Examples of Available Amount Basket in a sentence
If more than one action occurs on any given date the permissibility of the taking of which is determined hereunder by reference to the amount of the Available Amount Basket immediately prior to the taking of such action, the permissibility of the taking of each such action shall be determined independently and in no event may any two or more such actions be treated as occurring simultaneously.
The parties hereby acknowledge that this Section 8.04(a) may not be relied on for purposes of calculating any financial ratios other than as applicable to the Financial Covenant and shall not result in any adjustment to the Applicable Rate, the availability of any baskets, the calculation of the Available Amount Basket or other amounts other than the amount of the Consolidated EBITDA for the purpose of the Financial Covenant.
Negative Covenants: The Secured Bridge Facility Documentation will contain negative covenants as are substantially similar to those for the Credit Facilities, but in any event are no less favorable to the Company and its subsidiaries than those in the Credit Facilities, including as to exceptions and qualifications; provided that the restricted payment covenant shall not include an exception for the Available Amount Basket as set forth in the Bank Documentation.
Usage of the Available Amount Basket for redemptions or prepayments of restricted debt and other restricted payments shall be subject to the Total Net Leverage Ratio (as defined below), on a pro forma basis, not exceeding 5.00:1.00 (provided that this Total Net Leverage Ratio test shall not apply to the redemption or prepayment of any junior secured indebtedness funded with the proceeds of any common equity offering of the Borrower).
The Available Amount Basket may be used solely for Permitted Acquisitions as set forth above.