Excess Cash Flow Percentage. 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.
Excess Cash Flow Percentage shall have the meaning assigned to such term in Section 2.10(f).
Excess Cash Flow Percentage means, as of any date of determination (a) if the First Lien Leverage Ratio is greater than 2.75:1.00, 50%, (b) if the First Lien Leverage Ratio is less than or equal to 2.75:1.00 and greater than 2.25:1.00, 25%, and (c) if the First Lien Leverage Ratio is less than or equal to 2.25:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Excess Cash Flow that is required to be applied to prepay the Term Loans under Section 2.05(b)(i) for any fiscal year, the First Lien Leverage Ratio shall be determined on a Pro Forma Basis on the scheduled date of prepayment (after giving effect to all voluntary prepayments, Permitted Acquisitions, Investments and Capital Expenditures described in Section 2.05(b)(i)(1), (2), (3) and (4) for such Excess Cash Flow Period and including any such applicable After Year-End Transactions as of the date of such prepayment).
Examples of Excess Cash Flow Percentage in a sentence
Not later than the 90th day after the end of each Fiscal Year, commencing with the Fiscal Year ending on December 31, 2021, the Borrower shall prepay the Term Loans in an aggregate principal amount equal to the applicable Excess Cash Flow Percentage multiplied by the Excess Cash Flow for such Fiscal Year.
More Definitions of Excess Cash Flow Percentage
Excess Cash Flow Percentage means 50%. No payment of any Loans shall be required under this Section 2.10(f) if (i) on the date such prepayment is required to be made, no Event of Default has occurred and is continuing and (ii) the Senior Secured Net Leverage Ratio, as of the last day of such Excess Cash Flow Period, is less than or equal to 3.0:1.0.
Excess Cash Flow Percentage means, as of the date of determination, (a) if the Consolidated Leverage Ratio as of the last day of the applicable fiscal year of the Company is greater than or equal to 3.75:1.00, 50%, (b) if the Consolidated Leverage Ratio as of the last day of the applicable fiscal year of the Company is less than 3.75:1.00 but greater than or equal to 3.25:1.00, 25% and (c) if the Consolidated Leverage Ratio as of the last day of the applicable fiscal year of the Company is less than 3.25:1.00, 0%.
Excess Cash Flow Percentage means 50.0% (or, if the Senior Secured Leverage Ratio as of the last day of the applicable fiscal year shall have been (x) equal to or greater than 2.50 to 1.00 but less than 3.00 to 1.00, 25%, or (y) less than 2.50 to 1.00, 0%).
Excess Cash Flow Percentage means, with respect to an Excess Cash Flow Period, 50%; provided that (a) if the Total Net Leverage Ratio at the end of the applicable Excess Cash Flow Period is greater than 3.40:1.00 but less than or equal to 4.25:1.00, such percentage shall be 25% and (b) if the Total Net Leverage Ratio at the end of the applicable Excess Cash Flow Period is less than or equal to 3.40:1.00, such percentage shall be 0%.
Excess Cash Flow Percentage means (a) 50% if the Consolidated Total Lease Adjusted Leverage Ratio is greater than or equal to 4.75:1.00, (b) 25% if the Consolidated Total Lease Adjusted Leverage Ratio is less than 4.75:1.00, but greater than or equal to 4.00:1.00, and (c) 0% if the Consolidated Total Lease Adjusted Leverage Ratio is less than 4.00:1.00.
Excess Cash Flow Percentage with respect to any fiscal year of the Parent Borrower, the Excess Cash Flow Percentage determined based upon the Consolidated Senior Secured Leverage Ratio as at the last day of such fiscal year in accordance with the chart set forth below: Consolidated Senior Secured Leverage Ratio Excess Cash Flow Percentage Less than 3.50 0 % Less than 4.00 but greater than or equal to 3.50 25 % Greater than or equal to 4.00 50 %
Excess Cash Flow Percentage means, as of any date of determination, (i) 50% if the Total Leverage Ratio is greater than or equal to 3.5x as of the most recent determination date, (ii) 25% if the Total Leverage Ratio is less than 3.5x but greater than 3.0x as of the most recent determination date and (iii) 0% if the Total Leverage Ratio is 3.0x or less as of the most recent determination date.