Applicable Asset Sale Prepayment Percentage means (a) if the Borrower’s Secured Net Leverage Ratio at the end of the immediately preceding Test Period is greater than 3.25 to 1.00, 100%, (b) if the Borrower’s Secured Net Leverage Ratio at the end of the immediately preceding Test Period is equal to or less than 3.25 to 1.00 but greater than 2.75 to 1.00, 50% and (c) if the Borrower’s Secured Net Leverage Ratio at the end of the immediately preceding Test Period is equal to or less than 2.75 to 1.00, 0%, in each case, calculated on a Pro Forma Basis, including giving effect to the required prepayment pursuant to Section 2.05(b)(ii).
Applicable Asset Sale Prepayment Percentage with respect to any prepayment of the Term Loans required pursuant to Section 2.11(b) in connection with any Asset Sale or Recovery Event (i) if the First Lien Net Leverage Ratio as of the date such prepayment is required to be made is less than or equal to 1.50 to 1.00, 0%, (ii) if the First Lien Net Leverage Ratio as of the date such prepayment is required to be made is less than or equal to 2.00 to 1.00 and greater than 1.50 to 1.00, 50% or (iii) otherwise, 100%.
Applicable Asset Sale Prepayment Percentage means (a) if the Borrower’s Secured Net Leverage Ratio at the end of the immediately preceding Test Period is greater than 3.25 to 1.00, 100%, (b) if the Borrower’s Secured Net Leverage Ratio at the end of the immediately preceding Test Period is equal to or less than 3.25 to 1.00 but greater than 2.75 to 1.00, 50% and (c) if the Borrower’s Secured Net Leverage Ratio at the end of the immediately preceding Test Period is equal to or less than
More Definitions of Applicable Asset Sale Prepayment Percentage
Applicable Asset Sale Prepayment Percentage means (i) 100% or (ii) in the case of all Sale and Leaseback Transactions, 50%.
Applicable Asset Sale Prepayment Percentage means 50%.