Restricted Uses Basket definition
Restricted Uses Basket means, at any time, the sum at such time of (a) $500,000,000; plus (b) 50% of cumulative Consolidated Adjusted Net Income (net of any negative amounts) for each fiscal quarter for which financial statements shall have been delivered pursuant to Section 5.01(a) or (b) (commencing with the fiscal quarter ending March 31, 2007); plus (c) Equity Proceeds; plus (d) the amount by which Indebtedness of FCX or its Restricted Subsidiaries is reduced on FCX’s balance sheet upon the conversion or exchange (other than by a Subsidiary) subsequent to the Effective Date of any Indebtedness of FCX or its Restricted Subsidiaries which is convertible or exchangeable for Equity Interests (other than Disqualified Stock) of FCX (less the amount of any cash or the fair market value of other property distributed by FCX or any Restricted Subsidiary upon such conversion or exchange).
Restricted Uses Basket means, at any time, determined in each case for the period commencing on the Effective Date and ending on the date of determination based on the provisions of this Agreement or the Existing Restated Credit Agreement, as applicable, the sum at such time of (a) $500,000,000; plus (b) 50% of cumulative Consolidated Adjusted Net Income (net of any negative amounts) for each fiscal quarter for which financial statements shall have been delivered pursuant to Section 5.01(a) or (b) (commencing with the fiscal quarter ending March 31, 2007); plus (c) Equity Proceeds received after the Effective Date; plus (d) the amount by which Indebtedness of FCX or its Restricted Subsidiaries is reduced on FCX’s balance sheet upon the conversion or exchange (other than by a Subsidiary) subsequent to the Effective Date of any Indebtedness of FCX or its Restricted Subsidiaries which is convertible or exchangeable for Equity Interests (other than Disqualified Stock) of FCX (less the amount of any cash or the fair market value of other property distributed by FCX or any Restricted Subsidiary upon such conversion or exchange).
Restricted Uses Basket means, as of any date, the sum of (x) $250,000,000 plus (y) 50% of Consolidated Net Income during the period from March 31, 2006, through the last day of the then most recent fiscal quarter for which financial statements have been delivered pursuant to Section 5.01(a) or (b) (or, if such Consolidated Net Income is a deficit, minus 100% of such deficit).