Example ContractsClausesAggregate Commitments
Aggregate Commitments
Aggregate Commitments contract clause examples

During the Agreement Effective Period, each Consenting Stakeholder agrees, in respect of all of its Company Claims/Interests, to:

Affirmative Commitments. Except as set forth in Section 8, during the Agreement Effective Period, the Company Parties agree to:

Revolving Commitments. If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall promptly prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this [Section 2.05(c)(i)] unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect.

Revolving Commitments. If at any time # the Outstanding Amount of Revolving Obligations shall exceed the lesser of # the Aggregate Revolving Commitments or # the Borrowing Base, # the Outstanding Amount of Letter of Credit Obligations shall exceed the Letter of Credit Sublimit, or # the Outstanding Amount of Swingline Loans shall exceed the Swingline Sublimit, immediate prepayment will be made on or in respect of the Revolving Obligations in an amount equal to such excess; provided, however, that, except with respect to clause (B), Letter of Credit Obligations shall not be Cash Collateralized hereunder until the Revolving Loans and Swingline Loans have been paid in full.

Subject to the terms and conditions hereof, (i) (x) each Tranche 1 Revolving Lender separately agrees to make revolving credit loans denominated in US Dollars to any Borrower (such loans, the “US Revolving Loans”), # each Tranche 1 Revolving Lender separately agrees to make revolving credit loans denominated in Canadian Dollars, and extend credit by way of Bankers’ Acceptances, to any Borrower (such loans and acceptance of Bankers’ Acceptances, the “Canadian Revolving Loans”) and # each Tranche 1 Revolving Lender separately agrees to make revolving credit loans denominated in Euros to any Borrower (such loans, the “Euro Revolving Loans” and, together with the US Revolving Loans and the Canadian Revolving Loans, the “Revolving Loans”) from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Tranche 1 Revolving Percentage of the sum of # the L/C Obligations then outstanding and # the aggregate principal amount of the Swingline Loans then outstanding, does not exceed the amount of such Lender’s Tranche 1 Revolving Commitment; and # each Tranche 2 Revolving Lender agrees to make US Revolving Loans to any US Borrower, Canadian Borrower or Swedish Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which does not exceed the amount of such Lender’s Tranche 2 Revolving Commitment. During the Revolving Commitment Period, each Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing (including, in the case of Canadian Revolving Loans, by requesting the Tranche 1 Revolving Lenders to accept and purchase Bankers’ Acceptances), all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be # Eurodollar Loans or ABR Loans, in the case of US Revolving Loans, # US Base Rate Loans, in the case of US Revolving Loans borrowed by any Canadian Borrower, # Canadian Prime Rate Loans or Banker’s Acceptances, in the case of Canadian Revolving Loans or # EURIBOR Loans, in the case of Euro Revolving Loans, in each case as determined by the relevant Borrower and notified to the Administrative Agent in accordance with [Sections 2.2, 2.3 and 2.11]1]1].

Minimum Commitments. The aggregate amount of the increases in the Revolving Credit Commitments and Incremental Term Loans at any time provided by New Lenders and/or an Increasing Lenders shall be at least $40,000,000.

Term Commitments. Subject to the terms and conditions hereof, each Initial Term Lender agrees to make an Initial Term Loan to the Borrower on the Closing Date in an amount equal to the amount of the Initial Term Commitment of such Lender. Such Term Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with [Sections 2.2 and 2.11], and once repaid in accordance with the provisions hereof may not be reborrowed.

Aggregate Individual Performance Factor. The Individual Performance Factor to be used in the calculation of the Accrued Bonus, unless otherwise determined by the Compensation Committee for a particular Plan Year, shall be equal to the sum of

Aggregate Earn-Out Amount. In addition to the Closing Stock Consideration, Parent will pay an additional aggregate amount up to $9,000,000 (the “Earn-Out Amount”) as determined in accordance with [Schedule 2.10]. The Earn-Out Amount shall be payable in accordance with the Spreadsheet delivered by the Stockholder Representative.

Increase in Commitments. Borrowers may request an increase in Commitments from time to time upon not less than 30 days’ notice to Lender, as long as # the requested increase is in a minimum amount of $5,000,000 and is offered on the same terms as existing Commitments, and # total increases under this Section do not exceed $25,000,000 and no more than 5 increases are made. Total Commitments shall be increased by the requested amount (or such lesser amount committed by Lender) on a date agreed upon by Lender and Borrower Agent, provided # the conditions set forth in Section 6.2 are satisfied at such time; and # to the extent Collateral includes any Real Estate, flood insurance diligence and documentation have been completed as required by all Flood Laws or otherwise in a manner satisfactory to all Lender. Lender and Obligors shall execute and deliver such documents and agreements as Lender deems appropriate to evidence the increase in and allocations of Commitments.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.