Fleet Utilization Rate definition

Fleet Utilization Rate means the ratio expressed as a percentage of (i) the aggregate number of units of the Rental Fleet Assets of all the Credit Parties which are then hired out to customers or are pending pickups, in each case pursuant to valid and enforceable leases to (ii) the total number of units of Rental Fleet Assets owned or leased by the Credit Parties. For the avoidance of doubt, the Fleet Utilization Rate shall be calculated on the last business day of each Fiscal Quarter based (unless the Administrative Agent and the US Borrowers otherwise agree) on the business methodologies in effect as of the Closing Date.
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Fleet Utilization Rate means the average fleet utilization for the three consecutive fiscal months ending as determined on the last day of such fiscal quarter which shall be calculated as (i) the total horsepower of Lessee’s Eligible Gas Compressor Packages that is being furnished to a Person pursuant to services agreements, or other contractual arrangements in Lessee’s ordinary course of business, to (ii) the total sum of all idle, owned, and leased horsepower of Lessee’s
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Fleet Utilization Rate means the average fleet utilization for the three consecutive fiscal months ending as determined on the last day of such fiscal quarter which shall be calculated as (i) the total horsepower of Lessee’s Eligible Gas Compressor Packages that is being furnished to a Person pursuant to services agreements, or other contractual arrangements in Lessee’s ordinary course of business, to (ii) the total sum of all idle, owned, and leased horsepower of Lessee’s Eligible Gas Compressor Packages. As used herein, “Eligible Gas Compressor Packages” means gas compressor packages and related equipment, whether or not subject to this Lease, which in Lessor’s reasonable judgment are in good, undamaged condition and are not obsolete or otherwise unmarketable in the ordinary course of business as a result of age, type, category, quality and/or quantity.
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Examples of Fleet Utilization Rate in a sentence

  • Such Fleet Utilization Rate shall be first tested as of the Fiscal Quarter ending immediately prior to the date on which Total Excess Availability is first less than or equal to $30,000,000 for which financial statements are available and shall continue to be tested for each Fiscal Quarter thereafter until such Fiscal Quarter in which the Borrowers maintain Total Excess Availability on each day thereof of at least $30,000,000.


More Definitions of Fleet Utilization Rate

Fleet Utilization Rate means the average number of hours all SUPPLIER Vehicles are used each day as a percentage of 12 hours per day (the latter being the deemed number of hours each SUPPLIER Vehicle is typically available for booking).
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Related to Fleet Utilization Rate

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • Capacity Utilization Factor or “CUF” shall have the same meaning as provided in CERC (Terms and Conditions for Tariff determination from Renewable Energy Sources) Regulations, 2009 as amended from time to time; However, for avoidance of any doubt, it is clarified that the CUF shall be calculated on the Contracted Capacity; In any Contract Year, if ‘X’ MWh of energy has been metered out at the Delivery Point for ‘Y’ MW Project capacity, CUF= (X MWh/(Y MW*8766)) X100%; Declared CUF for this Project shall be % (to be revised as applicable).

  • Applicable Utilization Fee Rate means, as of any date, the percentage rate per annum at which Utilization Fees accrue on all Revolving Credit Advances at such time as set forth in the Pricing Schedule.

  • Capitation rate means the fee the department pays monthly to an HMO for each enrolled recipient for the provision of covered medical and health services whether or not the enrolled recipient received services during the month for which the fee is intended.

  • Utilization Fee Rate means the percentage set forth in Schedule 1 hereto beside the then applicable Level.