Mandatory Prepayment Percentage means (a) 50%, if the Total Leverage Ratio on a Pro Forma Basis, after giving effect to the use of the proceeds of the issuance of any debt or equity securities, is greater than 2.50:1.00 as of any date of determination or (b) 0%, if the Total Leverage Ratio on a Pro Forma Basis, after giving effect to the use of the proceeds of the issuance of any debt or equity securities, is less than or equal to 2.50:1.00 as of any date of determination.
Mandatory Prepayment Percentage means, with respect to any Fiscal Year of the Borrowers, (a) 50%, if the Total Leverage Ratio on a Pro Forma Basis equals or exceeds 2.50:1.00 as of the end of such Fiscal Year, (b) 25%, if the Total Leverage Ratio on a Pro Forma Basis equals or exceeds 2.00:1.00, but is lower than 2.50:1.00 as of the end of such Fiscal Year and (c) 0%, if the Total Leverage Ratio on a Pro Forma Basis is lower than 2.00:1.00 as of the end of such Fiscal Year.
Mandatory Prepayment Percentage means twenty percent (20%) if the applicable Financing Transaction occurs or is consummated on or prior to August 22, 2020, and otherwise, thirty percent (30%).
Examples of Mandatory Prepayment Percentage in a sentence
For the avoidance of doubt, if the Mandatory Prepayment Percentage of any applicable Financing Net Proceeds exceed the Outstanding Amount of this Note, the Company shall not be required to pay to the Holder more than the Outstanding Amount of this Note.
More Definitions of Mandatory Prepayment Percentage
Mandatory Prepayment Percentage. 50%; provided that, with respect to each fiscal year of the Borrower ending on or after December 31, 2005, the Mandatory Prepayment Percentage shall be reduced to (i) 25% if the Consolidated Total Leverage Ratio as of the last day of such fiscal year is not greater than 2.25 to 1.0 and (ii) 0% if the Consolidated Total Leverage Ratio as of the last day of such fiscal year is not greater than 1.50 to 1.0.
Mandatory Prepayment Percentage as at any Calculation Date means that percentage determined with reference to the Financial Undertakings Matrix and the relevant Ratio Certificate delivered in respect of that Calculation Date to be applied by the Borrower in Mandatory Prepayment;
Mandatory Prepayment Percentage means (A) if the Vendor Financing Facility has been terminated, twenty-five percent (25%), or (B) if the Vendor Financing Facility is outstanding, either (X) twenty-five percent (25%), if (I) the relevant Offering is consummated after the third anniversary of the Effective Date and the Borrower's Leverage Ratio for the immediately preceding four full fiscal-quarter period is less than or equal to 5:1 or (ii) AT&T and the lenders under the Vendor Financing Facility shall have negotiated a prepayment provision, allowing AT&T to be prepaid without the criteria set forth in the immediately preceding clause (i) having been met (but the amount of such negotiated prepayment, together with the amount of any prepayment required to be made to the lenders under the Vendor Financing Facility following such negotiation, shall in no event be greater than the aggregate amount required to be prepaid by ATTL and its Subsidiaries (1) to the Lenders under this clause 3(b)(ii), plus (2) under the Common Agreement), or (Y) zero percent (0%), if clause (x) does not apply, provided that, in any case, with respect to an "Agency Capital Market Transaction" (as defined in the Common Agreement) the Mandatory Prepayment Percentage shall be 0%.
Mandatory Prepayment Percentage. (a) with respect to Net Cash Proceeds of Asset Sales, 85% until the aggregate amount of Net Cash Proceeds of Asset Sales retained by the Loan Parties equals or exceeds $6,334,950 minus the amount, if any, received by the Borrower from the escrow accounts established in connection with the sale of a portion of its assets to Hormel Foods Corporation pursuant to the Escrow Agreement dated as of April 27, 2001, among Hormel Foods Corporation, the Borrower and U.S. Bank Trust National Association, and 100% thereafter, and (b) with respect to Net Cash Proceeds of a Recovery Event, 100%.
Mandatory Prepayment Percentage shall have the meaning assigned and ascribed to such term as set forth in the Leverage Matrix.
Mandatory Prepayment Percentage and "Swing Line Commitment" appearing in Section 1.1 of the Credit Agreement shall be amended to read as follows:
Mandatory Prepayment Percentage. (a) with respect to Net Cash Proceeds of Asset Sales, 100%, and (b) with respect to Net Cash Proceeds of a Recovery Event, 100%.