Operating Facility Commitment definition

Operating Facility Commitment means the commitment by a Lender under the Operating Facility to provide the amount of Canadian Dollars (or the Equivalent Amount thereof in United States Dollars) set forth opposite its name in Schedule A annexed hereto, subject to any reduction in accordance with the terms hereof.
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Operating Facility Commitment means the maximum principal amount the Operating Facility Lender has agreed to make available to the Borrower under the Operating Facility as set forth in Schedule A, subject to reduction, adjustment, cancellation or termination in accordance with the terms hereof;
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Operating Facility Commitment means, with respect to the Operating Lender, its obligation to provide Operating Accommodations to the Borrower, subject to the terms of this Agreement, in an aggregate amount not at any time in excess of the amount set forth under the Operating Lender’s name on Schedule “A” (or in any Assignment and Assumption executed hereafter), as such amount may hereafter be cancelled, reduced, increased or terminated from time to time pursuant to the provisions of this Agreement;
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Examples of Operating Facility Commitment in a sentence

  • Schedule A to the Credit Agreement is hereby deleted in its entirety and replaced with Exhibit 1 attached hereto to, inter alia, provide that the Operating Facility Commitment and the Syndicated Facility Commitment of each Lender shall be the amount set forth opposite its name on such new Schedule A.

  • The Operating Lender agrees, up to the amount of the Operating Facility Commitment, on the terms and conditions herein set forth, to create and purchase Bankers’ Acceptances under the Operating Facility.

  • After any reduction in the Borrowing Base pursuant to this Section 2.8, the Total Syndicated Facility Commitment and the Operating Facility Commitment shall be reduced proportionately (having regard to the respective Commitments of each Syndicated Facility Lender and the Operating Facility Lender, and the Total Commitments, and without the need for any further consent or approval from such Lenders) so that the Total Commitment equals the most recent determination of the Borrowing Base.

  • The Operating Lender agrees (up to the amount of the Operating Facility Commitment), on the terms and conditions herein set forth, to make Advances under the Operating Facility at any time and from time to time on or after the Closing Date and prior to the Operating Facility Maturity Date.

  • Subject to Section 3.2, the undrawn portion of the Operating Facility Commitment Amount will be automatically cancelled at 5:01 p.m. (Toronto time) on the then current Term Conversion Date in respect of the Operating Lender.

  • In connection with the use or administration of SOFR or Term SOFR, the Agent (including as may be directed by the Operating Lender with respect to its Operating Facility Commitment) will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Document.

  • Any such notice of cancellation is irrevocable and the amount of the Total Commitment (and of the Total Syndicated Facility Commitment or the Operating Facility Commitment) so cancelled and reduced may not be reinstated hereunder.

  • The Borrower shall pay to the Agent for and on behalf of the Lenders under the Operating Facility a standby fee, which fee is deemed to have been fully earned and be nonrefundable in the amount of 0.25% per annum of the aggregate amount of the unused portions of the Operating Facility Commitment as at the date of calculation.

  • The Borrower agrees not to effect any Overdraft hereunder which would cause the Operating Borrowings to exceed the Operating Facility Commitment from time to time, and acknowledges that the Operating Lender reserves the right to refuse to honour any Overdraft hereunder which, in the opinion of the Operating Lender, would have the effect of causing the Operating Facility Commitment to be so exceeded.

  • Accommodations under the Operating Facility may be drawn down by the Borrower during the Revolving Period in Canadian Dollars or the Canadian Dollar Exchange Equivalent thereof in U.S. Dollars, or any combination thereof, to a maximum of the Operating Facility Commitment Amount.


More Definitions of Operating Facility Commitment

Operating Facility Commitment means, as to the Operating Lender, its obligation to make Operating Facility Loans to the Borrower pursuant toSection 2.1(1)(b), in an aggregate principal amount at any one time outstanding not to exceed the amount set forth, and opposite such Lender’s name on Schedule 1 under the caption Operating Facility Commitment or in the Assignment and Acceptance pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The Operating Facility Commitment of the Operating Lender shall beUS$100 million on the Closing Date (the “ Initial Operating Facility Commitment ”), as such amount may be adjusted from time to time in accordance with the terms of this Agreement.
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Operating Facility Commitment means the aggregate Commitments of the Operating Facility Lenders in respect of the Operating Facility set out in Schedule "A" hereto, as such Schedule may hereafter be amended from time to time.
Sample 1
Operating Facility Commitment means, as to the Operating Lender, its obligation to make Operating Facility Loans to the Borrower pursuant to Section 2.1(1)(b), in an aggregate principal amount at any one time outstanding not to exceed the amount set forth, and opposite such Lender’s name on Schedule 1 under the caption Operating Facility Commitment or in the Assignment and Acceptance pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. The Operating Facility Commitment of the Operating Lender shall be US$100 million on the Closing Date (the “Initial Operating Facility Commitment”), as such amount may be adjusted from time to time in accordance with the terms of this Agreement.
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Related to Operating Facility Commitment

  • Revolving Facility Commitment means, with respect to each Revolving Facility Lender, the commitment of such Revolving Facility Lender to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Revolving Facility Lender’s Revolving Facility Credit Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04, and (c) increased (or replaced) as provided under Section 2.21. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01 or in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment, as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments on the Closing Date is $50,000,000. On the Closing Date, there is only one Class of Revolving Facility Commitments. After the Closing Date, additional Classes of Revolving Facility Commitments may be added or created pursuant to Incremental Assumption Agreements.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Other Revolving Facility Commitments means Incremental Revolving Facility Commitments to make Other Revolving Loans.

  • Term Facility Commitment means the commitment of a Lender to make Term Loans, including Term B Loans and/or Other Term Loans.

  • Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • Holding facility means a designated area for the retention of

  • Revolving Facility Exposure means, for any Lender at any time, the sum of (i) the principal amount of Revolving Loans made by such Lender and outstanding at such time, and (ii) such Lender’s share of the LC Outstandings at such time.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Total Facility B Commitments means the aggregate of the Facility B Commitments, being €30,000,000 at the date of this Agreement.

  • Revolving Facility means the facility under which Borrower may request Bank to issue Advances, as specified in Section 2.1(a) hereof.

  • LNG facility means a terminal which is used for the liquefaction of natural gas or the importation, offloading, and re-gasification of LNG, and includes ancillary services and temporary storage necessary for the re-gasification process and subsequent delivery to the transmission system, but does not include any part of LNG terminals used for storage;

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Total Facility A Commitments means the aggregate of the Facility A Commitments, being €300,000,000 at the date of this Agreement.

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Initial Revolving Facility means the Initial Revolving Credit Commitments and the Initial Revolving Loans and other extensions of credit thereunder.

  • Incremental Revolving Facility has the meaning assigned to such term in Section 2.22(a).

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).

  • Generating Facility means the Generating Unit(s) comprising Seller’s power plant, as more particularly described in Section 1.02 and Exhibit B, including all other materials, equipment, systems, structures, features and improvements necessary to produce electric energy and thermal energy, excluding the Site, land rights and interests in land.

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

  • Facility A Commitment means, with respect to each Facility A Lender, the commitment, if any, of such Lender to make Facility A Revolving Loans and to acquire participations in Facility A Letters of Credit, Facility A Protective Advances and Facility A Swingline Loans, expressed as an amount representing the maximum possible aggregate amount of such Lender’s Facility A Revolving Exposure hereunder, as such commitment may be reduced or increased from time to time pursuant to (a) Section 2.09 and (b) assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Facility A Commitment is set forth on the Commitment Schedule, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Facility A Commitment, as applicable. The initial aggregate amount of the Lenders’ Facility A Commitments is $150,000,000.

  • Total Revolving Commitment means, at any time, the sum of the Revolving Commitments at such time.

  • Total Utilization of Revolving Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing Issuing Bank for any amount drawn under any Letter of Credit, but not yet so applied), (ii) the aggregate principal amount of all outstanding Swing Line Loans, and (iii) the Letter of Credit Usage.

  • Equity Commitment (a) options, warrants, convertible securities, exchangeable securities, subscription rights, conversion rights, exchange rights, or other Contracts that could require a Person to issue any of its Equity Interests or to sell any Equity Interests it owns in another Person; (b) any other securities convertible into, exchangeable or exercisable for, or representing the right to subscribe for any Equity Interest of a Person or owned by a Person; (c) statutory pre-emptive rights or pre-emptive rights granted under a Person’s Governing Documents; and (d) stock appreciation rights, phantom stock, profit participation, or other similar rights with respect to a Person.