Asset Sale Prepayment Percentage means 100%.
Asset Sale Prepayment Percentage means 100%; provided, that from the First Amendment Effective Date until the date that is six (6) months after the First Amendment Effective Date, the Asset Sale Prepayment Percentage means 0%; provided, further that that any Net Cash Proceeds from any Asset Disposition not required to be applied as a result of the foregoing proviso shall be permitted to be retained by the Borrower for general corporate purposes (other than the making of any Restricted Payments).
Asset Sale Prepayment Percentage means 100%; provided that if, at the time of receipt by the Issuer or the relevant Restricted Subsidiary of the Net Proceeds from any Asset Sale, on a pro forma basis after giving effect to the applicable Asset Sale and the application of the Net Proceeds therefrom, (a) the Consolidated Secured Debt Ratio is less than or equal to 4.25 to 1.00 and greater than 3.50 to 1.00, such percentage shall instead be 50% or (b) the Consolidated Secured Debt Ratio is less than or equal to 3.50 to 1.00, such percentage shall instead be 0%.
More Definitions of Asset Sale Prepayment Percentage
Asset Sale Prepayment Percentage means, as of any date of determination, (a) if the First Lien Leverage Ratio is greater than 3.00:1.00, 100%, (b) if the First Lien Leverage Ratio is less than or equal to 3.00:1.00 and greater than 2.50:1.00, 50% and (c) if the First Lien Leverage Ratio is less than or equal to 2.50:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Subject Proceeds that is required to be applied to Prepay the Term Loans under Section 2.11(b)(ii), the First Lien Leverage Ratio shall be determined on a Pro Forma Basis as of the date of such Prepayment, after giving effect to the amount of such Prepayment, as determined in good faith by the Borrower.
Asset Sale Prepayment Percentage means 100%, provided that if the Total Leverage Ratio as of the date of the applicable Disposition or Asset Swap, on a pro forma basis assuming the consummation of such Disposition or Asset Swap, is (i) greater than or equal to 5.0 to 1, but less than 6.0 to 1, such percentage shall be 50% or (ii) less than 5.0 to 1, such percentage shall be 0%.
Asset Sale Prepayment Percentage means 100%; provided that, if at any time the First Lien Net Leverage Ratio is (i) less than or equal to 2.17 to 1.00 and greater than 1.67 to 1.00 (as set forth in the most recent Compliance Certificate delivered to the Administrative Agent for any fiscal quarter or fiscal year of the Lead Borrower in accordance with Section 5.01, provided that for purposes of calculating the First Lien Net Leverage Ratio for this definition, the Consolidated EBITDA of any Person acquired pursuant to a Limited Condition Transaction shall not be included until such Limited Condition Transaction is consummated), the applicable Asset Sale Prepayment Percentage shall instead be 50% and (ii) less than or equal to 1.67 to 1.00 (as set forth in the most recent Compliance Certificate delivered to the Administrative Agent for any fiscal quarter or fiscal year of the Lead Borrower in accordance with Section 5.01, provided that for purposes of calculating the First Lien Net Leverage Ratio for this definition, the Consolidated EBITDA of any Person acquired pursuant to a Limited Condition Transaction shall not be included until such Limited Condition Transaction is consummated), the applicable Asset Sale Prepayment Percentage shall instead be 0%.
Asset Sale Prepayment Percentage means 100%; provided that if, at the time of receipt by the Borrower or such other applicable Loan Party of the Net Proceeds from any Prepayment Event giving rise to a mandatory prepayment required by Section 2.11(c)(i) (or at any time during the applicable investment period described therein), on a Pro Forma Basis after giving effect to the applicable Prepayment Event and the application of the Net Proceeds therefrom, (i) the First Lien Net Leverage Ratio is less than or equal to 4.25:1.00 and greater than 3.50:1.00, such percentage shall instead be 50% or (ii) the First Lien Net Leverage Ratio is less than or equal to 3.50:1.00, such percentage shall instead be 0%.
Asset Sale Prepayment Percentage means, as of any date of determination, (a) (x) prior to the Performance Chemicals Sale Closing Date, if the Senior Secured Leverage Ratio (as defined in Annex I) is greater than 3.50:1.00, 100% and (y) on and after the Performance Chemicals Sale Closing Date, if the First Lien Leverage Ratio is greater than 4.00:1.00, 100%, (b) (x) prior to the Performance Chemicals Sale Closing Date, if the Senior Secured Net Leverage Ratio (as defined in Annex I) is less than or equal to 3.50:1.00 and greater than 3.00:1.00, 50% and (y) on and after the Performance Chemicals Sale Closing Date, if the First Lien Leverage Ratio is less than or equal to 4.00:1.00 and greater than 3.50:1.00, 50% and (c) (x) prior to the Performance Chemicals Sale Closing Date, if the Senior Secured Leverage Ratio (as defined in Annex I) is less than or equal to 3.00:1.00, 0% and (y) on and after the Performance Chemicals Sale Closing Date, if the First Lien Leverage Ratio is less than or equal to 3.50:1.00, 0%; it being understood and agreed that, for purposes of this definition as it applies to the determination of the amount of Subject Proceeds that is required to be applied to Prepay the Term Loans under Section 2.11(b)(ii), the First Lien Leverage Ratio shall be determined on a Pro Forma Basis as of the date of such Prepayment, after giving effect to the amount of such Prepayment, as determined in good faith by the Parent Borrower.
Asset Sale Prepayment Percentage means, in the case of Net Proceeds from any Disposition or Casualty Event subject to the mandatory prepayment provisions set forth in Section 2.05(b)(ii), (a) 100%, if the First Lien Net Leverage Ratio is greater than 1.75 to 1.00 as of the last day of the Test Period most recently ended prior to the receipt of such Net Proceeds, (b) 50%, if the First Lien Net Leverage Ratio is less than or equal to 1.75 to 1.00 and greater than 1.50 to 1.00 as of the last day of the Test Period most recently ended prior to the receipt of such Net Proceeds and (c) 0%, if the First Lien Net Leverage Ratio is less than or equal to 1.50 to 1.00 as of the last day of the Test Period most recently ended prior to the receipt of such Net Proceeds. The First Lien Net Leverage Ratios shall be calculated on a Pro Forma Basis, including to give pro forma effect to any paydown or reduction of Loans.
Asset Sale Prepayment Percentage means 100%; provided that if, at the time of receipt by the Issuer or the relevant Restricted Subsidiary of the Net Proceeds from any Asset Sale, on a Pro Forma Basis after giving effect to the applicable Asset Sale and the application of the Net Proceeds therefrom, (i) the Secured Leverage Ratio is less than or equal to 2.65 to 1.00 and greater than 2.40 to 1.00, such percentage shall instead be 50% or (ii) the Secured Leverage Ratio is less than or equal to 2.40 to 1.00, such percentage shall instead be 0%.