Total Equity Commitment Clause Samples
Total Equity Commitment. (a) Notwithstanding anything to the contrary contained in this Agreement or in any other Credit Document, Borrower shall not be required to make, or cause to be made, Equity Contributions in excess of the lesser of (i) $1,000,000,000 and (ii) the Total Equity Commitment, plus in each case any Permitted Additional Equity that Borrower has elected in its sole discretion to provide pursuant to Section 3.2.11. The "Total Equity Commitment" shall be calculated in accordance with this Section 3.15.3.
(b) The initial Total Equity Commitment as of the Closing Date shall be equal to the aggregate of the Allocated Portions of the Total Equity Commitment for all Projects that are Approved Projects on the Closing Date. The Total Equity Commitment shall thereafter be increased on each Initial Credit Event Date after the Closing Date by the Allocated Portion of the Total Equity Commitment for the Project that becomes an Approved Project (including a Substitute Project that replaces an Approved Project) on such Initial Credit Event Date.
(c) In connection with the transfer by Borrower of 100% of its direct and indirect interests in any Approved Project Company in accordance with Section 6.4, the Total Equity Commitment shall be reduced by the unused Allocated Portion of the Total Equity Commitment for the Approved Project being transferred.
(d) On the Last Completion Date (after giving effect to all Borrowings made on such date and all Equity Contributions made or required to be made on such date), the unused Total Equity Commitment shall be reduced to zero.
Total Equity Commitment. Unless otherwise provided herein or agreed by the Shareholders, the total capital commitment made by each Shareholder in JV Co 4 shall be capped at the aggregate amount of the Available Cash distributed by JV Co 1 to such Shareholder pursuant to Section 2.1 (JV Co 1 Restructuring) of the Agreement (for the avoidance of doubt, the Available Cash set off against the payables due from Vianet (or its Affiliates) shall nevertheless be deemed as having been distributed to Vianet) (the “Vianet Commitment Cap” or the “WP Commitment Cap”, as applicable; the Vianet Commitment Cap together with the WP Investor Commitment Cap, the “Total JV Co 4 Commitments” and individually, the “Shareholder’s Commitment Cap”). Immediately upon each Closing (as defined below), unless otherwise provided herein or agreed by the Shareholders in writing, the Shareholding Percentages of Vianet and WP in JV Co 4 shall be 51% and 49% respectively.