Average Usage definition

Average Usage means, on the applicable Adjustment Date, the quotient, expressed as a percentage, obtained by dividing (a) the average daily Outstanding Amount of the Total Revolving Credit Exposure for the Fiscal Quarter immediately preceding such Adjustment Date by (b) the average daily Aggregate Commitments (other than Commitments of Defaulting Lenders) for such Fiscal Quarter.

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Average Usage means the average utilization of Revolving Commitments during the immediately preceding fiscal quarter.

Average Usage means, as of any date of determination, the average daily balance of all Credit Extensions (excluding Swing Line Loans and FILO Loans) in the immediately preceding Fiscal Quarter.

Examples of Average Usage in a sentence

• For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards Average Usage for purposes of determining the commitment fee.

• Under no circumstances can the Average Usage Benefit exceed Four Hundred Twenty-Five Dollars ($425.00) per Valid Claim.

• Members Accounts shall be entitled to a Benefit equal to the greater of Ten Dollars ($10.00) or 65% of the Calculated Amount (“Above Average Usage Benefit”).

• Under no circumstances can the Above Average Usage Benefit exceed Five Hundred Dollars ($500.00) per Valid Claim.

• Should Tenant in any month use in excess of one hundred and ten percent (110%) of the average electricity, water or other centrally metered utility used per square foot by all tenants in the Building or Project (“Average Usage”), all gallons of water used above Average Usage shall be considered in excess of normal water and sewer usage and Tenant shall pay Landlord for all such excess usage for both sewer and water on a monthly basis, within thirty (30) days after receipt of an invoice from Landlord.

More Definitions of Average Usage

Average Usage means, at any Adjustment Date, the average utilization of Revolving Commitments (expressed as a percentage) for the fiscal quarter immediately preceding such Adjustment Date.

Average Usage the average utilization of Revolver Commitments during the immediately preceding Fiscal Quarter.

Average Usage means, at any Adjustment Date, the average daily aggregate Revolving Exposure for the applicable Subfacility (excluding any Revolving Exposure resulting from any outstanding Swingline Loans) for the fiscal quarter period immediately preceding such Adjustment Date divided by the Revolving Commitments in respect of such Subfacility at such time.

Average Usage or any other ratio used in the calculation of the Applicable Rate, or in the calculation of any other interest or fee due hereunder (except as otherwise contemplated in this Agreement) shall constitute a reduction in any rate of interest or fee hereunder;

Average Usage means, at any date, the average daily utilization of the Revolving Credit Commitment during the Monthly Reporting Period immediately preceding such date.

Average Usage means, as of any Adjustment Date, the quotient, expressed as a percentage, obtained by dividing (a) the average daily Aggregate Exposure (excluding in respect of any Swingline Loans outstanding during such calendar quarter) during the calendar quarter immediately preceding such Adjustment Date by (b) the average daily Aggregate Commitments (other than the Commitments of any Defaulting Lender) for such calendar quarter.

Average Usage means the average daily utilization of Revolving Commitments.