Mandatory Termination of Commitments Sample Clauses
The Mandatory Termination of Commitments clause requires that certain obligations or commitments under an agreement are automatically ended upon the occurrence of specified events. Typically, this clause applies to financial agreements where, for example, a lender’s obligation to provide further funding is terminated if the borrower defaults or if a particular date is reached. Its core practical function is to protect parties from ongoing exposure or risk by ensuring that commitments do not continue indefinitely in situations where it would be inappropriate or risky to do so.
Mandatory Termination of Commitments. The Commitments shall terminate on the Termination Date and any Loans then outstanding (together with accrued interest thereon) shall be due and payable on such date.
Mandatory Termination of Commitments. The Commitments shall terminate on the Commitment Termination Date.
Mandatory Termination of Commitments. (a) The Initial Term Loan Commitments shall terminate at 5:00 p.m. (New York City time) on the Closing Date.
(b) The New Term Loan Commitment for any Series shall, unless otherwise provided in the applicable Joinder Agreement, terminate at 5:00 p.m. (New York City time) on the Increased Amount Date for such Series.
Mandatory Termination of Commitments. (a) The Total Commitment shall terminate at 5:00 p.m. (New York City time) on the Termination Date.
(b) The Swingline Commitment shall terminate at 5:00 p.m. (New York City time) on the earlier of (x) the Swingline Maturity Date and (y) the Termination Date.
Mandatory Termination of Commitments. The Total Revolving Credit Commitment shall terminate at 2:00 p.m. (New York time) on the Revolving Credit Maturity Date.
Mandatory Termination of Commitments. The Commitment of each Bank shall terminate on such Bank’s Commitment Termination Date, and any Revolving Credit Loans of such Bank then outstanding (together with accrued interest thereon) shall be due and payable on such date.
Mandatory Termination of Commitments. (a) The Revolving Credit Commitments shall terminate at 5:00 p.m. (New York City time) on the Revolving Credit Maturity Date.
(b) The Swingline Commitment shall terminate at 5:00 p.m. (New York City time) on the Swingline Maturity Date.
(c) The New Term Loan Commitment for any Series shall, unless otherwise provided in the applicable Joinder Agreement, terminate at 5:00 p.m. (New York City time) on the Increased Amount Date for such Series.
Mandatory Termination of Commitments. (a) The Initial Term Loan Commitments terminated at 5:00 p.m. (New York City time) on the Original Closing Date.
(b) The Delayed Draw Term Loan Commitments shall terminate at 5:00 p.m. (New York City time) on the Delayed Draw Term Loan Maturity Date.
(c) The Original Euro Tranche Term Loan Commitments terminated at 5:00 p.m. (New York City time) on the Original Closing Date.
(d) (i) The 2013 Revolving Credit Commitment shall terminate at 5:00 p.m. (New York City time) on the 2013 Revolving Credit Maturity Date, (ii) the 2016 Revolving Credit Commitment shall terminate at 5:00 p.m. (New York City time) on the 2016 Revolving Credit Maturity Date and (iii) the 2020 Revolving Credit Commitment shall terminate at 5:00 p.m. (New York City time) on the 2020 Revolving Credit Maturity Date, in each case of clauses (i), (ii) and (iii), unless earlier terminated by the Borrower pursuant to Section 4.2.
(e) The Swingline Commitment shall terminate at 5:00 p.m. (New York City time) on the Swingline Maturity Date.
(f) The New Term Loan Commitment for any Series shall, unless otherwise provided in the applicable Joinder Agreement, terminate at 5:00 p.m. (New York City time) on the Increased Amount Date for such Series.
Mandatory Termination of Commitments. (a) The Total Initial Term Loan Commitment shall terminate upon the occurrence of the Closing Date.
(b) The Total Revolving Credit Commitment shall terminate at 5:00 p.m. (New York City time) on the Revolving Credit Maturity Date.
(c) The Swingline Commitments shall terminate at 5:00 p.m. (New York City time) on the Swingline Maturity Date.
(d) The Incremental Term Loan Commitment for any Class shall, unless otherwise provided in the documentation governing such Incremental Term Loan Commitment, terminate at 5:00 p.m. (New York City time) on the Incremental Facility Closing Date for such Class.
(e) The Additional/Replacement Revolving Credit Commitment for any Class shall terminate at 5:00 p.m. (New York City time) on the maturity date for such Class specified in the documentation governing such Class.
(f) The Extended Loan/Commitment for any Extension Series shall terminate at 5:00 p.m. (New York City time) on the maturity date for such Class specified in the Extension Agreement.
Mandatory Termination of Commitments. (a) The Total Initial Term Loan Commitment shall terminate on the earlier of (i) 5:00 p.m. (New York City time) on July 10, 2008 and (ii) 5:00 p.m. (New York time) upon the making of the Initial Term Loans on the Closing Date.
(b) The Total Deposit L/C Loan Commitment shall terminate on the earlier of (i) 5:00 p.m. (New York City time) on July 10, 2008 and (ii) 5:00 p.m. (New York time) upon the making of the Deposit L/C Loans on the Closing Date.
(c) The Total Delayed Draw Term Loan Commitment shall terminate at 5:00 p.m. (New York time) on the Delayed Draw Term Loan Commitment Termination Date.
(d) The Total Revolving Credit Commitment shall terminate at 5:00 p.m. (New York time) on the Revolving Credit Maturity Date.
(e) The Swingline Commitment shall terminate at 5:00 p.m. (New York time) on the Swingline Maturity Date.
(f) The Incremental Term Loan Commitment for any tranche shall, unless otherwise provided in the documentation governing such Incremental Term Loan Commitment, terminate at 5:00 p.m. (New York City time) upon the making of the Incremental Term Loans for such tranche on the Incremental Facility Closing Date for such tranche.
(g) The Incremental Deposit L/C Loan Commitment for any tranche shall, unless otherwise provided in the documentation governing such Incremental Deposit L/C Loan Commitment, terminate at 5:00 p.m. (New York City time) upon the making of the Incremental Deposit L/C Loans for such tranche on the Incremental Facility Closing Date for such tranche.