Maximum number of Utilisations Clause Samples
The 'Maximum number of Utilisations' clause sets a limit on how many times a borrower can draw down or access funds under a loan agreement. In practice, this means the borrower may only request disbursements up to a specified number of times, regardless of the total loan amount available. For example, if the maximum is set at five utilisations, the borrower can only make five separate requests for funds. This clause helps lenders manage risk and administrative workload by preventing excessive or frequent drawdowns, ensuring the loan is used in a controlled and predictable manner.
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Maximum number of Utilisations. The Borrower may not deliver a Utilisation Request if, as a result of the proposed Utilisation, more than 3 Letters of Credit would be outstanding.
Maximum number of Utilisations. The Company may not deliver a Utilisation Request if, as a result of the proposed Utilisation, more than ten Loans (other than any Loan constituted by a Settlement Utilisation) would be outstanding.
Maximum number of Utilisations. (a) A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation 26 or more Revolving Facility A Utilisations or 26 or more Revolving Facility B Utilisations would be outstanding.
(b) Any Loan made by a single Lender under Clause 10.2 (Unavailability of a currency) shall not be taken into account in this Clause 4.4.
(c) Any Separate Loan shall not be taken into account in this Clause 4.4.
Maximum number of Utilisations. A Borrower may not deliver a Utilisation Request under a Facility if as a result of the proposed Utilisation, more than one Loan would be outstanding under that Facility.
Maximum number of Utilisations. (a) The Borrower may not deliver more than one Utilisation Request.
(b) The Borrower may not request that the Loan be divided.
Maximum number of Utilisations. (a) A Borrower may not deliver a Utilisation Request under the Revolving Credit Facility if as a result of the proposed Utilisation 10 or more Revolving Credit Facility Loans would be outstanding.
(b) A Borrower may not request that a Term Loan Facility Loan be divided.
Maximum number of Utilisations. (a) A Borrower may deliver more than one Utilisation Request under a Facility on any one day.
(b) A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation more than 10 Facility A Loans in respect of Facility A, 10 Facility B Loans in respect of Facility B, 10 Facility C Loans in respect of Facility C, or 10 Facility D Loans in respect of Facility D would be outstanding.
(c) A Borrower may not request that a Loan be divided if, as a result of the proposed division, in respect of Facility A more than 10 Facility A Loans, in respect of Facility B more than 10 Facility B Loans, in respect of Facility C more than 10 Facility C Loans or in respect of Facility D more than 10 Facility D Loans would be outstanding.
(d) Any Loan made by a single Lender under Clause 6.2 (Unavailability of the Optional Currency) shall not be taken into account in this Clause 4.5.
Maximum number of Utilisations. (a) A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation:
(i) more than 6 Facility A Loans would be outstanding;
(ii) more than 6 Facility B Loans would be outstanding; or
(iii) more than 10 Letters of Credit and Bank Guarantees would be outstanding.
(b) A Borrower may not request that a Facility A Loan be divided if, as a result of the proposed division, more than 6 Facility A Loans would be outstanding.
(c) Any Loan made by a single Lender under Clause 8.2 (Unavailability of a currency) shall not be taken into account in this Clause 4.4.
Maximum number of Utilisations. (a) A Borrower (or the Company) may not deliver a Utilisation Request if, as a result of the proposed Utilisation more than:
(i) thirty (30) Facility B Loans (or such higher number as may be agreed by the Company and the Agent) would be outstanding; or
(ii) twelve (12) Original Revolving Facility Loans (or such higher number as may be agreed by the Company and the Agent) would be outstanding,
(b) Any Loan which is a Separate Loan shall not be taken into account in this Clause 4.4.
Maximum number of Utilisations. (a) A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation:
(i) more than one Term Loan (other than a Term Loan made available pursuant to Clause 2.2 (Increase)) would be outstanding; or
(ii) more than two Term Facilities made available pursuant to Clause 2.2 (Increase) would be outstanding;
(iii) (in respect of any specific Permitted Acquisition funded by a Term Facility made available pursuant to Clause 2.2 (Increase)) more than two Utilisations would be made available to fund such Permitted Acquisition; or
(iv) more than twelve Revolving Facility Loans would be outstanding.
(b) A Borrower (or the Company) may not request that the Term Loan be divided if, as a result of the proposed division, more than two Term Loans would be outstanding.