Available Basket Amount means, at any date of determination, an amount (which shall not be less than $0) determined on a cumulative basis equal to the difference between: (a) the sum (without duplication) of: (i) $35,000,000, plus (ii) Cumulative Consolidated Net Income (which shall not be less than zero), plus (iii) the aggregate amount of dividends and distributions received by Borrower or its Restricted Subsidiaries in the form of Cash or Cash Equivalents on or prior to such date from Investments acquired or made utilizing the Available Basket Amount, plus (iv) in the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary after the Second Amendment Effective Date, the fair market value of the Investment in such Unrestricted Subsidiary at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary (which shall not exceed the original amount of such Investment), plus (v) the Net Cash Proceeds received from any issuance or sale of its Equity Interests occurring after the Closing Date (other than issuances of Disqualified Stock and issuances or sales pursuant to an employee stock ownership plan or other employee benefit plan and excluding Net Cash Proceeds of any issuance or sale of Equity Interests for a specifically identified purpose that were expended for such specifically identified purpose without a corresponding reduction of the Available Basket Amount), plus (vi) the after-tax amount (after taking into account any available tax credit or deductions and any tax sharing arrangements) of all Distributions received in Cash by the Loan Parties after the Closing Date that are attributable to their Equity Interests in any Joint Venture or any Subsidiary that is not a Subsidiary Guarantor, plus (vii) all Net Cash Sales Proceeds received from Dispositions permitted by this Agreement, minus (b) the aggregate amount of all Investments, Capital Expenditures, Distributions and payments in respect of Subordinated Obligations, in each case to the extent made after the Closing Date with amounts available under the Available Basket Amount.
Available Basket Amount means, as of any date:
Available Basket Amount at any date of determination, an amount (to the extent not otherwise applied prior to such date) equal to:
Examples of Available Basket Amount in a sentence
Any Declined Proceeds shall be retained by the Borrower and shall be added to the Available Basket Amount.
Available Basket Amount shall mean, as at any date of determination, (a) One Hundred Thousand Dollars ($100,000) plus (b) 50% of the consolidated net income of Borrower for the period commencing December 31, 2018 and ending on the last day of the most recently ended fiscal quarter, plus (c) 75% of the aggregate cash proceeds received from Borrower after the Closing Date from the issue or sale of equity interests of the Borrower.
All fundings of Loans and payments of Obligations shall be in Dollars and, unless the context otherwise requires, all determinations (including calculations of fair market value, Available Basket Amount and covenants) made from time to time under the Loan Documents shall be made in light of the circumstances existing at such time.
Computations indicating compliance with respect to the financial covenants set forth in Clause C.13 and Clause C.14 of Annex F of the Credit Agreement and the Available Basket Amount are set forth below: [Balance of Page Intentionally Left Blank] 1 Note: To be delivered each Test Fiscal Quarter, including the last Fiscal Quarter of the Guarantor’s Fiscal Year.
Distributions made with the Available Basket Amount; provided that, with respect to any Distributions made with the Available Basket Amount, such Distributions shall only be permitted pursuant to this clause (e) so long as both immediately before and after giving effect to such payment on a Pro Forma Basis, the Senior Secured Leverage Ratio does not exceed 3.25 to 1.0 and no Event of Default exists.
More Definitions of Available Basket Amount
Available Basket Amount means, as at any date of determination, the sum of (a) $150,000,000 plus (b) 50% of Consolidated Net Income for the period commencing on September 1, 2013 and ending on the last day of the most recently ended fiscal quarter plus (c) 100% of the aggregate Net Proceeds received by the Company after the Closing Date from the issue or sale of Equity Interests of the Company or any of its Subsidiaries.
Available Basket Amount means, at any time, an amount equal to (a) ten percent (10%) of Total Shareholders' Equity at such time minus (b) the aggregate then outstanding amount of Indebtedness secured by Liens, without duplication, pursuant to Section 4.02(i)(i), (ii) (of Conseco or any "Significant Subsidiary" (as defined in the Public Debt)), (iii) or (iv).
Available Basket Amount means, at any time of calculation, (A) the sum of (i) the Net Cash Proceeds received by Parent after the Closing Date from any issuance of Qualified Capital Stock of Parent, which are contributed in cash to Borrower to its common equity capital plus (ii) 50% of Consolidated Net Income of Borrower for the period (taken as one accounting period) commencing on the first day of the fiscal quarter in which the Closing Date occurs to and including the last day of the fiscal quarter ended immediately prior to the date of such calculation for which consolidated financial statements are available (or, if such Consolidated Net Income shall be a deficit, minus 100% of such aggregate deficit) plus Five Million Dollars ($5,000,000) minus (B) the aggregate amount of Investments, Permitted Acquisitions, Dividends and prepayments, repurchases or redemptions of Senior Subordinated Notes to the extent made after the Closing Date (in whole or in part) in reliance on the Available Basket Amount; provided that Investments, Permitted Acquisitions, Dividends and prepayments, repurchases or redemptions of Senior Subordinated Notes may be made (in whole or in part) in reliance on the Available Basket Amount only to the extent that, at the time of such Investment, Permitted Acquisition, Dividend, prepayment, repurchase or redemption (i) on a Pro Forma Basis, Borrower shall be in compliance with the covenants set forth in Section 6.07 and no Default shall exist and (ii) Borrower could incur an additional $1.00 of Indebtedness pursuant to Section 6.01(i).
Available Basket Amount means, at any date of determination, an amount (which shall not be less than $0) determined on a cumulative basis equal to the difference between: (a) the sum (without duplication) of: (i) $25,000,000, plus (ii) Cumulative Consolidated Net Income (which shall not be less than zero), plus (iii) the aggregate amount of dividends and distributions received by Borrower or its Restricted Subsidiaries in the form of Cash or Cash Equivalents on or prior to such date from Investments acquired or made utilizing the Available Basket Amount, plus (iv) in the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary after the Second Amendment Effective Date, the fair market value of the Investment in such Unrestricted Subsidiary at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary (which shall not exceed the original amount of such Investment), plus (v) the Net Cash Proceeds received from any issuance or sale of its Equity Interests occurring after the Closing Date (other than issuances of Disqualified Stock and issuances or sales pursuant to an employee stock ownership plan or other employee benefit plan and excluding Net Cash Proceeds of any issuance or sale of Equity Interests for a specifically identified purpose that were expended for such specifically identified purpose without a corresponding reduction of the Available Basket Amount), plus (vi) the after-tax amount (after taking into account any available tax credit or deductions and any tax sharing arrangements) of all Distributions received in Cash by the Loan Parties after the Closing Date that are attributable to their Equity Interests in any Joint Venture or any Subsidiary that is not a Subsidiary Guarantor, plus (vii) all Net Cash Sales Proceeds received from Dispositions permitted by this Agreement, minus (b) the aggregate amount of all Investments, Capital Expenditures, Distributions and payments in respect of Subordinated Obligations, in each case to the extent made after the Closing Date with amounts available under the Available Basket Amount.
Available Basket Amount at any date of determination, a cumulative amount equal to (without duplication):
Available Basket Amount means, on any date of determination, an amount equal to (a) the sum of (i) the greater of (A) $250,000,000 and (B) 35% of LTM EBITDA, (ii) 50% of the aggregate Consolidated Net Income for all Test Periods ended on or after September 30, 2021 but on or prior to such date, (iii) 100.0% of the net cash proceeds and Permitted Investments received by the Borrower since the Funding Date from (A) the issuance or sale of its Qualified Capital Stock and/or (B) contributions to its common equity and (iv) Declined Proceeds minus (b) the aggregate amount of Investments made pursuant to Section 6.04(a) after the Effective Date and on or prior to such date, minus (c) the aggregate amount of Restricted Payments made pursuant to Section 6.06(c) after the Effective Date and on or prior to such date, minus (d) the aggregate amount of payments made after the Effective Date and on or prior to such date pursuant to Section 6.07(d).