Minimum Utilization Amount means, for any day, an amount equal to 50% of the aggregate commitments of the Lenders as of the close of business on such day.
Minimum Utilization Amount means, for any day, an amount equal to 35% of the aggregate Commitments of the Lenders as of the close of business on such day.
Minimum Utilization Amount means, with respect to any Lender for any day, an amount equal to forty percent (40%) of the Commitment of such Lender as of the close of business on such day.
Examples of Minimum Utilization Amount in a sentence
The Borrower shall pay to the Administrative Agent, for the account of each Lender in accordance with its Applicable Percentage, a commitment fee (the “Commitment Fee”) which shall be equal to the sum of the products in the applicable Accrual Period of (i) one divided by 360, (ii) 0.50% and (iii) the positive difference, if any, of (A) the Aggregate Commitments then in effect minus (B) the greater of (1) the Total Outstandings on such day and (2) the Minimum Utilization Amount.
More Definitions of Minimum Utilization Amount
Minimum Utilization Amount means, with respect to any Lender, an amount equal to forty percent (40%) of the Commitment of such Lender as of the close of business on such day.
Minimum Utilization Amount means, with respect to any Lender for (x) any day during the 2022 Convertible Notes Refinancing Distribution Period, an amount equal to zero percent (0%) of the Commitment of such Lender as of the close of business on such day and (y) any day other than a day set forth in the foregoing clause (x), an amount equal to forty percent (40%) of the Commitment of such Lender as of the close of business on such day.
Minimum Utilization Amount shall have the meaning set forth on Schedule 4.
Minimum Utilization Amount means on any date an amount equal to (x) the Adjusted Maximum Facility Amount times (y) the “Target Utilization Percentage” for such date set out below Minimum Utilization Payment Table Period Target Utilization Percentage From (but excluding) To (and including) Initial Credit Date Two month anniversary of the Initial Credit Date 0.0% Two month anniversary of the Initial Credit Date Three month anniversary of the Initial Credit Date 25.0% Three month anniversary of the Initial Credit Date Six month anniversary of the Initial Credit Date 50.0% Six month anniversary of the Initial Credit Date Nine month anniversary of the Initial Credit Date 65.0% Nine month anniversary of the Initial Credit Date The calendar day immediately preceding the First Amendment Date 85.0% The calendar day immediately preceding the First Amendment Date Three month anniversary of the First Amendment Date 50.0% Three month anniversary of the First Amendment Date Six month anniversary of the First Amendment Date 60.0% Six month anniversary of the First Amendment Date Nine month anniversary of the First Amendment Date 70.0% Nine month anniversary of the First Amendment Date Twelve month anniversary of the First Amendment Date 75.0% Twelve month anniversary of the First Amendment Date Last day of the Availability Period 82.5% For the avoidance of doubt, the Target Utilization Percentage is zero during the Amortization Period.
Minimum Utilization Amount has the meaning set forth in the Additional Loan Terms and Covenants Addendum attached hereto as Exhibit A.
Minimum Utilization Amount means 40% of the Facility Limit.