Unavailable Commitment definition

Unavailable Commitment means (a) prior to June 30, 2001, $50,000,000 (as such amount may be reduced from time to time as a result of the reallocation of any portion of the Unavailable Commitment to the Revolver B Commitment in accordance with the terms of Section 2.18 hereof), and (b) on and after June 30, 2001, $0.00.

Unavailable Commitment has the meaning set forth in Section 2.7(a).

Unavailable Commitment means, at any time and in respect of any Credit Facility and any Financing Party, the aggregate Commitment of such Financing Party under such Credit Facility that is not available at such time as a result solely of the fact that the Term Conversion Date or the Initial Delivery Date has not theretofore occurred.

Examples of Unavailable Commitment in a sentence

• Each Unavailable Commitment shall automatically be restored at the end of the applicable calendar quarter, subject to Borrower's continuing rights to make temporarily reductions, or to terminate or permanently reduce unused portions of the Revolving Commitments, hereunder in accordance with the applicable provisions of this Section 2.7. For purposes of this Agreement, the face amount of each outstanding Letter of Credit shall constitute a used portion of the Revolving Commitments of the Banks.

• Simultaneously with any termination or reduction of the Total Commitment pursuant to this Section 2.9, the Borrower shall pay to the Agent for the account of each Bank the commitment fees on the amount of the Available Commitment and/or the Unavailable Commitment so terminated or reduced, accrued through the date of such termination or reduction.

• After a reduction of the Total Commitment hereunder, the commitment fees with respect of the "Unavailable Commitment" shall thereafter be calculated on the Total Commitment as so reduced.

• In addition, commencing on the Commitment Increase Date and thereafter, the Borrower shall pay to the Agent for the account of each Bank a supplemental commitment fee on the average daily amount of such Bank’s Unavailable Commitment Amount for each day from the Agreement Date through (but excluding) the Maturity Date at a rate per annum of 0.25% payable quarterly in arrears on each Interest Payment Date, on the Maturity Date and on the date of any termination of such Bank’s Commitment.

• On the Effective Date, the Borrower may give the Administrative Agent notice designating (a "Designation Notice") up to a maximum principal amount of $200,000,000 of the Total Commitment, in increments of $25,000,000, as being unavailable for borrowing (the total of all such designated amounts at any time being herein referred to as the "Unavailable Commitment").

More Definitions of Unavailable Commitment

Unavailable Commitment shall have the meaning specified in Section 2.5(d) hereof.

Unavailable Commitment means $150,000,000 of the Commitment.

Unavailable Commitment. Specified Percentage" or "Majority Lenders", without the prior written consent of each Lender; provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder without the prior written consent of the Administrative Agent. The Borrower may rely on the written representation by the Administrative Agent that consent of the Majority Lenders was obtained.

Unavailable Commitment has the meaning set forth in SECTION 2.7.

Unavailable Commitment means an amount equal to the positive difference, if any, between the Total Commitment and the Available Commitment then in effect. This unavailable commitment fee shall be due and payable in arrears on the first day of the next succeeding Fiscal Quarter, on the date of each reduction in the Total Commitment and at Maturity (by acceleration or otherwise). The applicable "Unavailable Fee Rate" shall be based on the Utilized Percentage of Borrowing Base in effect on each such day and calculated pursuant to the following table: Utilized Percentage of Applicable Unavailable Borrowing Base Fee Rate Less than fifty percent three-twentieths of one (50%) percent (0.15%) per annum Equal to or greater than three-twentieths of one fifty percent (50%) but percent (0.15%) per less than seventy-five annum percent (75%) three-sixteenths of one Equal to or greater than percent (0.1875%) seventy-five percent (75%)

Unavailable Commitment means the difference, if any, between $75,000,000 and the Commitments of all Banks.

Unavailable Commitment as defined in Section 2.4. "Uniform Customs": the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500, as the same may be amended from time to time. "Unrestricted Subsidiary": (a) any Subsidiary that is not designated as a Restricted Subsidiary or that is designated as an Unrestricted Subsidiary in accordance with the terms hereof and (b) any Subsidiary of such designated Subsidiary, provided, that (i) at no time shall any creditor of any such Subsidiary have any claim (whether pursuant to a Guarantee Obligation or otherwise) against the Borrower or any of its other Subsidiaries (other than another Unrestricted Subsidiary) in respect of any Indebtedness or other obligation of any such Subsidiary; (ii) neither the Borrower nor any of its Subsidiaries (other than another Unrestricted Subsidiary) shall become a general partner of any such Subsidiary; (iii) no default with respect to any Indebtedness of any such Subsidiary (including any right which the holders thereof may have to take enforcement action against any such Subsidiary) shall permit (upon notice, lapse of time or both) any holder of any Indebtedness of the Borrower or its other Subsidiaries (other than another Unrestricted Subsidiary) to declare a default on such other Indebtedness or cause the payment thereof to be accelerated or payable prior to its final scheduled maturity; (iv) no such Subsidiary shall own any Capital Stock of, or own or hold any Lien on any property of, the Borrower or any other Subsidiary of the Borrower (other than another Unrestricted Subsidiary); (v) no Investments may be made in any such 19 26 Subsidiary by the Borrower or any of its Subsidiaries (other than another Unrestricted Subsidiary); and (vi) at the time of such designation, no Default or Event of Default shall have occurred and be continuing or would result therefrom. It is understood that the Unrestricted Subsidiaries shall be disregarded for the purposes of any calculation pursuant to this Agreement relating to financial matters with respect to the Borrower. "Unrestricted Subsidiary Designation": as defined in Section 8.6. "Wholly Owned Subsidiary": as to any Person, any other Person at least 100% of the Capital Stock of which (other than directors' qualifying shares required by law) is owned by such Person directly or indirectly through one or more other Wholly Owned Subsidiaries. 1.2