Sweep Percentage definition

Sweep Percentage has the meaning set forth in Section 3.3(b) or 3.3(c), as applicable.

Sweep Percentage means (i) for each calendar quarter from the Closing Date through March 31, 2015, fifty percent (50%), and (ii) for each calendar quarter thereafter, seventy-five percent (75%).

Sweep Percentage means (i) for the period from the Closing Date through the date of the delivery by the Company to the Purchaser of the first True-Up Statement, * * *%, and (ii) for any given Fiscal Quarter thereafter, the percentage equal to (i) the Applicable Percentage multiplied by worldwide Net Revenues of the Product for the Prior Fiscal Quarter, divided by (ii) the Net Revenues of the Company with respect to the Product for the Prior Fiscal Quarter. The Sweep Percentage shall be calculated on a quarterly basis and shall be set forth in the True-Up Statement for each Fiscal Quarter.

Examples of Sweep Percentage in a sentence

• Commencing on the effective date of the Deposit Agreement, the applicable Sweep Percentage of the cash and cash equivalents deposited into the Deposit Account (subject to the Yearly Payment Cap) shall be swept from the Joint Concentration Account into the Purchaser Concentration Account on a daily basis (the “Daily Amount”) pursuant to Section 5.08.

• Subject to Section 4.06(c) below, at any time or times during any Calendar Quarter, Product Sub may distribute to the Product Sub Account (such disbursement, a “Cash Sweep”) an amount of cash equal to (i) the amount of the gross receipts on Net Sales deposited in the Collection Account since the most recent Cash Sweep multiplied by (ii) the Sweep Percentage.

• The True-Up Statement shall also include the Sweep Percentage that will be applicable to the next successive Fiscal Quarter.

• If a Cash Trap Period ceases to exist as a result of a Cash Sweep Period commencing, then the product of the Cash Sweep Percentage as of the first Payment Date during such Cash Sweep Period and the amount of funds on deposit in the Cash Trap Reserve Account will be paid to the Holders of the Notes on such first Payment Date in direct order of alphanumerical designation in respect of principal and pro rata among Holders of Notes within each Class of the same alphanumerical designation.

More Definitions of Sweep Percentage

Sweep Percentage means (i) for the period from the Closing Date through the date of the delivery by the Company to the Purchaser of the first True-Up Statement, * * *%, and (ii) 16 for any given Fiscal Quarter thereafter, the percentage equal to (i) the Applicable Percentage multiplied by worldwide Net Revenues of the Product for the Prior Fiscal Quarter, divided by (ii) the Net Revenues of the Company with respect to the Product for the Prior Fiscal Quarter. The Sweep Percentage shall be calculated on a quarterly basis and shall be set forth in the True-Up Statement for each Fiscal Quarter. “Tax” or “Taxes” shall mean any federal, state, local or foreign tax, levy, impost, duty, assessment, fee, deduction or withholding or other charge, including all excise, sales, use, value added, transfer, stamp, documentary, filing, recordation and other fees imposed by any taxing authority (and interest, fines, penalties and additions related thereto). “Tax Return” shall mean any report, return, form (including elections, declarations, statements, amendments, claims for refund, schedules, information returns or attachments thereto) or other information supplied or required to be supplied to a Governmental Authority with respect to Taxes. “Term” shall have the meaning set forth in Section 6.01. “Term Sheet” shall mean the Term Sheet discussed between the Company and Purchaser, on or around June 12, 2015. “Third Party” shall mean any Person other than the Purchaser or the Company and its Subsidiaries. “Transaction Documents” shall mean, collectively, this Agreement, the Assignment of Interests, the Security Agreement, the Deposit Agreement, and the Officer’s Certificate. “Transfer” shall mean any sale, conveyance, assignment, disposition, pledge, hypothecation or transfer. “True-Up Statement” shall have the meaning set forth in Section 5.08(f)(i). “UCC” shall mean the Uniform Commercial Code (or any similar or equivalent legislation) as in effect in any applicable jurisdiction. “UCC Financing Statements” shall mean the UCC-1 financing statements, in form and substance reasonably satisfactory to Purchaser, that shall be filed by Purchaser, with the assistance of the Company as reasonably requested by the Purchaser, at or promptly following the Closing, as well as any additional UCC-1 financing statements or amendments thereto as reasonably requested from time to time, to perfect Purchaser’s security interest in the Assigned Interests Collateral. “United States” shall mean the United Sta...

Sweep Percentage means (i) 100% for the Test Dates occurring in 1995 and 1996, (ii) 90% for each of the Test Dates occurring in 1997 and 1998, and (iii) 85% for the Test Date occurring in 1999 and any subsequent Test Dates; provided, that the Sweep Percentage shall be 50% for any Test Date for which the ratio of Debt to EBITDA (as such terms are defined in Section 9.01 hereof, but without reference to Section 9.10 hereof) as of the immediately preceding December 31 was less than 4.0 to 1.0.

Sweep Percentage means (a) 50% prior to a Forced Sale Trigger Event, and (b) 100% from and after a Forced Sale Trigger Event.

Sweep Percentage means ninety percent (90%); provided that, after and during the continuance of an Event of Default, the Sweep Percentage shall be (100%).

Sweep Percentage has the meaning set forth in Section 4.08(b).

Sweep Percentage means (i) for the period from the Closing Date through the date of the delivery by the Company to the Purchaser of the first True-Up Statement, * * *%, and (ii)

Sweep Percentage means (i) for the period from the Closing Date through the date of the delivery by the Company to the Purchaser of the first True-Up Statement, [***]%, and (ii) for any given Fiscal Quarter thereafter, the percentage equal to (i) the Applicable Percentage multiplied by worldwide Net Revenues of the Product for the Prior Fiscal Quarter, divided by (ii) the Net Revenues of the Company with respect to the Product for the Prior Fiscal Quarter. The Sweep Percentage shall be calculated on a quarterly basis and shall be set forth in the True-Up Statement for each Fiscal Quarter.