Blocked Commitment means, in respect of any Financed Property that is a Non-Stabilized Property, an amount equal to 70% of the Renovation Reserve for such Property. The Blocked Commitment in respect of any Property shall terminate automatically upon occurrence of a funding of a Renovation Loan in respect of such Property requested pursuant to Section 2.02(a)(ii).
Blocked Commitment means for the period from and including the date of the sale or disposition of any asset or Recovery Event resulting in a temporary reduction of the Total Revolving Loan Commitment pursuant to Section 4.02(e) or (g) through but not including the date on which all or a part of the net sale proceeds or Reinvestment Amount, as applicable, for such asset are reinvested pursuant to such Section, as applicable, the amount of net sale proceeds or proceeds from a Recovery Event, as applicable.
Blocked Commitment means $100,000,000; provided that (x) at all times on and after the Second Amendment Effective Date and prior to the CCA Payment Date, the Blocked Commitment shall be $50,000,000 and (y) at all times on and after the CCA Payment Date, the Blocked Commitment shall be $0, provided, that, with respect to each of preceding clauses (x) and (y), (A) at all times on and after the occurrence of a Category I Capital Call Event (as defined in the Capital Call Agreement), the Blocked Commitment shall be equal to the aggregate amount of the unused Growth Capital Commitments of the Lenders as in effect immediately prior to the occurrence of such Category I Capital Call Event and (B) at all times on and after the last day of the fiscal quarter of the Borrower ending closest to June 30, 2001, during any period after the occurrence of a Category III Capital Call Event (as defined in the Capital Call Agreement) and prior to the payment and application of Category III Capital Call Amounts (as defined in the Capital Call Agreement) with respect to such Category III Capital Call Event in accordance with the provisions of Sections 2 and 3 of the Capital Call Agreement, the Blocked Commitment shall be equal to the aggregate amount of the unused Growth Capital Commitments of the Lenders as in effect immediately prior to the occurrence of such Category III Capital Call Event.
Examples of Blocked Commitment in a sentence
For the avoidance of doubt, no interest shall be payable in respect of any Blocked Commitment.
The reductions to the General Blocked Commitment pursuant to this clause (a) shall not result in any reduction to the Total Revolving Loan Commitment (reductions in the latter being governed by Section 3.02).
On the Smartflex Expiration Date, the Revolving Credit Aggregate Commitment shall be permanently reduced by the amount of the Blocked Commitment, unless the Smartflex Acquisition has been consummated by such date.
On and after the RL Commitment Reduction Date and after giving effect to the Mandatory RL Commitment Reduction described under the heading "Mandatory Repayments/Commitment Reductions" below, the Blocked Commitment shall be zero.
Availability: Revolving Loans may be borrowed, repaid and reborrowed on and after the Initial Borrowing Date in accordance with the terms of the documentation governing the Senior Bank Financing; provided that -------- the availability at any time under the Revolving Credit Facility shall equal the total commitments under the Revolving Credit Facility less the Blocked Commitment.
More Definitions of Blocked Commitment
Blocked Commitment means, for each Lender, the obligation of such Lender to make Advances, subject to the Availability Block, in an aggregate principal and/or face amount not to exceed the Blocked Commitment amount set forth opposite such Lender’s name on Appendix A(1) attached hereto.
Blocked Commitment means (i) for the period from and including the Effective Date through but not including the Escrow Release Date, the Availability Block Amount and (ii) for the period thereafter, $0.
Blocked Commitment means, on any date of determination, zero PLUS (i) the aggregate principal amount of Revolving Loans prepaid pursuant to Section 4.02(n) on or prior to such date in lieu of the deposit of amounts in the Cash Collateral Account pursuant to said Section LESS (ii) the aggregate amount specified by the Borrower in an officers' certificate or certificates delivered to the Administrative Agent on or prior to such date as having been paid (or which will be paid with the proceeds of Revolving Loans being incurred on the date of delivery of such officer's certificate) in connection with the purchase of Eligible Assets, investments in Converting Plants or the replacement or restoration of the respective properties or assets giving rise to the receipt of Net Insurance/Condemnation Proceeds which resulted in such prepayment of Revolving Loans, as the case may be, LESS (iii) the aggregate amount specified by the Borrower in an officers' certificate or certificates delivered to the Administrative Agent on or prior to such date as being the aggregate principal amount of the Term Loans which have been paid (or which will be paid with the proceeds of Revolving Loans being incurred on the date of delivery of such officers' certificate) by reason of the application of the second proviso to Section 4.02(f) or the second proviso to Section 4.02(g), as the case may be, in each case to the extent the Total Revolving Loan Commitment was blocked pursuant to Section 4.02(n) by reason of the receipt of the related Net Asset Sale Proceeds or Net Insurance/Condemnation Proceeds, as the case may be.
Blocked Commitment means each of the General Blocked Commitment and the Senior Notes Blocked Commitment.
Blocked Commitment means on any date of determination, an amount equal to the sum of (A) the greater of $0 or remainder of (x) the then Permitted Receivables Transaction Outstandings less (y) the aggregate amount of all reductions to the Total Revolving Loan Commitment theretofore effected pursuant to Sections 3.02(a) and 3.03(e) and (B) an amount equal to all increases to the Blocked Commitment theretofore effected pursuant to the first proviso to Section 4.02(f), minus the amount of cash thereafter used to pay actual costs incurred in connection with the replacement or restoration of the respective properties or assets which gave rise to the increase to the Blocked Commitment pursuant to this clause (B) or, in the circumstances contemplated by the last proviso to Section 4.02(f), the amount of principal repayments of the outstanding Term Loans made because the respective amounts which gave rise to the increase to the Blocked Commitment were not (within the time periods set forth in said last proviso) used to replace or restore the respective properties or assets; provided that if the Blocked Commitment is increased in the -------- circumstances provided above in this clause (B), the aggregate amount of reductions thereto as a result of the replacement or restoration of the respective properties or assets or repayments of Term Loans shall in no event exceed the amount of the original increase to the Blocked Commitment as a result of the respective Recovery Event pursuant to preceding clause (B).
Blocked Commitment means (i) for the period from the Effective Date through and including the Initial Borrowing Date (immediately after giving effect to the Transaction), $0 and (ii) at any time thereafter, an amount equal to the remainder of (x) $124,000,000 LESS (y) the amount of the Initial Convertible QUIPS Conversion Payments; PROVIDED, that the Blocked Commitment shall be reduced from time to time by the amount of the proceeds of Revolving Loans and Swingline Loans used to make Post-Closing Convertible QUIPS Conversion Payments after the Initial Borrowing Date in accordance with the terms of this Agreement.
Blocked Commitment means (i) for the period from and including the Restatement Effective Date through but not including the OmniAmerica Borrowing Date, $75,000,000 and (ii) for the period thereafter, $0.