Parity Lien Cap means as of any date of determination, (i) the amount of Parity Lien Debt that may be incurred by the Issuer or any Guarantor such that, after giving pro forma effect to such incurrence and the application of the net proceeds therefrom the Secured Leverage Ratio would not exceed 2.25 to 1.0 plus (ii) $1.00 of additional Parity Lien Debt for each $1.00 of gross cash proceeds received by the Company since the date of the indenture from the issue or sale of Qualifying Equity Interests of the Company, where the net cash proceeds of such issue or sale have been used to repurchase, redeem, defease or otherwise retire for value 13% Notes plus (iii) $1.00 of additional Parity Lien Debt for each $1.00 of gross cash proceeds received by the Company since the date of the indenture from the issue or sale of Indebtedness of the Company, where the net cash proceeds of such issue or sale have been used to repurchase, redeem, defease or otherwise retire for value 13% Notes.”
Parity Lien Cap means the greater of (1) the aggregate amount of (x) Indebtedness permitted to be incurred by Section 4.09(b)(1) plus (y) the aggregate principal amount of the Notes issued on the Issue Date plus (z) $50.0 million or (2) the amount of Parity Lien Debt that may be incurred by the Company such that, after giving pro forma effect to such incurrence and the application of the net proceeds therefrom, the Consolidated Secured Debt Ratio for the period of the most recently ended four full consecutive fiscal quarters for which internal financial statements are available immediately preceding the date of such incurrence would not exceed 3.30 to 1.00 (and any Refinancing Indebtedness incurred in respect thereof); provided that this clause (2) shall permit the incurrence of additional Indebtedness as Parity Lien Debt if, at the time of incurrence of such Indebtedness and after giving pro forma effect to the application of the net proceeds therefrom, the Consolidated Secured Debt Ratio for the period of the most recently ended four full consecutive fiscal quarters for which internal financial statements are available immediately preceding the date of such incurrence would be greater than 3.30 to 1.00 but less than 3.55 to 1.00, so long as (a) the proceeds of the Obligations in respect of any such Indebtedness which are so secured pursuant to this proviso shall be applied to make Investments and acquisitions that are permitted by the indenture and (b) the Liens securing such Indebtedness shall extend solely to such Investments or acquired property or the Capital Stock of the acquired entity, and the proceeds and products thereof (and improvements thereon) and any Refinancing Indebtedness incurred in respect thereof.
Parity Lien Cap means the aggregate principal amount (if any) of Parity Lien Debt that, as of the date of incurrence and after giving pro forma effect to the application of the net proceeds therefrom, can be incurred without the Secured Leverage Ratio of the Issuer exceeding 3.75 to 1.00.
More Definitions of Parity Lien Cap
Parity Lien Cap means as of any date of determination, (1) the amount of Parity Lien Debt that may be incurred by the Issuer or any Guarantor such that, after giving pro forma effect to such incurrence and the application of the net proceeds therefrom the Secured Leverage Ratio would not exceed 2.25 to 1.0 plus (2) $1.00 of additional Parity Lien Debt for each $1.00 of gross cash proceeds received by the Company since the date of this Indenture from the issue or sale of Qualifying Equity Interests of the Company, where the net cash proceeds of such issue or sale have been used to repurchase, redeem, defease or otherwise retire for value 13% Notes plus (3) $1.00 of additional Parity Lien Debt for each $1.00 of gross cash proceeds received by the Company since the date of this Indenture from the issue or sale of Indebtedness of the Company, where the net cash proceeds of such issue or sale have been used to repurchase, redeem, defease or otherwise retire for value 13% Notes plus (4) after the date of the Second Supplemental Indenture, $75 million plus (5) the amount of Exchange Additional Notes issued following the consummation of the transactions contemplated by the Exchange Agreement that are issued in exchange for Initial Notes that remain outstanding following the consummation of such transactions contemplated by the Exchange Agreement at an exchange ratio not to exceed $1.09 principal amount of Exchange Additional Notes for each $1.00 principal amount of Initial Notes so exchanged. For avoidance of doubt, the calculation of the amount specified in clause (1) of this definition shall include all Notes and other Parity Lien Debt incurred or outstanding prior to the date of determination, and still outstanding at such time, reduced by the principal amount of such Notes or other Parity Lien Debt to be retired or repaid from the net proceeds of the Indebtedness incurred on the date of determination.
Parity Lien Cap means the sum of (1) the Notes outstanding as of the date of determination plus (2) $275 million.
Parity Lien Cap means the sum of (1) the Notes outstanding as of the date of determination plus (2) $275 million. “Priority Lien Cap” means $275 million.
Parity Lien Cap means as of any date of determination, the greater of (i) the amount of Parity Lien Debt that may be incurred by the Company such that, after giving pro forma effect to such incurrence and the application of the net proceeds therefrom, the Secured Leverage Ratio would not exceed 3.00 to 1.00 and (ii) solely with respect to an incurrence of Permitted Refinancing Indebtedness under clause (3)(a)(ii) of the definition of Permitted Debt, the amount of Parity Lien Debt then outstanding under such clause (3)(a)(ii).
Parity Lien Cap means as of any date of determination, (1) the amount of Parity Lien Debt that may be incurred by the Issuer or any Guarantor such that, after giving pro forma effect to such incurrence and the application of the net proceeds therefrom the Secured Leverage Ratio would not exceed 2.25 to 1.0 plus
Parity Lien Cap means as of any date of determination, (i) the amount of Parity Lien Debt that may be incurred by the Issuer or any
Parity Lien Cap means, as of any date of determination, the sum of (1) the aggregate principal amount of the Notes (excluding any Additional Notes) plus (2) the amount of Additional Notes or other Parity Lien Debt Incurred pursuant to clause 3(b) of the definition of “Permitted Debt” plus (3) the amount of Parity Lien Debt that may be Incurred by the Issuer or any of the Guarantors such that, after giving pro forma effect to such Incurrence and the application of net proceeds therefrom, the Consolidated Senior Secured Leverage Ratio would not exceed 2.00 to 1.00 plus (4) $25.0 million.