Average Unused Commitment definition

Average Unused Commitment for any period of time means the daily average difference between the Revolving Credit Maximum Amount and the principal amount of Revolving Loans actually outstanding hereunder during such period.

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Average Unused Commitment. With respect to any Lender, (a) such Lender's ------------------------- Commitment, minus (b) the sum of (i) the average daily balance of such Lender's ----- Pro Rata Share of the Revolving Facility Usage for the immediately preceding three-month period plus (ii) the average daily balance of such Lender's Pro Rata ---- Share of the L/C Usage for the immediately preceding three-month period. "Average Unused Commitments" means, collectively, the aggregate amount of the -------------------------- Average Unused Commitments of all of the Lenders.

Average Unused Commitment. With respect to any Lender, (a) such Lender's ------------------------- Commitment, minus (b) the sum of (i) the average daily balance of such Lender's ----- Pro Rata Share of the Revolving Facility Usage for the immediately preceding three-month period, plus (ii) the average daily balance of such Lender's Pro ---- Rata Share of the L/C Usage for the immediately preceding three-month period, plus (iii) with respect to the Swing Line Lender, the average daily balance of ---- the Swing Line Facility Usage for the immediately preceding three-month period. "Average Unused Commitments" means, collectively, the aggregate amount of the -------------------------- Average Unused Commitments of all of the Lenders.

Examples of Average Unused Commitment in a sentence

See (S)20.1. ------------------------- Average Unused Commitment.
On the first Business Day of each calendar quarter and on the Maturity Date, Tripwire shall pay the Administrative Agent (for distribution to the Lenders in accordance with their Applicable Percentages) a fee equal to the Average Unused Commitment Amount for the immediately preceding calendar quarter (or portion thereof) multiplied by the Applicable Margin per annum (pro rated to take into account the fact that this fee is paid quarterly by Tripwire).
In addition to the interest described above, the Borrower shall pay to the Agent on the last Business Day of each month commencing on February 28, 1997, a commitment fee equal to .50% of the Average Unused Commitment during the preceding month, such commitment fee to be payable monthly in arrears.
The Borrower shall pay to the Lender a commitment fee, payable quarterly in arrears on the last Business Day of each fiscal quarter (or portion thereof) of the Borrower, equal to one-half of one percent (0.50%) per annum of the Average Unused Commitment during such quarter.

More Definitions of Average Unused Commitment

Average Unused Commitment for any period of time means the daily average difference between the Revolving Credit Maximum Amount applicable to such period and the sum of the principal amount of the Revolving Loans (including the Stated Amount of, and all unreimbursed draws under, all Letters of Credit) actually outstanding hereunder.

Average Unused Commitment means, for each period, the average daily difference between (a) the aggregate outstanding principal amount of the Loans PLUS the aggregate effective face amount of all Letters of Credit, and (b) $100,000,000 or such lesser amount to which the Domestic Commitment has been reduced in accordance with Section 2.3.

Average Unused Commitment for any period of time shall mean the daily average difference between the aggregate amount of the Revolving Loan Commitments and the Total Utilization of Revolving Loan Commitments during such period.