Annual Excess Cash Flow Recapture Sample Clauses

Annual Excess Cash Flow Recapture. For (a) the period ------ ------ ---- ---- --------- commencing on January 1, 2000 and ending on September 30, 2000, and (b) each fiscal year thereafter, for which Consolidated Excess Cash Flow exceeds $1,000,000, the Borrower shall make a prepayment of principal on the Term Loan in an amount equal to fifty percent (50%) of such Consolidated Excess Cash Flow, such mandatory prepayment to be due ninety (90) days after the end of each applicable fiscal year and to be applied against the remaining scheduled installments of principal due on the Term Loan on a pro rata basis. --- ----
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Annual Excess Cash Flow Recapture. For each fiscal year ending on or after December 31, 1999 for which the Borrowers have positive Consolidated Excess Cash Flow, the Domestic Borrowers shall prepay the principal of the Term Loans in an amount equal to seventy-five percent (75%) of such Consolidated Excess Cash Flow, provided that in the event that the Leverage Ratio as at the end of the applicable fiscal year, and as at the end of the fiscal quarter immediately preceding the date such payment is due is less than 4.25:1, only fifty percent (50%) of such Consolidated Excess Cash Flow shall be required to be utilized to prepay the Term Loans. Each such mandatory prepayment shall be due one hundred (100) days after the end of each applicable fiscal year and shall be applied pro rata to repayment of each of the Term Loans based on the then outstanding amounts of each of the Term Loans, provided, however, to the extent any holder of the Term Loan B elects not to accept such prepayments, such prepayments so declined shall be applied pro rata to the repayment of the Term Loan A. Such payments shall be applied against the remaining scheduled installments of principal due on the respective Term Loans pro rata. To the extent the Borrowers are required to make any payments pursuant to this ss.3.3.3 and such a payment would subject the Borrowers to certain costs under ss.5.10 associated with a prepayment of a Eurocurrency Rate Loan prior to the last day of an Interest Period with respect thereto, the Agent shall, if requested by the Company, hold such proceeds as cash collateral (and thereafter the Agent shall apply such cash collateral to the Obligations) until the earliest to occur of (a) the last day of the Interest Period with respect to such Eurocurrency Rate Loans, (b) the first date when such prepayment can be made without any costs being incurred pursuant to ss.5.10 and (c) the date when the Agent determines in its reasonable discretion that such amounts shall be used to repay all or any portion of the Term Loans.
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Annual Excess Cash Flow Recapture. In addition to the foregoing, --------------------------------- the Borrower agrees that on April 30, 1998 and on each April 30th thereafter during the term of this Agreement, the Borrower shall make a repayment of the principal of the Term Loan then outstanding in an amount equal to (i) seventy- five percent (75%) of Annual Excess Cash Flow for the Borrower's preceding fiscal year if the Leverage Ratio as of the end of such preceding fiscal year (but before giving effect to such repayment) is greater than or equal to 5.5:1, or (ii) fifty percent (50%) of Annual Excess Cash Flow for the Borrower's preceding fiscal year if the Leverage Ratio at the time of such payment (but before giving effect to such repayment) is less than 5.5:1, together, in any case, with accrued interest on the portion of the Term Loan so repaid. All amounts paid by the Borrower pursuant to this subsection in respect of the principal of the Term Loan shall be applied to such principal in inverse order of maturity.
Sample 1
Annual Excess Cash Flow Recapture. For each fiscal year of the Borrower ending on or after December 31, 1998 for which Consolidated Excess Cash Flow exceeds $500,000, the Borrower shall make a prepayment of principal on the Term Loans in an amount equal to fifty percent (50%) of such Consolidated Excess Cash Flow, such mandatory prepayment to be due one hundred twenty (120) days after the end of each applicable fiscal year and to be applied pro rata to each of the Term Loans based on the then outstanding amounts of each of the Term Loans and applied against the scheduled installments of principal due on the respective Term Loans on a pro rata basis.
Sample 1
Annual Excess Cash Flow Recapture. On or before the date 105 days after the end of each fiscal year commencing with the fiscal year of the Company ending December 31, 2000, the Company shall prepay the Term Loans in an amount equal to the lesser of (1) the Effective Amount of all Term Loans that have been, as of the end of such prior fiscal year, outstanding for one year or more, and (2) 50% of Excess Cash Flow for such fiscal year, as calculated based upon the financial data contained in the Company's financial statements for the fourth fiscal quarter of each fiscal year delivered pursuant to subsection 6.01(c)(ii) and the Compliance Certificate delivered with respect to that fiscal quarter pursuant to subsection 6.02(a). Mandatory prepayments of the Term Loans pursuant to this subsection made after the Revolving Termination Date shall be applied to the Scheduled Payments in the inverse order of their maturity.
Sample 1
Annual Excess Cash Flow Recapture. In addition to the foregoing, the Borrower agrees that commencing on April 30, 2000, and continuing on each April 30th thereafter, the Borrower shall make a repayment of the principal of the Loans then outstanding in an amount equal to fifty percent (50%) of the Borrower's Annual Excess Cash Flow for the Borrower's preceding fiscal year, together with accrued interest on the portion of the Loans so repaid. All amounts paid by the Borrower pursuant to this subsection shall be applied to the Loans then outstanding on a pro rata basis, and shall be applied pro rata to the remaining payments of the Term Loans required under Section 2.7(a) hereof and to the Revolving Loans to the remaining reductions in the Revolving Loans under Section 2.5(b)(ii) hereof on a pro rata basis for the remaining reductions under Section 2.5(b)(ii) hereof. Amounts applied to the Revolving Loans pursuant to this subsection shall also permanently reduce the Commitment by a corresponding amount (with such reduction to be applied on a pro rata basis to the remaining reductions in Section 2.5(b)(ii) hereof).
Sample 1
Annual Excess Cash Flow Recapture. For each fiscal year of the Borrower ending on or after December 31, 1998 in which the Leverage Ratio for the period of two consecutive fiscal quarters ending December 31 of such year is equal to or less than 1.50:1.00, the Borrower shall make a prepayment of principal on the Term Loan in an amount equal to fifty percent (50%) of Consolidated Excess Cash Flow for such fiscal year, such mandatory prepayment to be due one hundred twenty (120) days after the end of each applicable fiscal year and to be applied to the Term Loan based on the then outstanding amount of the Term Loan and applied against the scheduled installments of principal due on the Term Loan on a pro rata basis.
Sample 1
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Related to Annual Excess Cash Flow Recapture

  • Excess Cash Flow No later than ten (10) Business Days after the date on which the financial statements with respect to each fiscal year of Holdings ending on or after December 31, 2019 in which an Excess Cash Flow Period occurs are required to be delivered pursuant to Section 5.01(a) (each such date, an “ECF Payment Date”), the Borrower shall, if and to the extent Excess Cash Flow for such Excess Cash Flow Period exceeds $1,375,000, make prepayments of Term Loans in accordance with Section 2.10(h) and (i) in an aggregate amount equal to (A) the Applicable ECF Percentage of Excess Cash Flow for the Excess Cash Flow Period then ended (for the avoidance of doubt, including the $1,375,000 floor referenced above) (B) minus $1,375,000 minus (C) at the option of the Borrower, the aggregate principal amount of (x) any Term Loans, Incremental Term Loans, Revolving Loans or Incremental Revolving Loans (or, in each case, any Credit Agreement Refinancing Indebtedness in respect thereof), in each case prepaid pursuant to Section 2.10(a), Section 2.16(b)(B) or Section 10.02(e)(i) (or pursuant to the corresponding provisions of the documentation governing any such Credit Agreement Refinancing Indebtedness) (in the case of any prepayment of Revolving Loans and/or Incremental Revolving Loans, solely to the extent accompanied by a corresponding permanent reduction in the Revolving Commitment), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date) and (y) the amount of any reduction in the outstanding amount of any Term Loans or Incremental Term Loans resulting from any assignment made in accordance with Section 10.04(b)(vii) of this Agreement (or the corresponding provisions of any Credit Agreement Refinancing Indebtedness issued in exchange therefor), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date), and in the case of all such prepayments or buybacks, to the extent that (1) such prepayments or buybacks were financed with sources other than the proceeds of long-term Indebtedness (other than revolving Indebtedness to the extent intended to be repaid from operating cash flow) of Holdings or its Restricted Subsidiaries and (2) such prepayment or buybacks did not reduce the amount required to be prepaid pursuant to this Section 2.10(f) in any prior Excess Cash Flow Period (such payment, the “ECF Payment Amount”).

  • Consolidated Excess Cash Flow Subject to Section 2.14(g), if there shall be Consolidated Excess Cash Flow for any Fiscal Year beginning with the Fiscal Year ending December 31, 2018, the Borrowers shall, within ten Business Days of the date on which the Borrowers are required to deliver the financial statements of Holdings and its Restricted Subsidiaries pursuant to Section 5.1(b), prepay the Loans and/or certain other Obligations as set forth in Section 2.15(b) in an aggregate amount equal to (i) 50% of such Consolidated Excess Cash Flow minus (ii) voluntary prepayments of the Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) made during such Fiscal Year (excluding repayments of revolving First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) except to the extent the applicable revolving credit commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) (as opposed to the face amount thereof)); provided, if, as of the last day of the most recently ended Fiscal Year, the Consolidated Total Net Leverage Ratio (determined for such Fiscal Year by reference to the Compliance Certificate delivered pursuant to Section 5.1(c) calculating the Consolidated Total Net Leverage Ratio as of the last day of such Fiscal Year) shall be (A) less than or equal to 4.50:1.00 but greater than 4.00:1.00, the Borrowers shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to (1) 25% of such Consolidated Excess Cash Flow minus (2) voluntary repayments of the Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) made during such Fiscal Year (excluding repayments of revolving First Lien or Refinanced Debt (as defined in the First Lien Credit Agreement) except to the extent the applicable revolving credit commitments are permanently reduced in connection with such repayments) paid from Internally Generated Cash (provided that such reduction as a result of prepayments made pursuant to Section 10.6(k) shall be limited to the actual amount of cash used to prepay principal of Term Loans, First Lien Loans or Refinanced Debt (as defined in the First Lien Credit Agreement) (as opposed to the face amount thereof)) and (B) less than or equal to 4.00:1.00, the Borrowers shall not be required to make the prepayments and/or reductions otherwise required by this Section 2.14(e).

  • Excess Cash Borrower shall establish on the date hereof an Eligible Account with Lender or Lender’s agent into which Borrower shall deposit all Excess Cash on each Payment Date during the continuation of a Cash Sweep Period (the “Excess Cash Reserve Account”). Amounts so deposited shall hereinafter be referred to as the “

  • Property Cash Flow Allocation (a) During any Cash Management Period, all Rents deposited into the Deposit Account during the immediately preceding Interest Period shall be applied on each Payment Date as follows in the following order of priority:

  • Maximum Consolidated Capital Expenditures Holdings shall not, and shall not permit its Subsidiaries to, make or incur Consolidated Capital Expenditures, in any Fiscal Year, in an aggregate amount for Holdings and its Subsidiaries in excess of $125,000,000; provided, such amount for any Fiscal Year shall be increased by an amount equal to the excess, if any (but in no event more than $62,500,000), of such amount for the immediately preceding Fiscal Year (with the above scheduled amount for any Fiscal Year being used prior to any amount carried over from the preceding Fiscal Year) over the actual amount of Consolidated Capital Expenditures for such previous Fiscal Year; provided, further, so long as no Default shall have occurred and being continuing or would result therefrom, Holdings and its Subsidiaries may also make Consolidated Capital Expenditures in an amount not to exceed the Cumulative Growth Amount immediately prior to the making of such Consolidated Capital Expenditures (but the amount of Consolidated Capital Expenditures made from the Cumulative Growth Amount in any Fiscal Year shall not exceed 50% of the above scheduled amount of Consolidated Capital Expenditures that would have otherwise been permitted to made in such Fiscal Year pursuant to this Section 6.7(c)); and provided, further that for each Permitted Acquisition consummated in any Fiscal Year and, if consummated, the SDI Acquisition in the Fiscal Year ending December 31, 2011, the maximum amounts set forth above for such Fiscal Year and for every Fiscal Year thereafter shall be increased by an amount equal to 110% of the quotient obtained by dividing (A) the amount of Consolidated Capital Expenditures made by the acquired Person or business for the thirty-six month period immediately preceding the consummation of such Permitted Acquisition or SDI Acquisition as determined by the financial statements for such acquired Person or business by (B) three (3).

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.0. Compliance with the ratio will be tested as of the last day of each month, with Cash Flow and Interest Expense being calculated for the twelve months then ended.

  • Cash Flow Coverage The Borrower shall maintain at all times a Cash Flow Coverage of not less than one hundred twenty five percent (125%), calculated at the end of each fiscal quarter (using a rolling four quarters of Net Income).

  • Operating Cash Flow As used in this Agreement, “Operating Cash Flow” shall mean and be defined, for any fiscal period, as all cash receipts of the Partnership from whatever source (but excluding Capital Cash Flow and excluding the proceeds of any Capital Contributions to the Partnership) during such period in question in excess of all items of Partnership expense (other than non-cash expenses such as depreciation) and other cash needs of the Partnership, including, without limitation, amounts paid by the Partnership as principal on debts and advances, during such period, capital expenditures and any reserves (as determined by the Managing General Partner) established or increased during such period. Operating Cash Flow shall be distributed to or for the benefit of the Partners of record as of the applicable record date not less frequently than quarterly, and shall be allocated among the Partners as follows:

  • Net Cash Flow The term “Net Cash Flow” shall mean all cash and cash equivalents from all sources on hand as of the last day of the measurement period prior to any distributions to the Partners, and after the payment of all then due expenses of operating and managing the Restaurants, and after payment of all debts and liabilities and after any prepayments of any debts and liabilities that the General Partner, in its reasonable and good faith discretion, elects to cause to be made, and after the establishment of any reserves reasonably deemed necessary by the General Partner for (i) the repayment of any due debts or liabilities, including debts owed to the General Partner; (ii) the working capital requirements; (iii) capital improvements and replacement of furniture, fixtures or equipment; and (iv) any contingent or unforeseen liabilities. In determining Net Cash Flow of each Restaurant there shall be deducted the Supervision Fee and the Accounting Fee as provided in Section 4.7, the Advertising Payment and the Insurance Payment as provided in Section 4.8, and the OSRS Charges as provided in Section 4.2.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

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