Base Commitment definition

Base Commitment means, with respect to each Liquidity Bank and Institutional Lender listed on Annex A as providing a “Base Commitment”, (i) prior to the end of the Revolving Period, the dollar amount set forth opposite such Liquidity Bank’s or Institutional Lender’s name on Annex A hereto (as such amount may be revised from time to time in accordance with the terms hereof) as a “Base Commitment” or the amount set forth as such Liquidity Bank’s or Institutional Lender’s “Commitment” on Schedule I to the Joinder Supplement relating to such Liquidity Bank or Institutional Lender, as applicable as a “Base Commitment”, and (ii) on or after the Revolving Period, such Liquidity Bank’s or Institutional Lenders’ Pro Rata Share of the aggregate Advances Outstanding.

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Base Commitment shall have the meaning provided in Section 1.01.

Base Commitment with respect to each Lender, the amount set forth opposite such Lender’s name under the caption “Base Commitment” on Schedule I attached hereto. Business Day: any day other than (i) a Saturday or Sunday, or (ii) a day on which banking institutions in the States of Arizona, Texas or New York are required by law to be closed.

Examples of Base Commitment in a sentence

The Borrowers may from time to time revise their Base Commitment if approved by the Board of Trustees of each Borrower and a copy of any such revisions is furnished to the Bank whereupon Schedule I hereto shall be deemed modified to reflect such revisions; provided, however, that the total of the base Commitments shall not exceed the lesser of the Commitment and, for any particular Borrower, such Borrower's Borrowing Base.
Any revisions to the Base Commitment shall become effective upon written notice to the Bank from the Investment Advisor on behalf of the Borrowers.
If more than one Borrower desires to make a Borrowing on any Business Day, each Borrower, subject to the terms and conditions contained herein, shall have the right to obtain up to the amount specified on Schedule I, shall have the right to obtain up to the amount specified on Schedule I (the "Base Commitment") and to the extent that any Borrower has not requested its Base Commitment, the unused portion shall be available to other Borrowers on a pro rata basis in proportion to their Base Commitment.
Borrower may not include in Eligible Collateral more than thirty (30) Spec Units financed under the Borrowing Base Commitment.
Notwithstanding the foregoing, with respect to any Advance, in no event shall any Lender be obligated to transfer to any party an amount greater than its Base Commitment or Supplemental Commitment, as applicable, of the related Advance; provided that, a failure of a Lender to make any Advance with respect to its Base Commitment shall not relieve the other Lenders with respect to their respective Base Commitments.

More Definitions of Base Commitment

Base Commitment means with respect to each Lender, such Lender's share of the Aggregate Base Commitment as set forth opposite such Lender's name on the table set forth on Exhibit 3 hereto entitled "Base Commitments."

Base Commitment has the meaning set forth in Schedule 1. “***” has the meaning set forth in Section 34.

Base Commitment means the minimum Call Payment required to be generated by the Customer as set out in the Price List

Base Commitment means a Bank's agreement to make Revolving Credit Loans to the Borrower pursuant to subsection 2.1 hereof in the amount specified on Schedule 1 hereto under the caption "Base Commitment", and Base Commitments means the aggregate of each Bank's Base Commitment. BASE COMMITMENT PERIOD means the period from and including the date hereof to the Termination Date.

Base Commitment means $39.5 million.

Base Commitment is hereby added as follows:

Base Commitment means, as to Merck, the Merck Base Commitment --------------- and, as to each Other Investor Member, an amount equal to the Other Investor Members Base Commitment multiplied by such Other Investor Member's Ratable Contribution Percentage.