Second Lien Cap means (a) the sum of (x) $260,000,000 plus (y) such additional amount that would not, after giving effect on a Pro Forma Basis to the incurrence thereof cause the Secured Leverage Ratio (without netting the cash and Cash Equivalents constituting proceeds of the applicable Second Lien Obligations) as at the end of the most recently ended fiscal quarter of the Borrower for which financial statements have been delivered to the Second Lien Administrative Agent to exceed 6.00:1.00, minus (b) the sum of (i) all Permitted Other Second Lien Indebtedness incurred in reliance on clause (x) of the definition thereof, (ii) all Incremental First Lien Term Commitments incurred and outstanding in reliance on Section 2.12(a)(x) of this Agreement (assuming the full funding thereof) and (iii) all Permitted Other First Lien Indebtedness (assuming the full funding thereof) incurred in reliance on clause (x) of the definition thereof.
Second Lien Cap means, as of any date of determination, the result of:
Second Lien Cap means at any date, the sum of:
Examples of Second Lien Cap in a sentence
The Second Lien Cap is a limitation on the outstanding principal amount payable to the Lenders under the Second Lien Credit Agreement and is not a limit on any other amounts (including, but not limited to fees, indemnities, costs and expenses).
More Definitions of Second Lien Cap
Second Lien Cap means the result of (a) the aggregate principal amount of all Indebtedness incurred under the Second Lien Documents as in effect on the date hereof minus (b) the aggregate amount of all payments of the principal under the Second Lien Documents (other than payments of such Notes in connection with a Refinancing thereof).
Second Lien Cap means, at any time, the result of (a) the aggregate principal amount of all Indebtedness incurred under the Second Lien Documents from the Issue Date to and including the applicable time of determination in accordance with the terms thereof, minus (b) the aggregate amount of all payments of such principal under such Second Lien Documents as of such time in accordance with the terms thereof (other than any prepayment made with the proceeds of any refinancing, refunding or replacement of any such Indebtedness).
Second Lien Cap means, as of any date of determination, in the case of outstanding Second Lien Notes, the result of (a) the greater of (x) $90,000,000 and (y) the aggregate principal amount of all Second Lien Notes issued and outstanding on the Effective Date, so long as, if such amount is greater than $90,000,000, PNC has approved such greater amount on or prior to the Effective Date, minus (b) the aggregate amount of all permanent repayments under the Second Lien Notes made out of the Net Proceeds of Asset Sales (as such term is defined in the Second Lien Debt Documents).
Second Lien Cap has the meaning assigned to that term in the Intercreditor Agreement as in effect on the date hereofClosing Date.
Second Lien Cap means the “Second Lien Cap” as defined in the First Lien Credit Agreement or any corresponding provision of any Additional Senior Priority Debt Document that Refinances in full the Indebtedness outstanding under the First Lien Credit Agreement.
Second Lien Cap means (A) a principal amount not to exceed $35,000,000 incurred on the Closing Date (B) a principal amount of $5,000,000 incurred after the Closing Date, and (C) a principal amount of interest that has been paid-in-kind (including, for the avoidance of doubt, interest paid on previously capitalized interest amounts) but to the extent the rate thereof does not exceed the rate permitted under Section 7.
Second Lien Cap means, on any date of determination, the sum of (i) the greater of (x) $2,500 million, (y) an amount equal to 3.5 times Consolidated Cash Flow of the Issuer for the most recently ended four full fiscal quarters of the Issuer for which internal financial statements are available and (z) 25% of Total Tangible Assets and (ii) solely with respect to Indebtedness consisting of letters of credit permitted to be incurred under Section 4.07(b)(3), the outstanding amount of any such Indebtedness.