Permitted Dividend Amount means, for any taxable period, the amount by which the Dividend Limitation for the taxable year exceeds the aggregate Permitted Shareholder Tax Distributions paid by the Borrower for such year pursuant to Section 7.5(m)(i) or 7.6(a) hereof, including distributions paid or loans made by the Borrower within 105 days after the end of the taxable year for which a distribution is paid or loan is made; provided, that:
Permitted Dividend Amount means, at any time, an amount equal to the sum of (a) $40,000,000, plus (b) if positive, an amount equal to 50% of Consolidated Net Income for the period from the Restatement Effective Date to the end of the most recently ended fiscal quarter for which financial statements have been delivered pursuant to Section 7.01(a) or (b), minus if negative, 100% of such loss for such period.
Permitted Dividend Amount means, in respect of any Subject Fiscal Quarter, $8,250,000.
Examples of Permitted Dividend Amount in a sentence
Commencing June 30, 2019, the Permitted Dividend Amount can increase by 10% per share per year, from the prior fiscal year.
So long as no Default or Event of Default exists or would result therefrom, the Borrower may declare or pay dividends in excess of the Permitted Dividend Amount if, after giving pro forma effect to the payment of such dividend by treating such dividend as a deduction to EBITDA, the Leverage Ratio for the most recent period of four consecutive fiscal quarters for which financial statements have been delivered pursuant to Section 5.04 would be less than 2.5 to 1.
More Definitions of Permitted Dividend Amount
Permitted Dividend Amount means, for each fiscal quarter of the Borrower, the sum of (x) Specified EBITDA for such fiscal quarter and (y) the lesser of zero or the Negative Permitted Dividend Carry Forward Amount for such fiscal quarter, minus the sum of the (a) the Fleet Maintenance Reserve for such fiscal quarter, (b) the Fleet Renewal Reserve for such fiscal quarter, (c) net interest expenses for such fiscal quarter and (d) cash taxes for such fiscal quarter.
Permitted Dividend Amount means, for each fiscal quarter of the Borrower, (i) the sum of (x) Available Cash for such fiscal quarter and (y) the Permitted Dividend Carry Forward Amount for the immediately preceding fiscal quarter minus (ii) the sum of (a) the Fleet Maintenance Reserve for such fiscal quarter (b) the Fleet Renewal Reserve for such fiscal quarter, and (c) Consolidated Interest Expense for such fiscal quarter; provided that the aggregate amount of all Dividends made pursuant to sub-clause (y) and Sections 9.03(ii) and (iii) shall not exceed US$150,000,000.
Permitted Dividend Amount shall have the meaning set forth in Section 6.2(a)(ii).
Permitted Dividend Amount means, for any taxable period, the amount (determined by a Tax Accountant) by which the Dividend Limitation for the taxable year exceeds the aggregate Permitted Shareholder Tax Distributions paid by the Company for such year pursuant to Section 4.07, including distributions paid or loans made by the Company within 105 days after the end of the taxable year for which a distribution is paid or loan is made; provided, that:
Permitted Dividend Amount means, on any date of determination (the “Reference Date”), an amount determined on a cumulative basis equal to (a) an amount (which shall not be less than zero) equal to 50% of “Adjusted Earnings Attributable to Ordinary Shareholders” as reflected in the Alternative Performance Measures section of the Parent’s annual report for the period (taken as one accounting period and calculated in a manner substantially consistent with the calculation thereof in the Parent’s annual report for the fiscal year ended October 31, 2019) from November 1, 2019 to and including the last day of the most recently ended fiscal quarter of the Borrower prior to the Reference Date for which consolidated financial statements of the Borrower are available; minus (b) the aggregate amount of Restricted Payments made using the Permitted Dividend Available Amount pursuant to Section 6.08(c), during the period from and including the Business Day immediately following the First Amendment Effective Date through and including the Reference Date (without taking account of the intended usage of the Permitted Dividend Amount on such Reference Date).
Permitted Dividend Amount means an amount equal to the principal amount of Permitted Subordinated Debt less transaction fees, costs and expenses associated therewith.
Permitted Dividend Amount set forth in Annex A to the Credit Agreement is hereby deleted.