Examples of Average Revolver Usage in a sentence
Commencing May 1, 2013 and at all times during the term of this Agreement, Borrower shall maintain an Average Revolver Usage of at least $5,000,000 or pay the Agent the Minimum Interest Fee on the terms and on the dates specified in Section 2.10(c) of this Agreement.
Notwithstanding the foregoing, the Unused Line Fee will be waived for the six months immediately prior to applicable ULF Payment Date if the Average Revolver Usage for each month during such six-month period is equal to or greater than fifty percent (50%) of the Maximum Revolver Amount.
For purposes of calculating the Unused Line Fee, any Revolving Credit Loans made as Swing Loans shall be excluded from the calculation of Average Revolver Usage during the preceding fiscal quarter.
Average Revolver Usage - for any period, the average daily aggregate Facility Exposure for such period divided by the Commitments on the last day of such period.