Common use of Clean Down Clause in Contracts

Clean Down. If as of the last day of any fiscal quarter, any Revolving Credit Loans or Swing Line Loans are outstanding and Consolidated EBITDA for the most recent period of four consecutive fiscal quarters for which Required Financial Statements have been delivered is less than $110,000,000, the Borrowers shall (i) not borrow any additional Revolving Credit Loans or Swing Line Loans during the next succeeding fiscal month of July and (ii) repay all outstanding Revolving Credit Loans and Swing Line Loans for a period of not less than 30 consecutive calendar days between the following September 1 and November 30.

Appears in 3 contracts

Samples: Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.)

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Clean Down. If as of the last day of any fiscal quarterFiscal Quarter, any Revolving Credit Loans or Swing Line Loans are outstanding and Consolidated EBITDA for the most recent period of four consecutive fiscal quarters for which Required Financial Statements have been delivered recently ended Measurement Period is less than $110,000,000, the Borrowers shall (i) not borrow any additional Revolving Credit Loans or Swing Line Loans during the next succeeding fiscal month Fiscal Month of July and (ii) repay all outstanding Revolving Credit Loans and Swing Line Loans for a period of not less than 30 consecutive calendar days between the following September 1 and November 30.

Appears in 2 contracts

Samples: Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.)

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Clean Down. If as of the last day of any fiscal Fiscal Quarterfiscal quarter, any Revolving Credit Loans or Swing Line Loans are outstanding and Consolidated EBITDA for the most recent recently ended Measurement Periodrecent period of four consecutive fiscal quarters for which Required Financial Statements have been delivered is less than $110,000,000, the Borrowers shall (i) not borrow any additional Revolving Credit Loans or Swing Line Loans during the next succeeding fiscal Fiscal Monthfiscal month of July and (ii) repay all outstanding Revolving Credit Loans and Swing Line Loans for a period of not less than 30 consecutive calendar days between the following September 1 and November 30.

Appears in 1 contract

Samples: Credit Agreement (Leslie's, Inc.)

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