Employment Commitment definition

Employment Commitment means the number of employees to have been employed by or on behalf of the Subsidiary to which a Bidder commits for at least the first 2 years following the entry into force of the Sale Agreement, as noted in Annex C.
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Employment Commitment means Borrower’s commitment to add each year 33 full-time employees to the number of its full-time employees employed in the State of New York during the period commencing on the Closing Date and ending on the Term Loan Maturity Date; provided that the number required to be added in any year shall be prorated for any year that is not a full year.
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Employment Commitment. : shall mean commitment of the Incentive Beneficiary to ensure, for purposes of implementation of the Investment Project, employment of _
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Examples of Employment Commitment in a sentence

  • In consideration of the Employee Employment Commitment you will be granted, subject to the Stock Option Agreement attached hereto as Exhibit A (the “Stock Option Agreement,” an option (the “Retention Option”) to purchase up to 150,000 shares of the Company’s common stock at a price per share and on the terms and conditions set forth in the Stock Option Agreement.

  • All notices or demands given to the Company pursuant to this Award and the Plan shall be in writing and shall be deemed to have been sufficiently given if delivered by hand or sent by certified or registered mail, postage prepaid, addressed to SuRo Capital Corp., Attn: Chief Financial Officer at the principal office of the Company.6. No Employment Commitment; Tax Treatment; Status as Stockholder.

  • If Rackspace fails to create and retain at least fifty percent (50%) of the minimum number of full-time employee positions required to comply with the Employment Commitment in a given year then, at the option of the County, the County may terminate this Agreement.

  • In June 1999, in conjunction with the opening of a new call center facility, the Company entered into an Employment Commitment Agreement with the City of Pueblo, Colorado, whereby the Company received cash incentives of $968,000.

  • Since the Employment Commitment contains a requirement that the median salary be not less than $51,000, when calculating the Employment Commitment, the lowest paying jobs will be excluded from the number of jobs counted toward satisfying the Employment Commitment to the extent necessary to cause the median salary of all employees to equal or exceed $51,000.

  • Said termination shall be effective for the calendar year during which at least fifty percent (50%) of the minimum number of full-time employee positions required to comply with the Employment Commitment have not been created or retained by Rackspace.

  • For example, if Rackspace ceases business activity under Section 2.2, and at the same time breaches its Employment Commitment under Section 2.3, the taxing unit shall elect as its remedy whether to proceed under Section 2.2 or Section 2.3. In addition, Rackspace shall be entitled to a credit against such PILOT Payments for any previous PILOT Payments or property taxes it has paid to the Taxing Units.

  • On the Term Loan Maturity Date, if Borrower fails to achieve the Deployment Commitment or the Employment Commitment, Borrower will pay the amounts listed below corresponding to the percentage of the Deployment Commitment or Employment Commitment, as applicable, that Borrower has achieved.

  • GE and its Affiliates shall be deemed to satisfy the PR Employment Commitment with respect to any employee of the Puerto Rico Business who voluntarily terminates employment or is terminated for cause; provided however, GE or any of its Affiliates shall use commercially reasonable efforts to hire a replacement employee in Puerto Rico (“Replacement Employee”) as soon as is commercially practical after the date of termination of the PR Employee.

  • Upon said termination, all Grants for that calendar year and all Grants preceding the calendar year in which such failure to meet the Employment Commitment occurred shall be recaptured by a PILOT payment being paid by Rackspace to the County within ninety (90) calendar days from the date Rackspace is notified of termination and any applicable Cure Period has expired and a written notice of recapture from the County is received.

Related to Employment Commitment

  • Revolving Commitment Termination Date means the earliest of (i) November 3, 2017, (ii) the date on which the Revolving Commitments are terminated pursuant to Section 2.9 and (iii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise); provided, that, with respect to any Extended Revolving Commitment (and the Extended Revolving Loans made pursuant thereto), the termination date set forth in the Extension Offer with respect thereto.

  • Revolving Loan Commitment Termination Date means the earliest of

  • Term Loan Commitment Termination Date means the earliest to occur of (a) the Amendment No. 9 Effective Date, (b) the date the Term Loan Commitments are permanently reduced to zero pursuant to 2.01(b) and (c) the date of the termination of the Term Loan Commitments pursuant to Section 9.01.

  • Initial Term Loan Commitment means, in the case of each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(b) as such Lender’s Initial Term Loan Commitment. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $820,000,000.

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(i).

  • Revolving Credit Commitment Termination Date means the earliest to occur of (i) other than with respect to Extended Revolving Credit Commitments, August 28, 2022, (ii) the date the Revolving Credit Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14, (iii) the date of the termination of the Revolving Credit Commitments pursuant to Section 8.2, and (iv) solely with respect to any Extended Revolving Credit Commitments, the applicable Extended Maturity Date.

  • Total Term Loan Commitment means, at any time, the sum of the Term Loan Commitments of each of the Lenders at such time.

  • Scheduled Commitment Termination Date means, unless otherwise extended pursuant to and in accordance with Section 2.14, the Payment Date occurring in May 2024.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Commitment Termination Date means the earliest to occur of (a) the Maturity Date, (b) the date the Commitments are permanently reduced to zero pursuant to Section 2.8, and (c) the date of the termination of the Commitments pursuant to Article VIII.

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

  • Revolving Commitment Period the period from and including the Closing Date to the Revolving Termination Date.

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • New Term Loan Commitments shall have the meaning provided in Section 2.14(a).

  • Initial Term Commitment means, as to each Term Lender, its obligation to make an Initial Term Loan to the Borrowers pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 (as in effect on the Closing Date) under the caption “Initial Term Commitment,” as such amount may be adjusted from time to time in accordance with this Agreement. The initial aggregate amount of the Initial Term Commitments is $350,000,000.

  • Swingline Termination Date means the date which is 7 Business Days prior to the Termination Date.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • 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.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Total Initial Term Loan Commitment means the sum of the Initial Term Loan Commitments of all Lenders.

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

  • 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.

  • Total Commitment means, at any time, the sum of the Commitments of each of the Lenders at such time.

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).