Excess Cash Flow Recapture Sample Clauses

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. 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. Annually, within 30 days after delivery of Borrower's financial statements for the first fiscal quarter of each year, Borrower shall prepay 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) first, with respect to Excess Cash Flow for the twelve-month period ending March 31, 2014, and (ii) thereafter, for each subsequent twelve-month period until Senior Leverage Ratio calculated as of the end of the relevant twelve-month period 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. 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 Fiscal Quarter ending December 31, 2017, the Borrower Representative shall, within fifteen (15) calendar days after the due date for delivery of the respective Compliance Certificate in accordance with Section 5.08.4 hereof, pay, or cause to be paid, to the Administrative Agent for the account of the Lenders for each successive Fiscal Quarter if at the end of such Fiscal Quarter the Total Leverage Ratio is greater than 2.50:1.00, an amount equal to fifty percent (50%) of the Excess Cash Flow of GPB Prime and its Subsidiaries for such Fiscal Quarter most recently ended. Beginning with the 2018 Fiscal Year, the sum of the Excess Cash Flow payments calculated for each of the four Fiscal Quarters of each Fiscal Year shall be adjusted annually with the delivery of the audited financial statements provided pursuant to Section 5.08.2 for such Fiscal Year, based on a comparison of the amount of the Excess Cash Flow determined by the audited results for such Fiscal Year with the sum of the four Excess Cash Flow calculations determined for each of the respective Fiscal Quarters in such Fiscal Year and, (x) if, for any Fiscal Year, the Excess Cash Flow calculation for the 12-month period derived from the respective audit is greater than the sum of the Fiscal Quarter calculations (“Excess Cash Flow deficiency”), then, for the Fourth Quarter of such Fiscal Year, the Borrower shall pay to the Administrative Agent the Excess Cash Flow payment determined for the applicable fourth Fiscal Quarter, plus 50% of the Excess Cash Flow deficiency, or (y) if, for any Fiscal Year, the Excess Cash Flow calculation for the 12-month period derived from the respective audit is less than the sum of the Fiscal Quarter calculations (“Excess Cash Flow overage”), then, for the Fourth Quarter of such Fiscal Year, the Borrower shall pay to the Administrative Agent the Excess Cash Flow payment determined for the applicable fourth Fiscal Quarter, minus 50% of the Excess Cash Flow overage; provided, however, if, no Excess Cash Flow calculation is required for one or more of the Fiscal Quarters in any Fiscal Year as a result of giving effect to the Total Leverage Ratio threshold described in this section, no reconciliation to the audited results will be required for such Fiscal Year. The amount of any mandatory prepayments due from the Excess Cash Flow for any Fiscal Quarter shall be reduced by the amount of any voluntary prepayments made by any Loan Party in accordance with S...

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.”