Utilized Credit definition

Utilized Credit means, at any time, without duplication, the sum of (i) the aggregate principal amount then outstanding on Revolving Credit Loans, (ii) the aggregate principal amount then outstanding on Swing Loans, plus (iii) the aggregate Letter of Credit Exposure, plus (iv) the aggregate amount of payment theretofore made by the Issuing Bank in respect to Letters of Credit and not theretofore reimbursed by the Borrower to the Issuing Bank or deemed a Revolving Credit Loan pursuant to Section 2.3(d).
Sample 1
Utilized Credit means, at the time in question, without duplication, an amount equal to the sum of (i) the aggregate principal amount then outstanding on Loans PLUS (ii) the aggregate LC Obligations then outstanding.
Sample 1
Utilized Credit means, at any time, without duplication, the sum of (i) the aggregate principal amount then outstanding on Revolving Credit Loans, (ii) the aggregate principal amount then outstanding on Swing Loans, plus (iii) the aggregate Letter of Credit Exposure, plus (iv) the aggregate
Sample 1

Examples of Utilized Credit in a sentence

  • For this purpose the liquid Assets and Un- Utilized Credit facilities of Partners of Joint Venture/Consortium shall be considered together.

  • For this purpose the liquid Assets and Un- Utilized Credit facilities of Partners of Joint Venture/Consortium shall be considered together.Note: Liquid Assets and Credit facilities (Un-Utilized) are applicable independently for each package irrespective of the no.

  • Notwithstanding the foregoing, the aggregate undrawn face amount of all Letters of Credit at any time outstanding shall not exceed the aggregate Letter of Credit Commitments of all the Banks, and no Letter of Credit will be issued if immediately after such issuance the Utilized Credit would exceed the Available Commitment then in effect.

  • Notwithstanding the foregoing, Borrower shall not be entitled to obtain a Loan(s) from a Bank and no Bank shall be permitted to make Loans to Borrower in an amount which, after giving effect to such Loan(s), would cause the Utilized Credit to exceed the Borrowing Base then in effect.

  • The Borrower shall have the right upon not less than three (3) Business Days' prior written notice to the Agent, to terminate the Total Commitment or, from time to time, to reduce the amount of the Total Commitment, PROVIDED that no such termination or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Loans made on the effective date thereof, the aggregate principal amount of (i) the Utilized Credit would exceed the Borrowing Base in effect at that time.

  • No Letter of Credit will be issued, and the Issuing Bank shall have no obligation to issue any Letter of Credit, in a face amount which, after giving effect to the issuance of such Letter of Credit, would cause the Utilized Credit to exceed the Borrowing Base then in effect.

  • Notwithstanding the foregoing, the aggregate undrawn face amount of all Letters of Credit at any time outstanding shall not exceed the aggregate Letter of Credit Commitments of all the Banks, and no Letter of Credit will be issued if immediately after such issuance the Utilized Credit would exceed the Borrowing Base then in effect.


More Definitions of Utilized Credit

Utilized Credit means, at any time, without duplication, the sum of (i) the aggregate principal amount then outstanding on Loans, plus (ii) the aggregate LC Obligations then outstanding.
Sample 1
Utilized Credit means, at any time, without duplication, the sum of (i) the aggregate principal amount then outstanding on Revolving Credit Loans, plus
Sample 1

Related to Utilized Credit

  • Credit Enhancement Percentage For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the sum of the aggregate Certificate Principal Balances of the Mezzanine Certificates and the Class CE Certificates, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans, calculated after taking into account distributions of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date.

  • Senior Credit Support Depletion Date The date on which the Class Certificate Balance of each Class of Subordinated Certificates has been reduced to zero.

  • Principal Credit Facility means any loan agreement, credit agreement, note purchase agreement, indenture or similar document under which credit facilities in the aggregate original principal or commitment amount of at least $20,000,000 are provided for.

  • ABL Credit Agreement as defined in the recitals hereto.

  • Advances Outstanding On any day, the aggregate principal amount of all Advances outstanding on such day, after giving effect to all repayments of Advances and the making of new Advances on such day.

  • Available Credit means, at any time, (a) the then effective Revolving Credit Commitments minus (b) the aggregate Revolving Credit Outstandings at such time.

  • ABL Credit Facility means, collectively, the senior secured revolving credit facility, swing loans, and letters of credit provided for by the ABL Credit Agreement.

  • Conduit Credit Enhancer shall have the meaning assigned to such term in Section 14(d).

  • Liquidity Amount means, as of any date of determination, the sum of (a) the Aggregate Borrowing Availability as of such date and (b) the Unrestricted Cash Amount as of such date.

  • Affiliated Lender Cap has the meaning set forth in Section 10.07(l)(iii).

  • Original Applicable Credit Support Percentage With respect to each of the following Classes of Subordinate Certificates, the corresponding percentage described below, as of the Closing Date: Class M-1 ______% Class B-1 ______% Class B-2 ______%]

  • Bank Credit Agreement means the Credit Agreement dated as of May 9, 2005 by and among the Company, certain Subsidiaries of the Company named therein, the Administrative Agent, and the Bank Lenders and other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Original Credit Agreement shall have the meaning assigned to such term in the recitals hereto.

  • Available Income means the Up-MACRO Available Income or the Down-MACRO Available Income, as applicable.

  • Available Amount of any Letter of Credit means, at any time, the maximum amount available to be drawn under such Letter of Credit at such time (assuming compliance at such time with all conditions to drawing).

  • Second Lien Credit Agreement means the Second Lien Credit Agreement, dated as of the Original Closing Date, among Holdings, the Borrower, as borrower, the lenders party thereto and Credit Suisse AG, Cayman Islands Branch, as administrative agent, as such document may be amended, renewed, restated, supplemented or otherwise modified from time to time.

  • QFC Credit Support has the meaning specified in Section 11.21.

  • Alternate Credit Facility means any irrevocable direct pay letter of credit, insurance policy or similar credit enhancement or support facility for the benefit of the Trustee, the terms of which Alternate Credit Facility shall in all respects material to the registered owners of the Bonds be the same (except for the term set forth in such Alternate Credit Facility) as those of the Letter of Credit.

  • Applicable Credit Support Percentage As defined in Section 4.02(e).

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Administrative Agent maintained at the office of the Administrative Agent at 200 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Delphi Letter of Credit Account” that shall be used solely for the purposes set forth herein.

  • First Lien Credit Agreement has the meaning set forth in the recitals hereto.

  • Total Credit Exposure means, as to any Lender at any time, the unused Commitments and Revolving Credit Exposure of such Lender at such time.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Class B Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Available Commitment means a Lender’s Commitment minus:

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).