Incremental Facilities Limit definition
Incremental Facilities Limit means, with respect to any proposed incurrence of additional Indebtedness under Section 2.15, an amount equal to the sum of (a) the amount of additional Indebtedness that would cause the Consolidated Leverage Ratio for the period of four consecutive fiscal quarters of the Company most recently ended for which financial statements are available prior to the incurrence of such additional Indebtedness, calculated on a pro forma basis pursuant to Section 1.10 after giving effect to the incurrence of such additional Indebtedness and any transaction to be consummated using the proceeds of such additional Indebtedness and assuming that all commitments in respect of any proposed Incremental Increase are fully drawn at such time, not to exceed 2.50 to 1.00 plus (b) $300,000,000 less the total aggregate initial principal amount (as of the date of incurrence thereof) of all Incremental Increases previously incurred under this clause (b). Unless the Borrowing Agent otherwise notifies the Administrative Agent, if all or any portion of any Incremental Increases would be permitted under clause (a) above on the applicable date of incurrence, such Incremental Increases (or the relevant portion thereof) shall be deemed to have been incurred in reliance on clause (a) above prior to the utilization of any amount available under clause (b) above (it being understood that any Incremental Increase incurred in reliance on clause (b) above will not be included in the pro forma calculation of the Consolidated Leverage Ratio in respect of any Incremental Increase incurred substantially contemporaneously under clause (a) above).
Incremental Facilities Limit means, with respect to any proposed incurrence of additional Indebtedness under Section 5.13, an amount equal to the sum of (a) $150,000,000 less the total aggregate initial principal amount (as of the date of incurrence thereof) of all Incremental Loans, in each case previously incurred under this clause (a), plus (b) such additional amount of Indebtedness that would cause the Total Leverage Ratio as of the most recently completed four (4) Fiscal Quarter period most recently ended prior to the incurrence of such additional Indebtedness (or in the case of any additional Indebtedness, the proceeds of which will finance a substantially concurrent Limited Condition Acquisition, the LCA Test Date), calculated on a Pro Forma Basis after giving effect to the incurrence of such additional Indebtedness and any Limited Condition Acquisition to be consummated using the proceeds of such additional Indebtedness and assuming that any proposed Incremental Loan Commitment is fully drawn at such time, not to exceed 3.00 to 1.00. Unless Borrower otherwise notifies the Administrative Agent, if all or any portion of any Incremental Loans would be permitted under clause (b) above on the applicable date of incurrence, such Incremental Loans (or the relevant portion thereof) shall be deemed to have been incurred in reliance on clause (b) above prior to the utilization of any amount available under clause (a) above. “Incremental Lender” has the meaning assigned thereto in Section 5.13 herein. “Incremental Loan” has the meaning assigned thereto in Section 5.13 herein. “Incremental Loan Commitment” has the meaning assigned thereto in Section 5.13 herein. “Indebtedness” means, with respect to any Person at any date and without duplication, the sum of the following: (a) all liabilities, obligations and indebtedness for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments; (b) all obligations to pay the deferred purchase price of property or services of any such Person (including, without limitation, all obligations under non-competition agreements (other than pursuant to employment or severance agreements), earn-out agreements or similar agreements), except trade payables arising in the ordinary course of business not more than ninety (90) days past due, or that are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with GAAP have been provided for on the ...
Incremental Facilities Limit means $100,000,000 less the total aggregate initial principal amount (as of the date of incurrence thereof) of all previously incurred Incremental Increases.
Examples of Incremental Facilities Limit in a sentence
After giving effect to this Amendment, the amount available under the Incremental Facilities Limit shall be $0.
More Definitions of Incremental Facilities Limit
Incremental Facilities Limit means $100,000,000 less the total aggregate initial principal amount (as of the date of incurrence thereof) of all unfunded Incremental Loan Commitments and Incremental Loans occurring after the Closing Date.
Incremental Facilities Limit means, with respect to any proposed incurrence of additional Indebtedness under Section 5.13, an amount equal to the sum of (a) $150,000,000 less the total aggregate initial principal amount (as of the date of incurrence thereof) of all Incremental Loans, in each case previously incurred under this clause (a), plus (b) such additional amount of Indebtedness that would cause the Total Leverage Ratio as of the most recently completed four (4) Fiscal Quarter period most recently ended prior to the incurrence of such additional Indebtedness (or in the case of any additional Indebtedness, the proceeds of which will finance a substantially concurrent Limited Condition Acquisition, the LCA Test Date), calculated on a Pro Forma Basis after giving effect to the incurrence of such additional Indebtedness and any Limited Condition Acquisition to be consummated using the proceeds of such additional Indebtedness and assuming that any proposed Incremental Loan Commitment is fully drawn at such time, not to exceed 3.00 to 1.00. Unless Borrower otherwise notifies the Administrative Agent, if all or any portion of any Incremental Loans would be permitted under clause (b) above on the applicable date of incurrence, such Incremental Loans (or the relevant portion thereof) shall be deemed to have been incurred in reliance on clause (b) above prior to the utilization of any amount available under clause (a) above.
Incremental Facilities Limit means, (a) $100,000,000 less (b) the total aggregate initial principal amount (as of the date of incurrence thereof) of all previous Incremental Increases incurred pursuant to clause (a) plus (c) an unlimited amount, so long as after giving effect to the incurrence of such Incremental Increases, on a Pro Forma Basis (but without netting the proceeds of any Loans in connection with the Incremental Increase from such calculation and assuming all commitments under such Incremental Increase are fully drawn), the Consolidated Total Net Leverage Ratio does not exceed 3.00 to 1.00.
Incremental Facilities Limit means $100,000,000.
Incremental Facilities Limit means, with respect to any proposed Incremental Increases under Section 2.14, an amount equal to the sum of (a) the amount of Incremental Increases that would cause the Consolidated Total Leverage Ratio as of the last day of the most recently ended fiscal quarter of WKC prior to the incurrence of such Incremental Increases (or in the case of any Incremental Term Loans, the proceeds of which will finance a Limited Condition Transaction, the date determined pursuant to Section 1.13) for which financial statements have been delivered to the Administrative Agent hereunder, calculated on a pro forma basis after giving effect to the incurrence of such Incremental Increases and any Limited Condition Transaction to be consummated using the proceeds of an Incremental Increase consisting of Incremental Term Loans and assuming that the proposed Incremental Increases are fully drawn at such time and after giving effect to any acquisition in connection therewith and all other appropriate pro forma adjustments (but excluding the cash proceeds of any such Incremental Increases for netting purposes), not to exceed 3.00 to 1.00, plus (b) $350,000,000 less the total aggregate initial principal amount (as of the date of incurrence thereof) of all Incremental Increases previously incurred under this clause (b) after the Amendment No. 11
Incremental Facilities Limit means, with respect to any proposed incurrence of additional Indebtedness under Section 2.14, an amount equal to (a) the greater of (i) $100,000,000 and (ii) 100% of EBITDA as of the last day of the most recently completed period of four consecutive fiscal quarters less (b) the total aggregate initial principal amount (as of the date of incurrence thereof) of all Incremental Commitments, in each case previously incurred.
Incremental Facilities Limit means, with respect to any proposed Incremental Loan Commitments, Incremental Loans and/or Incremental Notes under Section 2.8 , an amount equal to the sum of (a) the amount of Incremental Loan Commitments, Incremental Loans and/or Incremental Notes that would cause the Consolidated Senior Secured Leverage Ratio as of the most recently ended Fiscal Quarter prior to the incurrence of such Incremental Loan Commitments, Incremental Loans and/or Incremental Notes (or in the case of any Incremental Loan Commitments, Incremental Loans and/or Incremental Notes, the proceeds of which will finance a Limited Condition Transaction, the date determined pursuant to Section 1.7 ) for which financial statements have been delivered to the Administrative Agent hereunder, calculated on a pro forma basis after giving effect to the incurrence of such Incremental Loan Commitments, Incremental Loans and/or Incremental Notes and any Limited Condition Transaction to be consummated using the proceeds of such Incremental Loan Commitments, Incremental Loans and/or Incremental Notes and assuming that the proposed Incremental Loan Commitments, Incremental Loans and/or Incremental Notes are fully drawn at such time and after giving effect to the use of proceeds thereof, not to exceed 3.50 to 1.00 plus , (b)