Unused Commitment Amount definition

Unused Commitment Amount means, with respect to a Lender at any time, the lesser of (a) such Lender’s Commitment at such time and (b) such Lender’s Pro Rata Share of the Borrowing Base then in effect at such time minus, in each case the sum of (i) the aggregate outstanding principal amount of all Advances owed to such Lender at such time plus (ii) such Lender’s Pro Rata Share of the aggregate Letter of Credit Exposure at such time.

Unused Commitment Amount means, at any time of determination, the Aggregate Commitment, minus, the Initial Loan Advance, minus, the aggregate amount of all Subsequent Draws.

Unused Commitment Amount means, as of any date of determination, the greater of (a) the Maximum Commitment as of such date less the Maximum Borrowed Amount and (b) zero.

Examples of Unused Commitment Amount in a sentence

• Subject to Section 2.16, the Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee equal to the Commitment Fee Rate on the average daily Unused Commitment Amount for such period.

• Each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Advances to the Borrower from time to time on any Business Day during the period from the date of this Agreement until the Commitment Termination Date in an amount for each Lender not to exceed such Lender’s Unused Commitment Amount.

• Each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Advances to the Borrower from time to time on any Business Day during the Availability Period in an amount for each Lender not to exceed such Lender’s Unused Commitment Amount.

• The Borrower agrees to pay to the Administrative Agent for the account of each Lender having a Commitment a commitment fee at a per annum rate equal to the Commitment Fee Rate on the average daily Unused Commitment Amount of such Lender, from the date of this Agreement until the Commitment Termination Date.

• The Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee at a per annum rate equal to the Commitment Fee Rate on the daily Unused Commitment Amount of such Lender, from the Effective Date until the Commitment Termination Date; provided that, no Commitment Fee shall accrue on the Commitment of a Defaulting Lender during the period such Lender remains a Defaulting Lender.

More Definitions of Unused Commitment Amount

Unused Commitment Amount means the difference on each day in the immediately preceding quarter (or, in the case of the fee payable on the Maturity Date, on each day after the end of the prior quarter through the Maturity Date) between (a) the amount of the Commitment and (b) the aggregate principal amount of all Loan and Letters of Credit outstanding, calculated on an actual day, three hundred and sixty (360) day year basis.

Unused Commitment Amount means, as of any date as of which the amount thereof shall be determined, the positive difference, if any, between (i) the Commitment Amount as of such date and (ii) the Outstanding Amount as of such date.

Unused Commitment Amount means with respect to a Lender at any time, such Lender’s Maximum Credit Amount, minus, in each case the sum of (i) the aggregate outstanding principal amount of all Loans owed to such Lender at such time plus (ii) such Lender's Pro Rata Share of the aggregate Letter of Credit Exposure at such time.

Unused Commitment Amount shall have the meaning set forth in Section 2.3 Fees hereof.

Unused Commitment Amount means at any time, (a) the lesser of (i) the Commitment at such time or (ii) the Borrowing Base in effect at such time minus, in each case, (b) the sum of the Aggregate Outstanding Exposure at such time.

Unused Commitment Amount means, as of the date of determination, the Commitment Amount as of such date less the sum of all Advances as of such date (without giving effect to any prepayments thereof). [END OF ARTICLE I]

Unused Commitment Amount means, with respect to a Lender at any time, (a) the lesser of (i) such Lender's Commitment at such time and (ii) such Lender's Pro Rata Share of the Borrowing Base in effect at such time minus, in each case, (b) the sum of (i) the aggregate outstanding principal amount of all Advances owed to such Lender at such time plus (ii) such Lender's Pro Rata Share of the aggregate Letter of Credit Exposure at such time (including any such Letter of Credit Exposure that has been reallocated pursuant to Section 2.17(c)(i)).