Permitted Add Back definition

Permitted Add Back means an amount of Capital Expenditures incurred during the fiscal year of the Borrower ending December 31, 2005 by the Borrower that can be characterized as financed Capital Expenditures for purposes of calculating the covenant
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Permitted Add Back means any amount that the lenders who are parties to the Commitment Letters for debt financing (or such other lenders as may provide debt financing to the Buyer) allow to be counted as an add-back to or an exclusion from the calculation of EBITDA (or any comparable metric used by the lenders) that has the effect of increasing EBITDA, but only if, as a result of such allowance, the lenders do not alter the terms or the pricing of the debt financing in any manner that is adverse to the Buyer.
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Permitted Add Back means an amount of unfinanced Capital Expenditures and certain legal fees related to Futurelogic patent infringement litigation incurred by the Borrower and added back to Operating Cash Flow in calculating the covenant set forth in Section 7.1 in the amounts and for the fiscal periods provided for in Section 7.1 of this Agreement.
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Examples of Permitted Add Back in a sentence

  • Borrower shall, maintain a ratio of Operating Cash Flow plus the applicable Permitted Add Back as provided below to Total Debt Service at the end of each fiscal quarter of not less than 1.25 to 1.00.

  • Borrower shall, maintain a ratio of Operating Cash Flow for the preceding four fiscal quarters plus the applicable Permitted Add Back as provided below to Total Debt Service at the end of each fiscal quarter of not less than 1.25 to 1.00.


More Definitions of Permitted Add Back

Permitted Add Back means an amount of Capital Expenditures incurred during the fiscal year of the Borrower ending December 31, 2005 by the Borrower that can be characterized as financed Capital Expenditures for purposes of calculating the covenant set forth in Section 7.1, but only in the amounts and for the fiscal periods provided for in Section 7.1 of this Agreement.
Sample 1
Permitted Add Back means any amount that the lenders who are parties to the Commitment Letters for debt financing (or such other lenders as may provide debt financing to the Buyer) allow to be counted as an add-back to or an exclusion from the calculation of EBITDA (or any comparable metric used by the lenders) that has the effect of increasing EBITDA, but only if, as a result of such allowance, the lenders do not alter the terms or the pricing of the debt financing in any manner that is adverse to the Buyer.‌
Sample 1
Permitted Add Back means an amount of unfinanced Capital Expenditures and certain legal fees related to Futurelogic patent infringement litigation incurred by the Borrower and added back to Operating Cash Flow in calculating the covenant set forth in Section
Sample 1

Related to Permitted Add Back

  • Required Additional Debt Terms means, with respect to any Indebtedness, (a) such Indebtedness does not mature earlier than 180 days after the Latest Maturity Date or have a Weighted Average Life to Maturity less than the greatest Weighted Average Life to Maturity of the Notes outstanding at the time of incurrence of such Indebtedness, (b) such Indebtedness does not have mandatory prepayment or redemption provisions (other than customary asset sale proceeds events, insurance and condemnation proceeds events, change of control offers or events of default) that could result in the prepayment or redemption of such Indebtedness prior to the Maturity Date, (c) such Indebtedness is not guaranteed by any entity that is not the Company or a Note Guarantor, (d) such Indebtedness that is secured (i) is not secured by any assets not securing the Notes Obligations, (ii) is secured on a junior basis to the Liens securing the Notes Obligations and is subject to the relevant Intercreditor Agreement(s) and (iii) is subject to security agreements relating to such Indebtedness that are substantially the same as the Collateral Documents (with such differences as are reasonably satisfactory to the Required Holders), (e) with respect to any Indebtedness incurred pursuant to Section 4.10(a)(xvi), such Indebtedness does not have provisions requiring the payment of amortization prior to the Latest Maturity Date and (f) the terms and conditions of such Indebtedness (excluding pricing, interest rate margins, rate floors, discounts, fees, premiums and, subject to clauses (a) and (b) above, prepayment or redemption provisions, are not materially more favorable (when taken as a whole) to the lenders or investors providing such Indebtedness than the terms and conditions of this Indenture (when taken as a whole) are to the Holders of the Notes (except for covenants or other provisions applicable only to periods after the Maturity Date at such time) (it being understood that, to the extent that any financial maintenance covenant is added for the benefit of any such Indebtedness, no consent shall be required by the Trustee, the Notes Collateral Agent or any of the Holders of the Notes if such financial maintenance covenant is either (i) also added for the benefit of any Notes remaining outstanding after the issuance or incurrence of any such Indebtedness in connection therewith or (ii) only applicable after the Maturity Date at such time); provided that an Officer’s Certificate delivered to the Trustee at least five Business Days prior to the incurrence of such Indebtedness, together with a reasonably detailed description of the material terms and conditions of such Indebtedness or drafts of the documentation relating thereto, stating that the Company has determined in good faith that such terms and conditions satisfy the foregoing requirement, shall be conclusive evidence that such terms and conditions satisfy the foregoing requirement unless the Trustee, acting at the direction of the Required Holders, notifies the Company within such five Business Day period that it disagrees with such determination (including a reasonable description of the basis upon which it disagrees).

  • Permitted Convertible Indebtedness means indebtedness of Borrower that is convertible into common stock of Borrower (or other securities or property following a merger event or other change of the common stock of Borrower) and/or cash (in an amount determined by reference to the price of such common stock).

  • Other Permitted Indebtedness means (a) accrued expenses and current trade accounts payable incurred in the ordinary course of any Obligor’s business which are not overdue for a period of more than 90 days or which are being contested in good faith by appropriate proceedings, (b) Indebtedness (other than Indebtedness for borrowed money) arising in connection with transactions in the ordinary course of any Obligor’s business in connection with its purchasing of securities, derivatives transactions, reverse repurchase agreements or dollar rolls to the extent such transactions are permitted under the Investment Company Act and the Investment Policies, provided that such Indebtedness does not arise in connection with the purchase of Portfolio Investments other than Cash Equivalents and U.S. Government Securities and (c) Indebtedness in respect of judgments or awards that have been in force for less than the applicable period for taking an appeal so long as such judgments or awards do not constitute an Event of Default under clause (l) of Article VII.

  • Permitted Indebtedness means, without duplication, each of the following:

  • Securitization Repurchase Obligation means any obligation of a seller of Securitization Assets in a Qualified Securitization Financing to repurchase Securitization Assets arising as a result of a breach of a Standard Securitization Undertaking, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller.