Excess Cash Flow Recapture. Section 6.d. of the Agreement is amended in its entirety to read as follows:
Excess Cash Flow Recapture. Within three (3) Business days of receipt of quarterly SEC financial statements for each fiscal quarter during which Advances are outstanding, Borrowers shall pay to Bank an amount equal to seventy five percent (75%) of their Excess Cash Flow for the immediately preceding fiscal quarter. This Excess Cash Flow payment will be allocated to reduce the amount of outstanding Advances.
Excess Cash Flow Recapture. Annually, within 30 days after delivery of Borrower’s financial statements for the last fiscal quarter of each year, Borrower shall repay Term Loan principal in an amount equal to 50% of Excess Cash Flow for the twelve-month period ending on the last day of such fiscal quarter. Such payment shall be due (i) initially, with respect to the Excess Cash Flow determined for the year endind December 31, 2014 and (ii) thereafter, with respect to the Excess Cash Flow determined for each subsequent year until Senior Leverage Ratio calculated as of the end of the relevant year is less than 2.00:1.00.
Excess Cash Flow Recapture. Commencing on the date Access receives Strategic’s financial statements for the month of June, 2005, and continuing on each date that Access receives Strategic’s monthly financial statements for each sixth month thereafter, Strategic shall pay to Access an amount equal to 100% of Excess Cash Flow for the six month period ending on the last day of such month, which amount shall be applied to the Indebtedness in such order as Access shall elect in its discretion.
Excess Cash Flow Recapture. (i) On the date that Access receives Strategic’s financial statements for a Positive Excess Cash Flow Quarter, Strategic shall (x) pay to Access an amount equal to 50% of positive Excess Cash Flow for such Positive Excess Cash Flow Quarter, which amount shall be applied to the Indebtedness in such order as Access shall elect in its discretion, and (y) retain in escrow for Access the remaining 50% of positive Excess Cash Flow for such Positive Excess Cash Flow Quarter (the “Reserve Amount”).
Excess Cash Flow Recapture. In addition to any and all required reductions of the Commitment Amount set forth in Section 3.1 above, the Commitment Amount shall be reduced on May 1 of each calendar year, commencing on May 1, 1997, in an amount equal to seventy-five percent (75%) of Excess Cash Flow of the Borrower for the immediately preceding Fiscal Year. Such reduction shall be applied to automatically reduce, pro rata, the Commitment Amount as in effect from time to time." (S)4.4. Amendment to Section 3.3.3. Section 3.3.3. of the Credit -------------------------- Agreement is hereby amended in its entirety to read as follows:
Excess Cash Flow Recapture. Commencing with the Borrower's 2001 fiscal year, and for each fiscal year thereafter, the Borrower promises to pay to the Agent for the pro rata --- ---- accounts of the Banks: (a) on or before May 15 of each year, an amount equal to twelve and one-half of one percent (12.5%) of the Consolidated Excess Cash Flow for the fiscal quarter ending closest to March 31 of such year, (b) on or before August 15 of each year, an amount (when added to the amount paid in such year pursuant to clause (a) hereof), equal to twenty- five percent (25%) of the Consolidated Excess Cash Flow for the period of two fiscal quarters ending closest to June 30 of such year, (c) on or before November 15 of each year, an amount (when added to the amount paid in such year pursuant to clause (b) hereof), equal to thirty-seven and one-half of one percent (37.5%) of the Consolidated Excess Cash Flow for the period of three fiscal quarters ending closest to September 30 of such year and (d) on or before April 15 of the subsequent year, an amount (when added to the amount paid with respect to such year pursuant to clause (c) hereof), equal to one hundred percent (100%) of the Consolidated Excess Cash Flow to such fiscal year. Notwithstanding the foregoing, if with respect to any fiscal quarter ending during such year, the Borrower can demonstrate to the reasonable satisfaction of the Agent that the Leverage Ratio as at the end of such fiscal quarter was less than 4.50:1 and no Default or Event of Default has occurred and is continuing, then the amount required to be paid hereunder following the end of such fiscal quarter shall be one-half of the amount required in the preceding sentence with respect to such fiscal quarter. Additionally, in the event that the Leverage Ratio as at the end of any fiscal year and as at the end of the first fiscal quarter ending thereafter is less than 4.50:1 and no Default or Event of Default has occurred and is continuing, payments in respect of Consolidated Excess Cash Flow shall only be required on an annual basis. Additionally, with respect to the payment required on April 15 with respect to the preceding fiscal year, if the Borrower can demonstrate to the reasonable satisfaction of the Agent that (a) the Leverage Ratio as at the end of each of (i) the fiscal year for which such payment is to be made and (ii) the fiscal quarter occurring immediately preceding the date such payment is due and payable was less than 4.50:1.00 and (b) no Default or Event of Def...
Excess Cash Flow Recapture. Commencing with the fiscal year ending on or after February 28, 2008, the Borrower shall pay to the Administrative Agent, for the respective accounts of the Lenders as provided in §4.5, an amount equal to fifty percent (50%) of the Consolidated Excess Cash Flow if the Total Leverage Ratio as at the last day of such fiscal year is equal to or greater than 6.00:1.00, such prepayment to be due five (5) days after receipt of the audited financial statements delivered pursuant to §9.4(a) but in any event no later than one hundred (100) days after the end of each applicable fiscal year and to be applied to prepay the Loans in the manner set forth in §4.5.
Excess Cash Flow Recapture. Borrowers shall jointly and severally prepay the Loans in amounts equal to Wabash's Excess Cash Flow with respect to each fiscal year of Wabash during the Term hereof, commencing with the fiscal year ending December 31, 2004, such prepayments to be based upon, and made within 30 days following the due date for delivery by Borrowers to Agent of the annual financial statements required by subsection 8.1.3(i) hereof and each such prepayment shall be applied to the Loans in the manner specified in the second sentence of subsection 3.3.1 until payment thereof in full.
Excess Cash Flow Recapture. In addition to the payments set forth in Section 2.1(e)(ii) hereof and any optional prepayments made under the Term Loan B, beginning on June 1, 2015 (for the fiscal year ending December 31, 2014) and continuing on June 1 of each year thereafter until the Term Loan B Maturity Date or until all amounts due under the Term Loan B have been paid in full, whichever first occurs, Borrowers shall pay an amount equal to the Recapture Percentage multiplied by its Excess Cash Flow for the immediately preceding fiscal year. This Excess Cash Flow payment will be allocated to the Term Loan B payment schedule in the inverse order of payments due beginning backwards from the Term Loan B Maturity Date.”
