no event shall a Local Currency Bank’s Local Currency Commitment (or, if such Local Currency Bank is also a Japan Local Currency Bank, the sum of its Local Currency Commitment and its Japan Local Currency Commitment) at any time exceed such Bank’s Commitment.

  • The Total Japan Local Currency Commitment, and the Japan Local Currency Commitment for each Japan Local Currency Bank party to this Addendum as of the date hereof, are set forth on Schedule I.

  • The Total Local Currency Commitment, and the Local Currency Commitment and the Same Day Local Currency Commitment for each Local Currency Bank party to this Addendum as of the date hereof, are set forth on Schedule I.

  • The Associated Cost Rate so determined by the Local Currency Agent shall be the weighted average of the Additional Cost Rates of each of the Local Currency Banks, weighted in proportion that the Local Currency Commitment of each such Local Currency Bank bears to the Total Local Currency Commitment.

  • In addition, if such Added Bank acquires a Japan Local Currency Commitment, automatically upon and simultaneously with becoming an Added Bank, such Added Bank shall have acquired a ratable risk participation in all then outstanding Japan Local Currency Advances, with such ratable risk participation based on such Added Bank’s Japan Local Currency Commitment as a fraction of the aggregate of all Japan Local Currency Commitments.

  • In no event shall a Japan Local Currency Bank’s Japan Local Currency Commitment at any time exceed such Bank’s Commitment.

  • Within the limits of each Lender’s Alternative Currency Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01(b), prepay under Section 2.06, and reborrow under this Section 2.01(b).

  • Any partial reduction of the Revolving Credit Commitments and/or the Alternative Currency Commitments shall be in an aggregate minimum amount of $25,000,000 and integral multiples of $1,000,000 in excess of that amount, and shall reduce the Revolving Credit Commitment and/or the Alternative Currency Commitment of each Lender proportionately in accordance with its Pro Rata Share.

  • Notwithstanding the foregoing or any other provision of this Agreement, but subject to Article IX, a Lender with no Foreign Currency Commitment hereunder shall not be obligated to participate in any Foreign Currency Letter of Credit.

Related to Currency Commitment

  • Multicurrency Commitment means, with respect to each Multicurrency Lender, the commitment of such Multicurrency Lender to make Syndicated Loans, and to acquire participations in Letters of Credit and Swingline Loans, denominated in Dollars and in Agreed Foreign Currencies hereunder, expressed as an amount representing the maximum aggregate amount of such ▇▇▇▇▇▇’s Revolving Multicurrency Credit Exposure hereunder, as such commitment may be (a) reduced or increased from time to time pursuant to Section 2.08 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Multicurrency Commitment is set forth on Schedule 1.01(b), or in the Commitment Increase Supplement or Assignment and Assumption pursuant to which such Lender shall have assumed its Multicurrency Commitment, as applicable. The aggregate amount of the Lenders’ Multicurrency Commitments as of the Effective Date is $50,000,000.

  • Canadian Revolving Commitment means, as to each Canadian Revolving Lender, its obligation to make Canadian Revolving Loans to the Canadian Borrower pursuant to Section 2.01, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Canadian Revolving Lender’s name on Schedule 2.01, in the Assignment and Assumption or other agreement pursuant to which such Canadian Revolving Lender becomes a party hereto, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Transparency Commitment means the transparency commitment stipulated by the UK government in May 2010 (including any subsequent legislation) in accordance with which the Authority is committed to publishing its contracts, tender documents and data from invoices received;

  • Total Revolving Commitment means the sum of the Revolving Commitments of the Lenders as the same may be decreased or increased pursuant to the terms of this Agreement. As of the Closing Date, the amount of the Total Revolving Commitment is $250,000,000.

  • Canadian Commitment means the obligation of the Canadian Lender to (a) make Canadian Loans to the Canadian Borrowers and (b) issue Canadian Letters of Credit for the account of the Canadian Borrowers pursuant to Section 2.03, in an aggregate principal amount at any one time outstanding not to exceed C$15,000,000, as such amount may be adjusted from time to time in accordance with this Agreement.