Minimum Work Commitment Sample Clauses

Minimum Work Commitment. On or before the third anniversary of the Effective Date, TSHI shall expend not less than Two Million Dollars ($2,000,000) in connection with Exploration upon or with respect to the Properties, including without limitation associated costs of permitting, environmental studies and Environmental Compliance, but exclusive of costs of holding the Properties (the Minimum Work Commitment). The Minimum Work Commitment shall be accounted for in accordance with Exhibit B of the LLC Agreement, including the administrative change provided for therein. Subject to force majeure under Section 8.7, the Minimum Work Commitment shall be a fixed obligation on the part of TSHI which shall not be excused by TSHIs withdrawal or deemed withdrawal from this Agreement. The Minimum Work Commitment will constitute a part of the Four Million Dollar ($4,000,000) funding for Exploration to be provided by TSHI pursuant to Section 2.2, and not an additional obligation.
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Minimum Work Commitment. 16 14.3 Business Sole Undertaking......................................... 16 14.4
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Minimum Work Commitment. The Franchisee will conduct the Franchised Business between the hours of 8:00 am and 5:00 pm from Monday to Friday inclusive (other than public holidays), and at such other times specified in the Manual.
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Minimum Work Commitment. GPM commits to expend, within 18 months of the date of the MOU, or March 4, 2012 (the “Work Commitment Deadline”), a minimum aggregate amount of US $500,000 (the “Work Commitment”) in exploration, development and/or production work on the Exploration Properties, as, where and when it deems appropriate, of which amount the parties acknowledge $106,745.68 has been satisfied as of the date of this Agreement, as further set forth in Schedule “C.” Except as specified herein, GPM shall not be required to expend any other monies on the Exploration Properties, except such monies that GPM deems advisable, in its sole discretion, to expend. In the event GPM does not fulfill, in the aggregate, the minimum Work Commitment on or before the Work Commitment Deadline unless such deficiency is the result of circumstances beyond its reasonable control, including, but not limited to a force majeure event as set forth in Section 19, then at least thirty (30) days prior to the Work Commitment Deadline, GPM shall notify SV of its election to: (A) forfeit its ownership interest in the Exploration Properties; or (B) make a lump sum cash payment to SV in the amount of the shortfall in fulfilling the Work Commitment.
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Minimum Work Commitment. 3 2.5 Grant of Lien and Security Interest................................... 3 2.6
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Related to Minimum Work Commitment

  • Minimum Commitment If for a certain Service a minimum commitment has been determined in the Agreement, the Customer guarantees to respect the minimum commitment described in the Agreement during the entire period of the Agreement. If the Customer does not respect this minimum commitment, the Customer shall pay the compensation mentioned in the Agreement. If no compensation has been mentioned in the Agreement, the Customer has to pay the applicable Charges for the respective Service, or the average of the applicable Charges if different Charges are applied for the respective Service, per missing number of its minimum commitment. Services that are timely cancelled by the Customer or Services for which the Customer has paid a cancellation fee , do not, even not partly, release the Customer from its obligation to respect the minimum commitment . Services cancelled as due to Force Majeure and Services cancelled by Lineas for other reasons than Force Majeure, will be considered as a Services ordered and paid for by the Customer. Services cancelled by the Customer or by Lineas because of holidays do not, even not partly, release the Customer from its obligation to respect its minimum commitment.

  • Time Commitment The Advisor shall, and shall cause its Affiliates and their respective employees, officers and agents to, devote to the Company such time as shall be reasonably necessary to conduct the business and affairs of the Company in an appropriate manner consistent with the terms of this Agreement. The Company acknowledges that the Advisor and its Affiliates and their respective employees, officers and agents may also engage in activities unrelated to the Company and may provide services to Persons other than the Company or any of its Affiliates.

  • Part-Time Commitment The Hospital shall not refuse to accept an offer from an employee to make a written commitment to be available for work on a regular predetermined basis solely for the purpose of utilizing casual employees so as to restrict the numbers of regular part-time employees.

  • L/C Commitment (a) Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the other Lenders set forth in Section 3.4(a), agrees to issue letters of credit (“Letters of Credit”) for the account of the Borrower on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, (i) the L/C Obligations would exceed the L/C Commitment or (ii) the aggregate amount of the Available Revolving Commitments would be less than zero. Each Letter of Credit shall (i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the date that is five (5) Business Days prior to the Revolving Termination Date, provided that any Letter of Credit with a one-year term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). (b) The Issuing Lender shall not at any time be obligated to issue any Letter of Credit if (i) such issuance would conflict with, or cause the Issuing Lender or any L/C Participant to exceed any limits imposed by, any applicable Requirement of Law or (ii) any Lender is at that time a Defaulting Lender, unless the Issuing Lender has entered into arrangements, including the delivery of Cash Collateral, satisfactory to the Issuing Lender (in its sole discretion) with the Borrower or such Lender to eliminate the Issuing Lender’s actual or potential Fronting Exposure (after giving effect to Section 2.23(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which the Issuing Lender has actual or potential Fronting Exposure, as it may elect in its sole discretion.

  • Maximum Commitment The maximum aggregate amount payable by NYSERDA to the Contractor shall be the amount appearing at Item 5 of page one of this Agreement. NYSERDA shall not be liable for any costs or expenses in excess of such amount incurred by the Contractor in the performance and completion of the Work.

  • Service Level Commitment IBM provides the following service level commitment (“SLA”) for the Cloud Service, after IBM makes the Cloud Service available to you.

  • The Commitment Subject to the terms and conditions of this Agreement, Lender agrees to make term loans to Borrower from time to time from the Closing Date and to, but not including, the Termination Date in an aggregate principal amount not exceeding the Commitment. The Commitment is not a revolving credit commitment, and Borrower does not have the right to repay and reborrow hereunder. Each Loan requested by Borrower to be made on a single Business Day shall be for a minimum principal amount set forth in the Supplement, except to the extent the remaining Commitment is a lesser amount.

  • STAFF COMMITMENT If this Settlement Agreement is accepted by the Hearing Panel, Staff will not initiate any proceeding under the By-laws of the MFDA against the Respondent in respect of the facts set out in Part IV and the contraventions described in Part V of this Settlement Agreement, subject to the provisions of Part IX below. Nothing in this Settlement Agreement precludes Staff from investigating or initiating proceedings in respect of any facts and contraventions that are not set out in Parts IV and V of this Settlement Agreement or in respect of conduct that occurred outside the specified date ranges of the facts and contraventions set out in Parts IV and V, whether known or unknown at the time of settlement. Furthermore, nothing in this Settlement Agreement shall relieve the Respondent from fulfilling any continuing regulatory obligations.

  • Total Commitment The sum of the Commitments of the Banks, as in effect from time to time.

  • Service Commitment Newly hired nurses and currently employed nurses who voluntarily choose to relocate and receive a relocation allowance may be required to serve for a minimum of two years at their base before they will be considered for transfer to another base. This commitment will not apply when the employer and nurse mutually agree to waive it and when relocation occurs as a result of layoff/rehire.

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