Facility Utilization definition

Facility Utilization at any date, the amount (expressed as a percentage) equal to (a) the aggregate amount of Total Revolving Extensions of Credit divided by (b) the Total Revolving Commitments.

Facility Utilization the outstanding principal balance of the Revolving Credit Loans and Swing Line Loans plus the L/C Amount.

Facility Utilization means, for any day, an amount (expressed as a percentage) equal to the quotient of (a) the aggregate principal amount of Tax-Exempt Revolving Loans outstanding as of such day divided by (b) the Available Commitment (without regard to any Tax-Exempt Revolving Loans outstanding) as of such day.

Examples of Facility Utilization in a sentence

• Credit Facility Utilization - actual provision by the Lender to the Borrower of monetary funds within the Credit Facility Utilization Period in accordance herewith and on terms and conditions provided for herein.

• Credit Facility Utilization Period - period during which the Borrower shall be entitled to use the Credit Facility line in accordance with clause 6.3 hereof.

• A Borrower to which a Revolving Facility Utilization has been made may, if it or the Loan Parties’ Agent gives the Administrative Agent not less than three Business Days’ (or such shorter period as the Supermajority Lenders may agree) prior notice, prepay the whole or any part of a Revolving Facility Utilization (but if in part, being an amount that reduces the Base Currency Amount of the Revolving Facility Utilization by a minimum amount of €1,000,000).

• A Borrower (or the Loan Parties’ Agent on its behalf) shall select the currency of a Revolving Facility Utilization in a Utilization Request.

• If all or part of Utilization under the Revolving Facility is repaid or prepaid and is not available for redrawing (other than by operation of Section 2.27 (Further Conditions Precedent)), an amount of the Revolving Facility Commitments (equal to the Base Currency Amount of the amount of the Revolving Facility Utilization which is repaid or prepaid) in respect of that the Revolving Facility will be deemed to be cancelled on the date of repayment or prepayment.

More Definitions of Facility Utilization

Facility Utilization means, for any calendar month, a fraction (expressed as a percentage) (a) the numerator of which is the daily weighted average outstanding Capital during such calendar month and (b) the denominator of which is the Purchase Limit at the beginning of such calendar month);

Facility Utilization means, for any day, the utilization of the combined Commitments for such day (or if such day is not a Business Day the immediately preceding Business Day) as calculated by the Agent after giving effect to any Borrowings which occur on such date. For purposes hereof, the combined Commitments shall be deemed utilized on any given day to the extent of the aggregate outstanding principal amount of the Committed Loans on such day.

Facility Utilization means, for any day, the utilization of the Commitments for such day (or if such day is not a Business Day the immediately preceding Business Day) as calculated by the Agent after giving effect to any Loans or Advances made or repaid on such date. For purposes hereof, the Commitments shall be deemed utilized on any given day to the extent of the aggregate outstanding principal amount of the Loans and the Matured Value of all outstanding Advances on such day.

Facility Utilization means a percentage determined by dividing (i) the sum of (a) the aggregate outstanding principal amount of Notes then held by the Note Purchasers, (b) the aggregate face amount of outstanding Letters of Credit issued by the Issuing Lenders and (c) the aggregate outstanding principal amount of Notes held by Independent Investors by (ii) the Collateral Value of Eligible Inventory as shown on the most recently delivered Sales and Valuation Report.

Facility Utilization means the ratio of Total Utilization to Total Commitment, expressed as a percentage.

Facility Utilization means, on any date, the ratio, expressed as a percentage, of (a) the sum of (i) 100% of the outstanding principal balance of all Loans on such date plus (ii) 100% of the outstanding undrawn amount of all financial letters of credit on such date plus (iii) 66-2/3% of the outstanding undrawn amount of all non-financial letters of credit on such date, up to $75,000,000, plus (iv) 100% of the outstanding undrawn amount of all non-financial letters of credit on such date in excess of $75,000,000, to (b) the Commitments on such date.

Facility Utilization means at any time the Effective Amount of Revolving Loans plus the Effective Amount of L/C Obligations as a percentage of the combined Commitments of the Banks, rounded to the nearest whole percentage point.