Operating Commitment definition

Operating Commitment means the maximum amount of credit available to the Borrower under the Operating Credit Facility, being Cdn. $20,000,000 as of the date hereof.

Operating Commitment has the meaning given in Section 2.1(b).

Operating Commitment means the Operating Lender’s obligation hereunder to make Operating Loans to the Borrower pursuant to Section 2.1(c), in an aggregate principal amount at any one time outstanding not to exceed the amount set forth and opposite such Operating Lender’s name on Schedule A under the caption “Operating Commitment”, or in any Assignment and Assumption, as such amount may hereafter be increased, decreased, cancelled or terminated from time to time pursuant to this Agreement.

Examples of Operating Commitment in a sentence

• Dollars calculated at a rate per annum equal to the Applicable Margin (based on a year of 365 days) on the amount, if any, for each day by which the amount of the Outstanding Principal under the Operating Facility is less than the Operating Commitment.

• Subject to this Agreement, the Operating Lender hereby agrees to establish in favour of the Borrower a revolving credit facility (such facility, the “Operating Facility”) in a maximum aggregate principal amount not to exceed the Operating Commitment (or the Equivalent Amount in US Dollars), to be made available in accordance with this Agreement until the Operating Facility Maturity Date.

• The Parties agree that any Arbitration relating to an Operating Margin Failure as applied in connection with the St. Luke's Operating Commitment shall be on an expedited basis.

• Drafts identified in any one Acceptance Request shall be related to the same transaction, shall have the same maturity date and be shall be scheduled for presentment to each Lender in the same proportion that such Lenders' Operating Commitment bears to the aggregate Operating Commitment for all Lenders.

• The Parties shall expedite any Arbitration relating to an Operating Margin Failure as applied in connection with the St. Luke's Operating Commitment; provided, however, in no event shall discovery end or such Arbitration conclude before CPMC provides to the Arbitrator and the City the auditor's report required by Exhibit F.

More Definitions of Operating Commitment

Operating Commitment has the meaning specified in the definition of “Commitment”.

Operating Commitment means, at any time, in respect of the Operating Facility, Cdn. $6,500,000 (as reduced pursuant to Article 2).

Operating Commitment means, at any time, in respect of the Operating Facility, (i) for the period beginning on the Restatement Date and ending on the first anniversary of the Restatement Date (the "FIRST ANNIVERSARY"), up to U.S. $7,000,000;(ii) for the period beginning on the first day following the First Anniversary and ending on the second anniversary of the Restatement Date (the "SECOND ANNIVERSARY"), up to U.S.$6,000,000; (iii) for the period beginning on the first day following the Second Anniversary and ending on the Repayment Date, up to U.S.$5,000,000; in each case, as reduced pursuant to Article 2;

Operating Commitment. Lender's U.S. Alternate Operating Commitment" and "Lender's U.S. New Tranche Commitment" means, at any time, the relevant amount designated as such and set forth opposite the Lender's name on the signature pages and a "Lender's Commitment" means, at any time, the total of the amounts set forth opposite a Lender's name on the signature pages (as increased pursuant to Section 2.10 or reduced pursuant to Articles 2 and 3)."

Operating Commitment means, at any time, in respect of the Operating Facility, up to U.S. $3,000,000.00, as reduced pursuant to Article 2.

Operating Commitment of any Lender means the maximum portion of the Operating Facility which such Lender has agreed to make available to the Borrower as set out opposite its name under “Operating Commitment” in Schedule C, or as set forth in any Loan Assignment Agreement, as such amount may be modified from time to time pursuant to the provisions of this Agreement;

Operating Commitment means, at any time, in respect of the Operating Facility, notwithstanding the aggregate amount of each Lender's Operating Commitment, Cdn$6,500,000."