Commitment Usage definition

Commitment Usage means, at the time of any determination thereof, the sum of (a) the Principal Debt plus, without duplication, (b) the LC Exposure.
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Commitment Usage means, at any time, the sum of (a) the Total Principal Debt plus (b) the LC Exposure.
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Commitment Usage means, at any time, for each Lender, its Facility Commitment Usage.
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Examples of Commitment Usage in a sentence

  • Borrower shall pay to Administrative Agent for the account of each Revolver Lender in accordance with its Commitment Percentage, a commitment fee equal to the Applicable Percentage times the daily amount by which the Revolver Commitment exceeds the Revolver Commitment Usage (excluding from Revolver Commitment Usage, for the purposes hereof, the outstanding principal balance of Swing Line Loans).

  • Borrower shall not terminate or reduce the Revolver Commitment if, after giving effect thereto and to any concurrent prepayments hereunder, the Revolver Commitment Usage would exceed the Revolver Commitment.

  • If any Lender obtains any amount (whether voluntary, involuntary or otherwise, including, without limitation, as a result of exercising its Rights under Section 3.13) that exceeds its combined Pro Rata Part of the Facility Commitment Usage, then that Lender shall purchase from the other Lenders participations that will cause the purchasing Lender to share the excess amount ratably with each other Lender.

  • On any date of determination, if the Commitment Usage under the First Western Revolving Facility exceeds the First Western Commitment then in effect, then First Western shall make a mandatory prepayment of the Principal Debt under the First Western Revolving Facility in at least the amount of any such excess, together with (x) all accrued and unpaid interest on the principal amount so prepaid and (y) any Consequential Loss arising as a result thereof.

  • Borrower shall not terminate or reduce the Total Commitment if, after giving effect thereto and to any concurrent prepayments hereunder, the Commitment Usage would exceed the Total Commitment.


More Definitions of Commitment Usage

Commitment Usage means, at the time of any determination thereof, the aggregate Principal Debt plus all Letter of Credit Liabilities.
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Commitment Usage means, at any time, the sum of (a) the Principal Debt (which includes, without limitation, that Principal Debt under the Swing-Line Subfacility) plus (b) the LC Exposure.
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Commitment Usage means, at the time of any determination thereof, the aggregate Principal Debt.
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Commitment Usage means, at the time of any determination thereof, the aggregate Principal Debt. “Commitments” means, collectively, the PMC Commitment and the First Western Commitment.
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Commitment Usage means, at any time, (i) with respect to any Lender, the sum of (A) the aggregate unpaid principal amount of all Advances made by such Lender, plus (B) the Lender's pro rata share of all Letter of Credit Liability, plus (C) the Lender's pro rata share of the Interest Reserve or (ii) with respect to all Lenders, the sum of (A) the aggregate unpaid principal amount of all Advances made by all Lenders, plus (B) all Letter of Credit Liability, plus (C) the Interest Reserve, in each case, giving effect to the Borrowings then requested.
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Commitment Usage means the Total Principal Debt (other than the Principal Debt of all outstanding Swing Line Loans); provided that, for purposes of calculating the fees payable to Administrative Agent, for its own account, under Section 3.19(c)(ii), the amount of outstanding Swing Line Loans shall be included in Administrative Agent's Commitment Usage.
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Commitment Usage. “Committed Sum,” “Facility Committed Sum,” “Majority Lenders” or “Facility Maturity Date”; (iv) increase or decrease any one or more Lenders’ Committed Sums except as provided in this Agreement; (v) except as permitted by Section 9.10, consent to the release of all or substantially all of the Collateral under the Security Documents or the release of any Guarantor from its obligations under any Guaranty or the value thereof; (vi) change the provisions of Section 13 to the detriment of any Lender; (vii) change any provision requiring ratable distributions to Lenders or change the waterfall set forth in Section 3.11; (viii) subject any Lender to a greater obligation than expressly provided in this Agreement; (ix) change this clause (b) or any other matter specifically requiring the consent of all Lenders under this Agreement; or (x) subordinate any Obligations to any other Debt.
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