Maximum Total Commitment definition
Examples of Maximum Total Commitment in a sentence
After any reduction of the aggregate Revolving Commitments under this Section 2.09 the Borrower shall not be permitted to request any increase to the Maximum Total Commitment under Section 2.22.
On 28 October 2008, KPL and SA entered into the Supplemental Agreement pursuant to which KPL and SA agreed that the Maximum Total Commitment shall be increased from US$700,000,000 to RMB7,600,000,000.
The principal terms of the Supplemental Agreement are as follows:- Unless otherwise agreed by KPL and SA, the Maximum Total Commitment shall be increased from US$700,000,000 to RMB7,600,000,000.
To such Borrower’s knowledge, no Default or Event of Default has occurred and is continuing or would result from the increase in the Maximum Total Commitment.
Effective as of the Seventh Amendment Effective Date (as defined below), the Maximum Revolving Commitment and Maximum Total Commitment shall be reduced to $747,786,980.31 and each Lender’s Revolving Commitment will be reduced to the amount set forth on Schedule 2.01 to the Credit Agreement (as amended hereby).
The Additional Funding Commitment represents the difference between the New Maximum Total Commitment of RMB7,600,000,000 and the Old Maximum Total Commitment of US$700,000,000 (equivalent to RMB5,787,600,000 based on the exchange rate of approximately US$1 = RMB8.268 as at the date of the Master Agreement) as expressed in RMB.
As the New Maximum Total Commitment exceeds the Old Maximum Total Commitment approved by the KPL Independent Shareholders at the special general meeting of KPL held on 25 June 2004 and the proportionate Additional Funding Commitment of KPL exceeds 2.5% of the total assets and market capitalization of KPL, the Transactions are subject to the approval of the KPL Independent Shareholders.
On the basis of the Old Maximum Total Commitment of US$700,000,000 and the then proportions of equity interest in the Joint Venture Companies (KPL/SA/Party A: 50.5%/48.5%/1%), the maximum commitment by each of KPL, SA and Party A in respect of the Project should be US$353,500,000, US$339,500,000 and US$7,000,000, respectively.
Maximum Total Commitment: the sum of the Maximum RLOC Commitment and the Maximum Term Loan Commitment ($28,664,000.00).
Each Bank’s Commitment Percentage of the Loan shall be evidenced by a single Note payable to the order of such Bank in an amount equal to such Bank’s Commitment Percentage of the Maximum Total Commitment Amount.