Voluntary Payment Conditions definition
Voluntary Payment Conditions means as to each Voluntary Payment (i) immediately prior to and after giving effect to such Voluntary Payment, no Default shall have occurred and be continuing, and (ii) after giving effect to such Voluntary Payment, the Borrower shall be in pro forma compliance with each of the covenants set forth in Sections 5.07, 5.09 and 5.10 (and on the date of such Voluntary Payment, the Borrower shall deliver to the Administrative Agent a certificate of the chief financial officer or other authorized officer of the Borrower to such effect; provided, however, Borrower shall not be required to deliver such a certificate with respect to any Voluntary Payment so long as the amount of such Voluntary Payment, together with all prior Voluntary Payments made during such Fiscal Quarter, does not exceed $2,000,000); or
Voluntary Payment Conditions means, with respect to any applicable Specified Debt Payment, the satisfaction of the following conditions:
Voluntary Payment Conditions means as to each Voluntary Payment (i) immediately prior to and after giving effect to such Voluntary Payment, no Default shall have occurred and be continuing, and (ii) after giving effect to such Voluntary Payment, the Borrower shall be in pro forma compliance with each of the covenants set forth in Sections 5.05 and 5.07 (and on the date of such Voluntary Payment, the Borrower shall deliver to the Administrative Agent a certificate of a Financial Officer to such effect); or
More Definitions of Voluntary Payment Conditions
Voluntary Payment Conditions means, with respect to any voluntary principal prepayments of the Term Loan , the satisfaction of the following conditions as of the date of determination: (i) at the time thereof and immediately after giving effect thereto, no Event of Default, with respect to which Administrative Agent has notified Borrowers, shall have occurred and be continuing, (ii) the Fixed Charge Coverage Ratio for the Fiscal Quarter most recently ended as of such date for which financial statements have been delivered pursuant to Section 5.01 is not less than the lesser of (x) 1.50 to 1.00, or (y) the minimum Fixed Charge Coverage Ratio applicable for such Fiscal Quarter, and (iii) after giving effect to the proposed payment, Excess Availability will not be less than $15,000,000.