New Money Commitments definition

New Money Commitments means credit facilities or other facilities under which credit exposures may arise provided by any Senior Finance Party to the Principal Borrower and/or a Group Company after the date of this deed (including any onloan thereof from the Principal Borrower or a similar special purpose vehicle to a Group Company) in addition to those which the Senior Finance Parties are committed to provide under the Senior Finance Documents in force as at the date of this deed (but credit exposures in relation to any Hedging Agreement entered into after the date of this deed will not be New Money Commitments);
View Source
New Money Commitments means credit facilities (or other facilities under which credit exposures may arise) provided by any Senior Finance Party to a Group Company after the date of this deed in addition to those which the Senior Finance Parties are committed to provide under the Senior Finance Documents in force as at the date of this deed (but credit exposures in relation to any Hedging Agreement entered into after the date of this deed will not be New Money Commitments);
View Source
New Money Commitments shall be defined as (a) $150,000,000 minus (b) the face amount of the Refinanced L/Cs. Unused Commitment Fee: 0.5% per annum on daily average unused amount of the New Money Commitments payable monthly in arrears and on the Maturity Date.
View Source

Examples of New Money Commitments in a sentence

  • The New Money Commitments in respect of the New Money Loans shall terminate automatically immediately after the making of the New Money Loans on the Funding Date.

  • In the event the New Money Commitments terminate on any date other than the last day of a calendar month, the Borrower agrees to pay to the DIP Agent, for the account of each Lender (excluding any Defaulting Lender), on the date of such termination, each such Lender’s Unused Commitment Fee due for the period from the last day of the immediately preceding calendar month to the date such termination occurs.

  • The Borrower may, at any time upon at least three Business Days' notice to the New Money Lender Agent, terminate in whole or reduce in part the Unused New Money Commitments; provided that each partial reduction of the New Money Commitments shall be in an aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof, and such termination and reduction shall ratably and permanently reduce each New Money Lender's New Money Commitment.

  • All New Money Commitments shall terminate at 5:00 p.m. (New York City time) on the Termination Date if the initial Borrowing has not occurred by such time.

  • The Borrower shall pay to the DIP Lenders on the Closing Date an amount equal to 3.00% of the aggregate amount of the DIP New Money Commitments, which such amount shall be payable-in-kind as an increase to the principal amount of the DIP Loans.

  • Each reduction of the New Money Commitments shall be made ratably among the Lenders in accordance with their respective New Money Commitments.

  • Notwithstanding the foregoing, no voluntary prepayment of Roll-Up Loans may be made until all New Money Loans and all other Obligations in respect thereof have been paid in full in cash and all New Money Commitments have been terminated.

  • The aggregate amount of the New Money Commitments shall be reduced by the amount of each Borrowing of New Money Loans made hereunder immediately upon the funding thereof, and the amount of each Lender’s applicable New Money Commitment shall be automatically and permanently reduced by the amount of the related New Money Loan funded by such Lender pursuant to Section 2.02(b) immediately upon the funding thereof.

  • Any termination or reduction of the New Money Commitments shall be permanent.

  • Borrower and Holdings shall obtain by October 15, 2008 an order from the Bankruptcy Court authorizing the payment to the Administrative Agent for the benefit of the Lenders of an amendment fee equal to 0.75% of the aggregate amount of such Lenders’ outstanding New Money Loans and unused New Money Commitments.


More Definitions of New Money Commitments

New Money Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s New Money Commitment, if any, is set forth on Appendix A-1 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof.
View Source
New Money Commitments means the aggregate of all such New Money Commitments for all Lenders, and the aggregate amount of the New Money Commitments as of the Effective Date is $50,000,000.
View Source
New Money Commitments is defined in the Intercreditor Agreement.
View Source