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.

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.

• The value of your Incremental Postage Credits will be calculated by applying the applicable Incremental Postage Credit Rate(s) against your volume of Eligible Items posted during the Incentive Period which exceeds the sum total of your Agreed Base Commitment and Matched Volume Commitment up to your Agreed Incremental Commitment.

• 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.

• The value of your Incremental Postage Credits will be calculated by applying the applicable Incremental Postage Credit Rate(s) against your volume of Eligible Items posted during this Incentive Period which exceeds the sum total of your New Agreed Base Commitment and New Matched Volume Commitment up to your New Agreed Incremental Commitment.

More Definitions of Base Commitment

Base Commitment has the meaning specified therefor in the definition of “Tranche A Total Commitment”.

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.

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. Base LIBOR: the rate per annum for United States dollar deposits quoted by Agent as the Inter-Bank Market Offered Rate, with the understanding that such rate is quoted by Agent for the purpose of calculating effective rates of interest for loans making reference thereto, for delivery of funds for one (1) month in an amount equal to the outstanding principal balance of the Inventory Facility. Borrowers understand and agree that Agent may base its quotation of the Inter-Bank Market Offered Rate upon such offers or other market indicators of the Inter-Bank Market as Agent in its discretion deems appropriate including, but not limited to, the rate offered for U.S. dollar deposits on the London Inter-Bank Market.

Base Commitment is hereby added as follows:

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, with respect to each Lender, a portion of such Lender's Commitment equal to such Lender's Revolving Credit Percentage of an amount equal to (a) $4,000,000,000 minus (b) the aggregate amount of optional reductions in the Base Commitments (if any) made pursuant to Section 2.13.