Super Senior Headroom definition

Super Senior Headroom means the higher of (i) EUR 35,000,000 and (ii) an amount equal to 15 per cent. of the aggregate of the amount outstanding under the Bonds and the total commitment of any Working Capital Facilities (in relation to any ancillary facility under the Super Senior RCF (including in the form of an overdraft facility) shall for the purpose of calculating the Super Senior Headroom be deemed to have been drawn in the full amount of such ancillary facility notwithstanding the amount actually outstanding under such ancillary facility) provided that, during the Waiver Period (as defined in the Terms and Conditions), an amount equivalent to the lower of (A) Cash and Cash Equivalents of the Group and (B) outstanding receivables from Supranational Organisations shall be deducted from the actual drawn amount under the Working Capital Facilities when making this determination.

Super Senior Headroom means EUR 15,000,000 (plus accrued and unpaid interest, fees and costs) or the equivalent thereof in any other currency, provided however that the principal amount of any Super Senior RCF Debt (excluding Hedging Obligations) may be increased (if agreed between the Issuer and the relevant Super Senior RCF Creditor providing such increase) up to a maximum principal amount not exceeding, at the time of the increase, an amount corresponding to one hundred (100) per cent. of EBITDA of the Group pursuant to the audited annual report most recently delivered under the Secured Finance Documents.

Super Senior Headroom shall have the meaning given to such term in the Intercreditor Agreement.

Examples of Super Senior Headroom in a sentence

• Cancellation of Super Senior RCF:If the Super Senior Headroom at any time is less than the total commitments under the Super Senior RCF the Issuer shall, within thirty (30) days, ensure that commitments under the Super Senior RCF is cancelled and, if relevant, repayment under the Super Senior RCF is made to ensure that the total commitments under the Super Senior RCF is not higher than the Super Senior Headroom.

• The Issuer believes this limitation will put strain on the Group's operations in light of prevailing market conditions and is consequently seeking Bondholders’ approval to increase the Super Senior Headroom from 15 per cent to 17.5 per cent of total outstanding senior debt.

• Pursuant to the Issuer Intercreditor Agreement, the Super Senior Headroom is defined as the higher of EUR 35,000,000 and 15 per cent of the aggregate of the amount outstanding under the Bonds and the total commitment of any Working Capital Facilities.

More Definitions of Super Senior Headroom

Super Senior Headroom means SEK 75,000,000 (plus premium, accrued and unpaid interest, fees and costs).

Super Senior Headroom means an amount of up to EUR 5,000,000 by which the Super Senior Revolving Credit Facility may be increased if and to the extent the facility agent thereunder and the Issuer agree that such increase is necessary for the liquidity requirements of the Group.

Super Senior Headroom means the higher of (i) EUR 35,000,000 and (ii) an amount equal to 17.5 15 per cent. of the aggregate of the amount outstanding under the Bonds, the New Debt and the total commitment of any Working Capital Facilities (in relation to any ancillary facility under the Super Senior RCF (including in the form of an overdraft facility) shall for the purpose of calculating the Super Senior Headroom be deemed to have been drawn in the full amount of such ancillary facility notwithstanding the amount actually outstanding under such ancillary facility). The proposed amendment to the Issuer Intercreditor Agreement referred to in paragraph (a) (inclusive) are hereinafter referred to as the "ICA Amendment". All capitalised terms used in paragraph (a) above shall have the meanings assigned to them in the Issuer Intercreditor Agreement.

Super Senior Headroom means an amount equal to ten (10) per cent. of the commitments under the Super Senior Term Facility (as at the date hereof).

Super Senior Headroom. The principal amount under the Super Senior WCF (excluding, for the avoidance of doubt, any hedging liabilities related thereto) shall not exceed an amount equal to fifteen (15) per cent. of the outstanding Nominal Amount, plus premium, accrued and unpaid interest, fees and costs.

Super Senior Headroom means an amount not exceeding EUR 2,000,000 (plus premium, accrued and unpaid interest, fees and costs).

Super Senior Headroom means an amount not exceeding EUR 2,000,000 (plus premium, accrued and unpaid interest, fees and costs).