Unused Facility Amount definition

Unused Facility Amount. At any time, (a) the Facility Amount minus (b) the Advances Outstanding at such time.

Unused Facility Amount means the daily amount by which (a) the Aggregate Revolving Credit Commitments exceeds (b) the sum of (i) Outstanding Amount of all Revolving Credit Loans other than Swing Line Loans and (ii) the Outstanding Amount of all Letter of Credit Obligations, subject to adjustment as provided in Section 2.17. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be considered usage for purposes of determining the Unused Facility Amount.

Unused Facility Amount means, at any time, (i) the positive difference, if any, of (a) the Facility Amount at such time minus (b) the Advances Outstanding at such time; or (ii) if the amount determined pursuant to the foregoing clause (i) is a negative amount, then “Unused Facility Amount” shall mean zero.

Examples of Unused Facility Amount in a sentence

• The Borrowers shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, a fee (the “Unused Fee”) equal to the Unused Fee Rate times the Unused Facility Amount.

• For each day, the sum of (a) 0.50% on the first portion of the Unused Facility Amount up to the product of (i) 40% and (ii) the Facility Amount and (b) for all Unused Facility Amount in excess of such first portion, 2.00%.

• The equivalent in Dollars of each Eurocurrency Letter of Credit may be recalculated hereunder on each date that it shall be necessary to determine each Lender's Unused Facility Amount of the Commitment, or any or all Advance or Advances outstanding on such date.

• On the terms and conditions hereinafter set forth, from time to time from the Closing Date until the end of the Reinvestment Period, the Borrower may request the Swingline Lender to make Swingline Advances to the Borrower hereunder, secured by the Collateral Portfolio in an aggregate amount up to the Unused Facility Amount as of such date.

• Within the limits of the Unused Facility Amount, the Borrower may request Revolving Loans under this Section 2.1, repay all or a portion of outstanding Revolving Loans pursuant to Section 2.8 hereof, and request to re-borrow Revolving Loans under this Section 2.1.

More Definitions of Unused Facility Amount

Unused Facility Amount means, on any applicable date of determination, (i) the aggregate Financing Commitments of all Lenders minus (ii) the aggregate outstanding amount of the Advances.

Unused Facility Amount means, at any time of determination, the difference between (a) the Maximum Facility Amount and (b) the sum of the outstanding principal amount of all Loans and Letter of Credit Exposure at such time.

Unused Facility Amount means the daily amount by which (a) the Aggregate Revolving Credit Commitments exceeds (b) the sum of (i) Outstanding Amount of the Dollar Equivalent of all Revolving Credit Loans other than Swing Line Loans and (ii) the Outstanding Amount of the Dollar Equivalent of all Letter of Credit Obligations, subject to adjustment as provided in Section 2.17. For the avoidance of doubt, the Outstanding Amount of the Dollar Equivalent of Swing Line Loans shall not be considered usage for purposes of determining the Unused Facility Amount. “Unused Fee” has the meaning specified in Section 2.09(a). “Unused Fee Rate” means a per annum rate equal 0.25%. “U.S. Government Securities Business Day” means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities. “U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code. “Value” means, for any Eligible Account or Eligible Time and Material Account, as applicable, the Dollar Equivalent of the face amount of such Eligible Account or Eligible Time and Material Account, as applicable, net of (a) any returns, rebates, discounts (calculated on the shortest terms), credits, allowances or Taxes (including sales, excise or other taxes) that have been or could reasonably 65 [Matrix] Credit Agreement #85638137 be expected to be claimed by the Account Debtor or any other Person and (b) the amount of any premiums, deductibles, co-insurance, fees or similar costs of and amounts payable by any Borrower relating to any acceptable credit insurance obtained with respect to such Account. “Voting Equity Interests” means Equity Interests with respect to which the holders thereof are ordinarily, in the absence of contingencies, entitled to vote for the election of members of the Board of Directors of the issuer thereof, even if the right so to vote has been suspended by the happening of such a contingency. “Wage Claim Reserves” means the reserves established by the Administrative Agent from time to time, in its reasonable discretion, to reflect the aggregate amount of liabilities of the Loan Parties that are or, upon nonpayment of or creation of a claim with respect to such liability, would, pursuant to Law, be secured by Liens on the Collateral that are senior to the Admini...

Unused Facility Amount means the Commitment minus the sum of (a) all outstanding Revolver Advances, plus (b) all outstanding Special Purpose Advances, if any, but only if the Special Purpose Loan is a revolving loan as determined in accordance with the terms of Section 2.17 hereof, plus (c) all issued and outstanding Letters of Credit, plus (d) all reimbursement obligations with respect to any draws under any Letters of Credit.

Unused Facility Amount means (i) the Aggregate Revolving Loan Commitment, less (ii) the sum of (x) the average daily balance of all Revolving Loans outstanding plus (y) the average daily amount of Letter of Credit Obligations, in each case, during the preceding month.

Unused Facility Amount means, at any time of determination, the difference between (a) the aggregate Revolving Credit Commitments of the Lenders at such time and (b) the sum of the outstanding principal amount of all Loans and Letter of Credit Exposure at such time.

Unused Facility Amount means, at any time, the Available Facility Amount at such time plus the aggregate principal amount of Accepted Notes which have not been purchased and sold hereunder prior to such time.