UK Commitments definition

UK Commitments means, as to each UK Lender, its obligation to (a) make UK Loans to the UK Borrower pursuant to Section 2.1 and (b) purchase participations in UK Letter of Credit Outstandings, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such UK Lender’s name on Schedule 1.1 or in the Assignment and Acceptance pursuant to which such UK Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

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UK Commitments means the aggregate commitments of the UK Banks under the UK Facility.

UK Commitments means the aggregate amount of all U.K. Lenders’ U.K. Commitments. As of the FirstSecond Amendment Effective Date, the aggregate amount of the U.K. Commitments is $35,000,000. U.K. Commitment Termination Date: the earliest to occur of (a) the U.S. Commitment Termination Date; (b) the date on which U.K. Borrowers terminate the U.K. Commitments pursuant to Section 2.1.4; or (c) the date on which the U.K. Commitments are terminated pursuant to Section 11.2. U.K. CTA: Corporation Tax Act 2009 (U.K.) as amended from time to time. U.K. Debenture: the debenture governed by English law and executed by the U.K. Domiciled Obligors in favour of the Agent.

Examples of UK Commitments in a sentence

The sum of the U.K. Commitments of the U.K. Banks, as in effect from time to time.
Each such reduction shall (i) be applied ratably to the UK Commitments of each UK Lender and (ii) be irrevocable when given.
At the effective time of each such reduction, the UK Borrower shall pay to the Agent for application as provided herein (i) any amount by which the UK Credit Extensions outstanding on such date exceed the amount to which the UK Commitments are to be reduced effective on such date, in each case pro rata based on the amount prepaid, and (ii) any Breakage Costs, if applicable.
The Canadian Commitments and the UK Commitments shall be automatically terminated upon any termination of the Domestic Commitments.
Should the right of any Lender to realize funds in any manner set forth hereinabove be challenged and any application of such funds be reversed, whether by court order or otherwise, the Lenders shall make restitution or refund to U.S. Borrower, Canadian Borrower or U.K. Borrower or the applicable other Obligor, as the case may be, pro rata in accordance with their U.S. Commitments, Canadian Commitments or U.K. Commitments, as the case may be.
On the Termination Date, all U.S. Commitments, Canadian Commitments and U.K. Commitments shall be terminated in their entirety.
Whether or not Borrower Agent submits a Notice of Borrowing, U.K. Borrowers shall be deemed to have requested a Borrowing of U.K. Base Rate Loans in an amount necessary to pay all amounts due Issuing Bank on any U.K. Reimbursement Date and each U.K. Lender shall fund its Pro Rata share of such Borrowing whether or not the U.K. Commitments have terminated, a U.K. Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied.
Any notice of termination given by Borrowers shall be irrevocable, provided that a notice of termination in full of the U.S. Commitments or the U.K. Commitments may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by notice to Agent prior to the specified effective date if such condition is not satisfied.
In no event shall Loans be required that would cause (1) the U.S. Revolver Usage to exceed the aggregate U.S. Commitments or (2) the U.K. Revolver Usage to exceed the aggregate U.K. Commitments.
If the U.S. Borrowers elect to reduce to zero or terminate the U.S. Commitments pursuant to this Section, the U.K. Commitments shall automatically terminate concurrently with the termination of the U.S. Commitments.

More Definitions of UK Commitments

UK Commitments means, as to each UK Lender, its obligation to (a) make UK Loans to the UK Borrower pursuant to Section

UK Commitments means, as to each UK Lender, its obligation to (a) make UK Committed Loans to the UK Borrower pursuant to Section 2.01, (b) purchase participations in UK L/C Obligations, and (c) purchase participations in UK Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such UK Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such UK Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. As of the Closing Date, the UK Commitments are $30,000,000. “UK Credit Party” or “UK Credit Parties” means (a) individually, (i) each UK Lender, (ii) the Agent, (iii) each L/C Issuer, (iv) the Arranger, (v) any other Person to whom UK Obligations are owing, and (vi) the successors and permitted assigns of each of the foregoing, and (b) collectively, all of the foregoing, in each case, to the extent relating to the services provided to, and obligations owing by or guaranteed by, the UK Loan Parties.

UK Commitments means the aggregate amount of all U.K. Lenders’ U.K. Commitments. As of the Closing Date, the aggregate amount of the U.K. Commitments is $35,000,000. U.K. Commitment Termination Date: the earliest to occur of (a) the U.S. Commitment Termination Date; (b) the date on which U.K. Borrowers terminate the U.K. Commitments pursuant to Section 2.1.4; or (c) the date on which the U.K. Commitments are terminated pursuant to Section 11.2. U.K. CTA: Corporation Tax ▇▇▇ ▇▇▇▇ (U.K.) as amended from time to time.