Prepayments and Reductions from Consolidated Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing with Fiscal Year ____), Company shall, no later than 90 days after the end of such Fiscal Year, prepay the Loans and/or the Revolving Loan Commitment Amount shall be permanently reduced in an aggregate amount equal to __% of such Consolidated Excess Cash Flow.
Prepayments and Reductions from Consolidated Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing with the Fiscal Year ending in December 1998), Company shall, no later than 100 days after the end of such Fiscal Year, prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) in an aggregate amount equal to 50% of such Consolidated Excess Cash Flow for such Fiscal Year; provided however, that if the Leverage Ratio is less than or equal to 4.00:1.00, then such prepayment of the Loans and/or reduction of the Revolving Loan Commitments shall be in an aggregate amount equal to 25% of such Consolidated Excess Cash Flow for such Fiscal Year.
Prepayments and Reductions from Consolidated Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing with the Fiscal Year ending December 31,1999), Company shall, no later than the fifth Business Day after the delivery of financial statements for such Fiscal Year, prepay the Loans and/or the Acquisition Loan Commitments shall be permanently reduced in an aggregate amount equal to 50% of such Consolidated Excess Cash Flow less the aggregate amount of all voluntary prepayments of Term Loans actually made in such Fiscal Year pursuant to subsection 2.4B(i); PROVIDED that (i) the amount of such prepayment hereunder in respect of Excess Cash Flow shall be limited to the amount necessary to reduce the amount of Indebtedness included in the calculation of the Consolidated Leverage Ratio to the amount that would result, on a pro forma basis after giving effect to such prepayment, in a Consolidated Leverage Ratio of 3.50:1 or less at the end of the Fiscal Quarter then most recently ended and (ii) if as of the last day of such Fiscal Year, the Consolidated Leverage Ratio (as evidenced by a Margin Determination Certificate delivered to Administrative Agent pursuant to subsection 6.1(iv)) is equal to or less than 3.50:1.00, no prepayments of any Loans and no reduction of the Acquisition Loan Commitments or amount of Consolidated Excess Cash Flow need be made.
Prepayments and Reductions from Consolidated Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing with Fiscal Year 1997) and in the event that the Leverage Ratio for such Fiscal Year is greater than 3.50:1.0, within 100 days after the last day of such Fiscal Year (1) Company shall prepay the Term Loans in an amount equal to 50% of such Consolidated Excess Cash Flow and (2) to the extent such amount equal to 50% of such Consolidated Excess Cash Flow exceeds the aggregate outstanding principal amount of the Term Loans, Company shall prepay in an amount equal to such excess (the "FIRST EXCESS AMOUNT") the Revolving Term Loans to the full extent thereof, and the Revolving Term Loan Commitments shall be permanently reduced in an amount equal to the First Excess Amount; provided that if the aggregate amount of Revolving Term Loan Commitment so permanently reduced exceeds the Revolving Term Loans so prepaid, Company shall prepay in an amount equal to such excess first the Swing Line Loans to the full extent thereof and second the Revolving Loans, and (3) to the extent the First Excess Amount exceeds the Revolving Term Loan Commitments so permanently reduced, Company shall prepay (in addition to any Swing Line Loans and Revolving Loans prepaid pursuant to clause (2) above) in an amount equal to such excess (the "SECOND EXCESS AMOUNT") first the Swing Line Loans to the full extent thereof, and second the Revolving Loans, and the Revolving Loan Commitments shall be permanently reduced in an amount equal to the Second Excess Amount. If Company is required to apply or cause to be applied any portion of Consolidated Excess Cash Flow for any Fiscal Year to prepay any Funded Debt of any Loan Party pursuant to the applicable documents pursuant to which such Funded Debt was issued, then, notwithstanding anything contained in this subsection 2.4B(iii)(c), Company shall prepay the Loans and/or reduce the Revolving Term Loan Commitments and/or Revolving Loan Commitments, as applicable, in the order set forth in this subsection 2.4B(iii)(c) so as to eliminate any obligation to prepay such Funded Debt. Any such mandatory prepayments shall be applied as specified in subsection 2.4B(iv).
Prepayments and Reductions from Consolidated Excess Cash Flow. On the 180th day after the end of each Fiscal Year, Borrower shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 75% of Consolidated Excess Cash Flow if the Consolidated Total Leverage Ratio as of the last day of such Fiscal Year is greater than or equal to 3.00:1.00, and 50% of Consolidated Excess Cash Flow if the Consolidated Total Leverage Ratio as of the last day of such Fiscal Year is less than 3.00:1.00.
Prepayments and Reductions from Consolidated Excess Cash Flow. If there is Consolidated Excess Cash Flow for any Fiscal Year (commencing with Fiscal Year 2002), Borrower shall, no later than 90 days after the end of such Fiscal Year, prepay the Loans (but the Revolving Loan Commitment shall not be permanently reduced) in an aggregate amount equal to 50% of such Consolidated Excess Cash Flow, provided, however if the Consolidated Total Leverage Ratio as of the most recent fiscal quarter then ended is less than 2.25:1.00, Borrower shall not be required to make such prepayment.
Prepayments and Reductions from Consolidated Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing with Fiscal Year 2009 (which, for the avoidance of doubt, shall be the year ended December 31, 2009 if Company changes its Fiscal Year end from June 30)), Company shall, no later than 105 days after the end of such Fiscal Year, prepay the Loans and/or the Revolving Loan Commitment Amount shall be permanently reduced in an aggregate amount equal to (i) 75% of such Consolidated Excess Cash Flow minus (ii) voluntary prepayments of the Loans (excluding repayments of Revolving Loans or Swingline Loans, except to the extent the Revolving Commitments are permanently reduced in connection with such repayments); provided that for any Fiscal Year in which the Consolidated Leverage Ratio as of the last day of such Fiscal Year is less than 3.00:1.00, the amount in clause (i) shall be reduced to 50%; provided further that for any Fiscal Year in which the Consolidated Leverage Ratio as of the last day of such Fiscal Year is less than 2.00:1.00, no prepayment shall be required under this subsection 2.4B(iii)(e).
Prepayments and Reductions from Consolidated Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year, within 100 days after the last day of such Fiscal Year Company shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), the Loans in an amount equal to 50% of such Consolidated Excess Cash Flow; provided that, if as of the last day of such Fiscal Year, the aggregate principal amount of all Loans was less than 60% of the aggregate Appraised Value of all Financed Aircraft, no prepayment will be required under this subsection 2.4B(iii)(e). Any such mandatory prepayments shall be applied as specified in subsection 2.4B(iv).
Prepayments and Reductions from Consolidated Excess Cash Flow. In the event that there shall be Consolidated Excess Cash Flow for any Fiscal Period, then no later than one hundred twenty (120) days after the end of such Fiscal Period, Borrower shall prepay the Loans in an aggregate amount equal to (i) if the Consolidated Total Debt Ratio as of the last day of such Fiscal Period is greater than or equal to 3.00:1.00, (A) 50% of such Consolidated Excess Cash Flow minus (B) the amount of any voluntary prepayments of the Term Loans (other than Buybacks) or voluntary prepayments of term loans under the Existing Credit Agreement (other than voluntary prepayments made on the Closing Date) made during such Fiscal Period and (ii) if the Consolidated Total Debt Ratio as of the last day of such Fiscal Period is less than 3.00:1.00, 0% of such Consolidated Excess Cash Flow. Any such mandatory prepayments shall be applied as specified in subsection 2.4B(iv)(b).
Prepayments and Reductions from Consolidated Excess Cash Flow. On the 90th day after the end of each Fiscal Year, Borrower shall prepay the Loans and/or the Revolving Commitments shall be permanently reduced in an aggregate amount equal to (A) 75% of Consolidated Excess Cash Flow for such year if the Consolidated Total Leverage Ratio as of the last day of such Fiscal Year is greater than 3.50x, (B) 50% of Consolidated Excess Cash Flow for such year if the Consolidated Total Leverage Ratio as of the last day of such Fiscal Year is greater than 2.50x but less than or equal to 3.50x or (C) 0% of Consolidated Excess Cash Flow for such year if the Consolidated Total Leverage Ratio as of the last day of such Fiscal Year is less than or equal to 2.50x.
