Allocation of Commitments Clause Samples
The Allocation of Commitments clause defines how obligations or responsibilities are distributed among the parties involved in an agreement. Typically, this clause specifies the proportion or manner in which each party is required to fulfill certain duties, such as financial contributions, delivery of goods, or provision of services. For example, in a syndicated loan, it would outline how much each lender is responsible for lending to the borrower. The core function of this clause is to ensure clarity and fairness in dividing commitments, thereby preventing disputes and misunderstandings regarding each party's role and obligations.
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Allocation of Commitments. Schedule I hereto contains an allocation for each Participant of (i) the amount of its Commitment representing its Tranche A Loan Commitment ("Tranche A Loan Commitment"), (ii) the amount of its commitment representing its Tranche B Loan Commitment ("Tranche B Loan Commitment"), (iii) the amount of its commitment representing its Certificate Purchaser Commitment ("Certificate Commitment"), (iv) the amount of its Commitment (and allocation to its Tranche A Loan Commitment and Tranche B Loan Commitment) allocated to the 364 Day Commitment, and (v) the amount of its Commitment (and allocation to its Tranche A Loan Commitment, Tranche B Loan Commitment and Certificate Commitment) allocated to the Eighteen Month Commitment. The Lessee, the Lessor and the Participants have approved all such allocations and commitments. Schedule I shall be amended as required to reflect changes in the allocations set forth thereon due to the addition of additional Participants pursuant to Section 12.1.
Allocation of Commitments. The Commitments of each Lender shall be established and allocated in accordance with the provisions of this Clause 5.
Allocation of Commitments. Schedule I hereto contains an ------------------------- ---------- allocation for each Participant of (i) the amount of its Commitment representing its Tranche A Participation Interest ("Tranche A Participation Interest -------------------------------- Commitment"), including its Tranche A Land Participation Interest Commitment ---------- ("Tranche A Land Participation Interest Commitment") and its Tranche A ------------------------------------------------ Improvements Participation Interest Commitment ("Tranche A Improvements ---------------------- Participation Interest Commitment"), (ii) the amount of its Commitment --------------------------------- representing its Tranche B Participation Interest ("Tranche B Participation ----------------------- Interest Commitment"), including its Tranche B Land Participation Interest ------------------- Commitment ("Tranche B Land Participation Interest ------------------------------------- Commitment") and its Tranche B Improvements Participation Interest Commitment ---------- ("Tranche B Improvements Participation Interest Commitment"), (iii) the amount -------------------------------------------------------- of its Commitment representing its Tranche C Equity Interest ("Tranche C Equity ---------------- Interest Commitment"), including its Tranche C Equity Interest Land Commitment ------------------- ("Tranche C Equity Interest Land Commitment") and its Tranche C Equity Interest ----------------------------------------- Improvements Commitment ("Tranche C Equity Interest Improvements Commitment"), ------------------------------------------------- and (iv) the percentage referred to in the definition of the term "Participation Interest" in effect both prior to, and from and after, the Completion Date. The Lessee, the Lessor, the Agent and the Participants have approved all such allocations and percentages. Schedule I shall be amended as required to reflect ---------- any changes in the allocations set forth thereon due to transfers among Participants or the addition of additional Participants pursuant to Section ------- 12.1. ----
Allocation of Commitments. SCHEDULE I hereto contains an allocation for each Participant of (i) the amount of its Commitment representing its Tranche A Participation Interest ("TRANCHE A PARTICIPATION INTEREST COMMITMENT"), including its Tranche A Existing Facility Participation Interest Commitment ("TRANCHE A EXISTING FACILITY PARTICIPATION INTEREST COMMITMENT"), and its Tranche A Tenant Improvements Participation Interest Commitment ("TRANCHE A TENANT IMPROVEMENTS PARTICIPATION INTEREST COMMITMENT"), (ii) the amount of its Commitment representing its Tranche B Participation Interest ("TRANCHE B PARTICIPATION INTEREST COMMITMENT"), including its Tranche B Existing Facility Participation Interest Commitment ("TRANCHE B EXISTING FACILITY PARTICIPATION INTEREST COMMITMENT") and its Tranche B Tenant Improvements Participation Interest Commitment ("TRANCHE B TENANT IMPROVEMENTS PARTICIPATION INTEREST COMMITMENT") and (iii) the amount of its Commitment representing its Tranche C Equity Interest ("TRANCHE C EQUITY INTEREST COMMITMENT"), including its Tranche C Equity Interest Existing Facility Commitment ("TRANCHE C EQUITY INTEREST EXISTING FACILITY COMMITMENT") and its Tranche C Equity Interest Tenant Improvements Commitment ("TRANCHE C EQUITY INTEREST TENANT IMPROVEMENTS COMMITMENT"). The Lessee, the Lessor, the Agent and the Participants have approved all such allocations and percentages. SCHEDULE I shall be amended (including adding Tranche A Expansion Improvements Participation Interest Commitments, Tranche B Expansion Improvements Participation Interest Commitments, and Tranche C Equity Interest Expansion Improvements Commitments in effect prior to and after the Completion Date with respect to Expansion Improvements) as required to reflect any increase in the Total Commitment in accordance with SECTION 3.6(d) and to reflect changes in the allocations set forth thereon due to the addition of additional Participants pursuant to SECTION 12.1.
Allocation of Commitments. Schedule I hereto contains an allocation for each Participant of (i) the amount of its Commitment to fund the purchase of its Tranche A Participation Interest ("Tranche A Participation Interest Commitment"), (ii) the amount of its Commitment to purchase its Tranche B Participation Interest ("Tranche B Participation Interest Commitment"), (iii) in the case of Lessor as the Tranche C Participant, the amount of its Commitment to fund the equity investment representing its Tranche C Participation Interest ("Tranche C Participation Interest Commitment"), (iv) the amount of its Commitment (and allocation to its Tranche A Participation Interest Commitment, Tranche B Participation Interest Commitment and, in the case of Lessor, Tranche C Participation Interest Commitment), and (v) the percentage referred to in the definition of the term "Participation Interest." Lessee, Lessor and the other Participants have approved all such allocations and percentages. Schedule I shall be amended as required to reflect changes in the allocations set forth thereon due to the addition of additional Participants pursuant to Section 12.1.
Allocation of Commitments. Schedule I hereto contains ------------------------- ---------- an allocation for each Participant of (i) the amount of its Commitment representing its Tranche A Participation Interest ("Tranche A Participation ----------------------- Interest Commitment"), (ii) the amount of its commitment representing its ------------------- Tranche B Participation Interest ("Tranche B Participation Interest -------------------------------- Commitment"), and (iii) the percentage referred to in the definition of the term "Participation Interest". The Lessee, the Lessor and the Participants have approved all such allocations and percentages. Schedule I shall be amended as required to reflect changes in the allocations set forth thereon due to the addition of additional Participants pursuant to Section 12.1. ------------
Allocation of Commitments. Schedule I hereto contains an allocation for each Participant of (i) the amount of its Commitment representing its Tranche A Participation Interest ("Tranche A Participation Interest Commitment"), (ii) the amount of its commitment representing its Tranche B Participation Interest ("Tranche B Participation Interest Commitment"), and (iii) the percentage referred to in the definition of the term "Participation Interest". The Lessee, the Lessor and the Participants have approved all such allocations and percentages. Schedule I shall be amended as required to reflect changes in the allocations set forth thereon due to the addition of additional Participants pursuant to Section 12.1.
Allocation of Commitments. Section 3.6 Termination, Reduction or Extension of Participants' Commitments.
Allocation of Commitments. Schedule I hereto contains an ------------------------- ---------- allocation for each Participant of (i) the amount of its Commitment representing its Tranche A Participation Interest ("Tranche A Participation ----------------------- Interest Commitment"), (ii) the amount of its commitment representing its ------------------- Tranche B Participation Interest ("Tranche B Participation Interest --------------------------------- Commitment"), and (iii) the percentage referred to in the definition of the term ---------- "Participation Interest". The Lessee, the Lessor and the Participants have approved all such allocations and percentages. Schedule I shall be amended (i) as required to reflect changes in the allocations set forth thereon due to the addition of additional Participants pursuant to Section 12.1 and (ii) to reflect ------------ the payment of any Renewal Term Payment pursuant to Section 21.1 of the Lease and the distribution of such payment to the Participants pursuant to Section ------- 3.13. ---- SECTION 3.6
Allocation of Commitments. On the Effective Date, Administrative Agent will reallocate the outstanding Loans and such that, after giving effect to this Amendment, each Lender will hold its pro rata share of such outstanding Loans. In connection with any such reallocation of the outstanding Loans, (a) Administrative Agent will give advance notice sufficient to comply with the applicable timing period in Section 2.04 of the Amended Credit Agreement to each Lender which is required to fund any amount or receive any partial repayment in connection therewith; and (b) the applicable Lenders will fund such amounts up to their respective shares of the Loans being reallocated and Administrative Agent shall remit to any applicable Lenders its applicable portion of such funded amount if necessary to give effect to the reallocation of such Loans.