Development Commitment definition

Development Commitment means a Development Proposal, at the time, if any, that such Development Proposal is approved by any Governmental Authority or other Person having jurisdiction over the subject matter of such proposal and is binding upon Company or any of its Subsidiaries; provided that a Development Proposal when so approved shall not be deemed to constitute a Development Commitment until such time as Company and/or any of its Subsidiaries have expended $5,000,000 in the aggregate in furtherance of such Development Proposal. The Dollar amount of any Development Commitment as of any date of determination shall be (X) the amount set forth therein or, if no such amount is set forth, the good faith estimate of Company's Board of Directors of the amount necessary to complete the development, expansion or refurbishment (but not ordinary operating expenses) that is the subject of such Development Commitment (exclusive of any portion of such amount that has already been expended by Company or any of its Subsidiaries on such date of determination) minus (Y) the portion, if any, of such amount that is, pursuant to a binding commitment from a reputable Person that is not an Affiliate of Company or any of its Subsidiaries, the sole responsibility of such non-Affiliate to provide, it being understood that if, at any time on or after such a binding commitment is obtained, Company or any of its Subsidiaries shall become or remain obligated, directly or indirectly, to any Person for any such amount described in this clause (Y) other than solely by virtue of Company's or such Subsidiary's status as a joint venturer or general partner, such amount shall no longer be deductible in determining the Dollar amount of such Development Commitment.
Sample 1
Development Commitment means Developer’s agreement and obligation to complete construction of the Office Building on the Office Site. Divestiture Payment means (i) the amount of the proceeds of the Project Loan disbursed pursuant to the terms and conditions of the Project Loan Documents; plus (ii) unpaid, accrued interest on the Project Loan at the regular (non-default) rate of interest. Effective Date means the date in the first paragraph of this Agreement.
Sample 1
Development Commitment means the commitment of SunEdison to submit Projects to the JV Entities providing for an aggregate amount of megawatts of electric energy generating capacity sufficient to require investment of 100% of the aggregate Initial Capital Commitments (assuming a 4:1 ratio of Project Debt Financing to equity with respect to each Project) by no later than three (3) years from the Closing Date; provided that no Project shall count towards the Development Commitment (i) until such time as SunEdison provides the Mandatory Project Due Diligence in respect of such Project or (ii) if the Expected Project Timeline contemplates a date of Substantial Completion (as such term is defined in the EPC Agreement) which is greater than eight (8) months from the date of the notice of Project Submittal Tranche (in which case the Project would only count towards the Development Commitment if and at such time as the JV Entity accepts the Project Submittal Tranche in which such Project is included). The inclusion of the Rovigo Project as part of any Project Submittal Tranche, unless agreed to by FR Holdings, shall not be counted toward the Development Commitment.
Sample 1

Examples of Development Commitment in a sentence

  • In Next three years, after the newly developed firm is able to successfully complete Development orders with +5% tolerances, 20% of annual quantity requirement may be reserved for Newly Developed firms.55.10Period of Development Commitment A newly developed firm would be granted this facility till only three years after completing the initial Development order.

  • The Interior Clean Energy Development Commitment facilitates an increasing percent of Clean Energy from 2015 through the end of 2035.

  • Curriculum / Course Development: Commitment to continuous instructional improvement shall be assessed through changes in established courses and design of new courses.

  • As part of the Additional Obligations of the Parties described in Section VII of the Agreement, Interior and any Party that elects to participate shall meet to share information and individual comments on any aspect of the implementation and administration of Interior’s Clean Energy Development Commitment.

  • Social workers are also aware that society cannot go on as it has, and that change is necessary to push toward a more inclusive, fair, democratic, participative and sustainable society, as set out in the Global Agenda for Social Work and Social Development Commitment to Action 2012-2016.

  • Sponsor agrees to make each such Contribution from and after the date Borrower fully utilizes the Available Development Commitment, and each such Contribution shall be in an aggregate amount equal to all payments then due and payable under each relevant Project Document.

  • Scattered Site Developments are not permitted for the Elderly Transformative Preservation Development Commitment.

  • If, within thirty (30) business days after receipt of the notice, the Company fails to commence performance to the reasonable satisfaction of the City, then the City may terminate the waiver of the City’s Fees upon written notice delivered to the Company of same unless and until such time as the Company comes into compliance with the Development Commitment.

  • The Renewal SA’s Economic Development Commitment clauses actually go further, with clauses attached to all Playford Alive contracts regardless of value.

  • Research and Development Commitment The Company entered into a long-term research and development agreement in June 2021, which includes obligations to make an upfront payment and fixed quarterly payments over the next four years.


More Definitions of Development Commitment

Development Commitment means the commitment of SunEdison to submit Projects to the JV Entities providing for an aggregate amount of megawatts of electric energy generating capacity sufficient to require investment of 100% of the aggregate Initial Capital Commitments (assuming a 4:1 ratio of Project Debt Financing to equity with respect to each Project) by no later than three (3) years from the Closing Date; provided that no Project shall count towards the Development Commitment (i) until such time as SunEdison provides the Mandatory Project Due Diligence in respect of such Project or (ii) if the Expected Project Timeline contemplates a date of Substantial Completion (as such term is defined in the EPC Agreement) which is greater than eight (8) months from the date of the notice of Project
Sample 1

Related to Development Commitment

  • Initial Commitment means, as to the Lender, its obligation to make an Initial Loan to the Borrower pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set forth opposite the Lender’s name in Schedule 1.01A under the caption “Initial Commitment”, as such amount may be adjusted from time to time in accordance with this Agreement (including Section 2.14). The initial aggregate amount of the Initial Commitments is $75,000,000.

  • Existing Commitment shall have the meaning provided in Section 2.17.

  • Additional Commitment means any commitment hereunder added pursuant to Sections 2.22, 2.23 or 9.02(c).

  • Designated Revolving Commitments means the amount or amounts of any commitments to make loans or extend credit on a revolving basis to the Company or any of its Restricted Subsidiaries by any Person other than the Company or any of its Restricted Subsidiaries that has or have been designated (but only to the extent so designated) in an Officers’ Certificate delivered to the Trustee as “Designated Revolving Commitments” until such time as the Company subsequently delivers an Officers’ Certificate to the Trustee to the effect that the amount or amounts of such commitments shall no longer constitute “Designated Revolving Commitments.”

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Closing Date is $265,000,000.

  • Initial Term Loan Commitment means the commitment of a Lender to make or otherwise fund an Initial Term Loan and “Initial Term Loan Commitments” means such commitments of all of the Lenders in the aggregate. The amount of each Lender’s Initial Term Loan Commitment, if any, is set forth on Appendix A-1 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Initial Term Loan Commitments as of the Closing Date is $200,000,000.

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Additional Commitments means any commitments hereunder added pursuant to Section 2.22, 2.23 or 9.02(c).

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Total Revolving Commitment means the sum of the Revolving Commitments of the Revolving Lenders as the same may be decreased pursuant to Section 2.12(c) or increased pursuant to Section 2.19. As of the Closing Date, the amount of the Total Revolving Commitment is $100,000,000.

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Aggregate Revolving Commitment means the aggregate of the Revolving Commitments of all of the Revolving Lenders, as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Revolving Commitment is $1,000,000,000.

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(i).

  • Incremental Revolving Commitments has the meaning specified in Section 2.14(a).

  • New Revolving Commitments has the meaning assigned to such term in Section 2.04.

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

  • Total Revolving Commitments at any time, the aggregate amount of the Revolving Commitments then in effect.

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).

  • Group Commitment means with respect to any Purchaser Group the aggregate of the Commitments of each Purchaser within such Purchaser Group.

  • Revolving Commitment Period the period from and including the Closing Date to the Revolving Termination Date.

  • Revolving Commitment means, as to each Lender, its obligation to (a) make Revolving Loans to the Borrower pursuant to Section 2.01, (b) purchase participations in L/C Obligations and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Incremental Commitment shall have the meaning set forth in Section 2.23.

  • New Commitments has the meaning set forth in Section 2.18(a).

  • Other Revolving Commitments means one or more Classes of revolving credit commitments hereunder or extended Revolving Commitments that result from a Refinancing Amendment or a Loan Modification Agreement.

  • Aggregate Revolving Commitments means the Revolving Commitments of all the Lenders. The amount of the Aggregate Revolving Commitments in effect on the Closing Date is SIX HUNDRED MILLION DOLLARS ($600,000,000).