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Commitment
Commitment contract clause examples
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Title Commitment. Within seven (7) days after the Effective Date, Seller, at its expense, shall order and deliver to Buyer a title commitment for the Property in the amount of the Purchase Price from Escrow Agent and obtain a copy of all documents which constitute exceptions to the title commitment. Buyer shall give Seller written notice within twenty (20) days following receipt of the Title Commitment of any condition of title (exceptions or requirements) that is not satisfactory to Buyer. Seller may, but shall not be obligated, to resolve such matters; provided, however, that mortgage liens may be resolved at closing. If Seller is unable or unwilling to resolve such matters before the expiration of the Inspection Period as defined above, then Buyer may, at Buyer’s sole option, either # accept title subject to the objections raised by Buyer and such accepted objections shall become Permitted Exceptions (“Permitted Exceptions”) without any adjustment in the Purchase Price, or # terminate this Agreement prior to the expiration of the Inspection Period pursuant to Paragraph 4 above, whereupon the earnest monies shall be immediately returned to Buyer by Escrow Agent, or # work with Seller, if mutually agreeable, to satisfy unacceptable matters and postpone the end of the Inspection Period and/or Closing Date to satisfy these matters. At Closing, Seller shall provide Buyer with an owner’s policy of title insurance in the amount of the Purchase Price. Seller shall pay the cost for the basic cost of the owner’s policy of title insurance, and Buyer shall pay the cost for all endorsements, changes, and modifications to the owner’s policy of title insurance.

Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Revolving Lender in accordance with its Applicable Revolving Percentage, a commitment fee in Dollars equal to the Applicable Rate times the actual daily amount by which the Revolving Facility exceeds the sum of # the Outstanding Amount of Revolving Loans and # the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.15. For the avoidance of doubt, the Outstanding Amount of Swingline Loans shall not be counted towards or considered usage of the Revolving Facility for purposes of determining the commitment fee. The commitment fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the last day of the Availability Period for the Revolving Facility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.

Commitment Fee. The Company and the Borrowing Subsidiaries hereby jointly and severally agree to pay to the Agent for the account of [[Organization B:Organization]], ratably in proportion to their Commitments, a commitment fee (the “Commitment Fee”) at a rate per annum equal to the Applicable Commitment Fee Rate on the daily average unused amount of the Commitments, which fee shall be payable in arrears on the third Business Day following the last day of March, June, September and December of each year commencing on December 31, 2019 and with a final payment due and payable on the Termination Date. For the purposes of determining the amount of the Commitment Fee, outstanding Competitive Bid Loans shall be deemed not to be a usage of the Commitments.

Commitment Schedule. Subject to the terms and conditions set forth herein, each Term A-1 Lender and each Term A-2 Lender hereby agrees that its Term A-1 Commitment and Term A-2 Commitments are in the amounts set forth opposite such Term A-1 Lender’s and each Term A-2 Lender’s name on [Schedule 2].01A attached hereto.

Commitment Fee. In connection with the Commencement, [[Company:Organization]] shall pay to [[Investor:Organization]], as consideration for [[Investor:Organization]] entering into this Agreement a commitment fee in the form of 428,571 restricted shares of Common Stock (the “Commitment Fee”) with no registration rights, which shall be delivered upon the written request of [[Investor:Organization]]. [[Company:Organization]] shall register the offer and sale of the Purchase Shares by [[Investor:Organization]] on a Form S-1 covering the Commitment Amount with the SEC within 45 days of the date of this Agreement. If [[Company:Organization]] has not filed the Form S-1 by such date, then for each 15-day period thereafter, the Commitment Fee will increase by $5,000, capped at $25,000.

Title Commitment. On the Effective Date, Seller shall order (and deliver to Purchaser upon receipt of same) # a written commitment from the Title Company to issue its ALTA Title Insurance Policy relating to the Real Property in an amount equal to the Purchase Price (the “Title Commitment”) and # an update to the Boundary Survey prepared by George F. Young, Inc., identified as Job No. [[Unknown Identifier]] and dated August 30, 2017 (the “Survey”). The Title Commitment delivered hereunder shall be conclusive evidence of good and marketable title as therein shown, subject only to those exceptions as therein stated.

Revolving Loan Commitment. Subject to the terms and conditions set forth herein and pursuant to this Section 2.1, each Revolving Loan [[Organization A:Organization]] severally agrees to make revolving loans (each a “Revolving Loan” and collectively the “Revolving Loans”) to the Borrowers, in Dollars, at any time and from time to time, during the period from and including the Effective Date to, but not including, the Revolving Loan Maturity Date or such earlier date as the Revolving Committed Amount has been terminated as provided herein; provided, however, that # the sum of the aggregate principal amount of Revolving Loans outstanding plus the aggregate amount of LOC Obligations outstanding shall not exceed the Revolving Committed Amount, # with respect to each individual [[Organization A:Organization]], such [[Organization A:Organization]]’s pro rata share of outstanding Committed Loans plus such [[Organization A:Organization]]’s pro rata share of outstanding LOC Obligations shall not exceed such [[Organization A:Organization]]’s Revolving Loan Commitment and # the aggregate principal amount of such Revolving Loan shall not exceed the Revolving Credit Availability at such time. Subject to the terms of this Credit Agreement (including Section 3.3), the Borrowers may borrow, repay and reborrow Revolving Loans. The Administrative Agent shall keep a record of the purpose for which each of the Loans was advanced (and of repayments applied thereto), which record shall be conclusive absent prima facie error.

Working Capital Commitment. HLTT will contribute working capital as needed for the conduct of the Wound Care Business by HWC and/or PBI. HLTT will make the capital contributions to HWC, and HWC shall in turn make non-interest-bearing demand loans as needed by PBI to carry on its Wound Care Business. HLTT’s obligation to contribute working capital to HWC (for itself or for PBI) will terminate upon the earlier of these events:

Commitment Fees Payable. The Borrower shall, subject to [Section 11.5(b)(ii)(y)], pay to the Class A-R Lenders pursuant to [Section 6.4 or 9.1]1], as applicable, ratably in proportion to their respective Percentage Shares of the Undrawn Commitment (provided that if the Class A-R Commitment of any Class A-R Lender is reduced as the result of a Bail-In Action, such Lender’s Percentage Share of the Undrawn Commitment shall be calculated based on its Class A-R Commitment as so reduced), a commitment fee (a “Commitment Fee”) accruing for each day during each Interest Period equal to the product of the Commitment Fee Rate and the undrawn amount of the Total Class A-R Commitment as of the end of such day.

Standby Commitment Fee. Commencing November 15, 2017, at the end of each three months of the loan term, Borrower shall pay to Lender a standby commitment fee equal to one quarter of one percent (0.25%) per annum of the difference between # the total amount for which Lender was committed to advance on the line of credit hereunder during the preceding three months and # the average daily principal amount outstanding and owing by Borrower on the line of credit during such period.

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