Builder Basket definition
Builder Basket has the meaning assigned to such term in clause (a)(ii) of the definition of “Available Amount.”
Builder Basket has the meaning set forth in the definition of “Cumulative Credit.”
Builder Basket means, as of any date of determination, a cumulative amount equal to (a) the sum of (without duplication) (i) the greater of (A) $50 million or (B) the equivalent percentage of Adjusted EBITDA for the most recently ended four quarter period for which financial statements have been delivered (or, at the option of the Borrower, the Adjusted EBITDA for the most recently ended period for which financial statements are internally available), plus (ii) at the Borrower option, prior to the launch of general syndication, either (x) an amount not less than zero equal to the percentage of excess cash flow described above under “Mandatory Prepayments – Excess Cash Flow” equal to the percentage thereof not required to be applied as an excess cash flow prepayment of the Term Loans for the applicable year or (y) the CNI Growth Amount (to be defined as 50% of consolidated net income for the each fiscal quarter of the Borrower commencing with the first full fiscal quarter after the Closing Date), plus (iii) qualified capital contributions to or the proceeds received from public or private equity issuances of the Borrower or any parent thereof after the Closing Date, plus (iv) returns on investments made using the Builder Basket received by the Borrower or a Restricted Subsidiary, plus (v) any Declined Proceeds and any Retained Asset Sale Proceeds, plus (vi) the amount of any investment made by the Borrower and/or any of its Restricted Subsidiaries in reliance on the Builder Basket in any Unrestricted Subsidiary that has been re-designated as a Restricted Subsidiary or that has been merged or consolidated into a Borrower or any of its Restricted Subsidiaries or the fair market value of the assets of any Unrestricted Subsidiary (as reasonably determined by the Borrower) that have been transferred to the Borrower or any of its Restricted Subsidiaries or the amount of cash dividends made by an Unrestricted Subsidiary to the Borrower or any of its Restricted Subsidiaries (to the extent not included in consolidated net income) or the proceeds from the disposition of any Unrestricted Subsidiary received by the Borrower or any of its Restricted Subsidiaries, plus (vii) the proceeds initially received by the Borrower from debt and disqualified stock issuances that have been issued after the Closing Date and which have been exchanged or converted into qualified equity of the Borrower (or any parent thereof).
Examples of Builder Basket in a sentence
If more than one action occurs on any given date the permissibility of the taking of which is determined hereunder by reference to the amount of the FFO Builder Basket immediately prior to the taking of such action, the permissibility of the taking of each such action shall be determined independently and in no event may any two or more such actions be treated as occurring simultaneously.
For the avoidance of doubt, the acquisition by and/or transfer to the Issuer and/or any of its Subsidiaries of the Spinco Business and the related transactions in connection with the Spin-Off shall be deemed not to increase the Available Amount Builder Basket.
If a Restricted Subsidiary of the Company is designated as an Unrestricted Subsidiary, the aggregate fair market value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the Subsidiary properly designated as an Unrestricted Subsidiary will be deemed to be either (x) an Investment made as of the time of the designation that will reduce the Restricted Payments Builder Basket or (y) Permitted Investments, as determined by the Company.
For the avoidance of doubt, the acquisition by and/or transfer to the Issuer and/or any of its Subsidiaries of the SpinCo Business and the related transactions in connection with the Spin-Off shall be deemed not to increase the Available Amount Builder Basket.
More Definitions of Builder Basket
Builder Basket shall have the meaning provided in clause (a)(i) of the definition of “Available Amount”. “Business Day” shall mean (a) any day excluding Saturday, Sunday and any day that shall be in The City of New York a legal holiday or a day on which banking institutions are authorized by law or other governmental actions to close, (b) if the applicable Business Day relates to any Eurocurrency Loans, any day that is a Business Day described in clause (a) and that is also a day on which dealings in deposits in Dollars are carried on in the London interbank eurocurrency market, (c) if the applicable Business Day relates to any Euro Denominated Loans or Sterling Denominated Loans, any day that is a Business Day described in clauses (a) and (b) and that is also (x) a day on which dealings in deposits in Dollars are carried on in the London interbank Eurocurrency market and (y) in relation to any payment in Euros, a day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer 2 (TARGET 2) System is open, (d) with respect to all notices and determinations in connection with, and payments of principal and interest on or with respect to, Australian Dollar Denominated Loans, any day that is a Business Day described in clauses (a) and (b) and that is also a day which is not a legal holiday or a day on which banking institutions are authorized or required by law or other government action to close in Sydney, Australia, (e) with respect to all notices and determinations in connection with, and payments of principal and interest on or with respect to, Canadian Dollar Denominated Loans, any day that is a Business Day described in -15- #95203802v2296160609v3 #96160609v5
Builder Basket means the sum, without duplication, of: · (i) 50% of Consolidated Net Income (to be defined in a manner mutually agreeable) (100% of net loss) from start of fiscal quarter preceding date of issue to the end of the most recently ended fiscal quarter, · (ii) 100% of cash proceeds received from the issue or sale of equity interest of the Issuer, · (iii) 100% of the reduction in indebtedness (other than subordinated indebtedness) from the contractual conversion or exchange of convertible or exchangeable debt for capital stock, · (iv) proceeds from the sale or repayment of restricted Investments and · (v) the fair market value of investments in subsidiaries redesignated as Restricted Subsidiaries to the extent initially constituting a restricted investment. As a condition to use of the Builder Basket for any purpose, the Issuer must be able to incur $1 of additional debt under the 2.25:1.00 Fixed Charge Coverage Ratio noted below.
Builder Basket shall have the meaning provided in clause (a)(i) of the definition of “Available Amount”. “Business Day” shall mean (a) any day excluding Saturday, Sunday and any day that shall be in The City of New York a legal holiday or a day on which banking institutions are authorized by law or other governmental actions to close, (b) if the applicable Business Day relates to any Eurocurrency Loans, any day that is a Business Day described in clause (a) and that is also a day on which dealings in deposits in Dollars are carried on in the London interbank eurocurrency market, (c) if the applicable Business Day relates to any Euro Denominated Loans or Sterling Denominated Loans, any day that is a Business Day described in clauses (a) and (b) and that is also (x) a -16- #96562806v11
Builder Basket shall have the meaning provided in clause (a)(i) of the
Builder Basket means the sum, without duplication, of:
Builder Basket shall have the meaning provided in clause (a)(i) of the