Reserve Commitment definition

Reserve Commitment has the meaning specified in Section 3.4.
Sample 1Sample 2Sample 3

Examples of Reserve Commitment in a sentence

  • Seller will not sell or agree to sell to others coal from such reserves which would jeopardize Seller's ability to supply the total Reserve Commitment during the Term of this Agreement.

  • Pursuant to that certain Credit Agreement dated as of July 10, 1997, as amended from time to time ("Agreement"), among Borrower, the Banks and Agent, credit facilities have been made available to Borrower in a maximum aggregate principal amount of $50,000,000, consisting of a Basic Commitment Amount of $40,000,000 and a Reserve Commitment Amount of $40,000,000.

  • Each such reduction in the Aggregate Commitment Amounts shall be applied first, to the Aggregate Reserve Commitment Amount, and second, to the Aggregate Base Commitment Amount.

  • Once the Aggregate Reserve Commitment Amount has been activated pursuant to this Section, it shall remain activated until the Termination Date.

  • The Borrower shall open and maintain an account (“Loan Repayment Account”) in the name of the Monetary Claim Trustee with the Facility Agent to transfer repayments from the Borrower’s Operating Account for debt service of the Loan and to receive the Interest Reserve Commitment and prepayments.

  • This Agreement shall be effective on May 1, 2004 (the "Effective Date"), and, unless otherwise terminated in accordance with the terms of this Agreement shall remain in effect thereafter for the life of production from the Reserve Commitment Area.

  • Letters of Credit issued hereunder shall constitute utilization of the Debt Service Reserve Commitment or the Working Capital Commitment, as applicable.

  • The Borrower shall pay to the Agent, for the account of the Banks, for the period from October 1, 1998 until the Termination Date, fees (the "Commitment Fees") in an amount determined by applying a rate of (a) .1875% per annum to the sum of the average daily Unused Base Commitment Amount and the daily average Aggregate Activated Amount, and (b) .05% per annum to the average daily Unused Reserve Commitment Amount.

  • Pursuant to that Credit Agreement dated as of July 10, 1997, as amended from time to time ("Agreement"), among Borrower, the Banks and Agent, credit facilities have been made available to Borrower in a maximum aggregate principal amount of $70,000,000, consisting of a Basic Commitment Amount of $40,000,000 and a Reserve Commitment Amount of $30,000,000.

  • On the effective date of the activation of the Aggregate Reserve Commitment Amount, the Company shall pay to the Agent, for the account of the Banks (based on their respective Pro Rata Shares, determined pursuant to clause (a) of the definition thereof), a fee in an amount equal to $10,000.

Related to Reserve Commitment

  • 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.

  • Revolving Loan Commitment means, for each Bank, the amount set forth opposite such Bank's name in Schedule I directly below the column entitled "Revolving Loan Commitment," as same may be (x) reduced from time to time pursuant to Sections 3.02, 3.03 and/or 10 or (y) adjusted from time to time as a result of assignments to or from such Bank pursuant to Section 1.13 or 13.04(b).

  • Loan Commitment has the meaning set forth in Section 2.1.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

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

  • Total Revolving Commitment means the sum of the Revolving Commitments of the Lenders as the same may be decreased or increased pursuant to the terms of this Agreement. As of the Closing Date, the amount of the Total Revolving Commitment is $250,000,000.

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

  • Aggregate Revolving Commitment means, at any time, the aggregate of the Revolving Commitments of all of the Lenders, as increased or reduced from time to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Revolving Commitment is $60,000,000.

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

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

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Unutilized Revolving Loan Commitment means, with respect to any Lender at any time, such Lender's Revolving Loan Commitment at such time less the sum of (i) the aggregate outstanding principal amount of all Revolving Loans made by such Lender at such time and (ii) such Lender's RL Percentage of the Letter of Credit Outstandings at such time.

  • Available Commitment means a Lender’s Commitment minus:

  • Total Unutilized Revolving Loan Commitment means, at any time, an amount equal to the remainder of (x) the Total Revolving Loan Commitment in effect at such time less (y) the sum of (i) the aggregate principal amount of all Revolving Loans and Swingline Loans outstanding at such time plus (ii) the aggregate amount of all Letter of Credit Outstandings at such time.

  • L/C Commitment $50,000,000.

  • Revolving Commitment Percentage means, for each Lender, the percentage identified as its Revolving Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6(c).

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

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