Common use of Prepayments and Reductions from Consolidated Excess Cash Flow Clause in Contracts

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.

Appears in 2 contracts

Samples: Credit Agreement (Integrated Defense Technologies Inc), Credit Agreement (Integrated Defense Technologies Inc)

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Prepayments and Reductions from Consolidated Excess Cash Flow. If In the event that there is shall be Consolidated Excess Cash Flow for any Fiscal Year (commencing with Fiscal Year 2002)Year, the applicable Borrower shall, no later than 90 days after the end of such Fiscal Year, prepay the Loans (but and/or the Revolving Loan Commitment Commitments shall not be permanently reduced) reduced in an aggregate amount equal to 50% of such Consolidated Excess Cash Flow; PROVIDED, providedHOWEVER, however if the Consolidated Total Leverage Ratio as of the most recent fiscal quarter then ended is less than 2.25:1.00, Borrower that no prepayment pursuant to this subsection 2.4B(iii)(e) shall not be required with respect to make such prepaymentConsolidated Excess Cash Flow for Fiscal Year 2001.

Appears in 1 contract

Samples: Credit Agreement (Hines Horticulture Inc)

Prepayments and Reductions from Consolidated Excess Cash Flow. If there is Consolidated Excess Cash Flow for any Fiscal Year (commencing with Fiscal Year 20022001), 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 (i) if at the end of such Fiscal Year, the Consolidated Total Leverage Ratio is less than 3:00 to 1:00, 50% of such Consolidated Excess Cash Flow, providedor (ii) otherwise, however if the 75% of such 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 prepaymentExcess Cash Flow.

Appears in 1 contract

Samples: Credit Agreement (Vertex Aerospace Inc)

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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 2.25:1.002.50:1.00, Borrower shall not be required to make such prepayment.

Appears in 1 contract

Samples: Credit Agreement (Integrated Defense Technologies Inc)

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