Overall Commitments definition
Examples of Overall Commitments in a sentence
The agreements in this Section shall survive the resignation of the Administrative Agent and the L/C Issuer, the replacement of any Lender, the termination of the Overall Commitments and the repayment, satisfaction or discharge of all the other Obligations.
All of the Borrower’s obligations under this Article III shall survive termination of the Overall Commitments and repayment of all other Obligations hereunder.
Company and Borrowers shall initially allocate the Overall Commitments to Canadian Borrower, Australian Borrowers and U.S. Borrower, subject to the provisions of this Agreement.
Except as otherwise provided in this subsection 10.1, no Lender shall, as between any Borrower and such Lender, be relieved of any of its obligations hereunder as a result of any sale, assignment, transfer or negotiation of, or any granting of participations in, all or any part of the Loans, the Overall Commitments, Letters of Credit or participations therein or Bankers' Acceptances or the other Obligations owed to such Lender.
The amounts of the Canadian Allocation, the Australian Allocation, the U.S. Allocation, and the Overall Commitments shall be reduced from time to time by the amount of any reductions thereto made pursuant to subsection 2.4A.
Administrative Agent shall have received evidence satisfactory to it that the Plutonic Credit Agreement and all borrowings and commitments thereunder shall have been terminated and that the Company shall have issued irrevocable instructions to cause to be applied borrowings hereunder up to $175 million of the Overall Commitments to repay in full all outstanding obligations thereunder.
If the Overall Commitments are increased in accordance with this Section, the Administrative Agent and the Borrower shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase.
The aggregate amount of the Overall Commitments may be permanently reduced from time to time in accordance with subsection 2.4.
The amounts payable out of Surplus Cash to Committed Banks under Clause 8.6(f) shall be paid to them pro rata to their respective Overall Commitments on the date at which such payments are initially to be made, provided that no payments shall be made to Committed Banks under Clause 8.6(f) in respect of any Trading Period until the Reducing Banks and the Non-Committed Banks have received the full amount to which they are then entitled under Clauses 8.6(c) and (d) in respect of such period.
Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time, request an increase in the Overall Commitments by an amount (for all such requests) not exceeding $40,000,000; provided that (i) any such request for an increase shall be in a minimum amount of $10,000,000, and (ii) the Borrower may make a maximum of two such requests.