Average Usage definition

Average Usage means, on the applicable Adjustment Date, the quotient, expressed as a percentage, obtained by dividing (a) the average daily Outstanding Amount of the Total Revolving Credit Exposure for the Fiscal Quarter immediately preceding such Adjustment Date by (b) the average daily Aggregate Commitments (other than Commitments of Defaulting Lenders) for such Fiscal Quarter.

Average Usage means the average utilization of Revolving Commitments during the immediately preceding fiscal quarter.

Average Usage means, as of any date of determination, the average daily balance of all Credit Extensions (excluding Swing Line Loans and FILO Loans) in the immediately preceding Fiscal Quarter.

Examples of Average Usage in a sentence

• TimeOn the day of the event (day N), assume the actual metered load consumption is as shown in the following table: TimeHB7HB 8In this case, the Adjustment Basis Average Usage is the average of the MWh in hours 7 and 8, or3.5 MWh.The Gross Adjustment Factor is the ratio of the Adjustment Basis Average Usage to the Adjustment Basis Average CBL, 3.5/3.7or 0.95.

• For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards Average Usage for purposes of determining the commitment fee.

• Should Tenant in any month use in excess of one hundred and ten percent (110%) of the average electricity, water or other centrally metered utility used per square foot by all tenants in the Building or Project (“Average Usage”), all gallons of water used above Average Usage shall be considered in excess of normal water and sewer usage and Tenant shall pay Landlord for all such excess usage for both sewer and water on a monthly basis, within thirty (30) days after receipt of an invoice from Landlord.

• Under no circumstances can the Average Usage Benefit exceed Four Hundred Twenty-Five Dollars ($425.00) per Valid Claim.

• Under no circumstances can the Above Average Usage Benefit exceed Five Hundred Dollars ($500.00) per Valid Claim.

More Definitions of Average Usage

Average Usage the average utilization of Revolver Commitments during the immediately preceding Fiscal Quarter.

Average Usage means, at any Adjustment Date, the average utilization of Revolving Commitments (expressed as a percentage) for the fiscal quarter immediately preceding such Adjustment Date.

Average Usage means, at any Adjustment Date, the average daily aggregate Revolving Exposure for the applicable Subfacility (excluding any Revolving Exposure resulting from any outstanding Swingline Loans) for the fiscal quarter period immediately preceding such Adjustment Date divided by the Revolving Commitments in respect of such Subfacility at such time.

Average Usage or any other ratio used in the calculation of the Applicable Rate, or in the calculation of any other interest or fee due hereunder (except as otherwise contemplated in this Agreement) shall constitute a reduction in any rate of interest or fee hereunder;

Average Usage means, at any date, the average daily utilization of the Revolving Credit Commitment during the Monthly Reporting Period immediately preceding such date.

Average Usage means the average daily utilization of Revolving Commitments.

Average Usage means, as of any date of determination, (a) with respect to the Revolving Credit Facility, the average daily balance of all Credit Extensions (excluding Swing Line Loans) under the Revolving Credit Facility in the immediately preceding Fiscal Quarter and (b) with respect to the FILO Credit Facility, the average daily balance of all Credit Extensions under the FILO Credit Facility in the immediately preceding Fiscal Quarter.