Operating Commitment definition

Operating Commitment means the maximum amount of credit available to the Borrower under the Operating Credit Facility, being Cdn. $20,000,000 as of the date hereof.
View Source
Operating Commitment has the meaning given in Section 2.1(b).
View Source
Operating Commitment has the meaning specified in the definition of "Commitment".
View Source

Examples of Operating Commitment in a sentence

  • Drafts identified in any one Acceptance Request shall be related to the same transaction, shall have the same maturity date and be shall be scheduled for presentment to each Lender in the same proportion that such Lenders' Operating Commitment bears to the aggregate Operating Commitment for all Lenders.

  • No prepayment of an Operating Facility shall reduce the Operating Commitment related thereto unless the relevant Borrower has also requested a reduction of such Operating Commitment.

  • The Lender agrees, on the terms and conditions of this Agreement, to make Accommodations to the Borrower in accordance with the Operating Commitment and the Foreign Exchange Commitment.

  • If a Lender has declined to extend its Canadian Operating Commitment, it shall also be deemed to have declined to extend its Canadian Swingline Commitment, if any.

  • The Available Operating Commitment shall cease to be available to the Borrower at the expiration of the Operating Period.


More Definitions of Operating Commitment

Operating Commitment means the Operating Lender’s obligation hereunder to make Operating Loans to the Borrower pursuant to Section 2.1(c), in an aggregate principal amount at any one time outstanding not to exceed the amount set forth and opposite such Operating Lender’s name on Schedule A under the caption “Operating Commitment”, or in any Assignment and Assumption, as such amount may hereafter be increased, decreased, cancelled or terminated from time to time pursuant to this Agreement.
View Source
Operating Commitment means, at any time, in respect of the Operating Facility, up to U.S. $5,000,000, as reduced pursuant to Article 2.
View Source
Operating Commitment of any Lender means the maximum portion of the Operating Facility which such Lender has agreed to make available to the Borrower as set out opposite its name under “Operating Commitment” in Schedule C, or as set forth in any Loan Assignment Agreement, as such amount may be modified from time to time pursuant to the provisions of this Agreement;
View Source
Operating Commitment means U.S.$15,000,000, subject to any reduction under any provision of this Agreement;
View Source
Operating Commitment means, at any time, in respect of the Operating Facility, (i) for the period beginning on the Restatement Date and ending on the first anniversary of the Restatement Date (the "FIRST ANNIVERSARY"), up to U.S. $7,000,000;(ii) for the period beginning on the first day following the First Anniversary and ending on the second anniversary of the Restatement Date (the "SECOND ANNIVERSARY"), up to U.S.$6,000,000; (iii) for the period beginning on the first day following the Second Anniversary and ending on the Repayment Date, up to U.S.$5,000,000; in each case, as reduced pursuant to Article 2;
View Source
Operating Commitment means the Operating Lender’s obligation hereunder to make Operating Loans to the Borrower pursuant to Section 2.1(c), in an aggregate principal amount at any one time outstanding not to exceed the amount set forth and opposite such Operating Lender’s name on Schedule A under the caption “Operating Facility”, or in any Assignment and Assumption, as such amount may hereafter be increased, decreased, cancelled or terminated from time to time pursuant to this Agreement.
View Source
Operating Commitment means, with respect to the Operating Lender, the amount specified at Closing in Schedule G and thereafter in the Register as the Operating Lender’s commitment under the Operating Facility, as the same may be revised, adjusted or reduced from time to time pursuant to the terms of this Agreement, which as at Closing is equal to the Authorized Operating Amount.
View Source