US Revolving Facility Usage definition

US Revolving Facility Usage means at any time the sum of the Dollar Equivalent amount of the outstanding Revolving Credit Loans to the US Revolving Borrowers, the outstanding Swing Loans, and the Letter of Credit Obligations.
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Examples of US Revolving Facility Usage in a sentence

  • Whenever the US Revolving Facility Usage exceeds the US Borrowing Base or the Canadian Revolving Facility Usage exceeds the Canadian Borrowing Base, the applicable Borrowers shall make, within one (1) Business Day after any Borrower learns of such excess and whether or not the Administrative Agent has given notice to such effect, a mandatory prepayment of principal to be applied to the Revolving Credit Loans equal to the excess, together with accrued interest on such principal amount.

  • Whenever the US Revolving Facility Usage exceeds the US Borrowing Base, or the Canadian Revolving Facility Usage exceeds the Canadian Borrowing Base, the applicable Borrowers shall make, within one (1) Business Day after any Borrower learns of such excess and whether or not the Administrative Agent has given notice to such effect, a mandatory prepayment of principal to be applied to the Revolving Credit Loans equal to the excess, together with accrued interest on such principal amount.

  • If any US Bank determines that it is legally prohibited from making any US Revolving Credit Loans when required to do so pursuant to this Section 2.17 [Adjustment of Loans and Certain Other Obligations], such US Bank shall purchase an undivided participation interest in the US Revolving Facility Usage of the other US Banks as appropriate in an amount equal to the amount of the US Revolving Credit Loan or US Revolving Credit Loans such prohibited US Bank was required to fund.