Examples of Seasonal Commitment in a sentence
On such date the Maximum Amount for each Bank shall be decreased to the amount set forth opposite such Bank's name under the column headed "Maximum Amount during Seasonal Commitment Decrease Period." On the date of each such reduction, Borrowers shall have prepaid an aggregate amount of Loans, together with interest and facility and other fees accrued and unpaid thereon, so that the Revolving Credit Exposure shall not exceed the Total Commitment Amount as then in effect.
On the first day of each Seasonal Commitment Decrease Period, without notice of any kind to Borrowers, the Total Commitment Amount shall automatically be reduced to the Seasonal Reduced Commitment Amount.
So long as no Default or Event of Default shall exist or immediately thereafter shall begin to exist, on the first day after the last day of each Seasonal Commitment Decrease Period, the Total Commitment Amount shall automatically be increased to the Maximum Commitment Amount.
The Total Commitment Amount shall remain reduced pursuant to this subpart (i) during the Seasonal Commitment Decrease Period unless and until increased pursuant to subpart (ii) below.
Seasonal Commitment Fee Allocation (April 2019 Motion) - Needs to be entered into GL codes properly to show this line separately and described properly to insure no confusion in the future.
On such date the Maximum Amount for each Bank shall be increase to the amount set forth opposite such Bank's name under the column headed "Maximum Amount other than during any Seasonal Commitment Decrease Period." The Total Commitment Amount shall remain increased pursuant to this subpart (ii) until decreased pursuant to subpart (i) above.
Not less than five nor more than ten days prior to the first Business Day of each month from July through December of each year, the Company may by written notice to the Agent designate all or any portion of the Aggregate Seasonal Commitment Amount as available for the period from the first Business Day of the following month until the day before the first Business Day of the second following month (each such period, a "Designation Period").
Dollars of all Accommodation outstanding under the Seasonal Credit advanced by such Lender will not at any time exceed such Lender’s Seasonal Commitment (as such limit may be revised, adjusted or reduced from time to time pursuant to the provisions of this Agreement).
Any Advances requested by the Borrowers in excess of $75,000,000 during the Initial Seasonal Commitment Amount Period or the Winter 2005 Seasonal Commitment Period shall be in integral multiples of $2,500,000.
Agent shall have no obligation to issue a Letter of Credit if the following would result in the aggregate amount of all undrawn or unreimbursed Letters of Credit exceeding the lower of (x) the Seasonal Commitment Amount less the amount of outstanding Advances (including any Agent Advances and Agent Loans); or (y) $5,000,000.