Mandatory Prepayment from Excess Cash Flow. The Borrower shall ensure that within ten Business Days of delivery of the most recent financial statements of the UK Group pursuant to Clause 16.1 (Annual Statements), commencing with the financial statements delivered in respect of the financial year to ending 31 December 2003, the Excess Cash Flow Payment Amount for the financial year to which such financial statements relate is applied in cancellation of the Available Facility and/or repayment of the Loan in accordance with Clause 9.6 (Application of 41 43 Proceeds).
Mandatory Prepayment from Excess Cash Flow. On a date within sixty (60) days after each December 31 (each December 31 is a “Measuring Date”), beginning within sixty (60) days after December 31, 2006, Borrower shall prepay the unpaid balance of the Primary Principal Amount in an amount equal to fifty percent (50%) of the Excess Cash Flow earned during the twelve (12) month period ending on the immediately preceding Measuring Date.
Mandatory Prepayment from Excess Cash Flow. The Company shall ensure that, within thirty (30) days of delivery to the Facility Agent of the most recent audited consolidated financial statements of the Company pursuant to Clause 21.1(a), commencing with the audited consolidated financial statements of the Company for the financial year ending 31 December 2003, an amount equal to fifty (50) per cent. of the amount of the Excess Cash Flow exceeding a minimum amount of [e]7,500,000 for the financial year to which such financial statements relate shall be paid to the Facility Agent and applied in prepayment of the outstandings under the Senior Facilities in accordance with Clause 9.7 (Application of Prepayments).
Mandatory Prepayment from Excess Cash Flow. Subject to the terms and conditions set forth below, until such time as the aggregate principal balance of the Term Loan has been reduced below the Base Term Loan Amount, Borrower shall pay to Agent, within fifteen (15) days after Borrower is required to deliver its annual audited financial statements to Agent pursuant to Section 6.1(e), an amount equal to sixty percent (60%) of Borrower's Excess Cash Flow for the immediately preceding Fiscal Year (each, an "Excess Cash Flow Payment"); provided that the Excess Cash Flow Payment with respect to Excess Cash Flow during the Fiscal Year ending December 31, 1996 will be required only to the extent that such Excess Cash Flow Payment exceeds Five Million Dollars ($5,000,000). (The amount of the Excess Cash Flow Payment that would have been required by the first sentence of this Section 2.3(b), but which was not paid due to the proviso at the end of that sentence, is hereafter referred to as the "Deferral Amount.") If the amount payable to Agent for any Fiscal Year as provided above (other than 1996) would be less than Five Million Dollars ($5,000,000), then the Excess Cash Flow Payment for such Fiscal Year shall be increased to the lesser of (i) seventy-five percent (75%) of such Excess Cash Flow, or (ii) Five Million Dollars ($5,000,000). If after the increase described in the immediately preceding sentence the amount paid to Agent for any Fiscal Year as provided above is less than Five Million Dollars ($5,000,000), then the amount of such shortfall shall be added to the minimum amount payable from Excess Cash Flow for subsequent Fiscal Years, until such shortfall has been received by Agent; provided that the amount payable shall -------- never exceed seventy-five percent (75%) of Excess Cash Flow. If for any Fiscal Year sixty percent (60%) of Borrower's Excess Cash Flow for such Fiscal Year would exceed the amount necessary to reduce the balance below the Base Term Loan Amount, then Borrower need only pay as much as is necessary to cause the principal balance of the Term Loan to equal the Base Term Loan Amount. If at the time Borrower is making an Excess Cash Flow Payment an appraisal of Borrower's real property is in process and such appraisal when completed shows a lower property value that changes the Base Term Loan Amount, then Borrower shall make such additional Excess Cash Flow Payments to Agent as are necessary based on the new Base Term Loan Amount. Amounts paid to Agent pursuant to this Section 2.3(b) ...
Mandatory Prepayment from Excess Cash Flow. Following the end of each fiscal year, beginning with the fiscal year ended March 31, 2007, the Borrower shall prepay Term Borrowings in an aggregate amount equal to the sum of: (i) 50% of Excess Cash Flow for such fiscal year; minus (ii) the aggregate amount of voluntary prepayments made on the Term Loans during such fiscal year; minus (iii) the aggregate amount of voluntary prepayments made on the Revolving Loans during such fiscal year that were accompanied by a permanent reduction of the Revolving Commitments. If the amount calculated pursuant to the foregoing sentence is zero or less, no mandatory prepayment under this paragraph (c) is required. Each prepayment pursuant to this paragraph shall be made within five (5) Business Days after the date on which financial statements are delivered pursuant to Section 5.01(a) with respect to the fiscal year for which Excess Cash Flow is being calculated. Notwithstanding anything to the contrary in this paragraph (c), if the Leverage Ratio calculated as of the last day of a fiscal year and for the four fiscal quarters then ended is less than 2.75 to 1.00, then no prepayment will be required under this paragraph (c) for such fiscal year.
Mandatory Prepayment from Excess Cash Flow. 12.3.1 The Borrower shall procure that within 14 days of delivery of the annual consolidated accounts of the Group under Clause 19.1 (Annual Statements), the Outstandings shall be prepaid in an aggregate amount equal to 75% of the Excess Cash Flow of the Group above USD 5,000,000.
Mandatory Prepayment from Excess Cash Flow. The Borrower shall ensure that within 15 Business Days of delivery of the most recent financial statements of the UK Group pursuant to Clause 16.2 (Quarterly Statements), commencing with the financial statements delivered in respect of the Financial Quarter ending 31 December 2002, the Borrower's determination of the Excess Cash Flow Payment Amount (if any) for the Financial Quarter to which such quarterly financial statements relate (such determination of the Excess Cash Flow Payment Amount to be made by reference to such quarterly financial statements and to be set out in sufficient detail (including the relevant numbers used in computing each component part of "Operating Cash Flow"
Mandatory Prepayment from Excess Cash Flow. For each ------------------------------------------ fiscal year ending on or after December 31, 2000, the Mexican Borrower shall make a prepayment of principal on the Mexican Term Loan (or, if the Mexican Term Loan shall have been repaid in full, the US Borrower shall make a prepayment of principal on the US Term Loan) in an amount equal to fifty percent (50%) of Consolidated Excess Cash Flow for such fiscal year; provided that no such prepayment shall be required -------- ---- hereunder if the Funded Debt to EBITDAR Ratio for such fiscal year is less than 3.25 to 1.00 and no Default or Event of Default is continuing at the time the prepayment is due. Any such prepayment shall be due ninety (90) days after the end of each applicable fiscal year.
Mandatory Prepayment from Excess Cash Flow. Borrower shall prepay the outstanding amount of the Term Loan in an amount equal to 50% of Excess Cash Flow for each fiscal year commencing with fiscal year 2001, payable upon delivery of the financial statements to Agent referred to in and required by Section 9.7 for such fiscal year but in any event not later than one hundred five (105) days after the end of each such fiscal year, which amount shall be applied to the outstanding principal installments on the Term Loan in the inverse order of the maturities thereof. In the event that the financial statement is not so delivered, then a calculation based upon estimated amounts shall be made by Agent upon which calculation Borrower shall make the prepayment required by this Section 2.12, subject to adjustment when the financial statement is delivered to Agent as required hereby. The calculation made by Agent shall not be deemed a waiver of any rights Agent or Lenders may have as a result of the failure by Borrower to deliver such financial statement.
Mandatory Prepayment from Excess Cash Flow. (a) Subject to paragraphs (b) and (c), the Parent shall apply, or procure that there is applied, within ten Business Days of the delivery to the Facility Agent under Clause 21.2(a)(i) of the audited consolidated Accounts of the Group for each annual Accounting Period an amount equal to fifty per cent. (50%) of the amount by which the Excess Cash Flow for such period (the "Relevant Accounting Period") exceeds euro 5,000,000, in or towards prepayment of the Utilisations in accordance with this Clause 9.
