Compliance Amount definition

Compliance Amount means an amount, at any time, equal to the greater of (i) $60,000,00050,000,000 and (ii) the lesser of (x) 12.510.0% of the Total Commitment at such time and (y) 12.510.0% of the Total Borrowing Base at such time.
Sample 1
Compliance Amount means an amount of $1,500,000 (One Million Five Hundred Thousand Dollars) net of taxes exclusively for the purpose of covering third party fees, including, but not limited to, audit and legal fees incurred in relation to the Company’s ongoing filing requirements under the 34’ Act (the “Filing Fees”).
Sample 1
Compliance Amount means, at any time, the greater of (a) $5,000,000 for the first Trigger Event or $1,000,000 for each subsequent Trigger Event and (b) (i) if the applicable Trigger Event relates to the fiscal quarter of the Borrower ending on March 31, 2003, the greater of (A) the amount, if any, by which Total Debt (determined without regard to any reduction pursuant to clause (c) of the definition of "Total Debt") as of the last day of the most recently completed fiscal quarter of the Borrower exceeded the maximum amount of Total Debt as of such day that could have existed without causing an Event of Default as of such day under Section 6.14 (calculated using Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on such day) and (B) the amount, if any, by which the portion of Total Debt (determined without regard to any reduction pursuant to clause (c) of the definition of "Total Debt") accounted for by Senior Debt as of the last day of the most recently completed fiscal quarter of the Borrower exceeded the maximum amount of the portion of Total Debt accounted for by Senior Debt as of such day that could have existed without causing the Senior Debt Leverage Ratio to be in excess of the Target Senior Leverage Ratio as of such day (calculated using Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on such day), (ii) if the applicable Trigger Event relates to a fiscal quarter of the Borrower ending on or after June 30, 2003, and on or before December 31, 2003, the amount, if any, by which the portion of Total Debt (determined without regard to any reduction pursuant to clause (c) of the definition of "Total Debt") accounted for by (x) Indebtedness incurred under this Agreement and (y) Securitization Obligations (determined without regard to any reduction pursuant to clause (c) of the definition of "Total Debt") as of the last day of the most recently completed fiscal quarter of the Borrower exceeded the maximum amount of Total Debt accounted for by (x) Indebtedness incurred under this Agreement as of such day and (y) Securitization Obligations as of such day that could have existed without causing an Event of Default as of such day under Section 6.18 (calculated using Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on such day) or (iii) if the applicable Trigger Event relates to a fiscal quarter of the Borrower ending after December 31, 2003, the gr...
Sample 1

Examples of Compliance Amount in a sentence

  • The Company shall elect to redeem and convert the applicable Mandatory Compliance Amount pursuant to this Section 13 and the corresponding Mandatory Compliance Amounts of the Other Notes, to the extent the Holders of such Other Notes have also made an Early Repayment Election pursuant to the corresponding provisions of the Other Notes, in the same ratio of principal amount being redeemed and principal amount being converted.

  • On or after January 1, 2005, upon the occurrence of an Equity Liquidity Test Failure or a Share Availability Test Failure, the Holder may elect to have up to that principal amount of this Note equal to the Mandatory Compliance Amount, and any Additional Amount with respect thereto, repaid early by the Company.

  • If the Company does not deliver an Mandatory Compliance Notice in accordance with this Section 13(a), then the "MANDATORY COMPLIANCE REDEMPTION AMOUNT" shall mean the applicable Mandatory Compliance Amount, and the Company shall be deemed to have elected a Mandatory Compliance Redemption.

  • If the auditor finds that the CSXI Zone Compliance Amount and the LTS Zone Compliance Amount are both negative in the same Western and Eastern Zone pair, then rates will be adjusted as set forth in this Section 9.3.4 of this Appendix 9.

  • In the event that Borrower cannot, as the result of making such principal reduction payment, return to compliance with the Leverage Ratio, of if the Compliance Amount exceeds the then outstanding principal amount of the Loan, together with accrued interest thereon, the Borrower shall, within five (5) business days following written demand by Lender, repay the then outstanding principal amount of the Loan, together with accrued interest thereon.

  • Subject to Section 2.3, beginning with the Fiscal Quarter End dated December 31, 2017, in the event that a Forecast indicates a Ratio in excess of 62%, the Company agrees to sell and issue a number of Preferred Shares equal to the quotient obtained by dividing (x) the applicable Ratio Compliance Amount by (y) the Issue Price, on the date thirty (30) days prior to the Fiscal Quarter End, unless otherwise mutually agreed by the Parties (each such date, a “Closing Date”).

  • Similarly, if the LTS Lane Compliance Amount and the CSXI Lane Compliance Amount are both negative and the LTS Lane Compliance Amount is greater (on an absolute basis) than the CSXI Lane Compliance Amount (on an absolute basis), then CSXI will increase the APL/LTS rates by the amount by which the LTS Lane Compliance Amount (on an absolute basis) exceeds the CSXI Lane Compliance Amount (on an absolute basis).

  • For purposes of this Section, "Base Compliance Amount" means (i) for any date during the period from and including December 31, 1995 to but excluding June 30, 1996, $100,000,000 and (ii) for any date during the period from and including June 30, 1996 to the Bridge Termination Date, $105,000,000.

  • If in a particular Lane in that Western and Eastern Zone pair the LTS Lane Compliance Amount is negative but the CSXI Lane Compliance Amount is not negative, then CSXI will increase the APL/LTS rates by the LTS Lane Compliance Amount (on an absolute basis).

  • If the LTS Lane Compliance Amount and the CSXI Lane Compliance Amount are both negative and the CSXI Lane Compliance Amount is greater (on an absolute basis) than the LTS Lane Compliance Amount (on an absolute basis), then CSXI will reduce the APL/LTS rates by the amount by which the CSXI Lane Compliance Amount (on an absolute basis) exceeds the LTS Lane Compliance Amount (on an absolute basis).


More Definitions of Compliance Amount

Compliance Amount means, at any time, the greater of (a) $5,000,000 for the first Trigger Event or $1,000,000 for each subsequent Trigger Event and (b) the greater of (i) the amount, if any, by which Total Debt (determined without regard to any reduction pursuant to clause (c) of the definition of "Total Debt") as of the last day of the most recently completed fiscal quarter of the Borrower exceeded the maximum amount of Total Debt as of such day that could have existed without causing an Event of Default as of such day under Section 6.14 (calculated using Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on such day) and (ii) the amount, if any, by which the portion of Total Debt (determined without regard to any reduction pursuant to clause (c) of the definition of "Total Debt") accounted for by Senior Debt as of the last day of the most recently completed fiscal quarter of the Borrower exceeded the maximum amount of the portion of Total Debt accounted for by Senior Debt as of such day that could have existed without causing the Senior Debt Leverage Ratio to be in excess of the Target Senior Leverage Ratio as of such day (calculated using Consolidated EBITDA for the period of four consecutive fiscal quarters of the Borrower ended on such day).
Sample 1

Related to Compliance Amount

  • Quarterly Compliance Certificate has the meaning specified in Section 4.1(d) of the Base Indenture.

  • Pro Forma Compliance means, with respect to any transaction, that such transaction does not cause, create or result in a Default after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement Period to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma Effect hereunder that have occurred on or after the first day of the relevant Measurement Period.