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.
View Source
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..
View Source
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).
View Source

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.
View Source

Related to Off-Balance Sheet Commitments

  • Off-Balance Sheet Obligations means liabilities and obligations of the Borrower, any Subsidiary or any other Person in respect of “off-balance sheet arrangements” (as defined in Item 303(a)(4)(ii) of Regulation S-K promulgated under the Securities Act) which the Borrower would be required to disclose in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of the Borrower’s report on Form 10-Q or Form 10-K (or their equivalents) which the Borrower is required to file with the Securities and Exchange Commission (or any Governmental Authority substituted therefor).

  • Off-Balance Sheet Liabilities of any Person shall mean (i) any repurchase obligation or liability of such Person with respect to accounts or notes receivable sold by such Person, (ii) any liability of such Person under any sale and leaseback transactions that do not create a liability on the balance sheet of such Person, (iii) any Synthetic Lease Obligation or (iv) any obligation arising with respect to any other transaction which is the functional equivalent of or takes the place of borrowing but which does not constitute a liability on the balance sheet of such Person.

  • Off-Balance Sheet Obligation means, with respect to any Person, any Obligation of such Person under a synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing classified as an operating lease in accordance with GAAP, if such Obligations would give rise to a claim against such Person in a proceeding referred to in Section 6.01(h).

  • Off-Balance Sheet Arrangement means any transaction, agreement or other contractual arrangement to which an entity unconsolidated with the Borrower is a party, under which the Borrower has:

  • Interim Balance Sheet has the meaning set forth in Section 3.06.