ECF Percentage definition
ECF Percentage has the meaning specified in Section 2.05(b)(i).
ECF Percentage. 50%; provided, that, with respect to each fiscal year of the Borrower ending after December 31, 2005, the ECF Percentage shall be reduced to 25% if the Consolidated Leverage Ratio as of the last day of such fiscal year is not greater than 1.75 to 1.00.
ECF Percentage means, with respect to any Fiscal Year of the Borrower ending on or after January 31, 2015, 50%; provided that the ECF Percentage shall be reduced to (i) 25%, if the Consolidated Secured Leverage Ratio as of the last day of such Fiscal Year is less than or equal to 3.00 to 1.00 and greater than 2.75 to 1.00 or (ii) 0%, if the Consolidated Secured Leverage Ratio as of the last day of such Fiscal Year is less than or equal to 2.75 to 1.00.
Examples of ECF Percentage in a sentence
For purposes of determining compliance with the Financial Covenant or the ECF Percentage, the financial ratios relevant to such calculation will be calculated on a pro forma basis with respect to events occurring during the applicable Test Period, but not with respect to events occurring after the applicable Test Period.
More Definitions of ECF Percentage
ECF Percentage means, with respect to the prepayment required by Section 2.11(d) with respect to any fiscal year of the Borrower, if the First Lien Leverage Ratio (prior to giving effect to the applicable prepayment pursuant to Section 2.11(d), but after giving effect to any voluntary prepayments made pursuant to Section 2.11(a) or any repurchase pursuant to Section 9.04(g) prior to the date of such prepayment) as of the end of such fiscal year is (a) greater than 4.25 to 1.00, 50% of Excess Cash Flow for such fiscal year, (b) greater than 3.75 to 1.00 but less than or equal to 4.25 to 1.00, 25% of Excess Cash Flow for such fiscal year and (c) equal to or less than 3.75 to 1.00, 0% of Excess Cash Flow for such fiscal year.
ECF Percentage means (i) with respect to any Fiscal Year at the end of which the Leverage Ratio is greater than 4.0 to 1.00, 25%; and (ii) with respect to any Fiscal Year at the end of which the Leverage Ratio is less than or equal to 4.0 to 1.00, 0%.
ECF Percentage. 50%; provided that, with respect to each fiscal year of Holdings commencing with the fiscal year ending December 31, 2013, the ECF Percentage shall be reduced to (a) 25% if the Consolidated Leverage Ratio as of the last day of such fiscal year is less than 3.00 to 1.00 but greater than or equal to 2.00 to 1.00 and (b) 0% if the Consolidated Leverage Ratio as of the last day of such fiscal year is less than 2.00 to 1.00.
ECF Percentage means, for any given Fiscal Year, 50%; provided that if, as of the last day of such Fiscal Year, the Senior Secured Leverage Ratio is (x) less than or equal to 2.00:1.00 but greater than 1.50:1.00, the ECF Percentage shall be 25% or (y) less than or equal to 1.50:1.00, the ECF Percentage shall be 0%.
ECF Percentage with respect to any fiscal year of the Borrower, 50%; provided, that, the ECF Percentage shall be 0% if the Consolidated Net Senior Secured Leverage Ratio as of the last day of such fiscal year is less than 3.0 to 1.0.
ECF Percentage means 50%; provided that the ECF Percentage with respect to Excess Cash Flow for any year shall instead be (x) 25% in the event that the Total Net Leverage Ratio on the last day of such year is less than or equal to 4.50 to 1.00 and greater than 4.00 to 1.00 and (y) 0% in the event that the Total Net Leverage Ratio on the last day of such year is less than 4.00 to 1.00.
ECF Percentage means, with respect to the prepayment required by Section 2.11(c) with respect to any fiscal year of Holdings, if the Total Net Leverage Ratio as of the end of such fiscal year is (a) greater than 2.25:1.00, 50% of Excess Cash Flow for such fiscal year, (b) greater than 1.75:1.00 but less than or equal to 2.25:1.00, 25% of Excess Cash Flow for such fiscal year and (c) equal to or less than 1.75:1.00, 0% of Excess Cash Flow for such fiscal year.