Take-or-Pay Commitment Sample Clauses

Take-or-Pay Commitment. 2.2.1 In addition to the Wireless Broadband Services Prepayment described in Section 2.1, and not in lieu thereof, Sprint agrees to a take-or-pay commitment as further described in this Section 2.2 of Schedule 7.1.
Sample 1Sample 2
AutoNDA by SimpleDocs
Take-or-Pay Commitment. (a) Notwithstanding that Shipper is not obligated to, and may not Nominate and Tender volumes of Petroleum equal to or greater than its Contract Volume, Shipper shall, on each Payment Due Date, pay to Carrier at least the Monthly Revenue Commitment, regardless of the volumes of Petroleum actually Tendered in the applicable Month by Shipper, as outlined in Appendix B.
Sample 1Sample 2
Take-or-Pay Commitment. Subject to the provisions of Sections 6, 7 and 8 ---------------------- below, prior to December 31, 2002 CNC shall purchase aggregate Services and Equipment amounting to at least $21,200,000, comprised of at least $16,200,000 of Services and no more than $5,000,000 of Equipment, in accordance with the schedule set forth below. CNC shall not be subject to a minimum purchase commitment under this Agreement once it has satisfied its take-or-pay obligations. All dollar amounts in this Agreement shall be determined in accordance with WCG's prices in effect at the time such Services and Equipment are ordered by CNC, inclusive of any discounts applicable to CNC but exclusive of any credits (including, without limitation, Service credits available under Section 8) to which CNC may be entitled, late payment penalties, taxes and other government-imposed surcharges. CNC's purchases of Services and Equipment shall not include payments made by CNC to WCG to reimburse WCG for third party costs paid to unaffiliated entities, including but not limited to, local access charges, taxes, installation charges, off-network charges, one time fees and other similar costs. Minimum Aggregate ----------------- Purchases --------- Year of Services and Equipment ---- ------------------------- (Take-or-Pay Obligation) -------------------------------------------------------------- 1 $1,200,000 (1/1/98 - 12/31/98) -------------------------------------------------------------- 2 $2,500,000 (1/1/99 - 12/31/99) -------------------------------------------------------------- 3 $7,000,000 (1/1/2000 - 12/31/2000) -------------------------------------------------------------- 4 $6,500,000 (1/1/2001 - 12/31/2001) -------------------------------------------------------------- 5 $4,000,000 (1/1/2002 - 12/31/2002) -------------------------------------------------------------- To the extent that CNC exceeds the Minimum Aggregate Purchases of Services and Equipment in any year as set forth in the schedule above, the amount of such excess shall be offset against CNC's remaining take-or-pay obligation. The offset shall be applied to CNC's take-or-pay obligation beginning with the next subsequent year's take-or-pay obligation and shall reduce CNC's take-or-pay obligation for that year until such obligation is satisfied. If any offset remains, it then shall be applied to the next subsequent year's take-or-pay obligation continuing through the year 5 (December 31, 2002) take-or-pay obligation or until the...
Sample 1

Related to Take-or-Pay Commitment

  • L/C Commitment (a) Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the other Lenders set forth in Section 3.4(a), agrees to issue Letters of Credit upon the request and for the account of the Borrower (and for the benefit of the Borrower or any Subsidiary of the Borrower) on any Business Day during the Revolving Commitment Period in such form as may be approved from time to time by such Issuing Lender; provided that no Issuing Lender shall issue any Letter of Credit if, (i) after giving effect to such issuance, (A) the L/C Exposure would exceed the L/C Commitment or (B) the aggregate amount of the Available Revolving Commitments would be less than zero or (C) unless otherwise agreed to by such Issuing Lender, the L/C Exposure with respect to all Letters of Credit issued by such Issuing Lender would exceed such Issuing Lender’s Specified L/C Commitment or (ii) such Issuing Lender shall have received written notice from the Administrative Agent or the Borrower, at least one Business Day prior to the requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Section 5.2 shall not have been satisfied. On the Restatement Effective Date, each Existing Letter of Credit shall be deemed to be a Letter of Credit issued hereunder for the account of the Borrower. 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 Business Days prior to the Revolving Termination Date (as it may be extended, so long as the Available Revolving Commitments of all Continuing Lenders would equal or exceed zero following such extension); provided, however, that any Letter of Credit, whether newly requested or an existing Letter of Credit that is extended or automatically renewed, may have an expiration date after the Revolving Termination Date (so long as such expiration date remains in compliance with clause (x) above) so long as the Borrower cash collateralizes such Letter of Credit at 101% of the available face amount of such Letter of Credit on or prior to the date which is five Business Days prior to the Revolving Termination Date and the Administrative Agent and the relevant Issuing Lender providing such Letter of Credit agree to such expiration date at the time such Letter of Credit or extension is requested or at the time such existing Letter of Credit is to be automatically renewed, as applicable; provided further that any Letter of Credit (other than a Letter of Credit to which Section 2.18(c)(ii) applies) with a one-year term may provide for the renewal thereof for additional one-year periods (which shall only extend beyond the date referred to in clause (y) above if the condition described in the first proviso of this sentence is satisfied).

  • 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.

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

  • Available Commitment After giving effect to the proposed Borrowing, the Principal Obligations will not exceed the Available Commitment and the aggregate Principal Obligations will not exceed the Maximum Commitment.

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • Loan Commitment Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company herein set forth, the Lender hereby agrees to lend to the Company on the Closing Date and thereafter up to $225,600,000 in the aggregate (the "Loan") consisting of $112,800,000 of 7-year Tranche advances and $112,800,000 of 10-year Tranche advances. The Lender's commitment to make the Loan to the Company pursuant to this Section 2.1 is herein called the "Loan Commitment."

  • Revolver Commitments The Revolver Commitments shall terminate on the Revolver Maturity Date. Borrower may reduce the Revolver Commitments, without premium or penalty, to an amount (which may be zero) not less than the sum of (A) the Revolver Usage as of such date, plus (B) the principal amount of all Advances not yet made as to which a request has been given by Borrower under Section 2.3(a), plus (C) the amount of all Letters of Credit not yet issued as to which a request has been given by Borrower pursuant to Section 2.12(a). Each such reduction shall be in an amount which is not less than $1,000,000 (unless the Revolver Commitments are being reduced to zero and the amount of the Revolver Commitments in effect immediately prior to such reduction are less than $5,000,000), shall be made by providing not less than 10 Business Days prior written notice to Agent, and shall be irrevocable. Once reduced, the Revolver Commitments may not be increased. Each such reduction of the Revolver Commitments shall reduce the Revolver Commitments of each Lender proportionately in accordance with its ratable share thereof.

Time is Money Join Law Insider Premium to draft better contracts faster.