Total Facility Usage Ratio Clause Samples
The Total Facility Usage Ratio clause defines the proportion of a credit facility that a borrower is currently utilizing relative to the total amount available. In practice, this ratio is calculated by dividing the outstanding borrowings and any undrawn commitments by the total facility limit, providing lenders and borrowers with a clear metric of facility usage. This clause is essential for monitoring compliance with facility covenants, managing credit risk, and ensuring that the borrower does not exceed agreed-upon usage thresholds.
Total Facility Usage Ratio. As defined in the Existing Credit Agreement in effect on the date hereof.
Total Facility Usage Ratio. The ratio, expressed as a percentage, of (i) the Total Facility Usage at such time to (ii) the lesser of (A) the Total Commitment at such time or (B) the Aggregate Borrowing Base at such time.
Total Facility Usage Ratio. If the Total Facility Usage Ratio exceeds 90% or, if after giving effect to all amounts requested, the Total Facility Usage Ratio would exceed 90%, the Borrowers shall be in compliance with the Fixed Charge Coverage Ratio contained in Section 10 for the most recently ended period of twelve (12) consecutive fiscal -129- months and the Borrowers shall have delivered to the Administrative Agent a Compliance Certificate to such effect and setting forth in reasonable detail computations evidencing compliance with such covenant.
Total Facility Usage Ratio. The ratio, expressed as a percentage, of (a) at any time when any Last Out Revolving Loans are outstanding, (i) the Total Facility Usage at such time, to (ii) the lesser of (A) the Total Commitment at such time, plus Total Last Out Revolving Commitment at such time or (B) the Last Out Borrowing Base at such time and (b) at all other times, (i) the Total Revolving Facility Usage at such time, to (ii) the lesser of (A) the Total Commitment at such time or (B) the Aggregate Borrowing Base at such time.