Utilized Commitment definition

Utilized Commitment means, for any day from the Closing Date to the Maturity Date, an amount equal to the sum of (a) the aggregate principal amount of all Loans outstanding on such day to the Borrower and (b) the aggregate L/C Obligations then outstanding.

Utilized Commitment with respect to all Lenders at any time (x) the sum of each Lender’s Individual Lender Exposure (excluding any amounts attributable to Swingline Loans) divided by (y) the total Commitments as determined for each fiscal quarter (and the interim period ending on the Termination Date) by the Administrative Agent.

Utilized Commitment means, for any day that the Utilization Fees are required to be paid pursuant to Section 3.5(b), the amount equal to the principal amount of Loans outstanding on such day.

Examples of Utilized Commitment in a sentence

• For each day that the principal amount of outstanding Loans hereunder is equal to or shall exceed an amount equal to fifty percent (50%) of the then Aggregate Revolving Committed Amount, the Borrower shall pay to the Administrative Agent for the pro rata benefit of the Lenders, a per annum fee equal to one-eighth of one percent (.125%) on the Utilized Commitment for such day (the "Utilization Fees").

• From the Restatement Date, Borrower shall pay to the Administrative Agent, for the account of the Banks according to their Pro Rata Shares, commitment fees equal to the product of (a) the per annum percentage set forth below opposite the Utilized Commitment set forth in the then most recently delivered Pricing Certificate times (b) the average daily Unused Commitment.

• The Utilized Commitment shall be reduced by the aggregate amount so designated under this Section 2.7 as the Unutilized Commitment upon the effective date of each such designation.

• It is assumed that directors will use judgment to ensure that this contact is not distracting to the operations of the Company or to the managers’ duties and responsibilities and that such contact, to the extent reasonably practical or appropriate, will be coordinated with the Chief Executive Officer.Written communications to management should, whenever appropriate, be copied to the Chief Executive Officer and Secretary.

• For any portion of the Commitment Amounts under the Schedules (as such term is defined in the Schedules) utilized prior to the closing of the Next Round (“Utilized Commitment Amount”), the number of shares issuable hereunder shall be calculated by multiplying the Utilized Commitment Amount by 4.9% divide by an Exercise Price equal to $0.70 (“Exercise Price I”).

More Definitions of Utilized Commitment

Utilized Commitment means, when used with reference to any Bank at the time any determination thereof is to be made, the then outstanding principal amount of all Loans made by such Bank pursuant to this Agreement.

Utilized Commitment means, as of each date of determination, the percentage of (a) the sum of (i) the principal Indebtedness then outstanding under the Notes, (ii) the amount available for drawing under outstanding Letters of Credit, and (iii) the aggregate amount of all unreimbursed draws with respect to letters of credit divided by (b) the Commitment on that date.

Utilized Commitment as to any Revolving Credit Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Credit Loans made by such Lender then outstanding and (b) such Lender's Revolving Credit Percentage of (i) the L/C Obligations (including, without duplication, the Dollar Equivalent of all Offshore Letters of Credit), (ii) the Dollar Equivalent of the aggregate outstanding principal amount of Fronted Offshore Revolving Credit Loans and (iii) the Non-Facility Loans Dollar Equivalent.

Utilized Commitment means that portion of the Revolving Commitment designated by Borrower from time to time in writing to Agent pursuant to Section 2.8 hereof as the active portion thereof and shall be an amount equal to the Revolving Commitment less the Unutilized Commitment. As of the date of this Agreement, the Utilized Commitment shall be Fifty Million Dollars ($50,000,000).

Utilized Commitment as to any Revolving Credit Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Credit Loans made by such Lender then outstanding and (b) such Lender's Revolving Credit Percentage of (i) the L/C Obligations, (ii) the Dollar Equivalent of the aggregate outstanding principal amount of Fronted Offshore Revolving Credit Loans and (iii) the Non-Facility Loans Dollar Equivalent.

Utilized Commitment means, when used with reference to any Bank at the time any determination thereof is to be made, the sum of (i) the then outstanding principal amount of all Loans made by such Bank pursuant to this Agreement plus (ii) the Pro Rata Share of such Bank in the Stated Amount of all Letters of Credit issued by the LC Bxxxx. The foregoing definitions shall be equally applicable to both the singular and plural forms of the defined terms. The words "herein," "hereof" and words of similar import as used in this Agreement shall refer to this Agreement as a whole and not to any particular provision in the Agreement.

Utilized Commitment means on any date the aggregate Market Value of all Securities which are the subject of an outstanding Loan to Borrower hereunder on or prior to such date (measuring Market Value as of the Settlement Date of each relevant Transaction).