Percentage Outstanding definition

Percentage Outstanding means, for any fiscal quarter (or lesser time period as applicable), the fraction (expressed as a percentage) obtained by dividing (x) the average unpaid and outstanding aggregate principal balance of the Advances under the Notes plus the undisbursed amount of all standby letters of credit during such quarter, by (y) the average of the Commitment Limit for such quarter.
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Percentage Outstanding means, for any fiscal quarter, the fraction obtained by dividing (x) the sum of the average unpaid and outstanding principal balance of the Notes plus the aggregate undisbursed amount of all standby letters of credit during such quarter, by (y) the average of the Commitment Limit for such quarter.
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Examples of Percentage Outstanding in a sentence

  • At all times when the Percentage Outstanding exceeds seventy-five (75%), the Borrower shall enter into and maintain in effect a hedging program (the “Hedging Program”) consisting of Permitted Hedge Agreements that are mutually satisfactory to the Agent, the Required Banks and the Borrower.

  • The Borrower, the Agent and the Banks acknowledge that certain provisions of the Prior Loan Agreement shall remain pertinent for a time after the effectiveness of this Agreement, such as the Percentage Outstanding under the Prior Loan Agreement being used for the determinations of the initial Applicable LIBO Rate Margin, the fee payable under Subsection 2.5(a) to the Banks, and pertaining to letters of credit issued under the Prior Loan Agreement which remain outstanding on and after the Closing Date.

  • In particular, the provisions in the definition of LIBO Rate pertaining to the Percentage Outstanding and the Applicable Libo Rate Margin shall continue to apply to, and shall be calculated with reference to, the portion of the Loan excluding the Excess Portion.

  • At all times when the Percentage Outstanding exceeds seventy-five (75%), the Borrower shall enter into and maintain in effect a hedging program (the "Hedging Program") consisting of Permitted Hedge Agreements that are mutually satisfactory to the Agent, the Required Banks and the Borrower.

  • The Borrower, the Agent and the Banks acknowledge that certain provisions of the Prior Credit Agreement shall remain pertinent for a time after the effectiveness of this Agreement, such as the Percentage Outstanding under the Prior Credit Agreement being used for the determinations of the initial Applicable LIBO Rate Margin and Applicable Prime Rate Margin, and pertaining to letters of credit issued under the Prior Credit Agreement which remain outstanding on and after the Closing Date.

  • At all times when the Percentage Outstanding exceeds seventy-five (75%), the Borrower shall enter into and maintain in effect a hedging program (the "Hedging Program") consisting of Permitted Hedge Agreements that are mutually satisfactory to the Lender and the Borrower.

  • The Borrower specifically acknowledges that the foregoing interest rates shall apply to the Excess Outstanding, notwithstanding the definitions of Base Rate, LIBO Rate, and Percentage Outstanding, or any other provision in this Agreement.

  • Lender Initial Term Loan Commitment Initial Term Loan Commitment Percentage First Amendment Term Loan Commitment First Amendment Term Loan Commitment Percentage Outstanding Term Loan1 Pro Rata Share Granite Creek FlexCap III, L.P. $11,500,000 100% $5,000,000 100% $16,500,000 100% 1 As of the First Amendment Effective Date immediately after giving effect to the funding of the First Amendment Term Loan.