Prepayments and Reductions from Excess Cash Flow Sample Clauses

Prepayments and Reductions from Excess Cash Flow. In the event that (i) there shall be Excess Cash Flow for the Fiscal Year ending on December 31, 2003 and for any Fiscal Year thereafter and (ii) the Leverage Ratio for such Fiscal Year is greater than or equal to 4.00:1.00, then Borrowers shall, on or before April 30 of each year following each such Fiscal Year, prepay the Loans and reduce the Commitments in an amount equal to 50% of such Excess Cash Flow for such Fiscal Year, in the manner specified in subsection 2.4B(iv)(b).
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Prepayments and Reductions from Excess Cash Flow. Within ------------------------------------------------ the earlier of five days after delivery of the Annual Financials pursuant to Section 6.03(d) and 95 days following the end of each Fiscal Year, the Borrower shall prepay the Term Loans and/or the Revolving Loans, and/or the Revolving Commitments shall be permanently reduced (in each case, as and to the extent set forth in Section 2.04(c)(xiii)), in an aggregate principal amount equal to (A) the product of (1) the Applicable US Facility Percentage of the amount of the total Excess Cash Flow of the Borrower and its Subsidiaries for such Fiscal Year and (2) the prepayment percentage set forth below opposite the applicable Consolidated Leverage Ratio as of the end of such Fiscal Year as set forth in the Effective Quarterly Compliance Certificate delivered pursuant to Section 6.03(d), minus (B) the aggregate principal amount of all voluntary prepayments ----- of Term Loans paid pursuant to Section 2.04(a) during such Fiscal Year; provided, however, if no Quarterly Compliance Certificate has been delivered at -------- ------- the time required by Section 6.03(d), the Consolidated Leverage Ratio shall be deemed to be greater than 3.50:1.00 for purposes of this clause: Excess Cash Flow Consolidated Leverage Ratio Prepayment Percentage --------------------------- --------------------- greater than 3.50:1.00 50% greater than 3.00:1.00 less than 3.50:1.00 35% less than 3.00:1.00 0%
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Prepayments and Reductions from Excess Cash Flow. In the event that there shall be Excess Cash Flow for any Fiscal Year (commencing with Fiscal Year ending on or about December 31, 2004), Borrowers shall, no later than June 30 of the following Fiscal Year, prepay the Loans in an aggregate amount equal to 25% of such Excess Cash Flow.
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Prepayments and Reductions from Excess Cash Flow. If there shall be Excess Cash Flow of Company and its Subsidiaries for any Fiscal Year (commencing with the Fiscal Year ending February 28, 2003), no later than 90 days after the end of such Fiscal Year, (A) Company shall prepay the Junior Term Loans in an amount equal to the sum of (x) 100% of the first US$25,000,000 of Excess Cash Flow of that Fiscal Year plus (y) 75% of such Excess Cash Flow in excess of US$25,000,000 (the "EXCESS CASH FLOW PREPAYMENT AMOUNT") in accordance with the Term Loan Agreement and (B) to the extent the Excess Cash Flow Prepayment Amount exceeds the aggregate outstanding principal amount of the Junior Term Loans, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced, in an amount equal to such excess; provided that such mandatory prepayments and/or reduction in the Revolving Loan Commitments for the Fiscal Year ending February 28, 2003, if any, shall be apportioned to relate solely to the period from the Closing Date until February 28, 2003; and provided, further, that so long as no Event of Default or Potential Event of Default has occurred and is continuing Company may retain all Excess Cash Flow with respect to any Fiscal Year, and the Revolving Loan Commitments shall not be permanently reduced, if (1) the Leverage Ratio at the last day of such Fiscal Year is 3.50:1.00 or less and (2) the Leverage Ratio at the last day of the immediately preceding Fiscal Year was 3.50:1.00 or less.
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Prepayments and Reductions from Excess Cash Flow. In the event that there shall be Excess Cash Flow for any Fiscal Year (commencing with the Fiscal Year ended as at December 31, 2007, or October 31, 2007 if the Merger Transaction is not consummated), Borrower shall, no later than March 15th of the following Fiscal Year (or no later than January 15th if the Merger Transaction is not consummated), prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to (1) fifty percent (50%) of such Excess Cash Flow if (y) any Event of Default has occurred and is continuing or (z) if the Total Leverage Ratio at the end of such Fiscal Year is greater than or equal to 4.00:1.00, or (2) twenty-five percent (25%) of such Excess Cash Flow if the Total Leverage Ratio at the end of such Fiscal Year is less than 4.00:1.00 but greater than or equal to 3.50:1.00; provided, however, that if neither of the foregoing clause (1) or (2) is applicable, no payments shall be required hereunder with respect to Excess Cash Flow.
Sample 1
Prepayments and Reductions from Excess Cash Flow. Within the ------------------------------------------------ earlier of five days after delivery of the Annual Financials pursuant to Section 6.03(d) and 95 days following the end of each Fiscal Year, the Borrower shall prepay the Term Loans and/or the Revolving Loans, and/or the Revolving Commitments shall be permanently reduced (in each case, as and to the extent set forth in Section 2.04(c)(xiii)), in an aggregate principal amount equal to the product of (A) the Applicable US Facility Percentage of the amount of the total Excess Cash Flow of the Borrower and its Subsidiaries for such Fiscal Year and (B) the prepayment percentage set forth below opposite the applicable Consolidated Leverage Ratio as of the end of such Fiscal Year as set forth in the Effective Quarterly Compliance Certificate delivered pursuant to Section 6.03(d); provided, however, if no -------- ------- Quarterly Compliance Certificate has been delivered at the time required by Section 6.03(d), the Consolidated Leverage Ratio shall be deemed to be greater than 3.50:1.00 for purposes of this clause (i): EXCESS CASH FLOW CONSOLIDATED LEVERAGE RATIO PREPAYMENT PERCENTAGE --------------------------- --------------------- 3.50:1.00 50% 3.00:1.00 less than 3.50:1.00 35% less than 3.00:1.00 0%
Sample 1
Prepayments and Reductions from Excess Cash Flow. In the event that there shall be Excess Cash Flow for the Fiscal Year ending December 31, 2000, the Borrower shall, no later than ninety (90) days after the end of such Fiscal Year prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to seventy-five percent (75%) of such Excess Cash Flow.
Sample 1
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Related to Prepayments and Reductions from Excess Cash Flow

  • Excess Cash Flow In the event that there shall be Excess Cash Flow in excess of $2,500,000 for any Fiscal Year, the Borrower shall, not later than the tenth Business Day following the date that is ninety days after the end of such Fiscal Year, prepay the Loans in an aggregate amount equal to 50% (provided that (i) such prepayment percentage shall be 25% if, as of the last day of the most recently ended Fiscal Year, the Senior Secured Net Leverage Ratio (determined for any such period by reference to the Compliance Certificate delivered pursuant to Section 5.1(c) calculating the Senior Secured Net Leverage Ratio as of the last day of such Fiscal Year) shall be 1.80:1.00 or less and (ii) no such prepayment shall be required by this clause (e) if the foregoing Senior Secured Net Leverage Ratio as of the last day of such Fiscal Year shall be 1.30:1.00 or less) of the entire Excess Cash Flow for such Fiscal Year minus 100% of voluntary repayments of the Loans made during such Fiscal Year with Internally Generated Cash; provided, that, if at the time that any such prepayment would be required, the Borrower is required to repay or repurchase or to offer to repurchase or repay Senior Secured Debt permitted pursuant to Section 6.1 pursuant to the terms of the documentation governing such Indebtedness with all or a portion of such Excess Cash Flow (such Senior Secured Debt required to be repaid or repurchased or to be offered to be so repaid or repurchased, “Other Applicable ECF Indebtedness”), then the Borrower may apply such Excess Cash Flow on a pro rata basis to the prepayment of the Loans and to the repayment or re-purchase of Other Applicable ECF Indebtedness, and the amount of prepayment of the Loans that would have otherwise been required pursuant to this Section 2.10(e) shall be reduced accordingly (for purposes of this proviso pro rata basis shall be determined on the basis of the aggregate outstanding principal amount of the Loans and Other Applicable ECF Indebtedness at such time, with it being agreed that the portion of Excess Cash Flow allocated to the Other Applicable ECF Indebtedness shall not exceed the amount of such Excess Cash Flow required to be allocated to the Other Applicable ECF Indebtedness pursuant to the terms thereof, and the remaining amount, if any, of such net proceeds shall be allocated to the Loans in accordance with the terms hereof); provided further, that to the extent the holders of Other Applicable ECF Indebtedness decline to have such indebtedness repurchased or prepaid, the declined amount shall promptly (and in any event within ten Business Days after the date of such rejection) be applied to prepay the Loans in accordance with the terms hereof.

  • Voluntary Prepayments Commitment Reductions (a) Prior to the Stated Maturity Date, the Borrowers may, from time to time on any Business Day, make a voluntary prepayment, in whole or in part, of the outstanding principal amount of the Loans; provided, however, that: (i) all such voluntary prepayments shall require notice on or before 11:00 A.M. (New York City time) not less than one nor more than five Business Days’ in advance of any prepayment of any Loan (or such shorter or longer period as the Administrative Agent may agree to in its reasonable discretion); (ii) all such voluntary partial prepayments shall be in an aggregate minimum amount of $1,000,000 and an integral multiple of $500,000 (or in the case of Swingline Loans, an aggregate minimum amount of $250,000 and an integral multiple of $100,000) or, if less, the aggregate principal amount of the relevant Loans outstanding hereunder; and (iii) all such prepayments shall be made pro rata among Loans having the same Interest Period. (b) The Borrowers may, from time to time on any Business Day after the Effective Date, voluntarily reduce the unused amount of any Commitment, the Swingline Commitment and the Letter of Credit Sublimit; provided, however, that (i) all such reductions shall be made on not less than one nor more than five Business Days’ prior notice to the Administrative Agent and be permanent, (ii) any partial reduction of the unused amount of such Commitment, Swingline Commitment or Letter of Credit Sublimit shall be in a minimum amount of $1,000,000 and in an integral multiple of $500,000 and (iii) the applicable Loans shall have been prepaid to the extent required by Section 3.1.2 or pursuant to Section 4.12(c) or the Letter of Credit Liability corresponding to all such Letter of Credit Usage shall have been collateralized in accordance with Section 4.14.

  • Payments from Available Funds Only All payments to be made by the Borrower under this Agreement shall be made only from the amounts that constitute Scheduled Payments, Special Payments and other payments under the Operative Agreements, including payment under Section 4.02 of the Participation Agreements and payments under Section 2.14 of the Indentures, and only to the extent that the Borrower shall have sufficient income or proceeds therefrom to enable the Borrower to make payments in accordance with the terms hereof after giving effect to the priority of payments provisions set forth in the Intercreditor Agreement. The Liquidity Provider agrees that it will look solely to such amounts to the extent available for distribution to it as provided in the Intercreditor Agreement and this Agreement and that the Borrower, in its individual capacity, is not personally liable to it for any amounts payable or liability under this Agreement except as expressly provided in this Agreement, the Intercreditor Agreement or any Participation Agreement. Amounts on deposit in the Class A Cash Collateral Account shall be available to the Borrower to make payments under this Agreement only to the extent and for the purposes expressly contemplated in Section 3.05(f) of the Intercreditor Agreement.

  • Allocation of Applied Realized Loss Amounts Any Applied Realized Loss Amounts shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then Outstanding in reduction of the Class Certificate Balance thereof.

  • Mandatory Prepayments and Commitment Reductions (a) If any Indebtedness shall be incurred by any Group Member (other than Excluded Indebtedness), an amount equal to 100% of the Net Cash Proceeds thereof shall be applied on the date of such issuance, incurrence or contribution toward the prepayment of the Term Loans and the reduction of the Revolving Commitments as set forth in Section 4.2(d). (b) If on any date any Group Member shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, unless a Reinvestment Notice shall be delivered in respect thereof, 100% of the Net Cash Proceeds thereof shall be applied on such date toward the prepayment of the Term Loans and the reduction of the Revolving Commitments as set forth in Section 4.2(d); provided that, notwithstanding the foregoing, on each Reinvestment Prepayment Date, an amount equal to the Reinvestment Prepayment Amount with respect to the relevant Reinvestment Event shall be applied toward the prepayment of the Loans as set forth in Section 4.2(d). (c) If, for any fiscal year of the Borrower, commencing with the fiscal year ending December 31, 2010, there shall be Excess Cash Flow, the Borrower shall, on the relevant Excess Cash Flow Application Date, apply the difference between (i) the ECF Percentage of such Excess Cash Flow and (ii) all optional prepayments of the Term Loans during such fiscal year toward the prepayment of the Term Loans and the reduction of the Revolving Commitments. Each such prepayment and commitment reduction shall be made on a date (an “Excess Cash Flow Application Date”) no later than five Business Days after the earlier of (A) the date on which the financial statements of the Borrower referred to in Section 7.1(a), for the fiscal year with respect to which such prepayment is made, are required to be delivered to the Lenders and (B) the date such financial statements are actually delivered. (d) Amounts to be applied in connection with mandatory prepayments and commitment reductions made pursuant to Section 4.2(a), (b) and (c) shall be applied, first, to the prepayment of the Term Loans in accordance with Section 4.8(b) and second, to reduce permanently the Revolving Commitments. Any such reduction of the Revolving Commitments shall be accompanied by prepayment of the Revolving Loans and/or Swingline Loans to the extent, if any, that the Total Revolving Extensions of Credit exceed the amount of the Total Revolving Commitments as so reduced; provided that if the aggregate principal amount of Revolving Loans and Swingline Loans then outstanding is less than the amount of such excess (because L/C Obligations constitute a portion thereof), the Borrower shall, to the extent of the balance of such excess, replace outstanding Letters of Credit and/or deposit an amount in cash in a cash collateral account established with the Administrative Agent for the benefit of the Lenders on terms and conditions satisfactory to the Administrative Agent. The application of any prepayment pursuant to Section 4.2 shall be made, first, to Base Rate Loans and, second, to Eurodollar Loans. Each prepayment of the Loans under Section 4.2 (except in the case of Revolving Loans that are Base Rate Loans and Swingline Loans) shall be accompanied by accrued interest to the date of such prepayment on the amount prepaid.

  • Mandatory Prepayments Commitment Reductions (a) No later than the tenth calendar day following the date of receipt by any Obligor or any of its Restricted Subsidiaries of any Net Asset Sale Cash Proceeds from any Asset Sale, the Company shall apply all such Net Asset Sale Cash Proceeds to repay any outstanding Loans as set forth in Section 2.13(a); provided that, if the Borrower provides written notice to the Administrative Agent within seven calendar days of the date any such Net Asset Sale Cash Proceeds are so received of its intention to undertake such an investment, then so long as no Event of Default shall have occurred and be continuing, the Company shall have the option, directly or indirectly or through one or more of its Restricted Subsidiaries, to invest such Net Asset Sale Cash Proceeds within twelve months of receipt thereof in assets of the general type used in the business of the Parent and its Restricted Subsidiaries; provided, further, that, if any portion of such Net Asset Sale Cash Proceeds have not been so reinvested at the end of such twelve-month period, the Borrower shall apply an amount equal to the amount of Net Asset Sale Cash Proceeds that have not been so reinvested as set forth in Section 2.13(a). (b) No later than the tenth Business Day following the date of receipt by any Obligor or any of its Restricted Subsidiaries of any Net Equity Issuance Event Cash Proceeds from any Equity Issuance Event, the Company shall apply 33% of all such Net Equity Issuance Event Cash Proceeds (such amount, the “Equity Prepayment Amount”) to repay any outstanding Loans as set forth in Section 2.13(a), and each such prepayment shall be accompanied by a permanent reduction of the Revolving Commitments in an amount equal to such Equity Prepayment Amount. (c) If at any time, the Aggregate Total Exposure exceeds the aggregate Revolving Commitments then in effect, the Borrower shall forthwith prepay first, Loans, and second Cash Collateralize the outstanding amount of Letter of Credit Usage at the Agreed L/C Cash Collateral Amount, to the extent necessary so that the Aggregate Total Exposure shall not exceed the Revolving Commitments then in effect (or, in the case of Letter of Credit Usage, such amounts are fully Cash Collateralized in compliance with the Agreed Cash Collateral Amount). (d) If, after giving effect to any termination of or reduction of the Revolving Commitments, the Letter of Credit Sublimit exceeds the amount of the Revolving Commitments, such sublimit shall be automatically reduced by the amount of such excess (including a corresponding reduction to each Issuing Bank’s Letter of Credit Issuer Sublimit (ratably) unless otherwise agreed by the Borrower and each applicable Issuing Bank).

  • Reduction of Servicing Compensation in Connection with Prepayment Interest Shortfalls In the event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall, the Servicer shall, from amounts in respect of the Servicing Fee for such Distribution Date, deposit into the Collection Account, as a reduction of the Servicing Fee for such Distribution Date, no later than the Servicer Remittance Date immediately preceding such Distribution Date, an amount up to the Prepayment Interest Shortfall; provided that the amount so deposited shall not exceed the Compensating Interest for such Distribution Date. In case of such deposit, the Servicer shall not be entitled to any recovery or reimbursement from the Depositor, the Trustee, the Issuing Entity or the Certificateholders. With respect to any Distribution Date, to the extent that the Prepayment Interest Shortfall exceeds Compensating Interest (such excess, a "Non-Supported Interest Shortfall"), such Non-Supported Interest Shortfall shall reduce the Current Interest with respect to each Class of Certificates, pro rata based upon the amount of interest each such Class would otherwise be entitled to receive on such Distribution Date. Notwithstanding the foregoing, there shall be no reduction of the Servicing Fee in connection with Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings and the Servicer shall not be obligated to pay Compensating Interest with respect to Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings.

  • Payments Reductions of Commitments Prepayments 73 2.5. Promise to Pay; Promissory Notes. 78

  • Prepayments, Etc of Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, any Indebtedness, except (a) the prepayment of the Credit Extensions in accordance with the terms of this Agreement and (b) regularly scheduled or required repayments or redemptions of Indebtedness set forth in Schedule 7.02 and refinancings and refundings of such Indebtedness in compliance with Section 7.02(d).

  • Excess Cash Borrower shall establish on the date hereof an Eligible Account with Lender or Lender’s agent into which Borrower shall deposit all Excess Cash on each Payment Date during the continuation of a Cash Sweep Period (the “Excess Cash Reserve Account”). Amounts so deposited shall hereinafter be referred to as the “

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