1. 
[syn: use, usage, utilization, utilisation, employment, exercise]
2.  the state of having been made use of; 
- Example: "the rate of utilization"
The Collaborative International Dictionary of English v.0.48:
Utilization \U`til*i*za"tion\, n. [Cf. F. utilization.]
   The act of utilizing, or the state of being utilized.
   [1913 Webster]
WordNet (r) 3.0 (2006):
utilization
    n 1: the act of using; "he warned against the use of narcotic
         drugs"; "skilled in the utilization of computers" [syn:
         use, usage, utilization, utilisation, employment,
         exercise]
    2: the state of having been made use of; "the rate of
       utilization"