Multi-Year Commitment Sample Clauses
A Multi-Year Commitment clause obligates the parties to maintain their contractual relationship for a specified period spanning multiple years. Typically, this means that the customer agrees to purchase goods or services, or the parties agree to collaborate, for a minimum term such as two or three years, often with set renewal or termination conditions. This clause provides predictability and stability for both parties by ensuring ongoing business and revenue, while also helping to justify investments or discounts based on the longer-term commitment.
Multi-Year Commitment. In the event this Agreement is in excess of $25,000 and has a term for a period of more than one year, the provisions of Section 339.135(6)(a), Florida Statutes, are hereby incorporated:
(a) The department, during any fiscal year, shall not expend money, incur any liability, or enter into any contract which, by its terms, involves the expenditure of money in excess of the amounts budgeted as available for expenditure during such fiscal year. Any contract, verbal or written, made in violation of this subsection is null and void, and no money may be paid on such contract. The department shall require a statement from the comptroller of the Department that funds are available prior to entering into any such contract or other binding commitment of funds. Nothing herein contained shall prevent the making of contracts for periods exceeding 1 year, but any contract so made shall be executory only for the value of the services to be rendered or agreed to be paid for in succeeding fiscal years, and this paragraph shall be incorporated verbatim in all contracts of the Department which are for an amount in excess of $25,000 and which have a term for a period of more than 1 year."
Multi-Year Commitment. Whereas the Commission is created in the Florida Department of Transportation (Department) and assigned to the Secretary of the Florida Department of Transportation for administrative and fiscal accountability purposes; in the event this agreement is in excess of $25,000 and has a term for a period of more than one year, the provisions of Section 339.135(7)(a) and Section 287.058, Florida Statutes, are hereby incorporated:
Multi-Year Commitment. In the event this Agreement is in excess of TWENTY-FIVE THOUSAND AND NO/100 DOLLARS ($25,000.00) and has a term for a period of more than one year, the provisions of Chapter 339.135(6)(a), Florida Statutes, are hereby incorporated.
(a) “The DEPARTMENT during any fiscal year, shall not expend money, incur any liability, or enter into any contract which, by its terms, involves the expenditure of money in excess of the amounts budgeted as available for expenditure during such fiscal year. Any contract, verbal or written, made in violation of this subsection is null and void, and no money may be paid on such contract. The DEPARTMENT shall require a statement from the Comptroller of the DEPARTMENT that such funds are available prior to entering into any such contract or other binding commitment of funds. Nothing herein contained shall prevent the making of contracts for periods exceeding one (1) year, but any contract so made shall be executory only for the value of the services to be rendered or agreed to be paid for in succeeding fiscal years; and this paragraph shall be incorporated verbatim in all contracts of the DEPARTMENT which are for an amount in excess of $25,000.00 dollars and which have a term for a period of more than one (1) year.”
Multi-Year Commitment. The License Fee(s) listed below reflects the pre-payment for the Services provided by IEEE for a period of three (3) years from the Year 1 Start Date, unless otherwise specified. The **Pre-Paid License Fee shall total $76,425.00 USD, and is outlined in the table below. The Pre-Paid License Fee does not include all applicable taxes, custom charges, insurance, shipping, and/or other fees, which are the responsibility of the Licensee. 1 August 1, 2022 July 31, 2023 $25,475.00 USD 2 August 1, 2023 July 31, 2024 $25,475.00 USD 3 August 1, 2024 July 31, 2025 $25,475.00 USD Pre-Paid TOTAL: $76,425.00 USD
Multi-Year Commitment. Underutilized Space in a District
Multi-Year Commitment. From and including the date of this Agreement and prior to the Multi-Year Facility Termination Date, the Lenders severally agree, on the terms and conditions set forth in this Agreement, to advance their respective Percentage Shares of loans requested by the Borrower hereunder from time to time (collectively, the "Multi-Year Loans," and, severally, a "Multi-Year Loan"); provided, however, that no Lender shall be required to advance amounts hereunder in excess, at any time outstanding, of such Lender's Multi-Year Commitment, and, provided further, that the aggregate amount of Multi-Year Loans at any one time outstanding shall not exceed the lesser of:
(i) The Aggregate Multi-Year Facility Commitment, and
(ii) The Aggregate Combined Commitment minus the sum of: (a) the aggregate dollar amount of Short Term Loans outstanding, and (b) the aggregate dollar amount of Competitive Bid Loans outstanding. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Multi-Year Loans at any time prior to the Multi-Year Facility Termination Date. Each Lender's Multi-Year Facility Commitment shall expire and be reduced to zero on the Multi-Year Facility Termination Date.