Excess Cash Flow Prepayments. (a) Within five (5) Business Days after each delivery of a certificate from Comercial pursuant to Section 7.1(f), Comercial shall prepay the outstanding Loans in an amount equal to fifty percent (50%) of the sum of the Excess Cash Flow Amount as of the last day of the fiscal quarter to which such certificate applies and the Excess Cash Flow Amount as of the last day of the fiscal quarter immediately preceding such fiscal quarter, in each case calculated in constant Pesos as of the last day of the fiscal quarter of Comercial to which such certificate applies, each such prepayment, an "Excess Cash Flow Prepayment". Each Excess Cash Flow Prepayment shall be applied to the repayment of Loans pursuant to Sections 4.1(d) and (e). Prior to any such prepayment, the calculation of any Excess Cash Flow Prepayment shall be converted from Pesos into Dollars pursuant to a conversion rate in effect at the time such calculation is performed, and each Excess Cash Flow Prepayment shall be paid in Dollars.
(b) For the purposes of this Agreement, the term "Excess Cash Flow Amount" shall mean, as of the last day of any fiscal quarter of Comercial, Combined Operating Cash Flow for the twelve-month period ending on the last day of such fiscal quarter plus or minus working capital (as defined under GAAP), plus or minus gross interest expense (as defined under GAAP), plus or minus taxes, plus or minus Consolidated Capital Expenditures, plus or minus any permitted dividends paid by Comercial or Vitrocrisa during such period, plus or minus mandatory prepayments or repayments paid during such period with respect to the Obligations (including any Excess Cash Flow Prepayments previously paid) and any other permitted Indebtedness incurred pursuant to Section 8.3 including any such permitted Indebtedness owing to Affiliates, plus or minus Other Transactions to the extent not otherwise included in any of the foregoing, plus or minus statutory profit sharing for employees under Mexican law (PTU) for such period to the extent not otherwise included in taxes, plus any cash balances, minus the equivalent in Pesos of U.S.$2,000,000, based on a conversion rate in effect at the time such Excess Cash Flow Amount is calculated, minus restricted cash held in the Debt Reserve Account (as defined in the Security Agreement) and, minus restricted cash held in the Vitrocrisa Comercial Collection Account to the extent required to pay debt service for the next quarter; provided, that the foregoing shall ...
Excess Cash Flow Prepayments. Not later than 90 days after the end of each fiscal year (commencing with the fiscal year ending on December 31, 2010), the Borrower shall calculate Excess Cash Flow for such fiscal year and an amount equal to the amount by which (A) 50% of such Excess Cash Flow exceeds (B)(x) the aggregate principal amount of voluntary prepayments of Loans pursuant to Section 2.09(a) during such fiscal year, plus (y) in the case of the fiscal year ending on December 31, 2010, the aggregate principal amount of any Early Excess Cash Flow Prepayments made pursuant to Section 2.09(d) on or prior to 90 days after the end of such fiscal year, shall be applied to prepay Loans in accordance with Section 2.09(h) (each such payment, an “Excess Cash Flow Prepayment”); provided, that if the amount in clause (B) exceeds the amount in clause (A), no such prepayment of Loans shall be required.
Excess Cash Flow Prepayments. Following the Completion of the Improvements, and payment in full of the Mortgage Loans and provided no Event of Default is continuing, all Rents and other Gross Revenue remaining in the Mezzanine Loan Collection Account after the payment of Debt Service and debt service on the Second Mezzanine Loan, required deposits to the Funds and Operating Expenses shall be applied on each Monthly Payment Date to the reduction of the outstanding principal balance of the Loan and the Second Mezzanine Loan, pro rata in accordance with the respective pro rata shares of Lender and Second Mezzanine Lender, or if the Loan and the Second Mezzanine Loan have been paid in full, in accordance with the provisions of Article 11 of the Second Mezzanine Loan Agreement.
Excess Cash Flow Prepayments. (a) of the Credit Agreement is deleted in its entirety and replaced with the following:
Excess Cash Flow Prepayments. Notwithstanding anything to the contrary set forth in this Agreement, in addition to the scheduled repayments of principal set forth in Section 2.1.2
Excess Cash Flow Prepayments. On the first day of January, April, July and October in each year, commencing July 1, 2000, the Company shall pay to the holders of the Notes an aggregate amount equal to the Noteholder Portion of 50% of Excess Cash Flow (if positive) for the immediately preceding fiscal quarter of the Company (the preceding six months with respect to the July 1, 2000 payment), which shall be applied to the prepayment of the Notes together with accrued interest thereon to the date of such prepayment and the Make-Whole Amount in respect of such principal amount of Notes.
Excess Cash Flow Prepayments. Within sixty (60) days following receipt by FINOVA of the annual audited financial statements of DSI and its subsidiaries, commencing with such financial statements for the fiscal year ending September 30, 1998, FINOVA may deliver a notice to Borrowers requiring Borrowers jointly and severally to prepay a Term Loan in an amount up to the lesser of fifty percent (50%) of Borrower's Excess Cash Flow for such year or the amount by which the Borrowers' average daily Excess Availability for the thirty (30) days preceding the date of FINOXX'x xotice exceeded $750,000. Any prepayments required under this section are strictly at the sole option of FINOVA, and are payable with thirty (30) days following the date of demand by FINOVA. All amounts paid pursuant to this section shall be applied to the principal installments of the Term Loans pro rata in the inverse order of maturity. No Termination Fee shall be applied to any payments made under this Section. _______________________________________________________________________________ [Signatures Follow]
Excess Cash Flow Prepayments. Commencing on April 30, 1999 and on the last day of April of each year thereafter, in the event that the Leverage Ratio determined as at the end of the fiscal year next preceding such date is 3.00 to 1.00 or greater, the Parent shall, or shall cause its Subsidiaries to, prepay the principal balance of the Norwegian Term A Loan, the Dutch Term A Loan and the Dutch Term B Loan to the Agent for the accounts of the applicable Banks in an amount equal to 50% of the aggregate amount of consolidated Excess Cash Flow of the Parent and its Subsidiaries for the immediately preceding fiscal year or, in the case of the payment due on April 30, 1999, for the period commencing on the Closing Date through December 31, 1998.
Excess Cash Flow Prepayments. Within five (5) Business Days after each delivery of a certificate from Comercial pursuant to Section 7.1(f), Comercial shall make an Excess Cash Flow Prepayment of the outstanding Loans in an amount required by Section 7.20. Each Excess Cash Flow Prepayment shall be applied to the repayment of Loans pursuant to Sections 4.1(d) and (e). Each Excess Cash Flow Prepayment shall be paid in Dollars.
Excess Cash Flow Prepayments. 48 Section 8. Negative Covenants........................................49 8.1 Liens.....................................................49 8.2 Dividends.................................................50 8.3 Indebtedness..............................................51 8.4 Investments...............................................51 8.5 Consolidations, Mergers...................................52 8.6 Sales of Assets...........................................53 8.7 Consolidated Interest Coverage Ratio......................54 8.8 Consolidated Leverage Ratio...............................54 8.9 Net Worth.................................................54 8.10 Limitations on Modifications of Certain Agreements; etc...........................................54
