Facility Usage definition

Facility Usage means, at the time in question, the aggregate amount of outstanding Loans and LC Obligations at such time.

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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.

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.

Examples of Facility Usage in a sentence

• If the Facility Usage exceeds the Aggregate Borrowing Base (“Overadvance”) at any time, the excess amount shall be payable by Borrowers on demand by Agent, but all such Revolver Loans, FILO Loans and LC Obligations shall nevertheless constitute Obligations secured by the Collateral and entitled to all benefits of the Credit Documents.

• Notwithstanding anything herein to the contrary, if an Overadvance exists, Borrowers shall, on the sooner of Agent’s demand or the first Business Day after any Borrower has knowledge thereof, repay the outstanding Loans in an amount sufficient to reduce Facility Usage to the Aggregate Borrowing Base; provided that, no prepayments of FILO Loans may be made unless all outstanding Revolver Loans have been repaid in full.

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 at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

Facility Usage means, at the time in question, the aggregate principal amount of outstanding Loans 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 Available Amount of outstanding Letters of Credit.

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 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 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.