Defaulted Commitment definition

Defaulted Commitment shall have the meaning set forth in Section 5.3(a).
View Source
Defaulted Commitment means any Purchase Commitment under which any of the following events have occurred and remain uncured with respect to the Approved Investor committed under such Purchase Commitment:
View Source
Defaulted Commitment has the meaning set forth in Section 3.4(a).
View Source

Examples of Defaulted Commitment in a sentence

  • If a non-defaulting Member elects not to assume the entire portion of the Defaulted Commitment offered to it, such unassumed Defaulted Commitment shall be reoffered pro rata to the non-defaulting Members who have elected to assume the entire portion of the Defaulted Commitment offered to them until either all of such Defaulted Commitment is assumed or no non-defaulting Member wishes to make a further assumption of the Defaulted Commitment.

  • At the closing of such offer (on a date and at a place designated by the Company), each assuming Member shall make a Capital Contribution in an amount equal to that portion of the Defaulted Commitment assumed by it in accordance with the provisions of this subparagraph which is then due or past due.

  • If the entire Defaulted Commitment is not assumed pursuant to the preceding provisions, the Company may offer to any other Person for assumption any remaining portion of the Defaulted Commitment, subject to the restrictions on transfer contained in Section 11.2 (in which case such third party or parties shall become a party to this Agreement).

  • In the event that holders of a majority of the outstanding Shares of the Company vote to suspend the investment period of the Company at such special meeting, any Unused Capital Commitment (other than any Defaulted Commitment) shall automatically be reduced to zero, except to the extent necessary to pay amounts due under Funding Notices the Company may thereafter issue as provided in Section 2.01(f).

  • Such Defaulting Member's Common Share Commitment shall be reduced by the aggregate amount of Defaulted Commitment assumed by the non-defaulting Members and such other Persons and for which payments have been actually received by the Company.

  • In addition to the foregoing, the Company may in its discretion institute a lawsuit against the Defaulting Purchaser for specific performance of its obligation to pay any Defaulted Commitment and any other payments to be made by the Defaulting Purchaser pursuant to this Agreement and to collect any overdue amounts hereunder.

  • In the event a Defaulting Purchaser elects to Cure its Default, such Defaulting Purchaser shall pay to the Company within the 10-day Cure period a premium equal to 25% of the Defaulted Commitment due in respect of such Shares (the "Premium").

  • This amount shall be in addition to the Defaulted Commitment and the Liquidated Damages provided for below.

  • Immediately upon the occurrence of a Default, the Defaulting Purchaser shall pay to the Company a sum equal to 50% of the Defaulted Commitment as liquidated damages (the "Liquidated Damages").

  • Any advance made by a non-defaulting Member (“Advancing Member”) shall constitute a loan (“Default Loan”) from the Advancing Member to the Defaulting Member, the proceeds of which shall be used to pay the amount of the Defaulted Commitment.


More Definitions of Defaulted Commitment

Defaulted Commitment shall have the meaning set forth in Section 5.3(a). M&M Capital Professionals Fund, L.P. Second Amended and Restated L.P. Agreement
View Source
Defaulted Commitment shall have the meaning assigned to such term in Section 7.1(d)(v).
View Source

Related to Defaulted Commitment

  • Unused Commitment means, with respect to each Lender at any time, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving Advances made by such Lender (in its capacity as a Lender) and outstanding at such time and (ii) such Lender’s Ratable Share of the aggregate L/C Obligations and, other than for the purposes of calculation of the commitment fees, such Lender’s Ratable Share of the aggregate Swingline Exposure outstanding at such time.

  • Extended Commitment as defined in Section 2.26(a).

  • Unused Commitment Fee has the meaning specified in Section 2.12(a) (Fees).

  • Unused Commitments means an amount equal to all unadvanced funds (other than unadvanced funds in connection with any construction loan) which any third party is obligated to advance to Borrower or another Person or otherwise pursuant to any loan document, written instrument or otherwise.

  • Available Unused Commitment means, with respect to a Revolving Facility Lender under any Class of Revolving Facility Commitments at any time, an amount equal to the amount by which (a) the applicable Revolving Facility Commitment of such Revolving Facility Lender at such time exceeds (b) the applicable Revolving Facility Credit Exposure of such Revolving Facility Lender at such time.