Facility Usage means, at the time in question, the aggregate amount of outstanding Loans and LC Obligations at such time.
Facility Usage means, at any time, without duplication, the sum of (a) the amount of Advances outstanding at such time and (b) the aggregate amount available at such time to be drawn under outstanding Letters of Credit (in each case assuming the occurrence of, and compliance with, all conditions referred to therein).
Facility Usage means, at the time in question, the aggregate outstanding principal amount of all Loans of all Lenders plus all Letter of Credit Outstandings of all Issuers.
Examples of Facility Usage in a sentence
If at any time the Facility Usage exceeds the Aggregate Commitment (whether due to a reduction in the Aggregate Commitment in accordance with this Agreement or otherwise), the Borrower shall immediately upon demand prepay the principal of the Loans (and after all of the Loans are repaid in full, provide Cash Collateral in accordance with Section 2.14) in an amount at least equal to such excess.
More Definitions of Facility Usage
Facility Usage means, at the time in question, the aggregate amount of outstanding Loans at such time.
Facility Usage means, as of any day, the quotient, expressed as a percentage, of (a) Total Credit Exposure on such day divided by (b) the Borrowing Base in effect on such day.
Facility Usage means the percentage of the Revolving Credit Facility in use as measured by the (a) the sum of (i) the Outstanding Amount of Revolving Credit Loans, (ii) the Outstanding Amount of L/C Obligations, and (iii) the Outstanding Amount of Swing Line Loans, over (b) the Revolving Credit Facility.
Facility Usage as of any date of determination, the sum of (a) the aggregate principal amount of all Revolver Loans and FILO Loans plus (b) the aggregate amount of all LC Obligations described in clauses (a) and (b) of the definition thereof, in each case, outstanding on such date.
Facility Usage means, at any time, an amount equal to the sum of (i) the aggregate principal amount of all Syndicated Advances denominated in Dollars and the Dollar Amount of all Syndicated Advances denominated in Agreed Currencies other than Dollars outstanding at such time, (ii) the aggregate principal amount of all Competitive Bid Advances denominated in Dollars and the Dollar Amount of all Competitive Bid Advances denominated in Agreed Currencies other than Dollars outstanding at such time and (iii) the aggregate amount of all L/C Obligations outstanding at such time.
Facility Usage means a fraction, calculated as of the last day of each Fiscal Quarter, the numerator of which is equal to the average daily Total Utilization of Commitments during such Fiscal Quarter, and the denominator of which is equal to the average daily aggregate Commitments for all Lenders during such Fiscal Quarter.
Facility Usage means, at the time in question, the aggregate amount of outstanding Loans and LC Obligations at such time. “FASB ASC” means the Accounting Standards Codification of the Financial Accounting Standards Board.