Verbal Commitment definition
Verbal Commitment. Under no circumstance is a verbal commitment a binding contract. No technicians are authorized to make any verbal commitment with customers on Mystic Pool’s behalf.
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Related to Verbal Commitment
Existing Commitment shall have the meaning provided in Section 2.17.
Initial Commitment means, for any Initial Lender, the obligation of such Initial Lender to make an Initial Loan hereunder, up to the principal amount shown on Schedule 1.01(a). The aggregate amount of the Initial Lenders’ Initial Commitments as of the Closing Date is $150,000,000.
L/C Commitment means the commitment of the Issuing Bank to issue Letters of Credit pursuant to Section 2.23.
Group Commitment means with respect to any Purchaser Group the aggregate of the Commitments of each Purchaser within such Purchaser Group.
Revolving Commitment means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 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.