Unused Line of Credit definition

Unused Line of Credit means $10,000,000.00 minus the outstanding principal balance of the Line of Credit.
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Unused Line of Credit means, at any time, an amount equal to (a) the maximum principal amount of the Line of Credit at such time less (b) the sum of (i) the unpaid principal amount of the advances outstanding at such time under the Line of Credit, (ii) the maximum amount available to be drawn under all Letters of Credit outstanding at such time and (iii) the aggregate amount of all drawings under the Letters of Credit which have not been reimbursed pursuant to the Reimbursement Agreement at such time.
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Unused Line of Credit. Agreement" shall mean the Loan Agreement as amended by the Amendment. "Borrower" shall mean Xxxxxx Shipyard, L.L.C., a Louisiana limited liability company. "Business Day" shall mean a day other than a Saturday, Sunday or legal holiday for commercial banks in New Orleans, Louisiana and London, England. "Closing Date" shall mean effective as of December 31, 2001. "Company Agent" shall mean Xxxxx X. Xxxxxxxxx or Xxxxxxx X. Xxxxx, Xx. "Drydock" shall mean that certain new drydock approximately 280 feet long by 160 feet wide with a lifting capacity of 10,000 tons, which was first put into operation in March, 2001 at the Xxxxxx Shipyard. "Libor Rate" shall mean, for any Interest Period, an interest rate per annum (rounded upward to the nearest hundredth of a percent (1/100 of 1%)) which is the offered quotation to Lender of the London interbank offered rate for U.S. Dollar deposits of amounts in immediately available funds in the London market for one month, two months, three months or six months as recorded by the Bloomberg, L.P. or such other service used by Lender as an information vendor for the purpose of displaying British Bankers' Association interest settlement rates for U.S. Dollar Deposits, as determined by Lender as of the opening of business of Lender or as soon thereafter as practicable, plus the applicable margin of 175 basis points (1.75% percent). The Libor Rate shall be determined by Lender as of the opening of business of Lender or as soon thereafter as practicable. "Line of Credit Period" shall mean the period commencing on the Closing Date and ending on May 31, 2003. II. The Loan Agreement is hereby amended by amending and restating Sections 2.02 (a) and (b), Section 2.03 and Section 2.05 as follows: SECTION 2.02. (A)
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Examples of Unused Line of Credit in a sentence

  • The Loan Agreement is hereby amended by the addition or restatement of the following definitions in Section 1.01 and by the deletion of the definition "Unused Line of Credit": "Agreement" shall mean the Loan Agreement as amended by the Amendment.


More Definitions of Unused Line of Credit

Unused Line of Credit means, at any time, an amount equal to (a) the Maximum Line of Credit Amount at such time less (b) the unpaid principal
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Related to Unused Line of Credit

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Unused Revolving Line Facility Fee is defined in Section 2.4(c). [Signature page follows.]

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Unused Line Fee has the meaning specified in Section 2.5.

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Unused Revolving Commitment means, for any Lender at any time, the excess of (i) such Lender’s Revolving Commitment at such time over (ii) such Lender’s Revolving Facility Exposure at such time.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

  • Unused Revolving Credit Commitment means, with respect to any Lender at any date of determination, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving Credit Advances, Swing Line Advances and Letter of Credit Advances made by such Lender (in its capacity as a Lender) and outstanding at such time plus (ii) such Lender’s Pro Rata Share of (A) the aggregate Available Amount of all Letters of Credit outstanding at such time, (B) the aggregate principal amount of all Letter of Credit Advances made by the Issuing Banks pursuant to Section 2.03(c) and outstanding at such time and (C) the aggregate principal amount of all Swing Line Advances made by the Swing Line Bank pursuant to Section 2.01(c) and outstanding at such time.

  • 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.

  • Equity Line of Credit shall have the meaning ascribed to such term in Section 4.13.

  • Unused Revolving Credit Commitments means, at any time, the difference between the Revolving Credit Commitments then in effect and the aggregate outstanding principal amount of Revolving Loans and L/C Obligations.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Revolving Line is an Advance or Advances in an amount equal to Ten Million Dollars ($10,000,000).

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including February 28, 2015, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled "Level II"; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled "Level II": Level Average Revolver Usage Applicable Unused Line Fee Percentage I > 50% of the Maximum Revolver Amount 0.25 percentage points II < 50% of the Maximum Revolver Amount 0.375 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each fiscal month of Borrowers by Agent.

  • Letter of Credit Limit means $5,000,000.

  • Available Unused Commitment means, with respect to a Revolving Facility Lender under any Class of Revolving Facility Commitments at any time, an amount equal to the Dollar Equivalent of the amount by which (a) the applicable Revolving Facility Commitment of such Revolving Facility Lender at such time exceeds (b) the applicable Revolving Facility Credit Exposure of such Revolving Facility Lender at such time.

  • Unused Commitment means at any date, with respect to any Bank, an amount equal to its Commitment less the aggregate outstanding principal amount of its Syndicated Loans (but not its Money Market Loans).

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).