Mandatory Prepayment With Excess Cash Flow. As soon as practicable and in any event by April 30th of each year (commencing April 30, 2006), the Borrower shall cause to be paid a mandatory repayment of principal of Loans applied pursuant to the terms of Section 4.5(a) in an amount equal to 50% of Excess Cash Flow of the Borrower and its Subsidiaries for the Fiscal Year then most recently ended; provided, that so long as no Event of Default or Unmatured Event of Default then exists, (i) if the Most Recent Leverage Ratio is less than 3.5 to 1.0, then, instead of 50%, an amount equal to 25% of Excess Cash Flow of the Borrower and its Subsidiaries for such Fiscal Year shall be applied as a mandatory repayment of Loans as provided in Section 4.5 and (ii) if the Most Recent Leverage Ratio is less than 3.0 to 1.0 then no mandatory prepayment shall be required to be applied from Excess Cash Flow.
Mandatory Prepayment With Excess Cash Flow. On each Excess Cash Payment Date, an amount equal to 75% of Excess Cash Flow, if positive, of Borrower and its Subsidiaries for the most recent Excess Cash Flow Period ending prior to such Excess Cash Payment Date shall be applied as a mandatory repayment of principal of the Loans as provided in Section 4.4.
Mandatory Prepayment With Excess Cash Flow. On each Excess Cash Flow Payment Date, an amount equal to 50% of Excess Cash Flow of Company and its Subsidiaries for the most recent Excess Cash Flow Period ending prior to such Excess Cash Flow Payment Date shall be applied as a mandatory repayment of principal of the Loans and cash collateralization of the L/C Obligations in the order set forth in Section 4.4; provided, that so long as no Event of Default or Unmatured Event of Default then exists, if the Leverage Ratio as of the last day of such most recent Excess Cash Flow Period is less than 3.25:1.0 and greater than or equal to 2.50:1.0, then, instead of 50%, an amount equal to 25% of Excess Cash Flow of Company and its Subsidiaries for such Excess Cash Flow Period shall be applied as a mandatory repayment of Term Loans as provided above in this Section 4.3(d) and, provided, further that if the Leverage Ratio as of the last day of such most recent Excess Cash Flow Period is less than 2.50:1.0, no such prepayment shall be required from Excess Cash Flow.
Mandatory Prepayment With Excess Cash Flow. On each Excess Cash Flow Payment Date, Borrowers shall apply an amount equal to 50% of Excess Cash Flow of Crown Holdings and its Subsidiaries for the most recent Excess Cash Flow Period ending prior to such Excess Cash Flow Payment Date as a mandatory repayment of principal of the Term Loans pursuant to the terms of Section 4.5; provided, that so long as no Event of Default or Unmatured Event of Default then exists, if the Most Recent Total Leverage Ratio as of such Excess Cash Flow Payment Date is less than 4.0 to 1.0 and Rating Condition is satisfied as of such Excess Cash Flow Payment Date, no such prepayment shall be required; provided, further, that Excess Cash Flow for any Fiscal Year shall be reduced by the aggregate amount of prepayments of principal and premiums in respect of Existing Unsecured Debt (other than Debentures), First Lien Notes or Senior Notes 2013 (in each case, to the extent not refinanced with proceeds of Indebtedness) made after the end of such Fiscal Year and prior to such Excess Cash Flow Payment Date.
Mandatory Prepayment With Excess Cash Flow. On each Excess Cash Payment Date, Company and European Holdco shall cause an amount equal to 50% of Excess Cash Flow of Company and its Subsidiaries for the most recent Excess Cash Flow Period ending prior to such Excess Cash Payment Date to be applied as a mandatory repayment of principal of the Loans pursuant to the terms of Section 4.5(a), provided that, so long as no Event of Default or Unmatured Event of Default then exists, if (x) the Leverage Ratio as of the last day of such most recent Excess Cash Flow Period is less than 3.50:1.0 or (y) the Xxxxx’x Rating is at least Ba3 and the S&P Rating is at least BB-, then, Company and European Holdco shall not be required to apply any portion of Excess Cash Flow as a mandatory repayment of Loans as provided above in this Section 4.4(f)).
Mandatory Prepayment With Excess Cash Flow. As soon as practicable, and in any event by April 30th of each Fiscal Year, (A) Borrower shall calculate the Excess Cash Flow for such Fiscal Year and (B) Borrower shall make a mandatory prepayment of the Term Loans in an amount equal to (i) one hundred percent (100%) or (ii) after the Minimum Term B Prepayment is made, seventy-five percent (75%) of such Excess Cash Flow ("TOTAL PREPAYMENT AMOUNT"). All prepayments of principal made hereunder made by Borrower pursuant to this SECTION 4.2(c) shall be applied first to the Term A Loans, with up to 50% of such prepayment applied pro rata to the Scheduled Term A Loan Principal Payments to be made within the twelve-month period following the date of such prepayment and the remaining portion of such prepayments shall be applied in inverse order of maturity.
Mandatory Prepayment With Excess Cash Flow. As soon as practicable, and in any event by April 30th of each Fiscal Year, (A) Borrower shall calculate the Excess Cash Flow for such Fiscal Year and (B) Borrower shall make a mandatory prepayment of the Term B Loans in an amount equal to seventy-five percent (75%) of such Excess Cash Flow; provided, that so long as no Event of Default or Unmatured Event of Default then exists, if the Leverage Ratio as of the last day of such recently completed Fiscal Year is less than 4.0:1.0, then, instead of 75%, such percentage shall equal to 50% of Excess Cash Flow (“Total Prepayment Amount”). All prepayments of principal made hereunder made by Borrower pursuant to this Section 4.2(c) shall be applied in the manner set forth in Section 4.3.
Mandatory Prepayment With Excess Cash Flow. On each Excess Cash Payment Date, an amount equal to (i) 75% of Excess Cash Flow of Borrower and its Subsidiaries for the most recent Excess Cash Flow Period ending prior to such Excess Cash Payment Date if the Leverage Ratio is greater than or equal to 3.25x or (ii) 50% of Excess Cash Flow of Borrower and its Subsidiaries for the most recent Excess Cash Flow Period if the Leverage Ratio is less than 3.25x ending prior to such Excess Cash Payment Date, shall be applied as a mandatory repayment of principal of the Term Loans (with the Term A Dollar Percentage of such amount to be applied as a repayment of the Term A Dollar Loans, the Term A Euro Percentage of such amount to be applied as a repayment of the Term A Euro Loans, the Term B Dollar Percentage of such amount to be applied as a repayment of the Term B Dollar Loans and the Term B Dollar Percentage of such amount to be applied as a repayment of Term B Dollar Loans, in each case subject to modification of such application as set forth in SECTION 4.5(C)).
Mandatory Prepayment With Excess Cash Flow. On each Excess Cash Payment Date, an amount equal to 50% of Excess Cash Flow of Company and its Subsidiaries for the most recent Excess Cash Flow Period ending prior to such Excess Cash Payment Date shall be applied as a mandatory repayment of principal of the Loans pursuant to the terms of Section 4.5(a), provided that, so long as (x) no Event of Default or Unmatured Event of Default then exists, (y) the Leverage Ratio as of the last day of such most recent Excess Cash Flow Period is less than or equal to 2.0 to 1.0 and (z) the lowest rating of the Facilities (or the lowest applicable rating if the Facilities have more than one rating) shall be at least Ba2 by Xxxxx'x and BB by S&P, Borrowers shall not be required to apply any portion of Excess Cash Flow as a mandatory repayment of the Loans as provided in this Section 4.4(d)).
Mandatory Prepayment With Excess Cash Flow. On each Excess Cash Payment Date, Company and European Holdco shall cause an amount equal to 50% of Excess Cash Flow of Company and its Subsidiaries for the most recent Excess Cash Flow Period ending prior to such Excess Cash Payment Date to be applied as a mandatory repayment of principal of the Loans pursuant to the terms of Section 4.5(a), in each case subject to modification of such application as set forth in Section 4.5(c), provided that, so long as no Event of Default or Unmatured Event of Default then exists, if the Leverage Ratio as of the last day of such most recent Excess Cash Flow Period is less than 3.0:1.0, then, Company and European Holdco shall not be required to apply any portion of Excess Cash Flow as a mandatory repayment of Loans as provided above in this Section 4.4(f)).
