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.

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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 means, with respect to any Lender at any time, such Lender’s Commitment at such time less the sum of (i) the aggregate principal amount of all Revolving Loans made by such Lender that are outstanding at such time and (ii) such Lender’s Letter of Credit Exposure at such time.

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.

• At the time that each Canadian Prime Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of C$500,000 and not less than C$500,000 (including any continuation or conversion of existing Loans made in connection therewith); provided that a Canadian Prime Borrowing may be in an aggregate amount that is equal to the Equivalent Amount in Canadian Dollars of the entire Unutilized Commitment, if less.

• From and after the Effective Date until the Termination Date (or such later date that the Loans are repaid), the Borrower agrees to pay Lender a non-usage fee for each calendar quarter, prorated for partial quarters, in an amount equal to the Applicable Percentage multiplied by the average daily Unutilized Commitment (the "Non-Usage Fee") multiplied by the number of days in such quarter or portion thereof and divided by 360.

• Such termination shall be effective, (x) with respect to such Lender’s Unutilized Commitment, on the date set forth in such notice, provided, however, that such date shall be no earlier than ten Business Days after receipt of such notice and (y) with respect to each Revolving Loan outstanding to such Lender, in the case of Base Rate Loans, on the date set forth in such notice and, in the case of LIBOR Loans, on the last day of the then current Interest Period relating to such LIBOR Loan.

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, at any time, with respect to any Lender, the excess of (a) such Lender’s Revolving Commitment at such time over (b) the sum of (i) the aggregate principal amount of outstanding Loans made by such Lender plus (ii) such Lender’s Revolving Facility Percentage of Letter of Credit Outstandings 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, 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 means, at any time for each Lender, such Lender’s Commitment less the sum of (i) the outstanding principal amount of Loans made by such Lender (ii) such Lender’s Swingline Exposure and (iii) such Lender’s Letter of Credit Exposure.

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.