BILLABILITY definition
BILLABILITY means the percentage of the aggregate hours for which the total labor force of a business shall have worked which is billable to the customers of such business, and with respect to the Borrowers, shall be calculated pursuant to a fraction, expressed as a percentage, the numerator of which shall equal, for any period of determination, the Borrowers' aggregate direct chargeable labor in respect of customer projects and the denominator of which shall equal, for such period, the Borrowers' aggregate total available labor less the aggregate amount of any paid leave for such period.
BILLABILITY at any time, the quotient (expressed as a percentage) of (a)