Additional and Amended Definitions. As used in this Annex:--
Additional and Amended Definitions. Section 1.1 of the Loan ---------------------------------- Agreement is hereby amended to add the following defined terms thereto:
Additional and Amended Definitions. The following definitions of “AAR-GS 737 Classics Leasing LLC Joint Venture” and “AAR-GS 737 Classics Leasing LLC Joint Venture Debt Documents” are hereby inserted into Section 1.1 of the Credit Agreement; the definition of “Borrowing Base” contained in Section 1.1 of the Credit Agreement is hereby deleted and the following is inserted in its stead.
Additional and Amended Definitions. The following definitions of "Eighth Amendment," "Eighth Amendment Effective Date" and "Excess Cash Flow" are hereby inserted in Appendix A to the Loan Agreement; the definitions of "Applicable Margin," "Maximum Revolving Loan" and "Total Credit Facility" are hereby deleted from Appendix A and the following are inserted in their stead:
Additional and Amended Definitions. The definitions of “Net Orderly Liquidation Value” and “Seventh Amendment Effective Date” are hereby inserted into Appendix A to the Loan Agreement. On the Seventh Amendment Effective Date, the definitions of “Applicable Margin,” “Availability Block,” “Canadian Borrowing Base,” “U.K. Borrower,” “U.K. Borrowing Base,” “U.K. Loan Parties” and “U.S. Borrowing Base” are hereby deleted and the following is inserted in their stead. “Applicable Margin” -
(a) U.K. and Canadian Loans. With respect to Revolving Credit Loans to U.K. Borrower in Sterling and Euros, to Revolving Credit Loans to Canadian Borrower in Canadian Dollars and the issuance of Canadian Letters of Credit or Canadian LC Guaranties or U.K. Letters of Credit or U.K. LC Guaranties, from the Closing Date to, but not including, the first Adjustment Date (as hereinafter defined) the percentages set forth below with respect to the Base Rate Revolving Portion, Canadian Prime Loans, the LIBOR Revolving Portion, Canadian BA Rate Loans and the Letter of Credit and LC Guaranty Fees: Base Rate Revolving Portion or Canadian Prime Loans 2.75% LIBOR Revolving Portion or Canadian BA Rate Loans 2.75% LC Fee 2.50% The percentages set forth above will be adjusted on the first day of the month following delivery by Borrowers to Agent of the financial statements required to be delivered pursuant to subsection 7.1.3(ii) of the Agreement for each March 31, June 30, September 30 and December 31 during the Term, commencing with the month ending March 31, 2007 (each such date an “Adjustment Date”), effective prospectively, by reference to the applicable “Financial Measurement” (as defined below) for the four quarters most recently ending in accordance with the following: > 3.5 to 1 2.50% 2.50% 2.25% > 2.5 to 1, but < 3.5 to 1 2.25% 2.25% 2.00% > 2.0 to 1, but <2.5 to 1 2.00% 2.00% 1.75% > 1.5 to 1, but < 2.0 to 1 1.75% 1.75% 1.50% < 1.5 to 1 1.50% 1.50% 1.25% provided that, (i) if Katy’s audited financial statements for any fiscal year delivered pursuant to subsection 7.1.3(i) of the Agreement reflect a Financial Measurement that yields a higher Applicable Margin than that yielded by the monthly financial statements previously delivered pursuant to subsection 7.1.3(ii) of the Agreement for the last month of such fiscal year, the Applicable Margin shall be readjusted retroactively for the period that was incorrectly calculated and (ii) if Borrowers fail to deliver the financial statements required to be delivered pursuant t...
Additional and Amended Definitions. Section 1.1 of each of the Note Purchase Agreements is hereby amended by adding or amending, as applicable, the following definitions:
Additional and Amended Definitions. The following definitions of "Overline," "Overline Commitment," "Overline Percentage," "Seventh Amendment" and "Seventh Amendment Effective Date" are hereby inserted in Appendix A to the Loan Agreement; the definition of "Borrowing Base" is hereby deleted from Appendix A and the following is inserted in its stead: "Borrowing Base—as at any date of determination thereof, an amount equal to the lesser of:
(i) the Maximum Revolving Loan at such date; or
(ii) an amount equal to:
(a) up to eighty-five percent (85%) of the net amount of Eligible Accounts outstanding at such date;
(b) the lesser of (1) the Maximum Inventory Amount, or (2) the Effective Inventory Advance Rate multiplied by the value of Eligible Inventory (other than Apparatus Eligible Inventory) at such date calculated on the basis of the lower of cost or market with the cost of raw materials and finished goods calculated on a first-in, first-out basis; MINUS (subtract from the lesser of (i) or (ii) above)
(iii) an amount equal to the sum of (a) any amount which Agent reasonably expects it may be obligated to pay in the future for the account of Borrower, plus (b) the amount of any reserve established by Agent pursuant to Section 1.1.1, plus (c) the LC Amount. For purposes of this Agreement (x) the amount determined by subtracting (iii) from (i) above is hereinafter referred to as the "Maximum Revolving Loan Borrowing Base" and
(y) the amount determined by subtracting (iii) from (ii) above is hereinafter referred to as the "Collateral Borrowing Base." For purposes hereof, the net amount of Eligible Accounts at any time shall be the face amount of such Eligible Accounts less, to the extent not already deducted in the calculation of Eligible Accounts, any and all returns, rebates, discounts (which may, at Agent's option, be calculated on shortest terms), credits, allowances or excise taxes of any nature at any time issued, owing, claimed by Account Debtors, granted, outstanding or payable in connection with such Accounts at such time. Further, the value of Eligible Inventory shall be adjusted as of each date of calculation to reflect decreases in the Comex market price of copper as reported on the London Metals Exchange, but only to the extent that such decrease would result in a value less than current book value. Overline—as defined in Section 1.1.1(D) of the Loan Agreement.
Additional and Amended Definitions. The definitions of "Availability Block" and "Third Amendment Effective Date" are hereby inserted into Appendix A to the Loan Agreement. The definition of "U.S. Borrowing Base" is hereby deleted and the following is inserted in its stead. "Availability Block - $5,000,000 from the Third Amendment Effective Date until September 29, 2005, $7,500,000 from September 30, 2005 until the date on which Borrowers have delivered to Agent the financial statements for the period ending March 31, 2006 and $0 thereafter. * * * Third Amendment Effective Date - as defined in Section 8 of the Third Amendment. * * *
Additional and Amended Definitions. The following definitions of “Thirteenth Amendment” and “Thirteenth Amendment Effective Date” are hereby inserted into Exhibit A to the Loan Agreement. The definitions of “Applicable Margin,” “Maximum Revolving Loan” and “Total Credit Facility” are hereby deleted from Exhibit A to the Loan Agreement and the following are restated in their stead: “Applicable Margin– from the Thirteenth Amendment Effective Date to, but not including, the first Adjustment Date (as hereinafter defined) the percentages set forth below with respect to the Base Rate Revolving Credit Portion, the LIBOR Revolving Credit Portion and the Unused Line Fee: Base Rate Revolving Credit Portion 0% LIBOR Revolving Credit Portion 1.00% Unused Line Fee 0.20% The percentages set forth above will be adjusted on the first day of the month following delivery by Borrower to Agent of the financial statements required to be delivered pursuant to subsection 8.1.3(ii) of the Agreement for each December 31, March 31, June 30 and September 30 during the Term, commencing with the month ending September 30, 2007 (each such date an “Adjustment Date”), effective prospectively, by reference to the applicable “Financial Measurement” (as defined below) for the four quarters most recently ending in accordance with the following: > 1.25 to 1 0% 1.50% 0.25% < 1.25 to 1, but> 0.75 to 1 0% 1.25% 0.225% < 0.75 to 1 0% 1.00% 0.20% provided that, (i) if Borrower’s audited financial statements for any fiscal year delivered pursuant to subsection 8.1.3(i) of the Agreement reflect a Financial Measurement that yields a higher Applicable Margin than that yielded by the financial statements previously delivered pursuant to subsection 8.1.3(ii) of the Agreement for such fiscal year, the Applicable Margin shall be readjusted retroactively for the period that was incorrectly calculated and (ii) if Borrower fails to deliver the financial statements required to be delivered pursuant to subsection 8.1.3(i) or subsection 8.1.3(ii) of the Agreement on or before the due date thereof, the interest rate shall automatically adjust to the highest interest rate set forth above, effective prospectively from such due date until that date on which such financial statements are so delivered to Agent. For purposes hereof, “Financial Measurement” shall mean the Debt to EBITDA Ratio. Maximum Revolving Loan– Seventy-Five Million Dollars ($75,000,000).
Additional and Amended Definitions. The definition of “Sixth Amendment Effective Date” is hereby inserted into Appendix A to the Loan Agreement. The definition of “Availability Block” is hereby deleted and the following is inserted in its stead. “Availability Block — $5,000,000 from the Sixth Amendment Effective Date until September 29, 2006, $7,500,000 from September 30, 2006 until the date on which Borrowers have delivered to Agent the financial statements for the period ending March 31, 2007 and $0 thereafter. Sixth Amendment Effective Date — as defined in Section 5 of the Sixth Amendment.”
