Commitment Commencement Date Clause Samples
The Commitment Commencement Date clause defines the specific date on which a party’s obligations or commitments under an agreement officially begin. This clause typically identifies a calendar date or a triggering event, such as the signing of the contract or the satisfaction of certain conditions, that marks the start of performance requirements. By clearly establishing when commitments start, this clause ensures both parties are aligned on their responsibilities and helps prevent disputes over timing or premature expectations.
Commitment Commencement Date. Closing Date.
Commitment Commencement Date. The satisfaction of the Applicable Funding Conditions for this Credit Facility. Commitment Termination Date: the earliest to occur of (a) June 30, 2019, and (b) an Event of Default. Minimum Credit Extension Amount: $2,500,000 Commencing on the first day of January 1, 2020 (the “Initial Amortization Start Date”), and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by forty-two (42); provided if Borrower provides evidence satisfactory to Agent that the IO Extension Condition (as defined below) has been satisfied at least ten (10) days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by thirty six (36). Commencing on the first day the Initial Amortization Start Date, and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by forty-six (42); provided if Borrower provides evidence satisfactory to Agent that the IO Extension Condition has been satisfied at least ten (10) days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Initial Amortization Start Date shall be extended such that principal payments shall commence on July 1, 2020 and shall be in an amount equal to the aggregate principal amount advanced under Credit Facility #2 divided by thirty six (36). Commencing on the first day the Initial Amortization Start Date, and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #3 divided by forty-two (42); provided if Borrower provides evidence satisfactory to Agent that the IO Extension Condition has been satisfied at least ten (10) days prior to the Initial Amortization Start Date and no Default or Event of Default has occurred and is continuing on the date which such notice is delivered or on the Initial Amortization Start Date, then the Init...
Commitment Commencement Date the Second Amendment Effective Date.
Commitment Commencement Date. The satisfaction of the Applicable Funding Conditions for this Credit Facility.
Commitment Commencement Date. Closing Date. Commitment Termination Date: the close of the Business Day following the Closing Date. Credit Extension Amount on the Closing Date: $20,000,000. Permitted Purpose: Not applicable Credit Facility #2: Credit Facility and Type: Term, Tranche 2 MidCap Financial Trust Thirty Million Dollars ($30,000,000) Total: Thirty Million Dollars ($30,000,000)
Commitment Commencement Date. The later to occur of (a) February 1, 2020 or (b) satisfaction of the Applicable Funding Conditions for this Credit Facility #2. Minimum Credit Extension Amount: $40,000,000.00 Permitted Purpose: N/A Lenders for and their respective Applicable Commitments to this Credit Facility: Lender Applicable Commitment Total Thirty Million Dollars ($30,000,000.00) The following defined terms apply to this Credit Facility: Applicable Funding Conditions:
Commitment Commencement Date. The later to occur of (a) the Closing Date, or (b) satisfaction of the Applicable Funding Conditions for this Credit Facility.
Commitment Commencement Date the Closing Date Commitment Termination Date: the earliest to occur of (a) the close of the Business Day following the Closing Date, (b) an Event of Default, (c) the existence of any Default, or (d) the Maturity Date. Minimum Credit Extension Amount: $15,000,000 Permitted Purpose: not applicable.
Commitment Commencement Date the Second Amendment Effective Date. Commitment Termination Date: the earliest to occur of (a) March 31, 2023, (b) the date on which any Credit Extensions are made by the Lenders in respect of Credit Facility #5, and (c) the delivery of a written notice by Agent to Borrower terminating the Applicable Commitments following an Event of Default that has not been waived or cured at the time such notice is delivered. Minimum Credit Extension Amount: $10,000,000.00 Credit Facility and Type:Term, Tranche 5 MidCap Financial Trust Fourteen Million Dollars ($14,000,000) Apollo Investment Corporation Six Million Dollars ($6,000,000)
Commitment Commencement Date. The later to occur of (a) the satisfaction of the Applicable Funding Conditions for this Credit Facility and (b) September 30, 2021. Commitment Termination Date: the earliest to occur of (a) March 31, 2022, and (b) the delivery of a written notice by Agent to Borrower terminating the Applicable Commitments following an Event of Default that has not been waived or cured at the time such notice is delivered. Minimum Credit Extension Amount: $25,000,000.00 MidCap / MannKind / Amendment No. 3 Commencing on the first day of September 1, 2022 (the “Amortization Start Date”) and continuing on the first day of each calendar month thereafter, an amount equal to the aggregate principal amount advanced under Credit Facility #1 divided by twenty-four (24).