Operating Lease Payments. To the extent payable under the terms ------------------------ of the Base Case Financial Model, XXX shall make Operating Lease Payments to SRP consistent with the following: (a) Operating Lease Payments shall be due and payable thirty (30) days after the end of each calendar quarter; (b) an Operating Lease Payment shall not be considered late if paid within fifteen (15) days after it is due; and (c) each late payment will bear interest at the rate of 12% per annum until paid. The Operating Lease Payment amount, if any, shall be recalculated each year throughout the Term as part of the annual budgeting process described in Section 5.3.
Operating Lease Payments. The operations of each Borrowing Base Property must produce cash flow sufficient to cover all minimum base rent under the Operating Lease with respect to such Borrowing Base Property.
Operating Lease Payments. Incur operating lease obligations requiring payments in excess of Cdn.$1,500,000 in the aggregate for the entire Gerdau Canada Group during any period of four consecutive Fiscal Quarters.
Operating Lease Payments. 72 Section 5.17. Restricted Payments........................................... 72 Section 5.18. Investments................................................... 74 Section 5.19. Transactions with Affiliates.................................. 76 Section 5.20. Limitation on Restrictions Affecting Subsidiaries............. 77 Section 5.21. MGM Debt...................................................... 78 Section 5.22. Hedging Facilities............................................ 78 Section 5.23. Further Assurances............................................ 78 Section 5.24. Minimum Number of Films....................................... 80 ARTICLE 6 --------- Defaults -------- Section 6.01. Events of Default............................................. 80
Operating Lease Payments. 70 Section 5.17. Restricted Payments............................................ 70 Section 5.18. Investments.................................................... 71 Section 5.19. Transactions with Affiliates................................... 73 Section 5.20. Limitation on Restrictions Affecting Subsidiaries.............. 73 Section 5.21. MGM Debt....................................................... 74 Section 5.22. Hedging Facilities............................................. 74 Section 5.23. Further Assurances............................................. 74 Section 5.24. [Intentionally Deleted]........................................ 76 Section 5.25. Total Borrowed Funds to Film Value............................. 76 Section 5.26. Library Cash Flows to Combined Cash Interest Expense........... 76
Operating Lease Payments. Each Borrower will not, and will not permit any of its Subsidiaries to, incur or assume (whether pursuant to a Guarantee or otherwise) any liability for rental payments under a lease with a lease term (as defined in Financial Accounting Standards Board Statement No. 13, as in effect on the date hereof) of one year or more (other than in connection with any Sale-Leaseback Transaction) if, after giving effect thereto, the aggregate amount of minimum lease payments that the Combined Companies have so incurred or assumed will exceed, on a Combined Basis, (x) $35,000,000 for any Fiscal Year under all such leases (excluding any lease which is to be accounted for as a capital lease on the balance sheet of either Borrower and its respective Consolidated Subsidiaries) plus (y) a one-time basket in an aggregate amount not in excess of $15,000,000 consisting solely of lease payments incurred as a result of the Combined Companies changing the location of their chief executive office (which one-time basket may be applied in one Fiscal Year or in two consecutive Fiscal Years).
Operating Lease Payments. Make operating lease payments in an aggregate amount exceeding $20,000,000 during any calendar year.
Operating Lease Payments. Interest Expense shall mean the aggregate consolidated interest accrued and/or paid by the Borrower and its Subsidiaries in respect of Indebtedness determined on a consolidated basis in accordance with GAAP, including, without limitation, amortization of original issue discount on any Indebtedness and of all fees payable in connection with the incurrence of such Indebtedness (to the extent included in interest expense), the interest portion of any deferred payment obligation the interest component of any Capital Lease Obligations, net cash costs under any Interest Rate Agreements or Commodity Hedge Agreements, all capitalized interest and interest paid by the Borrower or its Subsidiaries on debt guaranteed by the Borrower or its Subsidiaries.
Operating Lease Payments. The Borrower will not, and will not permit any Subsidiary to, incur or assume (whether pursuant to a Guarantee or otherwise) any liability for rental payments under a lease with a lease term (as defined in Financial Accounting Standards Board Statement No. 13, as in effect on the date hereof) of one year or more (other than in connection with any Sale-Leaseback Transaction) if, after giving effect thereto, the aggregate amount of minimum lease payments that the Borrower and its Consolidated Subsidiaries have so incurred or assumed will exceed, on a consolidated basis, $15,000,000 for any calendar year under all such leases (excluding any lease which is to be accounted for as a capital lease on the balance sheet of the Borrower and its Consolidated Subsidiaries).
Operating Lease Payments. (a) Upon the occurrence and during the continuation of a Lock-Down Event of Default, not increase the amount that SGC or any of its Restricted Subsidiaries is obligated to pay as Operating Lease Payments, and (b) at all other times, not increase the amount that SGC or any of its Restricted Subsidiaries is obligated to pay as Operating Lease Payments unless prior to such increase the Nation causes SGC to deliver to the Trustee a certification demonstrating that, had such increase been in effect for the most recent 12-month period for which financial statements of SGC are available, the Income Available for Distribution during such period would have been not less than 200% of the Distributions which SGC was required to make under Section 3.01 hereof during such period; provided, however that no certification shall be required under this Section 4.19(b) in connection with the 3% annual increases to Operating Lease Payments effected consistent with the terms of Section 4.13 of the SGC Indenture.
