Annual Excess Cash Flow has the meaning set forth in Section 2.10(c).
Annual Excess Cash Flow means, in respect of any Fiscal Year and in respect of any Person, consolidated EBITDA for such period of such Person less, without duplication, (a) interest and scheduled principal payments in respect of Total Funded Debt for such period, and any voluntary or mandatory principal prepayments made in cash of Total Funded Debt, (b) Cash Taxes for such period, (c) Unfunded Capital Expenditures for such period, and (d) any cash expenses paid during such period to the extent previously deducted in computing net income in a prior period or which will be deducted in computing net income in a subsequent period.
Annual Excess Cash Flow means, for each Annual Fiscal Period, based on the audited financial statements of Holdings delivered pursuant to Section 5.4(c), (a) Adjusted EBITDA for such Annual Fiscal Period, less (b) the sum of (i) Cash Interest Expense on all Indebtedness for such Annual Fiscal Period, (ii) principal payments (if any) required or made with respect to the Senior Indebtedness during such Annual Fiscal Period, (iii) Capital Expenditures paid in cash during such Annual Fiscal Period (other than Capital Expenditures made with Asset Sale Proceeds, funds from the Dividend/CapEx Funding Account and the CapEx Funding Account, the Equity Offering Proceeds from the issuance of IDSs to the extent not required to be applied to prepay the Obligations under Section 2.10, and repayments of loans or returns of capital under Service Contracts), (iv) Tax Provisions paid in cash during such Annual Fiscal Period, (v) any increase in the outstanding principal amount of Revolving Loans and Swingline Loans from the first day of such Annual Fiscal Period to the last day of such Annual Fiscal Period and (vi) Distributions paid in cash to Persons that are not Loan Parties during such Fiscal Period to the extent permitted under Section 6.16.
Examples of Annual Excess Cash Flow in a sentence
For the Debtors’ fiscal year 2017 and continuing annually in each fiscal year thereafter, not later than ten (10) days following receipt of the Debtors’ year-end reviewed financial statements and in no event later than 120 days following the end of such fiscal year, the Annual Excess Cash Flow Payment shall be due.
Once a Class 3 Claim becomes Allowed by Final Order or otherwise pursuant to the terms of the Plan, the holder of the Allowed Class 3 Claim shall receive a Distribution or Distributions in Cash from the Reorganized Debtors representing such holder’s Pro-Rata share of the Class 3 Annual Minimum Distribution, Class 3 Annual Excess Cash Flow Distribution and interest in fifty (50%) percent of the net proceeds from any Cause of Action.
Any Institutional Lender that wishes to decline receipt of its Institutional Term Loan B share pursuant to this Section 2.10(d), shall notify the applicable Administrative Agent and the Borrower of its election to decline its Institutional Term Loan B share prior to 10:00 a.m. (New York City time) five (5) Business Days prior to the Annual Excess Cash Flow Payment Date.
On an annual basis during the term of the Plan and as soon as practicable but not later than June 15th of each year of the Plan, the Reorganized Debtors shall prepare a calculation of the Class 3 Annual Excess Cash Flow Distribution (even if the calculation results in no Distribution).
More Definitions of Annual Excess Cash Flow
Annual Excess Cash Flow means, in respect of any fiscal year of Holdings, the amount of Excess Cash Flow of Holdings for such fiscal year.
Annual Excess Cash Flow means, in respect of any Fiscal Year and in respect of any Person, consolidated EBITDA for such period of such Person less, without duplication,
Annual Excess Cash Flow has the meaning specified in the definition of “Excess ECF Adjustment”.
Annual Excess Cash Flow means, for any calendar year of the Borrower based on the audited financial statements required to be provided pursuant to Section 6.2 hereof, the Operating Cash Flow of the Borrower for such calendar year minus each of the following for such calendar year: (i) cash interest expense, (ii) the net permanent reduction of the outstanding principal amount of the Loans, (iii) bank fees, (iv) cash income tax payments, (v) Capital Expenditures, (vi) management fees, expenses, and other amounts paid in cash which were deferred in a prior period of the Borrower under the Management Agreement, (vii) payments made in respect of Capitalized Lease Obligations, and (viii) any Investments made as permitted hereunder.
Annual Excess Cash Flow means, as of the end of any fiscal year of the Borrower, as determined based upon the audited annual financial statements for such year required to be provided under Section 6.2 hereof, the remainder of (a) Operating Cash Flow for such year, minus (b) the sum of the following items for the Borrower and the Restricted Subsidiaries on a consolidated basis for such year: (i) Total Interest Expense paid during such period; (ii) Capital Expenditures made (net of any proceeds realized in respect of damaged or destroyed capital assets or from the disposition of obsolete or retired capital assets); (iii) payments of principal of Total Debt scheduled to be made pursuant to the documents, instruments or agreements evidencing such Total Debt; (iv) income taxes (without duplication) paid or payable in cash during or with respect to such year; and (v) the lesser of (A) cash or Cash Equivalents then held by the Borrower and the Restricted Subsidiaries on a consolidated basis or (B) $5,000,000.
Annual Excess Cash Flow means, for each Annual Fiscal Period, based on the audited financial statements of Holdings delivered pursuant to Section 5.4(c), (a) Adjusted EBITDA for such Annual Fiscal Period (but excluding any pro forma adjustments resulting from permitted Business Acquisitions), less (b) the sum of (without duplication) (i) Cash Interest Expense on all Indebtedness for such Annual Fiscal Period, (ii) principal payments (if any) required to be made with respect to the Senior Indebtedness during such Annual Fiscal Period, (iii) Capital Expenditures paid in cash during such Annual Fiscal Period (other than Capital Expenditures made with Asset Sale Proceeds and repayments of loans or returns of capital under Service Contracts), (iv) Tax Provisions paid in cash during such Annual Fiscal Period, (v) any increase in the outstanding principal amount of Revolving Loans and Swingline Loans from the first day of such Annual Fiscal Period to the last day of such Annual Fiscal Period, (vi) Distributions paid in cash to Persons that are not Loan Parties during such Annual Fiscal Period to the extent permitted under Section 6.16, (vii) cash used during such Annual Fiscal Period to make Permitted Business Acquisitions, (viii) any cash expenses for such Annual Fiscal Period to the extent reflected in clauses (d), (f) or (i) of the definition herein of the term “EBITDA” for such Annual Fiscal Period, and (ix) the Permitted Capital Expenditure Carryover Amount for such Annual Fiscal Period (in no event to duplicate from clause (b)(iii) of this definition) plus (c) the Permitted Capital Expenditure Carryover Amount for the Annual Fiscal Period immediately prior the current Annual Fiscal Period to the extent such amount was not used for Capital Expenditures during the current Annual Fiscal Period (for the avoidance of doubt, any Permitted Capital Expenditure Carryover Amount for the Annual Fiscal Period immediately prior the current Annual Fiscal Period to the extent such amount was used for Capital Expenditures during the current Annual Fiscal Period will be included in clause (b)(iii) of this definition).
Annual Excess Cash Flow means, for any calendar year of the Borrower based on the audited financial statements required to be provided pursuant to Section 6.2 hereof, the Operating Cash Flow of the Borrower for such calendar year minus each of the following for such calendar year: (i) cash interest expense, (ii) the net permanent reduction of the outstanding principal amount of the Loans, (iii) bank fees, (iv) cash income tax payments, (v) Capital Expenditures, (vi) management fees, expenses, and other amounts paid in cash which were deferred in a prior period of the Borrower under the Management Agreement, (vii) payments made in respect of Capitalized Lease Obligations, and