Effective Date Commitment definition

Effective Date Commitment means the Revolving Facility Commitment of a Revolving Facility Lender set out opposite its name in the column headed “Revolving Facility Commitments” in Schedule 1 (The Revolving Facility Lenders);

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Effective Date Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make an Effective Date Term Loan expressed as an amount representing the maximum principal amount of the Effective Date Term Loans to be made by such Lender. The initial amount of each Lender’s Effective Date Term Commitment is set forth on Schedule 2.1. The aggregate amount of the Lenders’ Effective Date Commitment on the Effective Date is $95,000,000.

Effective Date Commitment means, as to each Lender, its obligation to continue Existing Term Loans under the Existing Credit Agreement to be Term Loans under this Agreement on the Effective Date pursuant to Section 2.01(a) equal to the amount set forth opposite such Lender’s name on Schedule 2.01 as its Effective Date Commitment 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. The Effective Date Commitment of each Lender shall be automatically and permanently reduced to $0 (zero) upon the continuation of the Continuing Term Loans pursuant to Section 2.01(a) on the Effective Date.

Examples of Effective Date Commitment in a sentence

The Borrower agrees to pay to the Lender, a Second Revised Effective Date Commitment Fee in an amount equal to $1,250,000, which amount shall be deemed to have been earned on the Second Revised Effective Date.
Title: Director Names and Address of Banks Second Amendment Effective Date Commitment Incremental Facility Effectiveness Date Commitment Aggregate Commitment JPMorgan Chase Bank, N.A. JPMorgan Loan Services ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, 10th Floor Houston, TX 77002 Attn: ▇▇▇▇ ▇▇▇▇▇ Tel: ▇▇▇-▇▇▇-▇▇▇▇ Telecopy: ▇▇▇-▇▇▇-▇▇▇▇ ▇▇▇▇.▇.▇▇▇▇▇@▇▇▇▇▇▇▇▇.▇▇▇ $ 115,550,000.00 $ 98,000,000.00 $ 213,550,000.00 Mizuho Bank, Ltd.
Each Bank's outstanding Term Loan and Revolving Loan, upon giving effect to the foregoing, shall in each case be an amount equal to (i) the aggregate amount of Term Loans and Revolving Loans, as the case may be, (ii) multiplied by the percentage set forth for such Bank in clause (b) of the definition of Effective Date Commitment Amount.
Upon the making of a New Loan by a Remaining Bank on the Effective Date, such Remaining Bank's Effective Date Commitment shall be terminated.
For the avoidance of doubt, the Second Effective Date Commitment shall not be reduced by any cash proceeds from any cash equity financing received on or prior to the Effective Date from any person, including, without limitation, the cash equity financing provided by Terrapin on or about 22 June 2015, as described in Clause 7.2(a) (Terrapin Equity Financing).
Thermo hereby acknowledges and agrees that its obligation to fund the Equity Commitments to the Borrower shall be irrevocable and subject only to the conditions expressly set forth herein, provided that Thermo’s obligation to provide the Effective Date Commitment is conditioned upon the satisfaction or waiver in writing of all of the conditions set forth in Section 5 hereof and the closing of the Exchange Transaction as set forth herein.

More Definitions of Effective Date Commitment

Effective Date Commitment means, (i) with respect to each Exchanging Consenting Lender, the commitment of such Lender to exchange its Tranche B-2 Loans and Tranche B-3 Loans (each as defined in the Consent and Exchange Agreement) for an equal aggregate principal amount of Loans on the Effective Date pursuant to the Consent and Exchange Agreement and Section 2.01(a) and (ii) with respect to the Additional Lender, its Additional Commitment. The aggregate principal amount of the Effective Date Commitments on the Effective Date is $582,432,855.21.

Effective Date Commitment means, as to any Remaining Bank, (i) 94.73237% of the Commitment of such Remaining Bank LESS (ii) the principal amount of Old Loans of such Remaining Bank outstanding immediately prior to the Effective Date.

Effective Date Commitment means, with respect to each Lender, the obligation of such Lender to make Advances in accordance with the terms and conditions of this Agreement on the Effective Date; provided that, no Lender shall be obligated to make any Advances in an excess of such Lender’s respective commitment amount set forth on Schedule I hereto. For the avoidance of doubt, the aggregate amount of the Effective Date Commitments on the Effective Date is $68,445,745.

Effective Date Commitment has the meaning given to such term in the Amended and Restated Facility Agreement.

Effective Date Commitment means the equity commitment made by Thermo in respect of the Borrower prior to the Effective Date pursuant to the Restructuring Support and Consent Agreement in an amount equal to US$25,000,000.

Effective Date Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make an Effective Date Term Loan expressed as an amount representing the maximum principal amount of the Effective Date Term Loans to be made by such Lender. The initial amount of each Lender’s Effective Date Term Commitment is set forth on S chedule 2.1. The aggregate amount of the Lenders’ Effective Date Commitment on the Effective Date is $95,000,000.