Unutilized Portion definition

Unutilized Portion. This term shall mean on any date, the maximum principal amount of the Credit Facility at such date, after giving effect to any reductions required by this Agreement, minus the sum of Loans outstanding, the effective Stated Amount of Outstanding Letters of Credit and Unreimbursed Letter of Credit Draws.

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Unutilized Portion means, with respect to any Credit Facility, at the date of determination:

Unutilized Portion means, in respect of any Credit Facility, on any date, the maximum principal amount of such Credit Facility at such date, after giving effect to any reductions required by this Agreement, minus the Utilized Portion of such Credit Facility, at such date.

Examples of Unutilized Portion in a sentence

• The Borrower shall pay to the Administration Agent on account of the Lenders a commitment fee calculated daily on the Unutilized Portion of the Revolving Facility at a rate per annum equal to the Commitment Fee Rate.

• The Borrower shall pay to the Lender a commitment fee calculated at a rate per annum equal to the Applicable Percentage in effect from time to time on the Unutilized Portion of the Credit.

• The Borrower may, upon three Banking Days prior written notice to the Agent, permanently cancel the Unutilized Portion of the Credit in whole or from time to time in part, provided that any partial cancellation must be in a minimum amount of Cdn.

• The Utilization Fee will be calculated on a daily basis as the Unutilized Portion at the end of each Business Day multiplied by the Utilization Fee Rate, divided by the number of dates in that calendar year (on the basis of a 365-day or 366-day year, as applicable).

• The Borrower shall pay to the Swingline Lender a commitment fee calculated daily on the Unutilized Portion of the Swingline Facility at a rate per annum equal to the Commitment Fee Rate.

More Definitions of Unutilized Portion

Unutilized Portion shall have the meaning ascribed thereto under Section ‎2.7 below.

Unutilized Portion means, at the relevant time, the Revolver Borrowing Limit less the Outstanding Principal Obligations under the Revolving Facility.

Unutilized Portion means, at the relevant time, the Credit Facility Limit less the Outstanding Principal Obligations.

Unutilized Portion means, at any time and in respect of any of the Canadian Tranche A Commitment Amount, the U.S. Tranche A Commitment Amount or the Tranche B Commitment Amount, as applicable, the difference between the Canadian Tranche A Commitment Amount, the U.S. Tranche A Commitment Amount or the Tranche B Commitment Amount, as applicable, and the aggregate U.S. Dollar Value of all Loans outstanding under Tranche A by the Canadian Tranche A Lenders and the U.S. Tranche A Lenders, as applicable, or Tranche B by the Tranche B Lenders, as applicable, during such Fiscal Quarter;

Unutilized Portion means at the date of determination, the aggregate Commitment of the Lenders at such date minus the Utilized Portion at such date.

Unutilized Portion means, with respect to the Credit, at the date of determination thereof, the maximum principal amount of the Credit available at such date, less the Utilized Portion of such Credit at such date;

Unutilized Portion shall have the meaning ascribed thereto under Section ‎2.8 below. “VAT” - shall have the meaning ascribed thereto under Section ‎2.6.3 below. “Warrant” - shall have the meaning ascribed thereto under Section ‎3.2.1 below.