Project Equity Commitment definition

Project Equity Commitment means $670,000,000 as such amount may be (i) increased from time to time by a Commitment Increase Amendment delivered by the Sponsor to the Collateral Agent and the Administrative Agent in accordance with Section 2.01(c)(ii) or (ii) decreased from time to time by a Commitment Decrease Amendment delivered by the Sponsor to the Collateral Agent and the Administrative Agent in accordance with Section 2.01(c)(iv) and reasonably acceptable to the Administrative Agent; provided that in no event shall the Project Equity Commitment at any time be less than (x) the Reserve Equity Amount (except after payment in full of the Remaining Equity Commitment in connection with a Default Funding Contribution) at such time less (y) the Project Receipt Payments held at such time by the Borrower in cash or cash equivalents net of all accounts payable in respect of Project Costs during the next 45-day period (for the avoidance of doubt, the amount calculated pursuant to this clause (y) shall not be less than zero); provided further that, to the extent applicable, at all times (i) after the Borrower incurs Project Costs in respect of the Additional Facilities in excess of $152,000,000 but equal to or less than $200,000,000, the Project Equity Commitment shall increase by an amount equal to 50% of the Project Costs incurred by the Borrower in respect of the Additional Facilities in the amount of such excess and (ii) prior to Completion, after the Borrower incurs Project Costs in respect of the Additional Facilities in excess of $200,000,000 up to $220,000,000, the Project Equity Commitment shall increase by an amount equal to 1/3 of the Project Costs incurred by the Borrower in respect of the Additional Facilities in the amount of such excess; provided further that equity contributed to the Borrower prior to the Closing Date in the amount of $129,940,628 shall count as Equity Contributions provided by the Sponsor and be credited against the Project Equity Commitment (provided that if any such contributed amounts are returned to the Sponsor or any Affiliate thereof at any time, such returned amounts shall be debited to the Project Equity Commitment).
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Project Equity Commitment has the meaning assigned to such term in the Equity Commitment Agreement.
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Related to Project Equity Commitment

  • Equity Commitment means (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 Organizational Documents; and (d) stock appreciation rights, phantom stock, profit participation, or other similar rights with respect to a Person.

  • SBIC Equity Commitment means a commitment by the Borrower to make one or more capital contributions to an SBIC Subsidiary.

  • Equity Commitment Letter has the meaning set forth in Section 3.4(a).

  • Equity Commitment Letters has the meaning set forth in Section 6.6(a).

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

  • Revolving Facility Commitment means, with respect to any Revolving Facility Lender, such Lender’s commitment to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Lender’s Revolving Facility 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 2.20. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01 to the Original Credit Agreement, or in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment (or Incremental Revolving Facility Commitment), as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments as of the Closing Date is $100,000,000. 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.

  • Liquidity Commitment means, as to each Liquidity Provider, its commitment under the Liquidity Agreement (which generally will equal 102% of its Commitment hereunder).

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

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

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

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Initial Commitment means, as to the Lender, its obligation to make an Initial Loan to the Borrower pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set forth opposite the Lender’s name in Schedule 1.01A under the caption “Initial Commitment”, as such amount may be adjusted from time to time in accordance with this Agreement (including Section 2.14). The initial aggregate amount of the Initial Commitments is $75,000,000.

  • Existing Commitment shall have the meaning provided in Section 2.17.

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

  • LC Commitment Amount means $600,000,000 as the same may be reduced permanently from time to time pursuant to Section 2.08.

  • L/C Commitment Amount has the meaning given to that term in Section 2.3.(a).

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Restatement Date is $265,000,000.

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

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Backstop Commitment has the meaning set forth in Section 2.2(b).

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $25,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Designated Revolving Commitments means the amount or amounts of any commitments to make loans or extend credit on a revolving basis to the Company or any of its Restricted Subsidiaries by any Person other than the Company or any of its Restricted Subsidiaries that has or have been designated (but only to the extent so designated) in an Officers’ Certificate delivered to the Trustee as “Designated Revolving Commitments” until such time as the Company subsequently delivers an Officers’ Certificate to the Trustee to the effect that the amount or amounts of such commitments shall no longer constitute “Designated Revolving Commitments.”

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Term Loan Commitment Amount means, (a) as to any Lender that is a Lender on the Closing Date, the dollar amount set forth opposite such Lender’s name on the Commitment Annex under the column “Term Loan Commitment Amount”, as such amount may be adjusted from time to time by any amounts assigned (with respect to such Lender’s portion of Term Loans outstanding and its commitment to make advances in respect of the Term Loan) pursuant to the terms of any and all effective assignment agreements to which such Lender is a party, and (b) as to any Lender that becomes a Lender after the Closing Date, the amount of the “Term Loan Commitment Amount(s)” of other Lender(s) assigned to such new Lender pursuant to the terms of the effective assignment agreement(s) pursuant to which such new Lender shall become a Lender, as such amount may be adjusted from time to time by any amounts assigned (with respect to such Lender’s portion of Term Loans outstanding and its commitment to make advances in respect of the Term Loan) pursuant to the terms of any and all effective assignment agreements to which such Lender is a party.

  • Total Facility B Commitments means the aggregate of the Facility B Commitments, being US$830,000,000 at the date of this Agreement.