Required Prepayment Percentage means in the case of any Excess Cash Flow, 50% or, if on the date of the applicable prepayment (and after giving effect thereto, in whole or in part), the Total Leverage Ratio is less than 5.25 to 1.00 but greater than or equal to 4.50 to 1.00, 25%, or, if on the date of the applicable prepayment, the Total Leverage Ratio is less than 4.50 to 1.00, 0%.
Required Prepayment Percentage means (a) in the case of any Asset Sale or Recovery Event, 100%; (b) in the case of any Equity Issuance, 50%, (c) in the case of any issuance or other incurrence of Indebtedness, 100%, and (d) in the case of any Excess Cash Flow, 75%.
Required Prepayment Percentage means (a) in the case of any Asset Sale or Recovery Event, 100% or, if on the date of the applicable prepayment, the First Lien Net Leverage Ratio is less than or equal to 1.75 to 1.00 but greater than 1.25 to 1.00, 50%, or if on the date of the applicable prepayment, the First Lien Net Leverage Ratio is less than or equal to 1.25 to 1.00, 0%; (b) in the case of any issuance or other incurrence of Indebtedness (except as incurred pursuant to Section 8.02), 100%; (c) in the case of any Excess Cash Flow, 50%, or, if on the date of the applicable prepayment, the First Lien Net Leverage Ratio is less than or equal to 3.00 to 1.00 but greater than 2.50 to 1.00, 25%, or if on the date of the applicable prepayment, the First Lien Net Leverage Ratio is less than or equal to 2.50 to 1.00, 0%; and (d) in the case of any Permitted Sale Leaseback Transaction, 100%.
Examples of Required Prepayment Percentage in a sentence
The parties acknowledge the HNB/Retail Loan is Permitted Indebtedness and that the Lender has waived the Required Prepayment Percentage as related to Permitted Indebtedness under the Loan Agreement.
More Definitions of Required Prepayment Percentage
Required Prepayment Percentage means the sum expressed as a percentage of the following formula (provided that if such sum is a negative figure, the sum shall be construed as zero): (A x 0.6) - B x 100 where:
Required Prepayment Percentage means, as of any date of determination, (a) if the First Lien Leverage Ratio is greater than 2.15:1.00, 100.0%, (b) if the First Lien Leverage Ratio is less than or equal to 2.15:1.00 and greater than 1.65:1.00, 50.0%, 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 Net Proceeds in respect of any Prepayment Asset Sale or Net Insurance/Condemnation Proceeds that is required to be applied to prepay the Term Loans under Section 2.11(b)(ii) at any time, the First Lien Leverage Ratio shall be calculated as of the scheduled date of, and giving pro forma effect to, such prepayment.
Required Prepayment Percentage means (a) in the case of any Asset Sale or Recovery Event, 100%; (b) in the case of any issuance or other incurrence of Indebtedness (except for Indebtedness permitted to be issued or incurred pursuant to Section 6.01 (other than pursuant to Section 6.01(m) and 6.01(s))), 100%, and, with respect to any issuance or other incurrence of Indebtedness pursuant to Section 6.01(s), 100% or if on the date of the applicable prepayment the Consolidated Leverage Ratio (determined on a pro forma basis taking into account the incurrence of such Indebtedness and any related prepayment of Indebtedness with the proceeds thereof) is less than or equal to 4.25 to 1.00, 75%; and (c) in the case of any Excess Cash Flow, 75% or, if on the date of the applicable prepayment, the Consolidated Leverage Ratio is less than or equal to 4.25 to 1.00 but greater than 3.00 to 1.00, 50%, or, if on the date of the applicable prepayment, the Consolidated Leverage Ratio is less than or equal to 3.00 to 1.00 but greater than 2.50 to 1.00, 25%, or, if on the date of the applicable prepayment, the Consolidated Leverage Ratio is less than or equal to 2.50 to 1.00, 0%.
Required Prepayment Percentage means (a) (x) in the case of any Asset Sale or Recovery Event (other than an Autotype Asset Sale), 100% and (y) in the case of any Autotype Asset Sale, 50%; (b) in the case of any issuance or other incurrence of Indebtedness (except as incurred pursuant to Section 8.02 ), 100%; and (c) in the case of any Excess Cash Flow, 75% or, if on the date of the applicable prepayment, the First Lien Net Leverage Ratio is less than or equal to 3.875 to 1.00 but greater than 3.00 to 1.00, 50%, or, if on the date of the applicable prepayment, the First Lien Net Leverage Ratio is less than or equal to 3.00 to 1.00 but greater than 2.50 to 1.00, 25%, or if on the date of the applicable prepayment, the First Lien Net Leverage Ratio is less than or equal to 2.50 to 1.00, 0%.” (q) The definition of “Term Loan” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
Required Prepayment Percentage. 50%, or, if as of the end of the most recent fiscal year (starting with the fiscal year ending on March 31, 2021), the Consolidated Senior Secured Net Leverage Ratio is less than or equal to 2.25 to 1.00 but greater than 1.75 to 1.00, 25%, or if on the date of the applicable prepayment, the Consolidated Senior Secured Net Leverage Ratio is less than or equal to 1.75 to 1.00, 0%.
Required Prepayment Percentage means (a) in the case of any Asset Sale or Recovery Event, 100%; (b) in the case of any Equity Issuance, if on the date of the applicable prepayment, to the extent that the Leverage Ratio, after giving effect to any repayment of Loans with the applicable Net Cash Proceeds, is greater than or equal to 4.00 to 1.00, 50%, and to the extent that the Leverage Ratio, after giving effect to any repayment of Loans with the applicable Net Cash Proceeds, is less than 4.00 to 1.00, 25%; (c) in the case of any issuance or other incurrence of Indebtedness, 100%; and (d) in the case of any Excess Cash Flow, if on the last day of the applicable fiscal year, to the extent that the Leverage Ratio, after giving effect to any repayment of Loans with the applicable Net Cash Proceeds, is (i) greater than or equal to 4.00 to 1.00, 75%, (ii) less than 4.00 to 1.00 but greater than 3.00 to 1.00, 50%, (iii) less than or equal to 3.00 to 1.00 but greater than 2.00 to 1.00, 25% and (iv) less than or equal to 2.00 to 1.00, 0%.
Required Prepayment Percentage means (a) in the case of any Asset Sale or Recovery Event, 100%; (b) in the case of any Specified Equity Issuance, 50% or, if on the date of the applicable prepayment, the Consolidated Leverage Ratio is less than 5.00 to 1.00, 25%; (c) in the case of any issuance or other incurrence of Indebtedness, 100%; and (d) in the case of any Excess Cash Flow, 50% or, if on the date of the applicable prepayment, the Consolidated Leverage Ratio is less than 5.00 to 1.00 but greater than or equal to 4.00 to 1.00, 25%, or, if on the date of the applicable prepayment, the Consolidated Leverage Ratio is less than 4.00 to 1.00, 0%.