Commitment Adjustment definition

Commitment Adjustment means, as of any date of determination, the amount, if any, by which the the Commitments exceed the product of two multiplied by the EBITDA of Stellex and its Subsidiaries on a consolidated basis for the immediately preceding Financial Covenant Period (and if such Financial Covenant Period ends prior to December 31, 1998, such EBITDA shall be multiplied by a fraction the numerator of which is 12 and the denominator of which is the number of months in such Financial Covenant Period). The amount of the Commitment Adjustment shall adjust the Term Loan Commitment, if outstanding, and then adjust the Revolving Loan Commitment.
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Commitment Adjustment means as defined in Section 2.5(b).
Sample 1
Commitment Adjustment as defined in Section 2.1.5(f). U.S. Commitment Percentage: as to any U.S. Lender at any time, the ratio, expressed as a percentage, which such U.S. Lender’s U.S. Revolver Commitment bears to the aggregate U.S. Revolver Commitments at such time.
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Examples of Commitment Adjustment in a sentence

  • After giving effect to any Canadian Revolver Commitment Adjustment, the Canadian Revolver Commitment of each Canadian Lender (and the percentage of each Canadian Revolving Loan that each Participant must purchase a Canadian Revolving Loan Participation in) shall be equal to such Canadian Lender’s (or Participant’s) Pro Rata Share of the amount of the Maximum Canadian Facility Amount.

  • The following table shows the distance between the outermost projections of the proposed and existing terrace balconies together with the finished floor levels.

  • Any such Canadian Revolver Commitment Adjustment shall be in an amount equal to $5,000,000 or a multiple of $1,000,000 in excess thereof and shall concurrently increase or reduce, as applicable, (A) the aggregate U.S. Revolver Commitments then in effect Pro Rata among the U.S. Lenders and (B) the aggregate Canadian Revolver Commitments then in effect Pro Rata among the Canadian Lenders.

  • To avoid this, and to promote administrative efficiency, we eliminate the offset options adopted in the Commitment Adjustment Implementation Order from the fund recovery plan.67 62 See infra para.

  • Based on our experience with implementation of the Commitment Adjustment Implementation Order, we now conclude that it would better serve our interest in protecting universal service funds to eliminate the offset methods adopted in that order as options for recovery of funds in the schools and libraries universal service mechanism.

  • To the extent that we have not clearly done so in the past, we reaffirm and adopt this policy and find that it is consistent with the requirements of the DCIA and the general intent of the Commitment Adjustment Order.

  • We have observed that, when used, such offset methods can result in a lengthy process that imposes a significant administrative burden on USAC.66 We note that although a service provider may fully intend to repay the outstanding debt in a timely manner when choosing the offset options adopted in the Commitment Adjustment Implementation Order, events may occur during the current or subsequent funding year which may delay or prevent payment.

  • Scott Barash, Vice President and General Counsel, USAC, to Magalie Roman Salas, Secretary, Federal Communications Commission, dated October 22, 1999 (Commitment Adjustment Plan).

  • The Billed Entity representing a school, school district, library, library consortium, or consortium of multiple entities authorized to submit Funding Commitment Adjustment Requests regarding the FCC Form 471 to which this FCC Form 500 relates, must be the entity filing the FCC Form 500 with USAC.

  • The Agent shall promptly inform the Lenders of any request for a Canadian Revolver Commitment Adjustment made by the Borrowers.

Related to Commitment Adjustment

  • Commitment Amount means the aggregate amount of up to Ten Million Dollars ($10,000,000) which the Investor has agreed to provide to the Company in order to purchase the Company's Common Stock pursuant to the terms and conditions of this Agreement.

  • Total Commitment Amount means, at any particular time, the aggregate of the Individual Commitments of all of the Lenders at such time.

  • 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).

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

  • 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.

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

  • Available Commitment means a Lender’s Commitment minus:

  • Adjusted Total Term Loan Commitment means at any time the Total Term Loan Commitment less the Term Loan Commitments of all Defaulting Lenders.

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

  • Total Revolving Commitment means, at any time, the sum of the Revolving Commitments at such time.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Revolving Committed Amount shall have the meaning set forth in Section 2.1(a).

  • Aggregate Revolving Committed Amount has the meaning provided in Section 2.01(a).

  • 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.

  • Aggregate Revolving Commitment means the aggregate amount of the Revolving Commitments of all of the Lenders, as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Revolving Commitment is $150,000,000.

  • Loan Commitment has the meaning set forth in Section 2.1.

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.

  • Maximum Commitment Amount means Five Million Dollars ($5,000,000.00).

  • Total Commitment means, at any time, the sum of the Commitments of each of the Lenders at such time.

  • Revolving Commitment Fee has the meaning specified in Section 2.09(a).

  • Incremental Term Loan Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain term loans to one or more Borrowers.

  • Total Term Loan Commitment means the sum of the amounts of the Lenders’ Term Loan Commitments.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

  • Adjusted Total Revolving Credit Commitment means at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders.