Forward Purchase Commitments definition
Forward Purchase Commitments means those agreements for the acquisition of a Project or Projects (or of ownership interests therein) for an agreed and specified purchase price entered into by Borrower, another member of the Consolidated Group or an Investment Affiliate which have become unconditional due to the expiration of any due diligence period or other right of purchaser to terminate such agreement, other than as a result of a default by the seller, a casualty or condemnation or the failure of another customary closing condition.
Examples of Forward Purchase Commitments in a sentence
For the avoidance of doubt, except as provided above with respect to Forward Purchase Commitments or under “Additional Investments” below, the Borrower may enter into a Commitment with respect to a Portfolio Asset only when the Portfolio Asset is funded and at least 48 hours have thereafter elapsed.
For the avoidance of doubt, except as provided above with respect to Forward Purchase Commitments, the Issuer may enter into a Commitment with respect to a Collateral Debt Obligation only when the Collateral Debt Obligation is funded and at least 48 hours have thereafter elapsed.