Facility Usage definition

Facility Usage means, at the time in question, the aggregate amount of outstanding Loans and LC Obligations at such time.

Facility Usage means, at the time in question, the aggregate amount of outstanding Loans and existing LC Obligations at such time.

Facility Usage means, at the time in question, the aggregate outstanding principal amount of all Loans of all Lenders plus all Letter of Credit Outstandings of all Issuers.

Examples of Facility Usage in a sentence

• Any such reduction or termination shall be accompanied by prepayment of the Notes, together with outstanding Commitment Fees, and the full amount of interest accrued on the principal sum to be prepaid (and all amounts referred to in Section 5.10 [Indemnity] hereof) to the extent necessary to cause the aggregate Revolving Facility Usage after giving effect to such prepayments to be equal to or less than the Revolving Credit Commitments as so reduced or terminated.

• Revolving Credit Facility Usage as outstanding immediately prior to the effectiveness of this Amendment (the “Existing Usage”) shall remain outstanding after giving effect to this Amendment.

• All or any part of such Defaulting Lender’s participation in Letter of Credit Obligations and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Ratable Shares (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that such reallocation does not cause the aggregate Revolving Facility Usage of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Revolving Credit Commitment.

• If on any Computation Date the Revolving Facility Usage is equal to or greater than the Revolving Credit Commitments as a result of a change in exchange rates between one (1) or more Optional Currencies and Dollars, then the Administrative Agent shall notify the Borrower of the same.

• As of the Closing Date, Revolving Credit Facility Usage is $60,181,000 which amount consists of (i) $49,000,000 of outstanding Advances under the Revolving Facility, (ii) issued and outstanding Letters of Credit with an Aggregate Effective Amount of $11,181,000.00 and (iii) no outstanding Swing Line Loans.

More Definitions of Facility Usage

Facility Usage means, at the time in question, the aggregate principal amount of outstanding Loans at such time.

Facility Usage means, at any time, without duplication, the sum of (a) the amount of Advances outstanding at such time and (b) the aggregate Available Amount of outstanding Letters of Credit.

Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

Facility Usage means, as of any day, the quotient, expressed as a percentage, of (a) Total Credit Exposure on such day divided by (b) the Borrowing Base in effect on such day.

Facility Usage means, at any time, an amount equal to the sum of (i) the aggregate principal amount of all Syndicated Advances denominated in Dollars and the Dollar Amount of all Syndicated Advances denominated in Agreed Currencies other than Dollars outstanding at such time, (ii) the aggregate principal amount of all Competitive Bid Advances denominated in Dollars and the Dollar Amount of all Competitive Bid Advances denominated in Agreed Currencies other than Dollars outstanding at such time and (iii) the aggregate amount of all L/C Obligations outstanding at such time.

Facility Usage means the percentage of the Revolving Credit Facility in use as measured by the (a) the sum of (i) the Outstanding Amount of Revolving Credit Loans, (ii) the Outstanding Amount of L/C Obligations, and (iii) the Outstanding Amount of Swing Line Loans, over (b) the Revolving Credit Facility.

Facility Usage as of any date of determination, the sum of (a) the aggregate principal amount of all Revolver Loans and FILO Loans plus (b) the aggregate amount of all LC Obligations described in clauses (a) and (b) of the definition thereof, in each case, outstanding on such date.