Commitment Expiration Date Clause Samples
The Commitment Expiration Date clause defines the specific date on which a party's commitment under an agreement will expire if certain conditions are not met. In practice, this means that if the other party does not fulfill required obligations—such as securing financing or obtaining approvals—by the stated expiration date, the commitment automatically lapses without further action. This clause ensures that parties are not indefinitely bound by obligations, providing a clear endpoint and protecting them from open-ended liability or uncertainty.
Commitment Expiration Date the first anniversary of the Original Closing Date.
Commitment Expiration Date. November 30, 1996.
Commitment Expiration Date the earlier of (a) the Amendment No. 2 Effective Date and (b) December 31, 2009.
Commitment Expiration Date. The earlier to occur of (x) the date on which an Early Amortization Event occurs and (y) September 18, 2004 (or, in the case of clause (y), such later date as may be agreed by all of the Members).
Commitment Expiration Date. The Commitment Expiration Date shall occur upon any of the following events: (i) the occurrence of the scheduled Commitment Expiration Date described in Section 1.14, without extension by written agreement between Borrower and Bank; (ii) the acceleration of the Commitment Expiration Date (whether or not previously extended) pursuant to the Bank’s remedies set forth in SECTION 11 below; or (iii) the acceleration of the Commitment Expiration Date (whether or not previously extended) as a consequence of breach of the Financial Covenants which is not cured within the applicable cure period. The Bank may accelerate the Commitment Expiration Date if, as and when expressly provided in this Agreement and the Loan Documents.
Commitment Expiration Date. On and after the Commitment Expiration Date the Unutilized Commitment shall be reduced to zero and the Bank shall no longer be obligated to adjust the Stated Amount pursuant to this Section.
Commitment Expiration Date. Except to the extent, if any, specified by notice actually received by the Bank prior to the issuance date specified above, the foregoing representations and warranties shall be deemed to have been made by the Company on and as of the Commitment Expiration Date (as determined without regard to this request).