Parent Commitment definition

Parent Commitment means the Parent’s agreement, in exchange for the retention of its Interests as provided herein and other good and valuable consideration, subject to the occurrence of the Effective Date on or before June 21, 2019, to (a) consent to the Debtor’s assumption of the License Agreement in accordance with section 365(c)(a) of the Bankruptcy Code; (b) agree to renewal of the License Agreement for another term, which shall be without prejudice to the parties’ rights to revise and renegotiate in good faith the terms and conditions of the License Agreement after the Effective Date; (c) consent to the release and payment of the full amount of the Market Contribution Accrual for the purpose of funding the Reorganization Business Plan; and

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Parent Commitment means the obligation of the Lender to make Parent Loans to the Parent in an aggregate principal amount at any one time outstanding up to but not exceeding $3,750,000."

Parent Commitment in respect of any Lender, such Lender's undertaking during the applicable Commitment Period to make Revolving Credit Loans, subject to the terms and conditions hereof, in an aggregate outstanding principal amount not exceeding the Parent Commitment Amount of such Lender.

Examples of Parent Commitment in a sentence

• Parent and Acquisition Sub shall use their commercially reasonable efforts to comply with their respective obligations, and enforce their respective rights, under the Commitment Letter, the Parent Consent Letter and Parent Commitment Letter and shall cause RHJI to comply with its obligations under the Equity Commitment.

• Parent, as of the Effective Date has, and will have at all times prior to the Capital Commitment Expiration Date, the financial capacity to pay and perform its obligations under this Agreement, and to make all Contributions contemplated hereby and to otherwise fund the Parent Commitment (assuming, for the purposes of this representation, that all conditions to each Contribution are satisfied or waived).

• Subject to the terms and conditions of this Agreement and the DVSL Operating Agreement, Spring Lane will make Capital Contributions to DVSL in an aggregate amount up to the Spring Lane Commitment, and the Parent will make Capital Contributions to DVSL in an aggregate amount up to the Parent Commitment.

• As of the date of this Agreement, (x) the Parent Commitment Letter and the Fee Letters have not been amended, waived or modified, and (y) the commitments contained in the Parent Commitment Letter have not been withdrawn, modified or rescinded in any respect.

• Each Lender shall be liable to the Issuing Bank for its Parent Commitment Percentage of the unreimbursed amount of any draft drawn and honored under each Letter of Credit.

• During the Parent Commitment Period, Parent may borrow, prepay in whole or in part and reborrow under the Parent Commitment, all in accordance with the terms and conditions of this Agreement.

• The Parent Commitment Fee shall be calculated on the basis of a 360 day year for the actual number of days elapsed.

• In such event, Parent and Spring Lane, each in its sole discretion, may by notice to DVSL (i) suspend or terminate its obligation to make any Subsequent Contributions as to the Project, or (ii) suspend or terminate the Parent Commitment or Spring Lane Commitment, respectively.

• As of the date of this Agreement, except for the Parent Commitment Letter and, so long the provisions of the Fee Letters would not adversely affect the amount or availability of the Financing on the Closing Date, the Fee Letters, there are no side letters or other contracts, instruments or other commitments, obligations or arrangements (whether written or oral) to which Parent or any of its Affiliates is a party containing conditions precedent to the funding of the full amount of the Financing.

• Simultaneously with each reduction of the Aggregate Parent Commitment Amount under this Section, Parent shall pay the Parent Commitment Fee accrued on the amount by which the Aggregate Parent Commitment Amount has been reduced.

More Definitions of Parent Commitment

Parent Commitment. As the parents or legal guardians of the player below, we understand and agree: (a) we have received, read and agree to comply with the DTBC Policies and Procedures; (b) to meet our financial obligations to the team and to the DTBC in a timely manner, understand that the financial obligations continue if we leave the team prior to the conclusion of the term of this Contract and understand that we will not receive a reimbursement of our fees or dues or a release from the team if we decide not to complete the term of this contract;

Parent Commitment means the amount equal to (a) the total aggregate amount of Capital Contributions funded by Parent as of March 10, 2023 plus (b) US$1,500,000.

Parent Commitment means the commitment of the Parent to make or otherwise fund any revolving loan under the Parent Credit Agreement.

Parent Commitment means US$26,330,434.

Parent Commitment means the Parent’s agreement, in exchange for the retention of its Interests as provided herein and other good and valuable consideration, subject to the occurrence of the Effective Date on or before June 21, 2019, to (a) consent

Parent Commitment means, as of any date of determination, the funding commitment of the Parent Lenders under the Parent Credit Agreement as of such date.