Participation Commitment definition

Participation Commitment means each Lender’s obligation to buy a participation of the Letters of Credit issued hereunder.

Participation Commitment means the obligation hereunder of each Lender holding a Revolving Commitment to buy a participation equal to its Revolving Commitment Percentage (subject to any reallocation pursuant to Section 2.22(b)(iii) hereof) in the Swing Loans made by Swing Loan Lender hereunder as provided for in Section 2.4(c) hereof and in the Letters of Credit issued hereunder as provided for in Section 2.14(a) hereof.

Participation Commitment means each Revolving Loan Lender’s obligation to buy a participation of the Letters of Credit issued hereunder.

Examples of Participation Commitment in a sentence

• Please submit the attached MBE/ESB Participation Commitment Form, indicating the percentage of MBE/ESB participation you propose for this project.

• Each Lender’s payment to Agent pursuant to Section 2.12(c) shall be deemed to be a payment in respect of its participation in such Letter of Credit Borrowing and shall constitute a “Participation Advance” from such Lender in satisfaction of its Participation Commitment under this Section 2.12.

• If the vendor submitting the proposal is a qualified MBE and/or WBE, the vendor must include the vendor in the appropriate table on the Participation Commitment Form.

• All work indicated for performance by an approved DBE shall be performed, managed, and supervised by the DBE executing the DBE Participation Commitment Statement.

• Each applicable Lender’s payment to Agent pursuant to Section 2.14(c) shall be deemed to be a payment in respect of its participation in such Letter of Credit Borrowing and shall constitute a “Participation Advance” from such Lender in satisfaction of its Participation Commitment in respect of the applicable Letter of Credit under this Section 2.14.

More Definitions of Participation Commitment

Participation Commitment means each Revolving Loan Lender's obligation to buy a participation of the Letters of Credit issued hereunder.

Participation Commitment has the meaning set forth in Section 3.3.

Participation Commitment means each Lender’s obligation to buy a participation of the Letters of Credit issued hereunder and in the Swing Loans made by Swing Loan Lender hereunder.

Participation Commitment means, in relation to any Participated Tranche, the amount outstanding under that Participated Tranche, if applicable, less an amount equal to the Participant’s Proportion of any amount of the Commitment under that Participated Tranche cancelled or permanently reduced from time to time pursuant to the relevant Credit Agreement and/or Other Portfolio Agreement.

Participation Commitment shall have the meaning set forth in Section 8.1(c).

Participation Commitment means each Revolving Loan Lender's obligation to buy a participation of the Letters of Credit issuedhereunder.

Participation Commitment is defined in Section 9.9.2.