Replacement Commitment definition

Replacement Commitment has the meaning specified in Section 1018 of this Indenture.

Replacement Commitment has the meaning set forth in Section 7.08(b).

Replacement Commitment means the Commitment of any Lender (including any Replacement Lender) to make an additional Tranche A Loan and additional Construction Loans pursuant to Sections 2.1 and 2.2."

Examples of Replacement Commitment in a sentence

• The Commitment Premium shall be payable, in accordance with Section 3.2, to the Commitment Parties (including any Replacement Commitment Party, but excluding any Defaulting Commitment Party) or their designees, provided such designees are U.S. Citizens in the case of any payment in the form of Common Shares, in proportion to their respective Backstop Commitment Percentages at the time the payment of the Commitment Premium is made.

• The Backstop Commitment Premium shall be payable, in accordance with Section 3.2, to the Commitment Parties (including any Replacement Commitment Party, but excluding any Defaulting Commitment Party) or their designees in proportion to their respective Backstop Commitment Percentages at the time the payment of the Backstop Commitment Premium is made.

• The Rights Offering Expiration Time shall have occurred, and the amount subscribed in the Rights Offering, together with the amount held on deposit in the Escrow Funding Account or otherwise received by the Debtors from any Replacement Commitment Party, shall in the aggregate equal at least $27 million.

• The applicable Commitment Premium shall be payable in Exit Notes in accordance with Section 3.2, to the Commitment Parties and Initial Private Placement Investors (including any Replacement Commitment Party and Replacement Private Placement Party, but excluding any Defaulting Commitment Party or Defaulting Private Placement Party) or their designees in proportion to their respective Backstop Commitment Percentages at the time the payment of the applicable Commitment Premium is made.

• The Commitment Premium shall be payable, in accordance with Section 3.2, to the Commitment Parties (including any Replacement Commitment Party, but excluding any Defaulting Commitment Party) or their designees in the amounts set forth on Schedule 2.

• Executive’s Base Salary may be adjusted and determined periodically by Employer’s Board of Directors; provided, however, that a Base Salary established under this Agreement will remain in effect until the Board has completed its next annual review of Executive’s performance..

• Customer’s right to receive service credit(s) will be Customer’s exclusive remedy for Terremark’s failure to satisfy the Hardware Replacement Commitment.

• Purchaser and its Affiliates shall keep Seller informed in reasonable detail as to the status of arranging any Replacement Commitment Facility (as defined in the Debt Commitment Letter dated as of the date hereof) and provide copies of such commitments to Seller, it being agreed and understood that such commitments shall have identical conditionality as set forth in Annex III to the Debt Commitment Letter as of the date hereof.

• Notwithstanding anything to the contrary set forth herein, Parent agrees that, at any time prior to the delivery of the Commitment Letter or the Replacement Commitment Letter to the Company, any payment obligations of the Company to Parent pursuant to this Section 10.3, or under any other circumstances if the Merger does not occur, shall not exceed in the aggregate $3,000,000.

• Each Receivable that is identified by Company as an Eligible Receivable in a Commitment Base Certificate satisfies all of the criteria set forth in the definition of Eligibility Criteria (other than any Receivable identified as an Eligible Receivable in any Original Commitment Base Certificate to the extent a Replacement Commitment Base Certificate has been delivered in substitute thereof in accordance with Section 2.1(c)(ii)).

More Definitions of Replacement Commitment

Replacement Commitment means, as to each Lender, its obligation to make a Replacement Loan to the Borrower pursuant to Section 2.01(d) in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Replacement Commitment”, as such amount may be adjusted from time to time in accordance with this Agreement. The initial aggregate amount of the Replacement Commitments is $2,338,250,000.