Second Lien Commitment definition

Second Lien Commitment has the meaning given to the term “Commitment” (or equivalent) in any Second Lien Facilities Agreement.

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Second Lien Commitment means, with respect to each Second-Lien Lender, the commitment of such Second-Lien Lender to make Second-Lien Loans as set forth on Schedule 2.01, or in the Assignment and Acceptance pursuant to which such Lender assumed its Second-Lien Commitment or Second-Lien Loans, as applicable, as the same may be reduced from time to time pursuant to Section 2.09 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04.

Second Lien Commitment means, with respect to any Lender, the commitment of such Lender to make a Second Lien Loan on the Closing Date in a principal amount equal to such Lender’s Second Lien Commitment Percentage of the Second Lien Committed Amount.

Examples of Second Lien Commitment in a sentence

• For the avoidance of doubt, the payment of the Second Lien Commitment Fee shall not prevent ASOF from exercising any and all remedies available to it for breach of this Agreement (including, without limitation, the termination hereof pursuant to Section 6.01 and enforcement of the specific performance provisions pursuant to Section 8.01).

• On the Over-allotment Closing Date, upon the payment by the Purchaser of the Over-allotment Purchase Price to the Company, the Company shall, at its option, deliver a certificate evidencing the Private Placement Warrants purchased on such date duly registered in the Purchaser’s name to the Purchaser or effect such delivery in book-entry form.

• The Company shall, by wire transfer of immediately available funds, pay to ASOF the Second Lien Commitment Extension Fee.

• The Incremental Second Lien Commitment Extension Fee shall be paid in three (3) installments as follows: (i) one million dollars ($1,000,000) payable upon execution of this Agreement; (ii) one million dollars ($1,000,000) payable on June 1, 2014; and (iii) one million dollars ($1,000,000) payable on July 1, 2014; provided that if the Closing occurs prior to any installment payment date, all unpaid installments shall be paid at Closing.

• The Incremental Second Lien Commitment Extension Fee shall be deemed to be fully earned upon execution of this Agreement.

• Parties agree to waive any requirement of the Affinion Parties to use reasonable best efforts to issue warrants to the Second Lien Commitment Parties as contemplated by the Second Lien Commitment Letter; provided that, for the avoidance of doubt, due to the failure to issue such warrants, the step-down in (i) the interest rate and (ii) the Early Termination Fee contemplated in the Second Lien Commitment Letter shall not apply.

• Subject to the terms and conditions set forth herein, each Second Lien Lender severally agrees to make a loan on the Closing Date to the Borrower (each, a “Second Lien Loan” and, collectively, the “Second Lien Loans”) in an amount denominated in Dollars equal to such Second Lien Lender’s Second Lien Commitment.

• The Second Lien Commitment of each Second Lien Lender shall be automatically and permanently reduced to $0 at 5:00 p.m. on the Closing Date upon the funding of the Second Lien Loans.

More Definitions of Second Lien Commitment

Second Lien Commitment as to any Lender, the obligation of such Lender, if any, to make or continue Second Lien Loans to the Borrower in a principal amount not to exceed the amount set forth under the heading "Second Lien Commitment" opposite such Lender's name on Schedule 1.1B. The aggregate amount of the Second Lien Commitments on the Restatement Effective Date is $120,000,000.

Second Lien Commitment means, as to each Second Lien Lender, its obligation to make a Second Lien Loan to the Borrower pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set forth opposite such Lender’s name in Schedule 2.01(a) under the caption “Second Lien Commitment” or in the Assignment and Assumption 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 aggregate amount of the Second Lien Commitments as of the Closing Date is $70,000,000.

Second Lien Commitment means, in respect of a Financing Party or a New Second Lien Syndicate Lender (as applicable), the amount of its (or its Affiliate’s) commitments in the Second Lien Facility as at the Closing Date; and

Second Lien Commitment means, as the context may require, the Second Lien Letter of Credit Commitment or the obligation of each Second Lien Lender to purchase its Second Lien Letter of Credit Participation Obligation or both.