Revolver Usage definition

Revolver Usage means, as of any date of determination, the sum of (a) the amount of outstanding Advances, plus (b) the amount of the Letter of Credit Usage.

Revolver Usage means, as of any date of determination, the amount of outstanding Advances.

Revolver Usage means, with respect to any day, the ratio (expressed as a percentage) of (a) the sum of (i) the Outstanding Amount of Revolving Credit Loans on such day and (ii) the Outstanding Amount of L/C Obligations on such day to (b) the Revolving Credit Commitments in effect on such day. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or considered usage of the Revolving Credit Commitments for purposes of determining “Revolver Usage”.

Examples of Revolver Usage in a sentence

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

• U.S. Availability: the U.S. Borrowing Base minus U.S. Revolver Usage.

• Subject to Section 2.1.5, if a U.S. Overadvance exists at any time, U.S. Borrowers shall, on the sooner of Agent’s demand or the first Business Day after any U.S. Borrower has knowledge thereof, repay U.S. Revolver Loans in an amount sufficient to reduce U.S. Revolver Usage to the U.S. Borrowing Base.

• U.S. Borrowers shall pay to Agent, for the Pro Rata benefit of U.S. Lenders, a fee equal to the Unused Line Fee Rate times the amount by which the U.S. Revolver Commitments exceed the average daily U.S. Revolver Usage during any calendar quarter.

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

More Definitions of Revolver Usage

Revolver Usage means the US Revolver Usage and/or the Canadian Revolver Usage, as the context requires.

Revolver Usage means, as of any date of determination, the sum of (a) the then extant amount of outstanding Advances, PLUS (b) the then extant amount of the Letter of Credit Usage.

Revolver Usage means, as of any date of determination, the amount of outstanding Revolving Loans (inclusive of Extraordinary Advances and Swingline Advances).

Revolver Usage the aggregate amount of outstanding Revolver Loans, plus the aggregate Stated Amount of outstanding Letters of Credit. Royalties: all royalties, fees, expense reimbursement and other amounts payable by Borrower under a License.

Revolver Usage means, as of any date of determination, the sum of (a) the amount of outstanding Revolving Loans (inclusive of Swing Loans and Extraordinary Advances), plus (b) the amount of Letter of Credit Usage.

Revolver Usage means, as of any date of determination, the sum of: (a) the US Borrower Revolver Usage, (b) the UK Borrower Revolver Usage, and (c) the PR Borrower Revolver Usage.

Revolver Usage the aggregate amount of outstanding Loans plus the Stated Amount of outstanding Letters of Credit.