VAT Coverage Base Equity Amount Sample Clauses

VAT Coverage Base Equity Amount. (i) Upon the occurrence of an Adverse VAT Dispute Determination, each Shareholder shall make Shareholder Contributions to the Borrower in an aggregate amount equal to the product of (1) the VAT Coverage Base Equity Amount and (2) such Shareholder’s Shareholder Percentage, provided that the aggregate amount payable by the Shareholders pursuant to this Section 2.1(d) shall not exceed the Maximum VAT Coverage Base Equity Amount. (ii) If an Adverse VAT Dispute Determination occurs on or prior to the last day of the Availability Period, the VAT Coverage Base Equity Amount shall be contributed to the Borrower as follows: (A) the portion of the VAT Coverage Base Equity corresponding to the liabilities described in clause (c) of the definition of “VAT Coverage Base Equity Amount” in the Common Terms Agreement shall be contributed by the earlier of (I) the date that is sixty (60) days from the occurrence of the Adverse VAT Dispute Determination and (II) the day prior to the date on which any such liability becomes due and payable, and (B) the remaining portion of the VAT Coverage Base Equity Amount shall be contributed during the Availability Period pro rata with each Advance under the Senior Credit Facilities in order for the Gearing Ratio as of the date of each such Advance to be the same as the Gearing Ratio calculated in accordance with the updated Financial Model delivered pursuant to Section 2.2(b)(i) (Cancellation) of the Common Terms Agreement, provided that any portion of the VAT Coverage Base Equity Amount not yet contributed to the Borrower as of the last day of the Availability Period shall be fully contributed to the Borrower on such date.
Sample 1
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Related to VAT Coverage Base Equity Amount

  • Minimum Interest Coverage The Borrower will not permit the ratio of EBITDA to Consolidated Interest Expense as at any fiscal quarter end for the four fiscal quarters then ending to be less than 3.00 to 1.0.

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Minimum Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.25 to 1.00.

  • Cash Flow Coverage Ratio The ratio of (a) the Borrower's Cash Flow to (b) the sum of (i) the Borrower's consolidated Interest Expense plus (ii) the Borrower's scheduled payments of principal (including the principal component of Capital Leases) to be paid during the 12 months following any date of determination shall at all times exceed (1) 1.5 to 1.

  • Minimum Consolidated EBITDA The Borrower will not permit Modified Consolidated EBITDA, for any Test Period ending at the end of any fiscal quarter of the Borrower set forth below, to be less than the amount set forth opposite such fiscal quarter: Fiscal Quarter Amount September 30, 1997 $36,000,000 December 31, 1997 $36,000,000 March 31, 1998 $36,000,000 June 30, 1998 $37,000,000 September 30, 1998 $37,000,000 December 31, 1998 $38,000,000 March 31, 1999 $38,000,000 June 30, 1999 $39,000,000 September 30, 1999 $40,000,000 December 31, 1999 $41,000,000 March 31, 2000 $41,000,000 June 30, 2000 $42,000,000 September 30, 2000 $43,000,000 December 31, 2000 $44,000,000 March 31, 2001 $44,000,000 June 30, 2001 $45,000,000 September 30, 2001 $46,000,000 December 31, 2001 $47,000,000 March 31, 2002 $47,000,000

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Interest Coverage The Company will not permit the ratio of Consolidated Adjusted EBITDA to Consolidated Interest Expense (in each case for the Company’s then most recently completed four fiscal quarters) to be less than 2.50 to 1.00 at any time.

  • Minimum Consolidated Fixed Charge Coverage Ratio The Consolidated Fixed Charge Coverage Ratio shall not be less than 1.50 to 1.00, determined based on information for the most recent fiscal quarter annualized.

  • Interest Coverage Ratio The Borrower will not permit the Interest Coverage Ratio to be less than 2.75 to 1.0 on the last day of any Fiscal Quarter.

  • Asset Coverage Ratio The Borrower will not permit the Asset Coverage Ratio to be less than 1.50 to 1 at any time.

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