Qualified Acquisition Expenditure definition
Qualified Acquisition Expenditure means an expenditure by the Borrower or one of its Subsidiaries made in connection with or in furtherance of the acquisition of a Person engaged in a similar line of business as the Borrower and its Subsidiaries, so long as (a) the Leverage Ratio is less than 3.00 to 1.00 at the end of each fiscal quarter prior to such expenditure and immediately after giving effect thereto and (b) after giving effect to such expenditure, the Aggregate Revolving Credit Commitments shall exceed the sum of the outstanding principal amount of the Revolving Credit Loans and Swing Line Loans, plus the LC Exposure, plus the Direct Pay Letter of Credit Exposure by an amount not less than $10,000,000; provided that, in the event clause (a) above has not been satisfied and so long as (i) no Default exists or would exist as a result of such expenditure, (ii) the requirement in clause (b) above has been satisfied, and (iii) such expenditure does not exceed $20,000,000 when added to all other Qualified Acquisition Expenditures and Expansion Expenditures made during the Borrower's then current fiscal year, then such expenditure shall be deemed a Qualified Acquisition Expenditure; and "Qualified Acquisitions Expenditures" shall mean all such expenditures.
Qualified Acquisition Expenditure means collectively, an expenditure by the Borrower or one of its Subsidiaries made in connection with or in furtherance of the acquisition of a Person engaged in a similar line of business as the Borrower and its Subsidiaries, so long as (i) the Senior Funded Debt Leverage Ratio (as defined in the First Lien Credit Agreement) is less than 4.00 to 1.00 at the end of each fiscal quarter prior to such expenditure and immediately after giving effect thereto and (ii) after giving effect to such expenditure, the Aggregate Revolving Credit Commitments shall exceed the sum of the outstanding principal amount of the Revolving Credit Loans and Swing Line Loans, plus the LC Exposure, plus the Direct Pay Letter of Credit Exposure (as each is defined in the First Lien Credit Agreement) by an amount not less than $10,000,000; provided that, in the event clause (i) above has not been satisfied and so long as (1) no Default exists or would exist after giving effect to such expenditure (including without limitation, no Default would exist under Sections 9.12 through and including 9.16 after giving effect to such expenditure), (2) the requirement in clause (ii) above has been satisfied, and (3) such expenditure does not exceed 20% of the Borrower's Net Worth as of the date of such expenditure, then such expenditure shall be deemed a Qualified Acquisition Expenditure; and "Qualified Acquisitions Expenditures" shall mean all such expenditures.
Qualified Acquisition Expenditure means an expenditure by the Borrower or one of its Subsidiaries made in connection with or in furtherance of the acquisition of a Person engaged in a similar line of business as the Borrower and its Subsidiaries, so long as (a) the Leverage Ratio is less than 3.00 to 1.00 at the end of each fiscal quarter prior to such expenditure and immediately after giving effect thereto and (b) after giving effect to such expenditure, the Aggregate Revolving Credit Commitments shall exceed the sum of the outstanding principal amount of the Revolving Credit Loans and Swing Line Loans, plus the LC Exposure, plus the Direct Pay Letter of Credit Exposure by an amount not less than $10,000,000; provided that, in the event clause (a) above has not been satisfied and so long as (i) no Default exists or would exist as a result of such expenditure, (ii) the requirement in clause (b) above has been satisfied, and (iii) such expenditure does not exceed $20,000,000 when added to all other Qualified
More Definitions of Qualified Acquisition Expenditure
Qualified Acquisition Expenditure means collectively, (a) on or before January 17, 2005, an expenditure by the Borrower or one of its Subsidiaries made in connection with or in furtherance of the acquisition of a Person engaged in a similar line of business as the Borrower and its Subsidiaries, and (b) after January 17, 2005, an expenditure by the Borrower or one of its