Applicable Cash Percentage means (i) 100%, in the case of cash and Cash Equivalents maintained in the United States of America and (ii) 100% less the applicable combined federal and state marginal income tax rate (taking into account the federal deduction for state income taxes and available tax credits) that would be imposed on the Company or applicable Subsidiary in the case of, and with respect to, the repatriation of such cash and Cash Equivalents to the United States of America, in the case of cash and Cash Equivalents maintained in Canada or Mexico.
Applicable Cash Percentage means, for any fiscal year: (a) fifty percent (50.00%), if the Secured Net Leverage Ratio of the Borrower as of the last day of such fiscal year is greater than 3.00:1.00; (b) twenty-five percent (25.00%), if the Secured Net Leverage Ratio of the Borrower as of the last day of such fiscal year is less than or equal to 3.00:1.00, but greater than 2.50:1.00; and (c) zero percent (0.00%) if the Secured Net Leverage Ratio of the Borrower as of the last day of such fiscal year is less than or equal to 2.50:1.00.
Examples of Applicable Cash Percentage in a sentence
Subject to the provisions of Section 2.4, the Term Loan shall bear interest at a per annum rate equal to the sum of (i) the Applicable PIK Percentage plus (ii) the Applicable Cash Percentage.
More Definitions of Applicable Cash Percentage
Applicable Cash Percentage means, (a) for the ECF Mandatory Prepayment Date occurring in 2015, 100% and (b) for the ECF Mandatory Prepayment Date occurring in 2016 and each ECF Mandatory Prepayment Date thereafter, (i) 100%, if the Consolidated Total Net Leverage Ratio as of the last day of the immediately preceding fiscal year is greater than 3.50:1.00, (ii) 75.0%, if the Consolidated Total Net Leverage Ratio as of the last day of the immediately preceding fiscal year is less than or equal to 3.50:1.00 but greater than 2.50:1.00 and (iii) 50.0%, if the Consolidated Total Net Leverage Ratio as of the last day of the immediately preceding fiscal year is less than or equal to 2.50:1.00.
Applicable Cash Percentage means, for any fiscal quarter: (a) seventy-five percent (75.0%) if the Consolidated Total Net Leverage Ratio as of the last day of such fiscal quarter is greater than 3.25:1.00, (b) fifty percent (50.0%) if the Consolidated Total Net Leverage Ratio as of the last day of such fiscal quarter is equal to or less than 3.25:1.00 but greater than 2.50:1.00; and (c) zero percent (0.0%) if the Consolidated Total Net Leverage Ratio as of the last day of such fiscal quarter is less than or equal to 2.50:1.00.
Applicable Cash Percentage shall have the meaning set forth in Section 2.5(c).
Applicable Cash Percentage shall be equal to 67.925%.
Applicable Cash Percentage means, for any fiscal quarter: (a) 75.00% if the Consolidated First Lien Net Leverage Ratio for the Test Period ended on the last day of such fiscal quarter is greater than 5.00:1.00; (b) 50.00% if the Consolidated First Lien Net Leverage Ratio for the Test Period ended on the last day of such fiscal quarter is less than or equal to 5.00:1.00 but greater than 4.50:1.00; and (c) 0.00% if the Consolidated First Lien Net Leverage Ratio for the Test Period ended on the last day of such fiscal quarter is equal to or less than 4.50:1.00.
Applicable Cash Percentage means, with respect to any reduction in the Purchase Price or Market Value of any Eligible Account pursuant to Section 3.3, the portion, expressed as a percentage, of the initial Purchase Price of such Eligible Account paid in cash by the Company pursuant to Section 3.1 or 3.2, provided that in no event shall the Applicable Cash Percentage be less than 85%".