Available Excess Cash Flow means, at any date of determination, an amount, not less than zero and determined on a cumulative basis, that is equal to 50% of the aggregate cumulative sum of Excess Cash Flow for each Fiscal Year ending after the Effective Date and prior to such date, commencing with the Fiscal Year ending December 31, 2016.
Available Excess Cash Flow means, at any time, the aggregate Excess Cash Flow generated in respect of each financial year of the Borrower, commencing with the financial year ended 31 December 2003, less the amount of such Excess Cash Flow (in respect of each such financial year) which:
Available Excess Cash Flow means at any time (the “Reference Date”) (x) the cumulative amount of Excess Cash Flow for all fiscal years completed after the Closing Date and prior to the Reference Date minus (y) the portion at such time of such Excess Cash Flow that has been after the Closing Date and on or prior to the Reference Date (A) applied to (i) the prepayment of Loans in accordance with Section 5.2(a)(ii), (ii) the payment and or distribution of dividends by the US Borrower to Holdings to pay cash interest of the 2011 Senior Notes in accordance with Section 10.6(f) or (iii) the redemption, repurchase or retirement of the 2011 Senior Notes, the PIK Notes or the PIK Refinancing Preferred Stock in accordance with Section 10.6(g) or (B) utilized by the US Borrower or any Restricted Subsidiary (i) to make any investments (including loans) pursuant to Section 10.5(j) or Section 10.5(m) after the Closing Date and on or prior to the Reference Date, (ii) to make Capital Expenditures after the Closing Date and on or prior to the Reference Date pursuant to Section 10.11(b) or (iii) in connection with any prepayment, repurchase or redemption of the Subordinated Notes (other than any such prepayment made pursuant to sub-clause (z) of the proviso of Section 10.7(a))or the Senior Subordinated Notes pursuant to Section 10.7(a) after the Closing Date and on or prior to the Reference Date.
Examples of Available Excess Cash Flow in a sentence
Twombly, 550U.S. 544, 555 (2007)(citations and internal quotation marks omitted).
Lender agrees that at any time when the Property has achieved and is maintaining a Debt Service Coverage at not less than 1.25:1 and no other Default or Event of Default exists Borrower may make distributions to its shareholder to the extent Borrower has Available Excess Cash Flow (as hereinafter defined).
More Definitions of Available Excess Cash Flow
Available Excess Cash Flow means, with respect to any Restricted Payment to be made pursuant to Section 6.5(f), any Investment to be made pursuant to Section 6.7(m) or any prepayment, repurchase or redemption of Other Debt to be made pursuant to Section 6.16 in any Fiscal Year (commencing with the Fiscal Year ending December 31, 2020) (i) if the Excess Cash Flow Payment Conditions are satisfied at the time of making the payment and after giving effect thereto, an amount equal to (a) either (x) if the Leverage Ratio as of the most recently completed Fiscal Year for which audited financial statements have been delivered pursuant to Section 5.1(c) is less than or equal to 3.25 to 1.00, (1) 100% of the Consolidated Excess Cash Flow for such most recently completed Fiscal Year minus (2) the aggregate amount of Voluntary Term Loan Prepayments consummated during the most recently completed Fiscal Year or (y) if the Leverage Ratio as of the most recently completed Fiscal Year for which audited financial statements have been delivered pursuant to Section 5.1(c) is greater than 3.25 to 1.00, (1) 50% of the Consolidated Excess Cash Flow for such most recently completed Fiscal Year minus (2) the aggregate amount of Voluntary Term Loan Prepayments consummated during the most recently completed Fiscal Year, minus (b) the sum of (x) Restricted Payments made pursuant to Section 6.5(f) after the delivery of such financial statements and on or prior to the date of determination, plus (y) Investments made pursuant to Section 6.7(m) after the delivery of such financial statements and on or prior to the date of determination, plus (z) prepayments, repurchases and redemptions of Other Debt pursuant to Section 6.16 after the delivery of such financial statements and on or prior to the date of determination and (ii) if the Excess Cash Flow Payment Conditions are not satisfied at the time of making the payment and after giving effect thereto, zero.
Available Excess Cash Flow means, with respect to any Fiscal Quarter, an amount equal to no more than 10% of Excess Cash Flow for such Fiscal Quarter.
Available Excess Cash Flow means (a) with respect to the 2008 Fiscal Year, 50% of Excess Cash Flow for the period commencing the Commitment Effective Date through the end of such Fiscal Year, (b) with respect to the 2009 Fiscal Year, 50% of Excess Cash Flow for such Fiscal Year and (c) with respect to the 2010 Fiscal Year and each Fiscal Year thereafter, (i) if as of such date of determination the Total Leverage Ratio is greater than or equal to 2.0:1.0, 50% of Excess Cash Flow for such Fiscal Year and (ii) if as of such date of determination the Total Leverage Ratio is less than 2.0:1.0, 100% of Excess Cash Flow for such Fiscal Year.
Available Excess Cash Flow means, with respect to any Restricted Payment to be made pursuant to Section 6.5(f), any Investment to be made pursuant to Section 6.7(m) or any prepayment, repurchase or redemption of Other Debt pursuant to Section 6.16 in any Fiscal Year (i) if the Excess Cash Flow Payment Conditions are satisfied at the time of making the payment and after giving effect thereto, an amount equal to (a) either (x) if the Leverage Ratio as of the most recently completed Fiscal Year for which audited financial statements have been delivered pursuant to Section 5.1(c) is less than or equal to 3.00 to 1.00, 100% of the Consolidated Excess Cash Flow for such most recently completed Fiscal Year (in the case of the Fiscal Year ended December 31, 2011, calculated for the period from the Closing Date to December 31, 2011) or (y) if the Leverage Ratio as of the most recently completed Fiscal Year for which audited financial statements have been delivered pursuant to Section 5.1(c) is greater than3.00 to 1.00, 50% of the Consolidated Excess Cash Flow for such most recently completed Fiscal Year (in the case of the Fiscal Year ended December 31, 2011, calculated for the period from the Closing Date to December 31, 2011), minus (b) the sum of (w) Restricted Payments made pursuant to Section 6.5(f) after the delivery of such financial statements and on or prior to the date of determination, plus (x) Investments made pursuant to Section 6.7(m) after the delivery of such financial statements and on or prior to the date of determination, plus (y) prepayments, repurchases and redemptions of Other Debt pursuant to Section 6.16 after the delivery of such financial statements and on or prior to the date of determination,plus (z) the amount of any Credit Party Purchase consummated during the most recently completed Fiscal Year and (ii) if the Excess Cash Flow Payment Conditions are not satisfied at the time of making the payment and after giving effect thereto, zero.
Available Excess Cash Flow any amount of Excess Cash Flow which remains available after application of the required percentage of such Excess Cash Flow to prepayment of the Term Loans in accordance with Section 2.12(c), if required thereunder, minus (w) amounts of Excess Cash Flow that have been used to make Restricted Payments in accordance with Section 7.6, (x) amounts of Excess Cash Flow that have been used to make investments in accordance with Section 7.8(i), (y) amounts of Excess Cash Flow that have been used to make Permitted Business Acquisitions in accordance with Section 7.8(k) and (z) amounts of Excess Cash Flow that have been applied to the payment, prepayment, repurchase or redemption of the Senior Subordinated Notes or Permitted Subordinated Indebtedness in accordance with Section 7.9(a).
Available Excess Cash Flow as defined in subsection 5.1(b).
Available Excess Cash Flow means, for any Fiscal Quarter ending after the Closing Date, the Excess Cash Flow for such Fiscal Quarter, minus the Accumulated Cash Flow Deficit as of the last day of the immediately preceding Fiscal Quarter.