Required Excess Cash Flow Percentage means, as of any date of determination, (a) if the First Lien Leverage Ratio is greater than 2.15:1.00, 50.0%, (b) if the First Lien Leverage Ratio is less than or equal to 2.15:1.00 and greater than 1.65:1.00, 25.0%, and (c) if the First Lien Leverage Ratio is less than or equal to 1.65:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Excess Cash Flow that is required to be applied to prepay the Term Loans under Section 2.11(b)(i) for any Excess Cash Flow Period, the First Lien Leverage Ratio shall be calculated as of the scheduled date of, and giving pro forma effect to, such prepayment.
Required Excess Cash Flow Percentage means, as of any date of determination, (a) if the First Lien Leverage Ratio is greater than 4.00:1.00, 50%, (b) if the First Lien Leverage Ratio is less than or equal to 4.00:1.00 and greater than 3.50:1.00, 25% and (c) if the First Lien Leverage Ratio is less than or equal to 3.50:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Excess Cash Flow that is required to be applied to prepay Subject Loans under Section 2.11(b)(i) for any Excess Cash Flow Period, the First Lien Leverage Ratio shall be determined on the scheduled date of prepayment (after giving pro forma effect to such prepayment and to any other repayment or prepayment at or prior to the time such Excess Cash Flow prepayment is due).
Required Excess Cash Flow Percentage means, as of any date of determination, (a) if the First Lien Leverage Ratio is greater than 5.00:1.00, 50%, (b) if the First Lien Leverage Ratio is less than or equal to 5.00:1.00 and greater than 4.50:1.00, 25% and (c) if the First Lien Leverage Ratio is less than or equal to 4.50:1.00 (the First Lien Leverage Ratio levels set forth in clauses (a), (b) and (c), the “Stepdown Levels”), 0% (the percentages set forth in clauses (a), (b) and (c), the “Stepdown Percentages”); it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Excess Cash Flow that is required to be applied to prepay the Term Loans under Section 2.11(b)(i) for any Excess Cash Flow Period, the Required Excess Cash Flow Percentage shall be determined on (and as of) the scheduled date of prepayment by first, determining the applicable Stepdown Level by calculating the First Lien Leverage Ratio on a pro forma basis without giving effect to any Excess Cash Flow payment required to be made on such date (the “Base Level”, and the Stepdown Level one level below the Base Level, the “Lower Level”) and second, calculating the First Lien Leverage Ratio on a pro forma basis after giving effect to such Excess Cash Flow payment based on the Lower Level on such date (the “Assumed Payment”). If after calculating the First Lien Leverage Ratio on a pro forma basis giving effect to the Assumed Payment at the Lower Level the Borrower would be entitled to a stepdown to the Lower Level from the Base Level, then the Required Excess Cash Flow Percentage applicable to such Excess Cash Flow payment required to be made shall be the Stepdown Percentage for the Lower Level; otherwise, the Stepdown Percentage for the Base Level shall apply.
Examples of Required Excess Cash Flow Percentage in a sentence
The easiest way to install Rally is by running its installation script:wget -q -O- https://raw.githubusercontent.com/openstack/rally/master/install_rally.sh | bash# or using curl:curl https://raw.githubusercontent.com/openstack/rally/master/install_rally.sh | bash If you execute the script as regular user, Rally will create a new virtual environment in ~/rally/ and install in it Rally, and will use sqlite as database backend.
More Definitions of Required Excess Cash Flow Percentage
Required Excess Cash Flow Percentage means, as of any date of determination, (a) if the Secured Net Leverage Ratio is greater than 4.00:1.00, 50%, (b) if the Secured Net Leverage Ratio is less than or equal to 4.00:1.00 and greater than 3.50:1.00, 25%, and (c) if the Secured Net Leverage Ratio is less than or equal to 3.50:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Excess Cash Flow that is required to be applied to prepay the Term Loans under Section 2.11(b)(i) for any Excess Cash Flow Period, the Secured Net Leverage Ratio shall be determined on the scheduled date of prepayment.
Required Excess Cash Flow Percentage means, as of the most recent Test Period prior to the date of determination, (a) if the First Lien Leverage Ratio is greater than to 2.75:1.00, 50%, (b) if the First Lien Leverage Ratio is less than or equal to 2.75:1.00 and greater than 2.00:1.00, 25%, and (c) if the First Lien Leverage Ratio is less than or equal to 2.00:1.00, 0%; provided, for the Excess Cash Flow Period ending on or about December 31, 2018, the Required Excess Cash Flow Percentage shall be 50%.
Required Excess Cash Flow Percentage means, as of any date of determination, (a) (x) prior to the Performance Chemicals Sale Closing Date, if the Senior Secured Leverage Ratio (as defined in Annex I) is greater than 3.50:1.00, 50% and (y) on and after the Performance Chemicals Sale Closing Date, if the First Lien Leverage Ratio is greater than 4.00:1.00, 50%, (b) (x) prior to the Performance Chemicals Sale Closing Date, if the Senior Secured Leverage Ratio (as defined in Annex I) is less than or equal to 3.50:1.00 and greater than 3.00:1.00, 25% and (y) on and after the Performance Chemicals Sale Closing Date, if the First Lien Leverage Ratio is less than or equal to 4.00:1.00 and greater than 3.50:1.00, 25% and (c) (x) prior to the Performance Chemicals Sale Closing Date, if the Senior Secured Leverage Ratio (as defined in Annex I) is less than or equal to 3.00:1.00, 0% and (y) on and after the Performance Chemicals Sale Closing Date, if the First Lien Leverage Ratio is less than or equal to 3.50:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Excess Cash Flow that is required to be applied to prepay the Term Loans under Section 2.11(b)(i) for any Calculation Period, the First Lien Leverage Ratio shall be determined on a Pro Forma Basis as of the last day of the relevant Calculation Period, after giving effect to the amount of such Prepayment, as determined in good faith by the Parent Borrower.
Required Excess Cash Flow Percentage means, as of any date of determination, (a) if the Total Leverage Ratio is greater than 4.25:1.00, 50%, (b) if the Total Leverage Ratio is less than or equal to 4.25:1.00 and greater than 3.75:1.00, 25%, (c) if the Total Leverage Ratio is less than or equal to 3.75:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Excess Cash Flow that is required to be applied to prepay the Term Loans under Section 2.11(b)(i) for any Excess Cash Flow Period, the Total Leverage Ratio shall be determined on the scheduled date of prepayment.
Required Excess Cash Flow Percentage means, as of any date of determination, (a) if the Consolidated Net Total Leverage Ratio is greater than or equal to 3.00:1.00, 100.0%, (b) if the Consolidated Net Total Leverage Ratio is less than 3.00:1.00 and greater than or equal to 2.00:1.00, 75.0% and (c) if the Consolidated Net Total Leverage Ratio is less than 2.00:1.00, 50.0%.
Required Excess Cash Flow Percentage means, as of any date of determination, (a) if the First Lien Leverage Ratio is greater than 3.00:1.00, 50%, (b) if the First Lien Leverage Ratio is less than or equal to 3.00:1.00 and greater than 2.50:1.00, 25% and (c) if the First Lien Leverage Ratio is less than or equal to 2.50:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Excess Cash Flow that is required to be applied to prepay the Term Loans under Section 2.11(b)(i) for any Calculation Period, the First Lien Leverage Ratio shall be determined on a Pro Forma Basis as of the last day of the relevant Calculation Period, after giving effect to the amount of such Prepayment, as determined in good faith by the Borrower.
Required Excess Cash Flow Percentage means, as of any date of determination, (a) if the First Lien Leverage Ratio is greater than 3.50:1.00, 50%, (b) if the First Lien Leverage Ratio is less than or equal to 3.50:1.00 and greater than 3.00:1.00, 25% and (c) if the First Lien Leverage Ratio is less than or equal to 3.00:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Excess Cash Flow that is required to be applied to prepay the Term Loans under Section 2.11(b)(i) for any Excess Cash Flow Period, the First Lien Leverage Ratio shall be determined on the last day of the Fiscal Year for which the Required Excess Cash Flow Percentage is being calculated, recalculated to give pro forma effect to any such paydown or reduction.