Prepayment Conditions definition
Prepayment Conditions means that with respect to any payment or prepayment under Section 7.2.15 or 7.2.21 (i) no Default, Borrowing Base Deficiency or EPL Borrowing Base Deficiency exists or will be caused thereby, (ii) at the time of such payment or prepayment the sum of (x) an amount equal to the difference of (A) the lesser of the Aggregate Available Commitment and the Available Borrower Borrowing Base less (B) the aggregate of all Credit Exposure of the Lenders plus (y) the aggregate amount of all unencumbered (other than an encumbrance granted under the Loan Documents) cash and Cash Equivalent Investments of the Borrower and its Subsidiaries (other than, prior to Disqualifying Condition Termination, the EPL Obligors) after giving effect to such payment or prepayment shall equal or exceed $150,000,000 and (iii) the aggregate amount of all such payments and prepayments from and after the Eighth Amendment Effective Date shall not exceed the aggregate of (x) the amount of Permitted Unsecured Indebtedness incurred after April 1, 2014 plus (y) the aggregate amounts of the Senior Unsecured Debt Refinanced on and after April 1, 2014 plus (z) the aggregate amount of 2014 Debt issued by the Borrower.
Prepayment Conditions means that with respect to any payment or prepayment under Section 7.2.15 or 7.2.21 (i) no Default, Borrowing Base Deficiency or EPL Borrowing Base Deficiency exists or will be caused thereby and (ii) at the time of such payment or prepayment the sum of (x) an amount equal to the difference of (A) the lesser of the Aggregate Available Commitment and the Available Borrower Borrowing Base less (B) the aggregate of all Credit Exposure of the Lenders plus (y) the aggregate amount of all unencumbered (other than an encumbrance granted under the Loan Documents and any of the Permitted Secured Debt Documents) cash and Cash Equivalent Investments of the Borrower and its Subsidiaries (other than, prior to Disqualifying Condition Termination, the EPL Obligors) after giving effect to such payment or prepayment shall equal or exceed $250,000,000; provided, however, no proceeds of any Credit Extensions shall be applied to any such payment or prepayment.
Prepayment Conditions. “Refinance, Refinancing or Refinanced”, “Secured Debt” and “Stated Maturity Date” and replacing them in their entirety with the following:
Examples of Prepayment Conditions in a sentence
Borrowers voluntarily may prepay the Principal Balance in whole or in part at any time after the third Loan Year subject to the satisfaction of the Voluntary Prepayment Conditions.
Such Put Note may be prepaid by the Company in whole at any time or in part from time to time without premium or penalty and shall otherwise be in the form acceptable to the Board; provided, however, that if at any time after such Put Note has been issued the Prepayment Conditions are satisfied, the Put Note shall then be prepaid in full at such time.
Notwithstanding the provisions of this Section 2.11(a), except as provided in Section 2.09 or Sections 2.11(b), only if the FILO Prepayment Conditions are met may the Borrowers repay or prepay amounts owed with respect to the FILO Loans; provided, however, that, any such repayment or prepayment shall not reduce or terminate the FILO Commitments except to the extent provided in such Sections.
Such Call Note may be prepaid by the Company in whole at any time or in part from time to time without premium or penalty and shall otherwise be in the form acceptable to the Board; provided, however, that if at any time after such Call Note has been issued the Prepayment Conditions are satisfied, the Call Note shall then be prepaid in full at such time.
Contract shall be effective on July 1, 2016 and shall continue for one year from that date unless otherwise terminated by County.
More Definitions of Prepayment Conditions
Prepayment Conditions. (a) Availability (i) at all times during the 30-day period preceding any payment, prepayment, redemptions, acquisition for value, refund, refinance or exchange and (ii) on the date of such payment, prepayment, redemption, acquisition for value, refund, refinance or exchange and after giving effect thereto, shall be equal to or greater than the sum of (x) (1) 20% of the Borrowing Base then in effect at any time that the Refinery Asset Borrowing Base Component is greater than $0 and (2) 15% of the Borrowing Base then in effect at any time that the Refinery Asset Borrowing Base Component is equal to $0 plus (y) the amount of any FILO Loans then outstanding; and (b) if Availability as referred to in clause (a)(i) or (ii) above is less than the sum of (x) (1) 30% of the Borrowing Base then in effect at any time that the Refinery Asset Borrowing Base Component is greater than $0 and (2) 25% of the Borrowing Base then in effect at any time that the Refinery Asset Borrowing Base Component is equal to $0 plus (y) the amount of any FILO Loans then outstanding (which Availability under clause (a)(i) above shall be, for purposes of this clause (b) only, calculated on an average basis), Borrowers shall have demonstrated to the reasonable satisfaction of Agent, based on adjustments made in good faith using reasonable assumptions, that the Fixed Charge Coverage Ratio on a Pro Forma Basis (after giving effect to such payment, prepayment, redemption, acquisition for value, refund, refinance and/or exchange) shall be at least 1.0 to 1.0.
Prepayment Conditions. The satisfaction of each of the following conditions: (a) Agent shall have received five (5) days prior written notice of any intended prepayment, which notice shall state the amount of such intended prepayment, (b) no Event of Default shall have occurred and be continuing or would result from any such prepayment, (c) Excess Availability would, as of such date (and after giving effect to such prepayment), exceed $35,000,000, and, for the thirty (30) day period prior to the proposed prepayment, the Borrowers, on a pro forma basis (determined as if the proposed prepayment had been made on the first day of such period), had average Excess Availability in excess of $35,000,000 and (d) the Borrowers are in pro forma compliance with the Fixed Charge Coverage Ratio after giving effect to such prepayment (determined as if the amount of such Prepayment is a Fixed Charge for purposes of calculating the Fixed Charge Coverage Ratio).
Prepayment Conditions means with respect to a payment (whether (x) voluntary or mandatory, (y) in respect of cash settlement, net cash settlement or cash payment in lieu of issuing fractional shares with respect to Convertible Notes Debt, or (z) a prepayment, redemption, retirement, defeasance or acquisition) either: (a)(i) no Event of Default exists or would result therefrom, (ii) Excess Availability is greater than an amount equal to 20% of the aggregate Revolver Commitments immediately after giving effect to any such payment, and (iii) Borrowers shall have delivered to Agent one (1) Business Day’s prior written notice of any such payment accompanied by detailed calculations confirming that Borrowers are in compliance with the requirements set forth in this clause (a); or (b) if Excess Availability is less than or equal to an amount equal to 20% of the aggregate Revolver Commitments immediately after giving effect to any such payment, (i) no Event of Default exists or would result therefrom, (ii) Excess Availability is greater than an amount equal to 15% of the aggregate Revolver Commitments immediately after giving effect to any such payment, (iii) on a pro forma basis the Fixed Charge Coverage Ratio, measured on a trailing twelve (12) month basis after giving effect to any such payment and recomputed for the most recent month for which financial statements have been delivered to Agent, is greater than 1.00 to 1.00, and (iv) Borrowers shall have delivered to Agent one (1) Business Day’s prior written notice of any such prepayment accompanied by detailed calculations confirming that Borrowers are in compliance with the requirements set forth in this clause (b).
Prepayment Conditions means the “Payment Conditions” (as defined in the ABL Credit Agreement (as in effect on the date of such calculation; provided, that the prepayment condition shall be no more restrictive than the Prepayment Condition on the date hereof)); provided, further, that, (i) for purposes of the calculation of the ratio thereunder, such ratio shall be determined on a pro forma basis (including a pro forma application of the prepayment and Equity Issuance (if applicable)) and (ii) for purposes of the Excess Availability (as defined in the ABL Credit Agreement) any required period shall be with respect to the date of such prepayment. Upon request by the Administrative Agent in connection with a voluntary or mandatory prepayment by the Borrowers under Section 2.05(b), (c)(i), or (c)(iii), the Borrowers shall provide an officer’s certificate to the Administrative Agent, certifying that the Prepayment Conditions have been met (upon which the Administrative Agent may conclusively rely without further inquiry). After the Discharge of ABL Obligations (in respect of the ABL Obligations existing on the Effective Date under the ABL Credit Agreement, and not any refinancing thereof), the Prepayment Conditions shall no longer apply for purposes of this Agreement (including, without limitation, with respect to any prepayment hereunder).
Prepayment Conditions means (i) with respect to a Call Note, (x) a Change of Control Transaction takes place, or (y) the Board determines that prepaying such Call Note in whole would not reasonably be likely to adversely affect the Company’s liquidity or be restricted by the Company’s financing arrangements, or (ii) with respect to a Put Note, a Change of Control Transaction takes place.
Prepayment Conditions means the Prepayment Amount is equal to or more than EUR 5,000,000; and
Prepayment Conditions means, as to any relevant action contemplated in this Agreement, (i) no Event of Default has then occurred and is continuing or would result from such action and (ii) either (1) (x)