Ship Commitment definition

Ship Commitment means, in relation to a Ship, the amount specified against the name of such Ship in Schedule 2 (Ship information), as cancelled or reduced pursuant to any provision of this Agreement.
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Ship Commitment means, in relation to a Ship, the amount specified as such in respect of such Ship in Schedule 2 (Ship information) as cancelled or reduced pursuant to any provision of this Agreement.
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Ship Commitment means, in relation to a Ship and a Lender, 1/5th of that Lender’s Commitment;
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Examples of Ship Commitment in a sentence

  • Advance may be requested in each Utilisation Request and only one Advance may be made in respect of each Ship under the relevant Ship Commitment.

  • The Borrower may, if it gives the Agent not less than ten (10) Business Days' (or such shorter period as the Agent and the Majority Lenders may agree) prior written irrevocable notice, cancel the whole or any part (being a minimum amount of $1,000,000 or a multiple of such amount) of any Ship Commitment which is undrawn at the proposed date of cancellation.


More Definitions of Ship Commitment

Ship Commitment means, in relation to a Ship, the amount specified as such in respect of such Ship in Schedule 2 (Ship information), as cancelled or reduced pursuant to any provision of this Agreement. Ship Representations means each of the representations and warranties set out in clauses 17.28 (Ship status) and 17.29 (Ship’s employment).
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Ship Commitment means, in relation to each Ship, an amount of the Total Commitments that is equal to the lesser of:
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Related to Ship Commitment

  • L/C Commitment $50,000,000.

  • 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.

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

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

  • 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.