Commitment Provisions Sample Clauses

Commitment Provisions. The Purchasers, pro rata in proportion to each Purchaser’s Commitment, shall cause the issuance of the LC so requested by the Company provided that: (a) The aggregate stated amount of the LC shall not exceed $5 million: (b) The expiry of the LC shall not be later than November 30, 2003; (c) The issuance date shall not be earlier than June 1, 2003; and (d) The Company shall execute such documentation to apply for and support the issuance of the LC as may be required by the issuer of the LC, which may be one of the Company’s senior lenders (the “LC Issuer).” (c) Section 7.4(b) of the Purchase Agreement is hereby amended by adding to the end of such subsection the following: “; provided that the issuance of such warrants will not result in the cancellation of the LC Notes.” (d) Schedule I of the Purchase Agreement is hereby amended and restated in its entirety as follows: Saks Incorporated 5,000 $ 5,000,000 Fxxx Xxxxx 4,000 $ 4,000,000 Kxxxx Xxxxxxxx Capital Advisors, L.P. 5,000 $ 5,000,000 Rxxxxxx Xxxxx 4,900 $ 4,900,000 Hxxxxxx Park Capital II, L.P. 5,000 $ 5,000,000 Woodacres LLC 3,100 $ 3,100,000 Lxx Xxxxxx, as trustee 2,000 $ 2,000,000 Cxxxxxx Xxxxxx 1,000 $ 1,000,000 ” (e) Schedule 2.3 of the Purchase Agreement is hereby amended and restated in its entirety as follows: The equity capitalization of FAO will be as follows on the Closing Date (without giving effect to the 1:15 reverse stock split): Series I Convertible Preferred Stock* 305,000,000 Series J Convertible Preferred Stock** 65,704,954 Warrants*** 1,650,000 Common Stock**** 39,835,968 Total: 412,190,924 * Assumes 30,000 shares of Series I Convertible Preferred Stock are issued under the Agreement at a conversion rate of $.10 per share. Also includes 500 shares of Series I Convertible Preferred Stock issued to KBB Retail Assets Corp. in compromise of its claims in the Bankruptcy Case Proceedings. ** Series J Convertible Preferred Stock ranks pari passu with the Series I and is issued in compromise of claims by Kxxxx Xxxxxxxx affiliates and Fxxx Xxxxx in connection with the Bankruptcy Case Proceedings. Assumes that Kxxxx Xxxxxxxx affiliates and Fxxx Xxxxx convert the $4 million in aggregate principal amount of convertible Equipment Notes they receive in compromise of their claims in the Bankruptcy Case Proceedings. *** Includes Common Stock issuable upon exercise of warrants held by Kxxxx Xxxxxxxx Affiliates and Fxxx Xxxxx. **** Includes Common Stock to be received by unsecured creditors in compro...
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Commitment Provisions. The Purchasers shall cause the issuance of the LC so requested by the Company provided that: (a) The aggregate stated amount of the LC shall not exceed $5 million; (b) The expiry of the LC shall not be later than November 30, 2003; (c) The issuance date shall not be earlier than June 1, 2003; and (d) The Company shall execute such documentation to apply for and support the issuance of the LC as may be required by the issuer of the LC, which may be one of the Company's senior lenders (the "LC Issuer").
Sample 1
Commitment Provisions. Compliance with this agreement satisfies the Commitment provisions of Article Two, Section F(3) of the 2003 BLA, with respect to work performed in and around the Plant but only regarding XXX.
Sample 1
Commitment Provisions. The Purchasers, pro rata in proportion to each Purchaser's Commitment, shall cause the issuance of the LC so requested by the Company provided that: (a) The aggregate stated amount of the LC shall not exceed $5 million: (b) The expiry of the LC shall not be later than November 30, 2003; (c) The issuance date shall not be earlier than June 1, 2003; and (d) The Company shall execute such documentation to apply for and support the issuance of the LC as may be required by the issuer of the LC, which may be one of the Company's senior lenders (the "LC Issuer)." (c) Section 7.4(b) of the Purchase Agreement is hereby amended by adding to the end of such subsection the following: "; provided that the issuance of such warrants will not result in the cancellation of the LC Notes." (d) Schedule I of the Purchase Agreement is hereby amended and restated in its entirety as follows: "SCHEDULE I AMOUNT OF PURCHASERS SHARES PURCHASED PRICE Saks Incorporated 5,000 $5,000,000 Fred Kayne 4,000 $0,000,000 Kayne Anderson Capital Advisors, L.P. 5,000 $0,000,000 Xxchard Kayne 4,900 $0,000,000 Xancock Park Capital II, L.P. 5,000 $0,000,000 Woodacres LLC 3,100 $3,100,000 Les Biller, as trustee 2,000 $0,000,000 Charles Norris 1,000 $0,000,000" (e) Schedule 2.3 of the Purchase Agreement is hereby amended and restated in its entirety as follows: "Schedule 2.3
Sample 1

Related to Commitment Provisions

  • Termination and Reduction of Revolving Commitments (a) Unless previously terminated, the Revolving Commitments shall terminate on the Maturity Date. (b) The Borrower may at any time terminate, or from time to time reduce, the Revolving Commitments; provided that (i) each partial reduction of the Revolving Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the Borrower shall not terminate or reduce the Revolving Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.08, the sum of the Aggregate Total Exposure would exceed the total Commitments. (c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Revolving Commitments under paragraph (b) of this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Revolving Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or another transaction, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Revolving Commitments shall be permanent. Each reduction of the Revolving Commitments shall be applied to the Lenders in accordance with their respective Applicable Percentages. (d) If, after giving effect to any reduction of the Revolving Commitments, the Letter of Credit Sublimit exceeds the amount of the Revolving Commitments, such Letter of Credit Sublimit shall be automatically reduced by the amount of such excess.

  • Amounts and Terms of Commitments and Loans 2.1 Commitments; Making of Loans; the Register; Notes.

  • Availability of Lender's Pro Rata Share Agent may assume that each Revolving Lender will make its Pro Rata Share of each Revolving Credit Advance available to Agent on each funding date. If such Pro Rata Share is not, in fact, paid to Agent by such Revolving Lender when due, Agent will be entitled to recover such amount on demand from such Revolving Lender without setoff, counterclaim or deduction of any kind. If any Revolving Lender fails to pay the amount of its Pro Rata Share forthwith upon Agent’s demand, Agent shall promptly notify Borrower Representative and Borrowers shall immediately repay such amount to Agent. Nothing in this Section 9.9(b) or elsewhere in this Agreement or the other Loan Documents shall be deemed to require Agent to advance funds on behalf of any Revolving Lender or to relieve any Revolving Lender from its obligation to fulfill its Commitments hereunder or to prejudice any rights that Borrowers may have against any Revolving Lender as a result of any default by such Revolving Lender hereunder. To the extent that Agent advances funds to any Borrower on behalf of any Revolving Lender and is not reimbursed therefor on the same Business Day as such Advance is made, Agent shall be entitled to retain for its account all interest accrued on such Advance until reimbursed by the applicable Revolving Lender.

  • Provisions Related to Extended Revolving Credit Commitments If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(l)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and the same shall be deemed to have been incurred solely pursuant to the relevant Extended Revolving Credit Commitments, and such Swing Line Loans shall not be so required to be repaid in full on such earliest maturity date.

  • Commitments and Applicable Percentages 5.01 Loan Parties Organizational Information 5.08(b)(1) Owned Real Estate 5.08(b)(2) Leased Real Estate 5.10 Insurance 5.13 Subsidiaries; Other Equity Investments

  • Termination of Revolving Credit Facility The Revolving Credit Facility and the Revolving Credit Commitments shall terminate on the Revolving Credit Maturity Date.

  • Termination or Reduction of Revolving Commitments The Borrower shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Revolving Commitments or, from time to time, to reduce the amount of the Revolving Commitments; provided that no such termination or reduction of Revolving Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans made on the effective date thereof, the Total Revolving Extensions of Credit would exceed the Total Revolving Commitments. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple thereof, and shall reduce permanently the Revolving Commitments then in effect.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Purchase of Defaulting Lender’s Commitment During any period that a Lender is a Defaulting Lender, the Borrower may, by the Borrower giving written notice thereof to the Administrative Agent, such Defaulting Lender and the other Lenders, demand that such Defaulting Lender assign its Commitment and Loans to an Eligible Assignee subject to and in accordance with the provisions of Section 13.6(b). No party hereto shall have any obligation whatsoever to initiate any such replacement or to assist in finding an Eligible Assignee. In addition, any Lender who is not a Defaulting Lender may, but shall not be obligated to, in its sole discretion, acquire the face amount of all or a portion of such Defaulting Lender’s Commitment and Loans via an assignment subject to and in accordance with the provisions of Section 13.6(b). In connection with any such assignment, such Defaulting Lender shall promptly execute all documents reasonably requested to effect such assignment, including an appropriate Assignment and Assumption and, notwithstanding Section 13.6(b), shall pay to the Administrative Agent an assignment fee in the amount of $7,500. The exercise by the Borrower of its rights under this Section shall be at the Borrower’s sole cost and expense and at no cost or expense to the Administrative Agent or any of the Lenders.

  • Termination of Commitment to Lend Notwithstanding anything in the Loan Documents, Lender’s obligation to lend the undisbursed portion of the Commitment Amount to Borrower hereunder shall terminate on the earlier of (i) at Lender’s sole election, the occurrence of any Default or Event of Default hereunder, and (ii) the applicable Commitment Termination Date. Notwithstanding the foregoing, Lender’s obligation to lend the undisbursed portion of the Commitment Amount to Borrower shall terminate if, in Lender’s sole judgment, there has been a material adverse change in the general affairs, management, results of operations, condition (financial or otherwise) or prospects of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to Lender on or before the date of this Agreement.

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