Unused Revolving Credit definition

Unused Revolving Credit means an amount equal to: (i) the Maximum Revolving Credit Amount (i.e., Forty-Two Million Five Hundred Thousand and 00/100 Dollars ($42,500,000.00); minus (ii) the average daily outstanding principal balance of the Revolving Credit for the immediately preceding Quarter.
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Unused Revolving Credit. Commitment shall mean, at any time, an amount equal to the excess, if any, of the Revolving Credit Commitments of all of the Lenders at such time over the Revolving Facility Usage at such time. USA Patriot Act shall mean the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56, as the same has been, or shall hereafter be, renewed, extended, amended or replaced. U.S. Person shall mean any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code. U.S. Tax Compliance Certificate shall have the meaning specified in Section 5.9.7 [Status of Lenders]. Withholding Agent shall mean any Loan Party and the Administrative Agent.
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Unused Revolving Credit. Commitment shall mean, as to a particular Lender, the daily difference of such Lender’s US Revolving Credit Commitment or Canadian Revolving Credit Commitment, as applicable, on such day less the US Revolving Credit Exposure or the Canadian Revolving Credit Exposure, as the case may be, applicable to such Lender on such day. US Administrative Agent shall mean JPMorgan, in its capacity as administrative agent for the US Lenders hereunder and its successors and assigns in such capacity. US Availability shall mean at any time (a) the lesser at such time of (i) the US Total Revolving Credit Commitment (as such amount may be reduced in accordance with the provisions of this Agreement) and (ii) the sum of the US Borrowing Base and the Additional US Availability Credit at such time, less (b) the sum of (i) the aggregate amount of each US Lender’s Revolving Credit Exposure at such time, (ii) the aggregate amount of accrued and unpaid interest outstanding under the US Revolving Loans at such time, (iii) all other outstanding US Obligations which are due and payable at such time, including without limitation, Commitment Fees, fees related to any US Letters of Credit, and legal fees and other amounts payable under Section 10.9 hereof, and (iv) all Reserves against US Availability established by the Administrative Agent from time to time in its Permitted Discretion. US Base Rate (Canada) shall mean, for any day, a rate per annum equal to the greater of (a) the annual rate of interest announced by JPMorgan Canada and in effect as its base rate at its principal office in Toronto, Ontario on such day for determining interest rates on Dollar-denominated commercial loans made in Canada, and (b) the Federal Funds Effective Rate in effect on such day plus 1/ 2 of 1%. Any change in the US Base Rate (Canada) due to a change in the rate referred to in clause (a) above or the Federal Funds Effective Rate shall be effective from and including the effective date of such change in the rate referred to in clause (a) above or the Federal Funds Effective Rate, respectively. US Base Rate (Canada) Loans shall mean Canadian Revolving Loans which are denominated in Dollars and which bear interest at a rate based upon the Adjusted US Base Rate (Canada). US Borrower shall have the meaning specified in the preamble of this Agreement. US Borrowing Base shall mean, as of any date, the amount of the then most recent computation of the US Borrowing Base, determined by calculating the amount equa...
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Examples of Unused Revolving Credit in a sentence

  • The Borrower shall have the right, upon at least three Business Days' notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Revolving Credit Commitments, provided that each partial reduction (i) shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (ii) shall be made ratably among the Lenders in accordance with their Revolving Credit Commitments.

  • The payment by an Issuing Bank of a draft drawn under any Letter of Credit which is not reimbursed by the Borrower on the date funded shall constitute for all purposes of this Agreement the making by any such Issuing Bank of a Revolving Loan under the Revolving Credit Facility which shall be a Base Rate Revolving Loan, in the amount of such draft, without regard to whether the making of such a Revolving Loan would exceed such Issuing Bank’s Unused Revolving Credit Commitment.

  • Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Credit Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date in an amount not to exceed at any time such Lender's Unused Revolving Credit Commitment.

  • Each Swing Line Bank severally agrees, on the terms and conditions hereinafter set forth, to make Swing Line Advances to the Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date (i) in an aggregate amount not to exceed at any time outstanding $30,000,000 (the "Swing Line Facility") and (ii) in an amount for each such Advance not to exceed the aggregate Unused Revolving Credit Commitments of the Lenders at such time.

  • For purposes of this Section 8.05(a), the Lenders' respective pro rata shares of any amount shall be determined, at any time, according to the sum of (i) the aggregate principal amount of the Revolving Credit Advances outstanding at such time and owing to the respective Lenders, (ii) their respective pro rata Shares of the aggregate Available Amount of all Letters of Credit outstanding at such time and (iii) their respective Unused Revolving Credit Commitments at such time.

  • The Borrowers shall pay to the Bank a commitment fee (the "Commitment Fee") on the daily average amount of the Unused Revolving Credit Commitment for the period from the Closing Date to and including the Revolving Credit Maturity Date, at the rate of one-quarter of one percent ( ¼%) per annum on the Unused Revolving Credit Commitment.

  • Created by God, man has innate value before his Creator, and a value for himself by virtue of being man.

  • The Borrower shall pay to the Administrative Agent for the rateable account of the Lenders in accordance with their Revolver Percentages a commitment fee of [Redacted for Confidentiality] per annum (computed, notwithstanding any provision to the contrary in this Agreement (including the use of the term "per annum"), on the basis of a year of 365 days or 366 days, as applicable, and actual days elapsed) on the average daily Unused Revolving Credit Commitments.

  • The Borrower shall pay to the Administrative Agent for the rateable account of the Lenders in accordance with their Revolver Percentages a commitment fee of 0.25% per annum (computed, notwithstanding any provision to the contrary in this Agreement (including the use of the term "per annum"), on the basis of a year of 365 days or 366 days, as applicable, and actual days elapsed) on the average daily Unused Revolving Credit Commitments.

  • Within the limits of each Revolving Credit Lender’s Unused Revolving Credit Commitment in effect from time to time, the Borrower may borrow under this Section 2.01(b), prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(b).

Related to Unused Revolving Credit

  • Unused Revolving Credit Commitment means, with respect to any Lender at any date of determination, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving Credit Advances, Swing Line Advances and Letter of Credit Advances made by such Lender (in its capacity as a Lender) and outstanding at such time plus (ii) such Lender’s Pro Rata Share of (A) the aggregate Available Amount of all Letters of Credit outstanding at such time, (B) the aggregate principal amount of all Letter of Credit Advances made by the Issuing Banks pursuant to Section 2.03(c) and outstanding at such time and (C) the aggregate principal amount of all Swing Line Advances made by the Swing Line Bank pursuant to Section 2.01(c) and outstanding at such time.

  • Unused Revolving Credit Commitments means, at any time, the difference between the Revolving Credit Commitments then in effect and the aggregate outstanding principal amount of Revolving Loans and L/C Obligations.

  • Unused Revolving Commitment means, for any Lender at any time, the excess of (i) such Lender’s Revolving Commitment at such time over (ii) such Lender’s Revolving Facility Exposure at such time.

  • Unused Revolving Line Facility Fee is defined in Section 2.4(c). [Signature page follows.]

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the date hereof is $250,000,000.

  • Total Revolving Credit Commitment means, at any time, the aggregate amount of the Revolving Credit Commitments, as in effect at such time. The initial Total Revolving Credit Commitment is $90,000,000.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Available Revolving Credit Commitment with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding.

  • Adjusted Total Revolving Credit Commitment means at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders.

  • Total Revolving Credit Commitments at any time, the aggregate amount of the Revolving Credit Commitments then in effect.

  • Aggregate Revolving Credit Commitments means the Revolving Credit Commitments of all the Lenders.

  • Revolving Credit Commitment Percentage means, as to any Revolving Credit Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Revolving Credit Lender to (b) the Revolving Credit Commitment of all the Revolving Credit Lenders.

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • U.S. Revolving Credit Commitment shall have the meaning assigned to such term in Section 2.1(c).

  • Revolving Credit Commitment Period the period from and including the Closing Date to the Revolving Credit Termination Date.

  • Applicable Revolving Credit Percentage means with respect to any Revolving Credit Lender at any time, such Revolving Credit Lender’s Applicable Percentage in respect of the Revolving Credit Facility at such time.

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.7.

  • Total Revolving Credit Exposure means, at any time, the sum of the outstanding principal amount of all Lenders’ Revolving Loans, their LC Exposure and their Swingline Exposure at such time; provided, that clause (a) of the definition of Swingline Exposure shall only be applicable to the extent Lenders shall have funded their respective participations in the outstanding Swingline Loans.

  • Existing Revolving Credit Commitments shall have the meaning provided in Section 2.15(a)(ii).

  • Revolving Credit Period means the period from and including the Effective Date to but excluding the Termination Date.

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).