Available Commitment definition

Available Commitment means a Lender’s Commitment minus:

Available Commitment means, in relation to a Facility, a Lender’s Commitment under that Facility minus:

Available Commitment as to any Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Commitment then in effect over (b) such Lender’s Extensions of Credit then outstanding.

Examples of Available Commitment in a sentence

• Each Request for Loan shall be signed by an Authorized Officer and shall specify: (i) the Advance Date for the requested Loan which shall be a Business Day; (ii) the principal amount of the Loan to be borrowed, which amount shall not be less than the minimum amount set forth in Section 2.2(a)(iii) and shall not exceed the Available Commitment as of the proposed Advance Date; and (iii) that the proceeds of the requested Loan shall be used solely for any purpose permitted pursuant to Section 6.15 hereof.

• The Borrower may irrevocably elect to reduce the Available Commitment by a principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof at any time prior to the Commitment Termination Date upon not less than three (3) Business Days’ prior written notice to the Bank whereupon the Available Commitment shall be permanently reduced by the amount requested.

• The Borrower may irrevocably elect to terminate the Commitment at any time prior to the Commitment Termination Date upon not less than three (3) Business Days’ prior written notice to the Bank whereupon the Available Commitment shall permanently be reduced to $0.

More Definitions of Available Commitment

Available Commitment means an amount equal to the excess, if any, of (a) the amount of the Total Revolving Credit Commitment over (b) the sum of (i) the aggregate principal amount of all Revolving Credit Loans (but not Swingline Loans) then outstanding and (ii) the aggregate Letters of Credit Outstanding at such time.

Available Commitment as to any Lender at any time, an amount equal to the excess, if any, of (a) the amount of such Lender’s Commitment less (b) the aggregate principal amount of all Loans to the Borrower made by such Lender then outstanding; collectively, as to all the Lenders, the “Available Commitments.”

Available Commitment as of any day means, with respect to the VRDP Shares, the sum of the aggregate Liquidation Preference of the VRDP Shares then Outstanding plus all accumulated but unpaid dividends, whether or not earned or declared on such VRDP Shares.

Available Commitment means, for each Lender, the excess of such Lender’s Commitment over such Lender’s Percentage of the Outstanding Credits. “Available Commitments” shall refer to the aggregate of the Lenders’ Available Commitments hereunder.

Available Commitment means, at any time, an amount equal to the excess, if any, of (a) the Commitment over (b) the aggregate principal amount of all Loans then outstanding.

Available Commitment means, at any time, the aggregate Commitments of all Lenders then in effect minus the Aggregate Credit Exposure at such time.

Available Commitment means, for each Lender at any time on any day, the unused portion of such Lender’s Commitment, computed after giving effect to all Extensions of Credit made or to be made on such day, the application of proceeds therefrom and all prepayments and repayments of Advances made on such day.