Unutilized Commitment definition

Unutilized Commitment means, with respect to any Lender at any time, such Lender's Commitment at such time less the aggregate principal amount of all Loans made by such Lender that are outstanding at such time.

Unutilized Commitment means, for any Bank, at any time, the Commitment of such Bank at such time less the aggregate principal amount of all Loans made by such Bank and then outstanding.

Unutilized Commitment for any Lender at any time shall mean the excess of (i) the Revolving Commitment of such Lender over (ii) the sum of (x) the aggregate outstanding principal amount of Revolving Loans made by such Lender plus (y) an amount equal to such Lender’s Revolving Percentage, if any, of the Letter of Credit Outstandings at such time; provided that solely for purposes of calculating the Commitment Fee pursuant to Section 4.1(a), Swingline Loans shall be deemed not to be outstanding.

Examples of Unutilized Commitment in a sentence

• Notwithstanding anything to the contrary contained herein, the aggregate principal amount of each Borrowing shall not be less than $1,000,000 or, if greater, an integral multiple of $500,000 in excess thereof (or, if less, in the amount of the Unutilized Commitment).

• Upon at least five Business Days' prior notice to the Bank at its Notice Office, any Borrower (with the unanimous consent of each Borrower hereunder) shall have the right, without premium or penalty, to terminate the Unutilized Commitment in whole or in part, in integral multiples of $5,000,000.

• Response: The District has made significant progress on all aspects of the Scope of Work and has complied with the Technical Assistance Grant Award.

• Subject to Section 2.14, the Borrower agrees to pay to the Facility Agent, for the account of each Lender, a commitment commission (the “Commitment Fee”) computed on the Unutilized Commitment of such Lender, from time to time, at a rate per annum equal to forty percent (40%) of the Applicable Margin then in effect.

• The Bank agrees, upon satisfaction of the conditions set forth in this Section 2.10(b), to increase the Stated Amount of the Letter of Credit from time to time prior to the Commitment Expiration Date by an amount not to exceed the Unutilized Commitment.

More Definitions of Unutilized Commitment

Unutilized Commitment with respect to any Lender at any time, an amount equal to the remainder of (x) such Lender’s Commitment as in effect at such time less (y) such Lender’s Individual Lender Exposure at such time (excluding any Swingline Exposure of such Lender).

Unutilized Commitment means, at any time, (i) the Commitment at such time less (ii) the aggregate principal amount of Loans outstanding at such time.

Unutilized Commitment means, for any Lender at any time, the excess of (i) such Lender’s Facility Commitment at such time over (ii) such Lender’s Credit Facility Exposure at such time.

Unutilized Commitment for any Lender at any time shall mean the excess of (i) such Lender's Commitment at such time over (ii) the sum of the principal amount of Loans made by such Lender and outstanding at such time and (y) such Lender's Percentage of Letter of Credit Outstandings at such time.

Unutilized Commitment means, at the time of determination, the amount by which (a) the lesser of (i) the amount of the Borrowing Base as then in effect at such time or (ii) the amount of the aggregate Commitments at such time, exceeds (b) the amount of the aggregate Credit Exposure of the Lenders at such time.

Unutilized Commitment for any Bank at any time means, on and after the Closing Date, the unutilized Revolving Loan Commitment of such Bank, after taking into effect the Letters of Credit Usage.

Unutilized Commitment means, with respect to any Revolving Lender at any time, such Lender’s Unutilized Dollar Revolving Commitment or Unutilized Multicurrency Revolving Commitment, or both, as the context may require.