Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate Unpaid Drawings obligations with respect to a Letters of Credit.
Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.
Unused Letter of Credit Subfacility means an amount equal to $5,000,000 MINUS the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit PLUS, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.
Examples of Unused Letter of Credit Subfacility in a sentence
As of the Business Day immediately preceding the requested issuance date of the Letter of Credit, the Agent shall determine the amount of the applicable Unused Letter of Credit Subfacility and the Excess Availability as of such date.
More Definitions of Unused Letter of Credit Subfacility
Unused Letter of Credit Subfacility means an amount equal to $30,000,000 minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.
Unused Letter of Credit Subfacility means an amount equal to
Unused Letter of Credit Subfacility means an amount equal to the lesser of (i) $5,000,000 minus the Letter of Credit Obligations, and (ii) the undrawn portion of the Revolving Loan Commitment Amount of all Lenders.
Unused Letter of Credit Subfacility means an amount equal to (a) $25,000,000 minus (b) the sum of (i) the aggregate undrawn amount of all outstanding Letters of Credit and U.S. Letters of Credit plus, without duplication, (ii) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit and U.S. Letters of Credit.
Unused Letter of Credit Subfacility means an amount equal to $50,000,000 minus the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, and (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit.
Unused Letter of Credit Subfacility means an amount equal to the Letter of Credit Subfacility minus the Equivalent Amount in Dollars of the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit plus, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Letters of Credit. “Unused Line Fee” has the meaning specified in Section 3.5. “UR Canada” has the meaning specified in the introductory paragraph to this Agreement. “U.S. Availability” means, at any time, (a) the lesser of (i) the Maximum Revolver Amount and (ii) the U.S. Borrowing Base, minus (b) the sum of (i) the Aggregate U.S. Revolver Outstandings, (ii) the Aggregate ROW Revolver Outstandings, (iii) the Aggregate French Swingline Outstandings, (iv) the Aggregate Canadian Revolver Outstandings Funded On U.S. Borrowing Base and (v) the Aggregate ANZ Revolver Outstandings. “U.S. Bank” means Bank of America, N.A., a national banking association, or any successor entity thereto. “U.S. Borrowers” has the meaning specified in the introductory paragraph to this Agreement. “U.S. Borrowing Base” means, at any time, an amount in Dollars equal to: (a) the sum of (i) the lesser of (x) $100,000,000 and (y) the Merchandise and Consumables Inventory Formula Amount with respect to the U.S. Obligors; plus (ii) the lesser of (x) 100% of the Net Book Value of Eligible Rental Equipment of the U.S. Obligors and (y) 85% of the Net Orderly Liquidation Value of the Eligible Rental Equipment of the U.S. Obligors; minus (b) the sum of (i) the amount of Pari Passu Debt Reserves with respect to Indebtedness of the U.S. Obligors, plus (ii) the amount of all other Reserves related to the U.S. Credit Facilities, the ROW Credit Facilities, the French Credit Facility and/or the ANZ Credit Facilities from time to time established by the Agent in accordance with Section 2.9 of this Agreement or in accordance with the definition of “Waterfall Priority Hedge Agreement Reserve”. “U.S. Collateral” means all of the U.S. Obligors’ personal property from time to time subject to the Agent’s Liens securing payment or performance of any Obligations pursuant to the U.S. Security Documents, other than Excluded Assets (as defined in the U.S. Security Agreement). “U.S. Credit Facilities” means the revolving credit, swingline and letter of credit facilities provided for by this Agreement extended to the U.S. Borrowers. “U.S. Government Securities Business Day” means any Business Day, except any Business Day on which any of the...
Unused Letter of Credit Subfacility means, at any time, an amount equal to the Letter of Credit Subfacility at such time minus the sum of (a) the aggregate undrawn amount of all outstanding Canadian Letters of Credit issued under the Canadian LC Accommodation plus, without duplication, (b) the aggregate unpaid reimbursement obligations with respect to all Canadian Letters of Credit issued under the Canadian LC Accommodation plus, (c) the aggregate undrawn amount of all outstanding Pro Rata Canadian Letters of Credit issued under the Pro Rata Canadian LC Accommodation plus, without duplication, (d) the aggregate unpaid reimbursement obligations with respect to all Pro Rata Canadian Letters of Credit issued under the Pro Rata Canadian LC Accommodation, plus (e) the aggregate undrawn amount of all outstanding U.S. Letters of Credit plus, without duplication, (f) the aggregate unpaid reimbursement obligations with respect to all U.S. Letters of Credit.