Undrawn Commitment means, with respect to any Revolving Lender at any time, an amount (which may not be less than zero) equal to (i) such Lender’s Revolving Commitment at such time minus (ii) the aggregate outstanding principal amount of Revolving Loans held by such Revolving Lender at such time.
Undrawn Commitment means, with respect to an Interestholder, the amount of such Interestholder’s Commitment as of any date reduced by the aggregate amount of capital contributions made by that Interestholder at all previous drawdown dates and amounts reinvested by the Fund (excluding recyclable amounts, as described in the Prospectus), and increased by any distributions made by the Fund to such Interestholder that represent recyclable amounts or recallable amounts (as described in the Prospectus).
Undrawn Commitment means, with respect to any Lender at any time, an amount (which may not be less than zero) equal to the undrawn portion of such Lender’s Commitment at such time.
Examples of Undrawn Commitment in a sentence
The obligation of Common Unitholders to fund Undrawn Commitment is without defense, counterclaim or offset of any kind.
The name, address and e-mail address, the number and class of Units held and the Commitment and Undrawn Commitment of each Member are set forth in the books and records of the Company.
The Company may not retain Proceeds for the purpose of making a Portfolio Investment to the extent such retention would cause the Undrawn Commitment of the Common Units to be reduced below zero.
Notwithstanding the foregoing, once the Undrawn Commitment of the Common Units is reduced to zero, the Company may continue to retain Proceeds that represent net investment income for the purpose of paying its operating costs (including expenses, the Management Fee, the Incentive Fee, payments to the Administrator and any indemnification obligations), debt service or other obligations of any borrowings, guarantees or other obligations the Company has made.
Such reimbursement shall not be treated as a capital contribution or reduce the Undrawn Commitment of any Member.
More Definitions of Undrawn Commitment
Undrawn Commitment means any arrangement of a merchant bank with any person (including other branches of the merchant bank) which would pose liquidity risk to the merchant bank in the event the person or a third party in whose favour the arrangement is made, utilises or calls upon the commitment, such as any unutilised portion of a guarantee, any standby letter of credit, any warranty, any standby credit facility, any forward asset purchase, any underwriting arrangements, any credit protection sold by the merchant bank and any liquidity facilities granted by the merchant bank, but does not include any arrangement where the drawdown or utilisation is subject to the approval of the merchant bank at the point of drawdown, and the merchant bank has the unconditional right to refuse drawdown.
Undrawn Commitment means, with respect to a Common Unitholder, the amount of such Common Unitholder’s Commitment as of any date reduced by the aggregate amount of capital contributions made by that Common Unitholder at all previous Drawdown Dates and Catch-Up Dates and amounts reinvested by the Company (excluding Recyclable Amounts), and increased by any distributions made by the Company to such Common Unitholder that represent Recyclable Amounts or Recallable Amounts, each as defined in 4.4.2. For the avoidance of doubt, “then-current NAV per Unit” as set forth in this 3.3 will consist of the NAV per Unit calculated in accordance with the valuation procedures adopted by the Company, as may be amended from time to time.
Undrawn Commitment as to any Bank at any time, the amount of such Bank's Commitment minus the amount of such Bank's Committed Exposure at such time but not less than zero.
Undrawn Commitment means as of a date the amount of any Class B Limited Partner’s Commitment reduced by the amount of all Capital Contributions made by such Partner (but excluding, for the avoidance of doubt, any deemed contributions made pursuant to Section 5.2(a)).
Undrawn Commitment means, with respect to a Common Unitholder, the amount of such Common Unitholder’s Commitment as of any date reduced by the aggregate amount of contributions made by that Common Unitholder at all previous Drawdown Dates and Catch-Up Dates, and increased by the aggregate amount of Returned Capital received by that Common Unitholder as set forth in 4.4.2. For the avoidance of doubt, “then-current NAV per Unit” as set forth in this 3.4 may consist of the NAV per Unit calculated at the end of the most recent calendar month prior to the date of the applicable drawdown notice or issuance date.
Undrawn Commitment means, with respect to a Member, the amount of such Member’s Commitment as of any date reduced by the aggregate amount of contributions made by that Member at all previous Drawdown Dates. For the avoidance of doubt, the “then-current NAV per Unit” as set forth in this Section 3.4 may be based on the NAV per Unit calculated at the end of the most recent calendar month prior to the date of the applicable drawdown notice or issuance date, subject to adjustments for material changes and to the limitations of the Investment Company Act (which generally prohibit the Company from issuing Units at a price below the then-current NAV of the Units as determined within 48 hours, excluding Sundays and holidays, of such issuance, subject to certain exceptions).