Debt Reduction Amount definition

Debt Reduction Amount shall have the meaning set forth in Section 2.5.

Debt Reduction Amount means for any period that amount which is (1) the aggregate amount of payments of principal made during such period on Debt For Borrowed Money (including the Term Loans, but excluding all other Obligations and excluding the Existing Bank Debt) of the Parent and its Subsidiaries, Debt under sale-leaseback arrangements of the Parent and its Subsidiaries permitted hereunder and other similar Debt of the Parent and its Subsidiaries permitted hereunder LESS (2) any cumulative additions to all such Debt (including the Term Loans) after May 1, 1996 not included in clause (2)(ii) of the definition "Net Capex" for such period; provided, that except for the calculation of the EBITDA Carryforward Amount, the Debt Reduction Amount for any period shall in no event be less than zero.

Debt Reduction Amount means an amount equal to the sum of (a) --------------------- --- the aggregate amount of prepayments made by the Borrower to the Agent under the Credit Agreement on or after the Third Amendment Effective Date and applied to the reduction of Term Advances pursuant to Section 2.05 plus (b) the aggregate ---- amount of HLS Subordinated Debt that, on or after the Third Amendment Date, is converted into common stock of the Borrower or into other capital stock of the Borrower, in either event, on terms reasonably satisfactory to the Required Lenders (it being understood and agreed that the amount under this clause (b) as of any date shall be determined by the Agent based on an officer's certificate delivered to the Agent on or prior to such date setting forth such amount and on such other evidence, if any, as the Agent or the Required Lenders may reasonably require).

Examples of Debt Reduction Amount in a sentence

• Under no circumstances will BANA be required to make any cash payments as a result of the Debt Reduction or make Debt Reduction Payments exceeding the Debt Reduction Amount.

• Debt Reduction Amount payments made by Borrower to Lender will not be subject to the Prepayment Premium, and may be made by Borrower on or at any time before the last Trading Day of a calendar month, without the requirement of delivery of a notice of prepayment under Section 1.2.

• For Class Members who were assessed an EOBC during the Class Period, and whose accounts were closed while an EOBC was still due and owing, the Debt Reduction Amount will be used by BANA to make Debt Reduction Payments toward the out- standing balance on the account that was closed with the EOBC still due and owing in an amount up to $35 to reflect a credit for the outstanding EOBC.

• Pursuant to Article III, at the Closing, Buyer shall pay an estimated purchase price equal to: the sum of (A) $200,000,000.00 (Two Hundred Million Dollars), (B) the Estimated Net Working Capital, (C) the ICE Payment and (D) the Debt Reduction Amount (which amount may be either a negative or a positive number) (collectively, the “Estimated Purchase Price”).

• The parties agree that in the event Borrower fails to reduce the aggregate outstanding balance under the Outstanding Notes by the Debt Reduction Amount in a given month during the applicable period, then Lender’s sole and exclusive remedy shall be to receive, as liquidated damages, a two- and one-half percent (2.5%) increase to the Outstanding Balance of this Note for such month, which amount shall be added automatically to the Outstanding Balance at such time.

More Definitions of Debt Reduction Amount

Debt Reduction Amount means for any period that amount which is the aggregate amount of payments of principal made during such period on Debt For Borrowed Money (excluding the Obligations, the Existing Bank Debt and the repayment pursuant to Section 3(c) of the First Amendment of term loans made by the Lenders hereunder) of the Parent and its Subsidiaries, Debt under sale-leaseback arrangements of the Parent and its Subsidiaries permitted hereunder and other similar Debt of the Parent and its Subsidiaries permitted hereunder."

Debt Reduction Amount. $28,295,000 “Closing Date” Within ten (10) business days following the satisfaction or waiver of the conditions precedent set forth in Article IV of this Agreement, but in no event later than the Outside Date (as defined below).

Debt Reduction Amount has the meaning ascribed to it in Section 2.2(b)(1).

Debt Reduction Amount shall have the meaning set forth in Section 2.3(a).

Debt Reduction Amount means (i) if the Estimated Working Capital exceeds the Target Working Capital, $0 and (ii) if the Target Working Capital exceeds the Estimated Working Capital, the amount of such excess.

Debt Reduction Amount means an amount equal to **.

Debt Reduction Amount means for any period that amount which is (1) the aggregate amount of payments of principal made during such period on Debt For Borrowed Money (other than the Obligations and the Existing Bank Debt) of the Parent and its Subsidiaries, Debt under sale-leaseback arrangements of the Parent and its Subsidiaries permitted hereunder and other similar Debt of the Parent and its Subsidiaries permitted hereunder LESS (2) any cumulative additions to all such Debt after May 1, 1996 not included in clause (2)(ii) of the definition "Net Capex" for such period; provided, that except for the calculation of the EBITDA Carryforward Amount, the Debt Reduction Amount for any period shall in no event be less than zero.