Borrowing Base Usage definition

Borrowing Base Usage means, as of any date and for all purposes, the quotient, expressed as a percentage, of (i) the Aggregate Credit Exposure as of such date, divided by (ii) the Borrowing Base as of such date.

Borrowing Base Usage on any day means the percentage equivalent of the ratio of (i) the sum of the aggregate principal amount of the Loans then outstanding and Letter of Credit Outstandings on such day to (ii) the Borrowing Base in effect on such day.

Borrowing Base Usage means, as of any date and for all purposes, the quotient, expressed as a percentage, of (a) the Aggregate Credit Exposure as of such date, divided by (b) the Borrowing Base as of such date.

Examples of Borrowing Base Usage in a sentence

• The Borrower will pay a fee (the “Commitment Fee”), in an amount computed on a daily basis equal to the Revolving Loan Limit less the Total Outstandings on each day, multiplied by the applicable percentage specified as the “Unused Commitment Fee” in the table set forth under the definition of “Applicable Margin” corresponding to the Borrowing Base Usage as of the end of such day.

• The Borrower will pay a fee (the “Commitment Fee”), in an amount computed on a daily basis equal to the Revolving Loan Limit less the Total Revolving Outstandings on each date, multiplied by the applicable percentage specified as the “Unused Commitment Fee” in the table set forth above under the definition of “Applicable Margin” corresponding to the Borrowing Base Usage as of the end of such day.

• The Conforming Borrowing Base shall be utilized solely for purposes of determining the Conforming Borrowing Base Usage under and for purposes of this Agreement.

• The focus of regulatory oversight for television has been on providing access to RF spectrum for broadcasting networks and on content regulation to ensure adequate programming diversity and to limit objectionable content (censorship).

• From and following the Closing Date, Borrower shall pay Administrative Agent, for the benefit of all Lenders committed to make Revolving Loans, in accordance with their respective Pro Rata Shares, a fee in an amount computed on a daily basis equal to (i) the Revolving Loan Limit less the Revolving Loan Outstandings on each day, multiplied by the applicable percentage specified as the “Commitment Fee” in the Pricing Table corresponding to the Borrowing Base Usage as of the end of such day.

More Definitions of Borrowing Base Usage

Borrowing Base Usage as defined under the definition of Applicable Margin.

Borrowing Base Usage means on any date the percentage, at the close of business on such day, equivalent to the Revolving Loan Outstandings divided by the Borrowing Base.

Borrowing Base Usage means (a) the sum of (i) the outstanding Revolver Loans and all accrued but unpaid interest and fees plus (ii) the L/C Exposure divided by (b) the Borrowing Base then in effect.

Borrowing Base Usage means at any time the quotient, expressed as a percentage, of (a) the aggregate Outstanding Obligations at such time, divided by (b) the Borrowing Base in effect at such time.

Borrowing Base Usage means the quotient, expressed as a percentage, of (x) the quotient calculated pursuant to the foregoing clauses (i) and (ii), divided by (y) the Adjustment Percentage.

Borrowing Base Usage means, as of any date, the percentage of the Borrowing Base then in effect represented by the sum of (i) the aggregate principal amount of all Loans then outstanding under the Agreement, plus (ii) the aggregate face amount of all Facility LCs then outstanding under the Agreement.

Borrowing Base Usage means, as of any date and for all purposes, other than as set forth in the following proviso, the quotient, expressed as a percentage, of (i) the Aggregate Credit Exposure as of such date, divided by (ii) the Borrowing Base; provided that, with respect to the determination of the Applicable Margin prior to the first anniversary of the Effective Date, “Borrowing Base Usage” means the quotient, expressed as a percentage, of (x) the quotient calculated pursuant to the foregoing clauses (i) and (ii), divided by (y) the Adjustment Percentage.