Incurrence Limitation definition

Incurrence Limitation means, on any date of determination, the product of (x) 3.00 multiplied by (y) the EBITDA of the Borrower for the four (4) most recently completed fiscal quarters for which financial statements have been delivered pursuant to Section 5.8. Notwithstanding the foregoing, (x) from the date hereof to the date on which the certificate of the Borrower is delivered pursuant to Section 5.8 for the Borrower's fiscal quarter ending September 30, 2000 (or, if earlier, the date on which the Borrower delivers a certificate pursuant to clause (x) of the definition of "Applicable Margin" for the fiscal quarter ending September 30, 2000), the Incurrence Limitation shall be the product of (i) 3.00 multiplied by (ii) the EBITDA of the Borrower for the two (2) fiscal quarters ended September 30, 2000 multiplied by (iii) two, and (y) from the date on which the certificate referred to in clause (x) above is delivered to the date on which the certificate of the Borrower is delivered pursuant to Section 5.8 for the Borrower's fiscal quarter ending December 31, 2000 (or, if earlier, the date on which the Borrower delivers a certificate pursuant to clause (x) of the definition of "Applicable Margin" for the fiscal quarter ending December 31, 2000), the Incurrence Limitation shall be the product of (i) 3.00 multiplied by (ii) the EBITDA of the Borrower for the three (3) fiscal quarters ended December 31, 2000 multiplied by (iii) four-thirds.
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Incurrence Limitation. (a) on any date of determination prior to May 30, 1997, the greater of (i) $250,000,000 and (ii) the product of (x) 3.25 multiplied by (y) the Annualized EBITDA on such date of determination, and (b) from and after May 30, 1997, an amount not to exceed the product of (i) 3.25 multiplied by (ii) the Consolidated EBITDA for the most recently ended Calculation Period for which financial statements have been delivered pursuant to subsection 7.1.
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Incurrence Limitation on any date of determination, the product of (x) 5.35 (or, from and after the Equity Adjustment Date, 5.00) multiplied by (y) the Consolidated EBITDA for the most recently ended Calculation Period for which financial statements have been delivered pursuant to subsection 7.1.
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Examples of Incurrence Limitation in a sentence

  • The Company has not received any communications, written, or verbal, alleging that the Company has violated or infringed on or, by conducting its business or as currently proposed to be conducted, would violate or infringe on any intellectual property of any other person or entity.

  • No requested Loan shall be made if the sum of the Aggregate Outstandings (after giving effect to such requested Loan) would exceed the lesser of (a) the maximum amount of the Revolving Credit [as it may be reduced pursuant to Subsection 2.1(d)] or (b) the Incurrence Limitation then in effect.

  • If on any date (including any date on which a certificate of the Borrower is delivered pursuant to Section 5.8) the sum of the Aggregate Outstandings exceeds the lesser of (i) the maximum amount of the Revolving Credit [as it may be reduced pursuant to Subsection 2.1(d)] or (ii) the then applicable Incurrence Limitation, then, without notice or demand, the Borrower shall, no later than fifteen (15) days following such date, prepay the Loans in an amount equal to such excess.

  • No Letters of Credit may be issued hereunder to the extent that such issuance would cause the Aggregate Outstandings to exceed the lesser of (a) the maximum amount of the Revolving Credit then in effect or (b) the then current Incurrence Limitation.

  • Each of the Administrative Agent, the Co-Arranger and the Lenders hereby waives compliance by the Borrower with the requirements of subsections 2.4, 3.1(a), 4.1(c) and 7.2(b)(ii)(y) during the period beginning the Amendment Effective Date through and including January 31, 1999 to the extent and only to the extent that such subsections relate to the Incurrence Limitation.


More Definitions of Incurrence Limitation

Incurrence Limitation on any date of determination, the product of (x) 5.35 (or, from and after the Equity Adjustment Date, 5.00) multiplied by (y) the Consolidated EBITDA for the most recently ended Calculation Period for which financial statements have been delivered pursuant to subsection 7.1. Notwithstanding the foregoing, from the Closing Date to the date on which the certificate of a Responsible Officer of the Borrower is delivered pursuant to subsection 7.2(b) for the Borrower's fiscal quarter ending June 30, 1999 (or, if earlier, the date on which a Responsible Officer of the Borrower delivers a certificate pursuant to clause (x) of the definition of "Applicable Margin" for the fiscal quarter ending June 30, 1999), the Incurrence Limitation shall be the product of (i) 5.35 multipled by (ii) Consolidated EBITDA for the Calculation Period ended March 31, 1999, it being agreed that for such purposes Consolidated EBITDA for each of the second, third and fourth quarters of fiscal year 1998 and the first quarter of fiscal year 1999 shall be deemed to be $23,500,000 and Consolidated EBITDA for the second quarter of fiscal year 1999 shall be calculated in accordance with the definiton thereof.
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