Debt and Capital Lease Obligations Sample Clauses

Debt and Capital Lease Obligations. The composition of debt and capital lease obligations at December 31 is as follows: 2008 2007 Working Capital Facility $ 32,531 $ 12,658 Second-Lien Facility 14,000 36,000 Senior Subordinated Notes, due February 1, 2014, 91/4% interest payable semiannually on February 1 and August 1 175,000 175,000 Capital leases 9,524 10,625 Other 2,990 295 234,045 234,578 Current maturities and working capital facility (34,591 ) (21,436 ) $ 199,454 $ 213,142 At December 31, 2008 the schedule of principal payments of debt including the term loan as scheduled capital lease obligations and the working capital facility, is as follows: 2009 $ 34,591 2010 16,015 2011 1,516 2012 1,042 2013 1,088 Thereafter 179,793 This excludes note repurchase obligations, if any, that may result from the “Excess Cash Flow” provision of the Senior Subordinated Notes as described below. For the years ended December 31, 2008 2007 and 2006, the Company’s weighted average interest rate on its short-term borrowings was 5.79%, 8.31%, and 9.25%, respectively. Interest paid for each of the years ended December 31, 2008, 2007, and 2006 was $21,906, $25,423, and $28,507, respectively. Credit Agreement On June 29, 2007, certain subsidiaries of the Company entered into the Third Amended and Restated Credit Agreement with General Electric Capital Corporation as agent and lender (the “Amended GE Credit Agreement”). The Amended GE Credit Agreement:(i) extends the maturity date to June 29, 2012; (ii) increases the revolving credit commitment to $100,000 (the “Working Capital Facility”), which includes(a) a new cash flow facility of up to $20,000 with interest at LIBOR plus 2.50%, (b) an asset based facility and (c) a new amortizing $8,000 property, plant and equipment (PPE) facility; (iii) provides for lower interest rate percentages applicable to the asset based and PPE borrowings that range from LIBOR plus 1.50% to 2.25% depending upon the fixed charge coverage ratio; (iv) substitutes a senior leverage ratio of 2.75 for the previous total leverage ratio. Borrowings under the Working Capital Facility may not exceed 85% of eligible receivables plus the lesser of (i) 85% of the net orderly liquidation value of eligible inventories or (ii) 65% of the book value of eligible inventories less customary reserves, plus machinery at appraised value not to exceed $8,000. Borrowings under the cash flow facility are dependent on a 52 Table of Contents THERMADYNE HOLDINGS CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEM...
Sample 1
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Debt and Capital Lease Obligations. The carrying values of the obligations outstanding under the Working Capital Facility, the Second Lien Facility and other long-term obligations, excluding the Senior Subordinated Notes, are estimated to approximate fair values since these obligations are fully secured and have varying interest charges based on current market rates. The estimated fair value of the Company’s Senior Subordinated Notes of $97,125 and $162,750 at December 31, 2008 and December 31, 2007, respectively, is based on available market information.
Sample 1
Debt and Capital Lease Obligations. The composition of debt and capital lease obligations at December 31 is as follows: 2009 2008 Working Capital Facility $ 9,643 $ 32,531 Second Lien Facility 25,000 14,000 Issuance discount on Second Lien Facility (1,703 ) — Senior Subordinated Notes, due February 1, 2014, 91/4% interest payable semiannually on February 1 and August 1 172,327 175,000 Capital leases 9,869 9,524 Other 1,888 2,990 217,024 234,045 Current maturities and working capital facility (18,558 ) (34,591 ) $ 198,466 $ 199,454 51 Table of Contents THERMADYNE HOLDINGS CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) At December 31, 2009, the schedule of principal payments of debt is as follows: 2010 $ 18,558 2011 2,536 2012 19,361 2013 2,063 2014 173,815 Thereafter 691 The 2010 principal payments include $6,000 payable with respect to 2009 under the Excess Cash Flow provision of the Senior Subordinated Notes as described below. This excludes additional note repurchase obligations, if any, that may result subsequent to 2010 from the “Excess Cash Flow” provision. The 2010 principal payments also include the outstanding balance of the Working Capital Facility. Interest paid for each of the years ended December 31, 2009, 2008, and 2007 was $19,957, $21,906, and $25,423, respectively. Working Capital Facility Certain subsidiaries of the Company are borrowers under the Third Amended and Restated Credit Agreement dated June 29, 2007 as amended (the “Credit Agreement”), with General Electric Capital Corporation as agent and lender. The Credit Agreement: (i) matures on June 29, 2012; (ii) provides a revolving credit commitment of up to $70 million (the “Working Capital Facility”), which includes (a) an asset based facility and (b) an amortizing $10 million property, plant and equipment facility; (iii) provides for interest rate percentages applicable to the asset base; (iv) limits the senior leverage ratio to 2.75; (v) provides for an interest rate of 90-day LIBOR plus 4.00%; (vi) includes a prepayment fee of 2% if the Facility is terminated prior to June 27, 2010 or 1% prior to June 27, 2011; and (vii) includes a minimum fixed charge coverage ratio for the twelve-months ended June 30, 2009 and September 30, 2009 of 0.95 and 0.825, respectively, 1.00 for the quarter ended December 31, 2009 and 1.10 thereafter. With respect to the quarters ending December 31, 2009, March 31, 2010 and June 30, 2010, the calculation is based on the results for the three months, six months, and nin...
Sample 1
Debt and Capital Lease Obligations. The composition of debt and capital lease obligations was as follows: March 31, December 31, 2010 2009 Working Capital Facility $ — $ 9,643 Second Lien Facility 25,000 25,000 Issuance discount on Second Lien Facility (1,562 ) (1,703 ) Senior Subordinated Notes, due February 1, 2014, 9 1/4% interest payable semiannually on February 1 and August 1 172,327 172,327 Capital leases 9,786 9,869 Other 1,773 1,888 207,324 217,024 Current maturities and working capital facility (17,089 ) (18,558 ) $ 190,235 $ 198,466 Working Capital Facility Certain subsidiaries of the Company are borrowers under the Third Amended and Restated Credit Agreement dated June 29, 2007 as amended (the “Credit Agreement”), with General Electric Capital Corporation as agent and lender. The Credit Agreement: (i) matures on June 29, 2012; (ii) provides a revolving credit commitment of up to $70,000 (the “Working Capital Facility”), which includes (a) an asset based facility and (b) an amortizing $10,000 property, plant and equipment facility; (iii) provides for interest rate percentages applicable to the asset base; (iv) limits the senior leverage ratio to 2.75; (v) provides for an interest rate of 90-day LIBOR plus 4.00%; (vi) includes a prepayment fee of 2% if the Facility is terminated prior to June 27, 2010 or 1% prior to June 27, 2011; and (vii) includes a minimum fixed charge coverage ratio for the twelve-months ended June 30, 2009 and September 30, 2009 of 0.95 and 0.825, respectively, 1.00 for the quarter ended December 31, 2009 and 1.10 thereafter. With respect to the quarters ending March 31, 2010 and June 30, 2010, the calculation is based on the results for the six months and nine months periods ending on such dates, respectively. The calculation for quarters ending September 30, 2010 and thereafter is based on the twelve month periods then ending. Borrowings under the Working Capital Facility may not exceed 85% of eligible receivables plus the lesser of (i) 85% of the net orderly liquidation value of eligible inventories or (ii) 65% of the book value of eligible inventories less customary reserves, plus machinery at appraised value not to exceed $10,000. At March 31, 2010, $3,878 of letters of credit were outstanding under the Credit Agreement. Unused availability, net of these letters of credit, was $49,167 under the Working Capital Facility.
Sample 1
Debt and Capital Lease Obligations. At Closing, the Parent shall ---------------------------------- assume all of the Indebtedness, if any, outstanding at such date and shall pay such amounts in the ordinary course as the same shall become due and payable pursuant to the terms of such Indebtedness. At Closing, or thereafter, the Parent shall execute and deliver any or all documents and instruments and do all such acts and things as the Buyer may reasonably request to effect the purpose of this Section 6.14.
Sample 1

Related to Debt and Capital Lease Obligations

  • Capital Lease Obligations With respect to any Person, the obligations of such Person to pay rent or other amounts under any Capitalized Lease.

  • Lease Obligations The Company shall not, and shall not suffer or permit any Subsidiary to, create or suffer to exist any obligations for the payment of rent for any property under lease or agreement to lease, except for:

  • Operating Lease Obligations On the Effective Date, none of the Loan Parties has any Operating Lease Obligations other than the Operating Lease Obligations set forth on Schedule 6.01(q).

  • Capitalized Lease Obligations Sale and Leaseback Transactions, export credit facilities with a maturity of at least one year and Purchase Money Indebtedness of, including Guarantees of any of the foregoing by, the Issuer and/or any Restricted Subsidiary, in an aggregate principal amount at any one time outstanding not to exceed U.S.$1 billion;

  • Capitalized Lease Obligation 3 Commission................................................................ 4

  • Capital Leases No Covered Person has an interest as a lessee under any Capital Leases other than Capital Leases that are Permitted Indebtedness.

  • Debt and Guaranty Obligations Schedule 7.1(t) is a complete and correct listing of all Debt and Guaranty Obligations of the Borrower and its Subsidiaries as of the Closing Date in excess of $1,000,000. The Borrower and its Subsidiaries have performed and are in compliance in all material respects with all of the terms of such Debt and Guaranty Obligations and all instruments and agreements relating thereto, and no default or event of default, or event or condition which with notice or lapse of time or both would constitute such a default or event of default on the part of the Borrower or any of its Subsidiaries exists with respect to any such Debt or Guaranty Obligation.

  • Capital Lease Any lease of property (real, personal or mixed) which, in accordance with GAAP and Statement No. 13 of the Financial Accounting Standards Board would be capitalized on the lessee's balance sheet.

  • Recourse Obligations The Mortgage Loan documents for each Mortgage Loan (a) provide that such Mortgage Loan becomes full recourse to the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis) in any of the following events (or negotiated provisions of substantially similar effect): (i) if any petition for bankruptcy, insolvency, dissolution or liquidation pursuant to federal bankruptcy law, or any similar federal or state law, shall be filed by, consented to, or acquiesced in by, the Mortgagor; (ii) the Mortgagor or guarantor shall have solicited or caused to be solicited petitioning creditors to cause an involuntary bankruptcy filing with respect to the Mortgagor or (iii) voluntary transfers of either the Mortgaged Property or controlling equity interests in the Mortgagor made in violation of the Mortgage Loan documents; and (b) contains provisions for recourse against the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis), for losses and damages resulting from the following (or negotiated provisions of substantially similar effect): (i) the Mortgagor’s misappropriation of rents after an event of default, security deposits, insurance proceeds, or condemnation awards; (ii) the Mortgagor’s fraud or intentional material misrepresentation; (iii) breaches of the environmental covenants in the Mortgage Loan documents; or (iv) the Mortgagor’s commission of intentional material physical waste at the Mortgaged Property (but, in some cases, only to the extent there is sufficient cash flow generated by the related Mortgaged Property to prevent such waste).

  • Indebtedness and Guaranty Obligations Create, incur or assume any Indebtedness or Guaranty Obligation except:

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