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Negative Commitments
Negative Commitments contract clause examples
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Negative Covenants of Provider. During the Term, Provider shall not without Manager’s prior authorization or approval:

Negative Covenant Basket Classification. For purposes of determining compliance with the provisions of [Sections 7.02, 7.05, 7.06, and 7.13]3]3]3], in the event that a transaction restricted by any such Section meets the criteria of more than one of the permitted categories of restricted transactions described therein, the Borrower may, in its sole discretion, classify or later divide, classify or reclassify all or a portion of such transaction in a manner that complies with the requirements of such Section, and will only be required to include the amount and type of such transaction in one or more of such permitted categories; provided, however, that no such reclassification of a transaction may be made in reliance on a “ratio-based” basket if the ratio required by such basket was not satisfied at the time such transaction was originally consummated. In addition, when calculating a combination of fixed amounts and amounts permitted under ratio-based tests in concurrent transactions, a single transaction or a series of related transactions under a single covenant, any ratio-based tests under such covenant shall be calculated without giving effect to the utilization of such fixed amounts.

Termination of Commitments. Unless previously terminated, # any undrawn portion of the 2019 Term Loan Commitments shall terminate on the last day of the 2019 Term Loan Availability Period and # the Revolving Loan Commitments and all other commitments hereunder shall terminate on the Termination Date.

US Tranche Commitments. Subject to the terms and conditions set forth herein, each US Tranche Lender agrees to make US Tranche Revolving Loans denominated in US Dollars to the US Tranche Borrowers from time to time during the Availability Period in principal amounts at any time outstanding that will not result in # the Aggregate US Tranche Revolving Credit Exposure exceeding the aggregate US Tranche Commitments or # the US Tranche Revolving Credit Exposure of any Lender exceeding its US Tranche Commitment. Within the foregoing limits and subject to the terms and conditions set forth herein, the US Tranche Borrowers may borrow, prepay and reborrow US Tranche Revolving Loans.

Termination of Commitments. Declare the Commitments terminated whereupon the Commitments shall be immediately terminated.

Additional to all other clauses and commitments in this Agreement, both parties acknowledge and agree to the following –

Extension of Commitments. Effective as of the Extension Date, the Termination Date of the Commitment of each Extending Lender identified on [Schedule I] shall be extended to January 26, 2023, which, for purposes of [Section 2.08(d)(ii)] of the Credit Agreement, shall be the "Current Termination Date."

Subject to the conditions set forth in this [Section 2.06(e)], the Borrowers shall have the right at any time and from time to time upon five (5) Business Days prior written notice to each of the Agents to # increase the Aggregate Domestic Commitments by reducing and reallocating by an equivalent amount all or a portion of the Aggregate Canadian Commitments and/or the Aggregate U.K. Commitments and/or the Aggregate PR Commitments to the Aggregate Domestic Commitments, # increase the Aggregate Canadian Commitments (to the extent the same has been previously reallocated to the Aggregate Domestic Commitments or the Aggregate U.K. Commitments or the Aggregate PR Commitments) by reducing and reallocating by an equivalent amount a portion of the Aggregate Domestic Commitments and/or the Aggregate U.K. Commitments and/or the Aggregate PR Commitments to the Aggregate Canadian Commitments, # increase the Aggregate U.K. Commitments (to the extent the same has been previously reallocated to the Aggregate Domestic Commitments or the Aggregate Canadian Commitments or the Aggregate PR Commitments) by reducing and reallocating by an equivalent amount a portion of the Aggregate Domestic Commitments and/or all or a portion of the Aggregate Canadian Commitments and/or the Aggregate PR Commitments to the Aggregate U.K.Canadian Commitments, or (DC) increase the Aggregate PR Commitments (to the extent the same has been previously reallocated to the Aggregate Domestic Commitments or the Aggregate Canadian Commitments or the Aggregate U.K. Commitments) by reducing or reallocating by an equivalent amount a portion of the Aggregate Domestic Commitments and/or Aggregate Canadian Commitments and/or Aggregate U.K. Commitments to the Aggregate PR Commitments.

. The aggregate Delayed Draw Term Loan Commitments shall be automatically and permanently reduced to zero on the earlier of # the date of the advance of Delayed Draw Term Loans pursuant to Section 2.01 and # the last day of the Availability Period.

Terms of Incremental Commitments. Unless otherwise agreed by Administrative Agent and the Lenders (including any Incremental Lender with regard to such Incremental Commitment):

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