Off-Balance Sheet Commitments definition
Off-Balance Sheet Commitments means all binding commitments of the Credit Parties for the acquisition of items of Product, including cash flow commitments, negative pick-up obligations and print and advertising commitments which are not, pursuant to GAAP, reflected on the Consolidated balance sheet of the Borrower, both conditional and unconditional.
Off-Balance Sheet Commitments means all binding, irrevocable commitments of the Credit Parties for the acquisition of items of Product, including cash flow commitments, Program Acquisition Guarantees, Negative Pick-up Obligations and print and advertising commitments which are not, pursuant to GAAP, reflected on the Consolidated balance sheet of LGEC; provided, however, that such obligations for print and advertising commitments shall not be included in Off-Balance Sheet Commitments until principal photography has commenced for the item of Product to which such commitment relates provided, further, that with respect to an item of Product for which Artisan has committed to provide a portion of the production costs in connection with an item of Product in connection with the AFI Facility, Off-Balance Sheet Commitments in respect of Artisan's commitment for such item of Product shall be reduced (but not below zero) by any amounts in the approved budget of such Product (e.g. overhead costs and producers' fees) which are payable to Artisan for its own account..
Off-Balance Sheet Commitments means any contingent obligation which exceeds One Million Dollars ($1,000,000) in connection with any of the following transactions: (i) an operating lease with an initial term of greater than one (1) year, (ii) a letter of credit, (iii) a guaranty of an obligation of a subsidiary, customer or supplier (excluding guarantees of obligations incurred in Tenant's normal course of business and guarantees of obligations otherwise included in Consolidated Total Liabilities) and (iv) any transaction similar in nature to those transactions described in items (i) through (iii) above where the contingent obligation in connection with such transaction exceeds $1,000,000. For purposes of calculating from time to time the aggregate amount of Off Balance Sheet Commitments, any and all contingent obligations in connection with the financing for the Improvements to and/or construction of facilities located in any state, including the contingent obligations under the Lease, shall be excluded from such calculation; provided, however, in no event shall the amount excluded exceed One Hundred Million Dollars ($100,000,000).
Examples of Off-Balance Sheet Commitments in a sentence
Permit the ratio (the "Leverage -------------- -------- Ratio") of (i) the sum of Consolidated Senior Debt plus Off-Balance Sheet Commitments less all Off-Balance Sheet Receivables and Borrowing Base credits that relate to items of Product that are the subject of such Off-Balance Sheet Commitments (but not more with respect to any particular items of Product than the related amount of Off-Balance Sheet Commitments) to (ii) Consolidated Capital Base to be greater than 5:1 at any time.
More Definitions of Off-Balance Sheet Commitments
Off-Balance Sheet Commitments means all commitments of the Credit Parties for the acquisition of items of Product, including cash flow commitments, negative pick-up obligations and print and advertising commitments which are not, pursuant to GAAP, reflected on the Consolidated balance sheet of the Parent; provided, however, that such obligations for print and advertising commitments shall not be included in Off-Balance Sheet Commitments until principal photography has commenced for the item of Product to which such commitment relates.