Examples of Used Commitment in a sentence
Not later than two Business Days following the Closing Date, the Partnership shall pay to the Investors by wire transfer of immediately available funds to such account or accounts as the Investors shall designate prior to or on the Closing Date, an amount equal to 7.0% of the Used Commitment Amount (the “Put Premium”).
On the Closing Date, the Partnership will issue such number of Common Units to the Investors as is equal in the aggregate to the Used Commitment Amount divided by the per share Tender Offer Purchase Price at a Purchase Price per Purchased Unit which shall be equal to the per share Tender Offer Purchase Price.
The Bank agrees, on the terms and conditions set forth herein, to make Advances to the Borrower from time to time before the Termination Date; provided that, immediately after each such Advance is made, the Used Commitment shall not exceed the lesser of: (a) the aggregate amount of the Commitment and (b) the Borrowing Base.