Prepayment Conditions means, with respect to any payment pursuant to clause (vi) of Section 10.2.7, the following conditions: (a) no Default or Event of Default exists and is continuing or would result on a pro forma basis immediately after giving effect to such payment; and (b) either one of the following conditions: (i)(A) Availability (1) for each of the thirty (30) days preceding the date of such prepayment and (2) as of the date of such payment after giving effect to such payment is greater than or equal to the greater of (I) $30,000,000 or (II) the lesser of fifteen percent (15%) of (a) the Borrowing Base as set forth on the most recent Borrowing Base Certificate that has been delivered or was required to be delivered by Borrowers pursuant to Section 8.1 determined on a pro forma basis after giving effect to such payment or (b) the aggregate amount of Revolver Commitments and (B) the Fixed Charge Coverage Ratio, determined on a pro forma basis immediately after giving effect to such payment for the most recent trailing twelve month period for which financial statements were, or were required to be, delivered hereunder, is not less than 1.0 to 1.0 or (ii) Availability (A) for each of the thirty (30) days preceding the date of such prepayment and (B) as of the date of such payment after giving effect to such payment is greater than or equal to the greater of (1) $40,000,000 or (2) the lesser of twenty percent (20%) of (I) the Borrowing Base as set forth on the most recent Borrowing Base Certificate that has been delivered or was required to be delivered by Borrowers pursuant to Section 8.1 determined on a pro forma basis after giving effect to such payment or (II) the aggregate amount of Revolver Commitments; provided, upon the occurrence of a Revolver Commitments Increase Event, the $30,000,000 amount referenced in subclause (i)(A) of clause (b) above and the $40,000,000 amount referenced in subclause (ii) of clause (b) above (or, in each case, such amounts as increased pursuant to this proviso after a Revolver Commitments Increase Event), shall automatically, without any further action or documentation required, increase by the same percentage amount as the Revolver Commitments upon such Revolver Commitments Increase Event, such that, by way of example, if the Revolver Commitments increase by twenty percent (20%) upon the Revolver Commitments Increase Event, then the $30,000,000 amount and the $40,000,000 amount herein referenced (or such amounts as increased pursuant to ...
Prepayment Conditions. “Refinance, Refinancing or Refinanced”, “Secured Debt” and “Stated Maturity Date” and replacing them in their entirety with the following:
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.
Examples of Prepayment Conditions in a sentence
Upon satisfaction of the Prepayment Conditions, the Borrowers may completely or partially prepay this Note at any time without penalty; provided, however, that the Borrowers must provide Holder with at least 10 business days written notice of their intent to completely or partially repay this Note, and Holder shall have the right to elect to convert an equivalent amount of the Indebtedness in accordance with Section 6(a) or Section 6(c) of this Note, in lieu of accepting such payment.
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.
The Borrowers shall not be permitted to completely or partially prepay this Note without the written consent of Holder, which shall not be unreasonably withheld, unless the Prepayment Conditions have been satisfied.
On each occasion that the Prepayment Conditions are met, the Borrower shall prepay the Loan in an amount that is equal to the Prepayment Amount.
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.
More Definitions of Prepayment Conditions
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 the Prepayment Amount is equal to or more than EUR 5,000,000; and EITHER
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 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. 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), be greater than $30,000,000, and, for the 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 greater than $30,000,000 and (d) the Borrowers are in pro forma compliance with the Fixed Charge Coverage Ratio after giving effect to such prepayment (determined as if (x) the Fixed Charge Coverage Ratio is in effect at such time (even if the Fixed Charge Coverage Ratio is not being tested at such time) and (y) the amount of such prepayment is a Fixed Charge for purposes of calculating the Fixed Charge Coverage Ratio).
Prepayment Conditions. (a) Availability (i) at all times during the 30-day period preceding any payment, prepayment, redemptions, acquisition for value, refund, refinance or THIRD AMENDED AND RESTATED CREDIT AGREEMENT – Page 51 AMERICAS/2024146412.5 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) 25% 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) 25% of the Borrowing Base then in effect at any time 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 means that (i) Borrower Parent has abandoned its pending Initial Public Offering, and (ii) the termination of that certain Membership Interest Purchase Agreement dated January 28, 2014 (“MIPA”) by and between Borrower Subsidiary, Hard Rock Solutions, LLC, a Utah limited liability company (“Hard Rock”), Hard Rock Solutions, Inc., a Texas corporation and Xxxxx X. Xxxxxxxx, and the abandonment of the transactions contemplated by the MIPA. Upon satisfaction of the Prepayment Conditions, the Borrowers may completely or partially prepay this Note at any time without penalty; provided, however, that the Borrowers must provide Holder with at least 10 business days written notice of their intent to completely or partially repay this Note, and Holder shall have the right to elect to convert an equivalent amount of the Indebtedness in accordance with Section 6(a) or Section 6(c) of this Note, in lieu of accepting such payment.