Common use of Initial Commitments Clause in Contracts

Initial Commitments. Upon the execution of this Agreement and satisfaction of each condition precedent set forth in Section 2.2 hereof (on or before October 31, 1996), the Line of Credit Commitment established hereunder will be $20 million ("Line of Credit Commitment"). Upon the execution of this Agreement and satisfaction of each condition precedent set forth in Section 2.2 hereof (on or before October 31, 1996), the Term Loan Commitment established hereunder will be determined in accordance with the following schedule ("Term Loan Commitment"): Gross Proceeds Term Loan of CCISG IPO Commitment ------------ ---------- LESS THAN $50 million $0.00 GREATER THAN OR EQUAL TO $50 million but LESS THAN $70 million Up to $15 million (at Borrowers' election) GREATER THAN OR EQUAL TO $70 million $0.00 -