Utilization Level definition
Utilization Level means the applicable category (being Level I, Level II, Level III or Level IV) of pricing criteria contained in Schedule I, which is at any time of its determination based on the percentage obtained by dividing (a) the outstanding principal amount of the Advances and the Letter of Credit Exposure at such time by (b) the lesser of the Commitments and the Borrowing Base at such time.
Utilization Level means the applicable category (being Level I, Level II, Level III, Level IV or Level V) of pricing criteria contained in Schedule I, which is at any time of its determination based on the percentage obtained by dividing (a) the outstanding principal amount of the Advances and the Letter of Credit Exposure at such time by (b) the Commitments at such time.
Utilization Level means the applicable category (being ▇▇▇▇▇ ▇, ▇▇▇▇▇ ▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇ or Level V) of pricing criteria contained in Schedule II, which is at any time of its determination based on the Utilization.
Examples of Utilization Level in a sentence
If the Utilization Level is greater than or equal to 75% but less than 90%.
Level II: If the Utilization Level is greater than or equal to 25% but less than 50%.
Level III: If the Utilization Level is greater than or equal to 50% but less than 75%.
Level II: If the Utilization Level is greater than or equal to 50% but less than 75%.
If the Utilization Level is greater than or equal to 50% but less than 75%.
More Definitions of Utilization Level
Utilization Level means the applicable category (being Level I, Level II, Level III, Level IV or Level V) of pricing criteria contained in Schedule II, which is at any time of its determination based on the Utilization.
Utilization Level means the ratio of the outstanding principal amount of Loans to the total Commitments.
Utilization Level means, as of any date of determination, a fraction, expressed as a percentage, of which (x) the numerator shall be (i) the aggregate amount of Advances outstanding as of such date of determination plus (ii) the face amount of all undrawn Letters of Credit outstanding as of such date of determination and (b) the denominator shall be the Aggregate Borrowing Availability as of such date of determination.
Utilization Level means the applicable category (being Level I, Level II, Level III or Level IV) of pricing criteria contained in the Pricing Grid, which is based, at any time of its determination, on the percentage obtained by dividing (a) the outstanding principal amount of the Revolving Advances, the Swing Line Advances and the Letter of Credit Exposure at such time by (ii) the Borrowing Base in effect at such time. Solely for purposes of this definition and notwithstanding anything to the contrary contained herein, the Borrowing Base, as determined and redetermined pursuant to Section 2.02 below, shall be deemed to be in effect regardless of whether a BB Period is in effect.
Utilization Level means the applicable category of pricing criteria contained in the definition of Applicable Margin, which is based on, at any time of its determination, the percentage obtained by dividing (a) the sum of the Loan Balance and the L/C Exposure at such time by (b) the lesser of (i) the aggregate Commitments and (ii) the Borrowing Base at such time.
Utilization Level means the applicable category (being Level I, Level II, Level III or Level IV) of pricing criteria contained in the Pricing Grid, which is based, at any time of its determination, on the percentage obtained by dividing (a) the outstanding principal amount of the Advances and the Letter of Credit Exposure at such time by (ii) the Borrowing Base in effect at such time. Solely for purposes of this definition and notwithstanding anything to the contrary contained herein, the Borrowing Base, as determined and redetermined pursuant to Section 2.02 below, shall be deemed to be in effect regardless of whether a BB Period is in effect.
Utilization Level means the quotient, expressed as a percentage, of (i) the average dollar amount of the Revolving Exposure for the fiscal quarter then ended divided by (ii) the average dollar amount of the Commitments for the fiscal quarter then ended.