Deposit Commitment definition

Deposit Commitment means, with respect to each Deposit Lender, the commitment of such Deposit Lender to make Deposit Loans and to acquire participations in Deposit Letters of Credit hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.07 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.04. The initial amount of each Deposit Lender’s Deposit Commitment is set forth on Schedule 1 or in the Assignment and Assumption pursuant to which such Deposit Lender shall have assumed its Deposit Commitment, as applicable. The initial aggregate amount of the Deposit Commitments is $500,000,000.
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Examples of Deposit Commitment in a sentence

  • On the Amendment Effective Date (as defined below), each Person with a Synthetic A Deposit Commitment shall deposit in the Synthetic Deposit Account (via the Administrative Agent) an amount in Dollars equal to such Person’s Synthetic A Deposit Commitment.

  • On the Closing Date, the Issuing Lender with respect to the Existing Letters of Credit shall be deemed, without further action by any party hereto, to have granted to each Lender, and each Lender shall be deemed, without further action by any party hereto, to have acquired from such Issuing Lender, a participation in each Existing Letter of Credit and the related LC Exposure in the proportion its respective Deposit Commitment bears to the aggregate amount of the Deposit Commitments.

  • In connection with each assignment of a Synthetic Deposit Commitment, the Synthetic Deposit of the assignor Synthetic LC Lender shall not be released, but shall instead be purchased by the relevant assignee and continue to be held for application (to the extent not already applied) in accordance with Article III to satisfy the relevant Eligible Assignee's obligations in respect of Synthetic Letters of Credit.

  • Pursuant to the terms of the Escrow Agreement, within two (2) Business Days of the date of this Agreement: (a) FE shall have deposited the FE Escrowed Funds with the Escrow Agent by wire transfer of immediately available funds to an account designated by the Escrow Agent; and (b) the Mortgage Lenders shall have entered into, and delivered to the Company (with a copy to the Escrow Agent), the Deposit Commitment Letter.

  • Promptly upon any such application of the Synthetic L/C Deposits pursuant to this Section 2.03(d)(ii), the Synthetic L/C Deposit Commitment of each Synthetic L/C Lender shall be reduced by the amount of its Synthetic L/C Deposit so applied.

  • Each Additional Tranche A Lender will fund such portion of its New Tranche A Credit-Linked Deposit Commitment that cannot be funded pursuant to the exchange of an Exchanged Deposit of such Lender by transferring the amount thereof to the Administrative Agent on the Amendment Effective Date in immediately available funds.

  • Subject to the terms and conditions set forth herein, (i) each Deposit Lender, severally to the extent of its Deposit Commitment, agrees to assume LC Exposure for the account of the Borrower and (ii) the Borrower may request the issuance of Letters of Credit for its own account, in a form reasonably acceptable to the Agent and the Issuing Lender, at any time and from time to time during the LC Availability Period.

  • Upon the deposit of the CP Escrowed Funds with the Escrow Agent, the Deposit Commitment Letter shall terminate in accordance with its terms.

  • In consideration and furtherance of the undertaking of the Synthetic Issuing Bank, each Synthetic L/C Lender severally agrees, on the terms and conditions hereinafter set forth, to remit to the Administrative Agent on the Effective Date an amount in Dollars not to exceed such Synthetic L/C Lender’s Synthetic L/C Deposit Commitment (each such amount, a “Synthetic L/C Deposit”).