Total Canadian Commitment Clause Samples
The 'Total Canadian Commitment' clause defines the aggregate amount of financial or contractual obligations that parties are committing to within Canada under the agreement. This clause typically specifies a maximum cap or total sum that can be allocated or drawn upon for Canadian operations, projects, or transactions. For example, it may set a limit on the total credit available to Canadian subsidiaries or the total value of goods to be supplied in Canada. Its core practical function is to establish clear boundaries on the extent of commitments within Canada, thereby managing risk and ensuring all parties are aware of the maximum exposure or liability under the contract.
Total Canadian Commitment. The sum of the Canadian Commitments of the Canadian Lenders, as in effect from time to time. On the Closing Date, the Total Canadian Commitment is $4,500,000.
Total Canadian Commitment. The aggregate principal amount of the Ten Million U.S. Dollars ($10,000,000), which may be advanced by the Lenders to the Canadian Borrower in U.S. Dollars or Canadian Dollars, as such amount may be decreased from time to time pursuant to the terms hereof.
Total Canadian Commitment. See Section 2.1(b).